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

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

For the third year in a row, the South Korean market for reel fed offset printing machinery recorded growth in sales value, which increased by 83% to $X in 2022. Overall, consumption enjoyed a resilient increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Reel Fed Offset Printing Machinery in Republic of Korea

In value terms, reel fed offset printing machinery production stood at less than $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume decreased by 99.9%. Reel fed offset printing machinery production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Reel Fed Offset Printing Machinery

Exports from Republic of Korea

In 2022, overseas shipments of reel fed offset printing machinery increased by 62% to X units, rising for the second year in a row after three years of decline. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 68% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, reel fed offset printing machinery exports skyrocketed to $X in 2022. Over the period under review, exports, however, faced a deep downturn. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Angola (X units) was the main destination for reel fed offset printing machinery exports from South Korea, accounting for a 13% share of total exports. Moreover, reel fed offset printing machinery exports to Angola exceeded the volume sent to the second major destination, China (X units), fourfold. India (X units) ranked third in terms of total exports with a 0.5% share.

From 2012 to 2022, the average annual growth rate of volume to Angola totaled +38.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+21.5% per year) and India (-31.5% per year).

In value terms, China ($X) emerged as the key foreign market for reel fed offset printing machinery exports from South Korea, comprising 71% of total exports. The second position in the ranking was taken by Angola ($X), with a 20% share of total exports. It was followed by the United States, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+33.3% per year) and the United States (-8.6% per year).

Export Prices by Country

The average export price for reel fed offset printing machinery stood at $X per unit in 2022, rising by 7.7% against the previous year. In general, the export price, however, saw a deep reduction. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to India ($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 the United States (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Reel Fed Offset Printing Machinery

Imports into Republic of Korea

After two years of growth, purchases abroad of reel fed offset printing machinery decreased by -12.3% to X units in 2022. In general, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 526% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, reel fed offset printing machinery imports dropped significantly to $X in 2022. Overall, imports saw a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 404%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) was the main supplier of reel fed offset printing machinery to South Korea, with a 96% share of total imports. It was followed by China (X units), with a 2.7% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.8% per year) and the UK (-42.4% per year).

In value terms, Japan ($X) constituted the largest supplier of reel fed offset printing machinery to South Korea, comprising 81% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.3% per year) and the UK (-44.0% per year).

Import Prices by Country

In 2022, the average import price for reel fed offset printing machinery amounted to $X per unit, dropping by -68.2% against the previous year. Overall, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 52%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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