Republic of Korea: Centrifugal Clothes-Dryer Market 2024

Centrifugal Clothes-Dryer Market Size in Republic of Korea

The South Korean centrifugal clothes-dryer market skyrocketed to $X in 2021, picking up by 230% against the previous year. Overall, consumption, however, recorded a pronounced descent. Centrifugal clothes-dryer consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Centrifugal Clothes-Dryer Production in Republic of Korea

In value terms, centrifugal clothes-dryer production surged to $X in 2021 estimated in export price. Overall, production, however, saw a deep setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 455% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Centrifugal Clothes-Dryer Exports

Exports from Republic of Korea

Centrifugal clothes-dryer exports from South Korea shrank remarkably to X units in 2021, which is down by -95.1% against 2020 figures. In general, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 3,337% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, centrifugal clothes-dryer exports fell remarkably to $X in 2021. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2019 when exports increased by 3,107% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for centrifugal clothes-dryer exports from South Korea, with a 79% share of total exports. Moreover, centrifugal clothes-dryer exports to the United Arab Emirates exceeded the volume sent to the second major destination, Guatemala (X units), more than tenfold. Oman (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-13.5% per year) and Oman (-28.6% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for centrifugal clothes-dryers exports from South Korea, comprising 78% of total exports. The second position in the ranking was taken by Oman ($X), with a 6.2% share of total exports. It was followed by Vietnam, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-24.6% per year) and Vietnam (-19.7% per year).

Export Prices by Country

The average centrifugal clothes-dryer export price stood at $X per unit in 2021, increasing by 6.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.4%. The pace of growth was the most pronounced in 2013 an increase of 57% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, 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 Indonesia ($X per unit), while the average price for exports to Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Centrifugal Clothes-Dryer Imports

Imports into Republic of Korea

In 2021, the amount of centrifugal clothes-dryers imported into South Korea soared to X units, jumping by 18% against the previous year. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 97%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, centrifugal clothes-dryer imports totaled $X in 2021. Overall, imports showed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 96%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X units) was the main supplier of centrifugal clothes-dryer to South Korea, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +21.1%.

In value terms, China ($X) constituted the largest supplier of centrifugal clothes-dryers to South Korea.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +17.4%.

Import Prices by Country

The average centrifugal clothes-dryer import price stood at $X per unit in 2021, dropping by -7.1% against the previous year. Over the period under review, the import price recorded a perceptible slump. The pace of growth appeared the most rapid in 2018 an increase of 8.7% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +0.0% per year.

Source: IndexBox Platform

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