Republic of Korea: Metal Threading Machine Market 2024

Metal Threading Machine Market Size in Republic of Korea

After two years of growth, the South Korean metal threading machine market decreased by -6.4% to $X in 2021. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Metal Threading Machine Production in Republic of Korea

In value terms, metal threading machine production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 16% against the previous year. Metal threading machine production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Metal Threading Machine Exports

Exports from Republic of Korea

In 2021, overseas shipments of threading or tapping machines for working metal decreased by -0.1% to X units, falling for the fourth year in a row after three years of growth. Overall, exports showed a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 57%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal threading machine exports declined to $X in 2021. Over the period under review, exports recorded a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 46%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Vietnam (X units) and Turkey (X units) were the main destinations of metal threading machine exports from South Korea, together comprising 48% of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +28.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal threading machine exported from South Korea were the United States ($X), Vietnam ($X) and Mexico ($X), with a combined 47% share of total exports. Germany, Turkey, China, India, Brazil, Indonesia and Poland lagged somewhat behind, together accounting for a further 43%.

Turkey, with a CAGR of +20.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average metal threading machine export price amounted to $X per unit, stabilizing at the previous year. Overall, the export price continues to indicate a mild shrinkage. The growth pace was the most rapid in 2018 when the average export price increased by 18%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Turkey ($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 India (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Threading Machine Imports

Imports into Republic of Korea

In 2021, approx. X units of threading or tapping machines for working metal were imported into South Korea; waning by -17.8% against the previous year's figure. In general, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 22% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal threading machine imports surged to $X in 2021. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 34%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal threading machine to South Korea, accounting for a 65% share of total imports. Moreover, metal threading machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-25.5% per year) and Taiwan (Chinese) (-13.6% per year).

In value terms, China ($X), Germany ($X) and Japan ($X) were the largest metal threading machine suppliers to South Korea, together comprising 77% of total imports.

China, with a CAGR of +10.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average metal threading machine import price stood at $X per unit in 2021, growing by 60% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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