Republic of Korea: Market for Reel Fed Letterpress Printing Machinery 2024

Market Size for Reel Fed Letterpress Printing Machinery in Republic of Korea

In 2022, the South Korean market for reel fed letterpress printing machinery decreased by -23% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a slight slump. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Reel Fed Letterpress Printing Machinery in Republic of Korea

In value terms, reel fed letterpress printing machinery production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 6.7%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Reel Fed Letterpress Printing Machinery

Exports from Republic of Korea

Reel fed letterpress printing machinery exports from South Korea declined notably to X units in 2022, falling by -72.2% compared with the year before. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when exports increased by 182%. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, reel fed letterpress printing machinery exports fell remarkably to $X in 2022. Over the period under review, exports saw a abrupt descent. The growth pace was the most rapid in 2019 with an increase of 1,007% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units), the United Arab Emirates (X units) and the United States (X units) were the main destinations of reel fed letterpress printing machinery exports from South Korea, together accounting for 80% of total exports. Moreover, reel fed letterpress printing machinery exports in Indonesia exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +7.2%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) emerged as the key foreign market for reel fed letterpress printing machinery exports from South Korea, comprising 89% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.2% share of total exports. It was followed by the United States, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+51.2% per year) and the United States (-15.4% per year).

Export Prices by Country

In 2022, the average export price for reel fed letterpress printing machinery amounted to $X per unit, rising by 21% against the previous year. Overall, the export price continues to indicate a slight expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 293%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+112.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reel Fed Letterpress Printing Machinery

Imports into Republic of Korea

In 2022, purchases abroad of reel fed letterpress printing machinery decreased by -58.3% to X units, falling for the third consecutive year after two years of growth. Overall, imports showed a abrupt decline. The growth pace was the most rapid in 2016 when imports increased by 301%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, reel fed letterpress printing machinery imports surged to $X in 2022. Over the period under review, imports, however, posted a prominent expansion. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of reel fed letterpress printing machinery to South Korea, accounting for a 98% share of total imports. It was followed by the United States (X units), with a 2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +37.7%.

In value terms, China ($X) constituted the largest supplier of reel fed letterpress printing machinery to South Korea, comprising 100% of total imports. The second position in the ranking was taken by the United States ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +36.1%.

Import Prices by Country

In 2022, the average import price for reel fed letterpress printing machinery amounted to $X per unit, jumping by 771% against the previous year. Over the period under review, the import price continues to indicate prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+19.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :