Report Update Nov 1, 2024

Republic of Korea - Tools of Wood - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Republic of Korea: Wood Tool Market 2024

Wood Tool Market Size in Republic of Korea

The South Korean wood tool market surged to $X in 2021, rising by 33% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.2% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wood Tool Exports

Exports from Republic of Korea

In 2021, the amount of tools of wood exported from South Korea skyrocketed to X tons, rising by 108% on 2020 figures. Over the period under review, exports continue to indicate a prominent increase. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood tool exports surged to $X in 2021. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 177% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Egypt (X tons) was the main destination for wood tool exports from South Korea, accounting for a 42% share of total exports. Moreover, wood tool exports to Egypt exceeded the volume sent to the second major destination, Panama (X tons), threefold. Japan (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Egypt totaled +67.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+29.0% per year) and Japan (+8.6% per year).

In value terms, Japan ($X) remains the key foreign market for tools of wood exports from South Korea, comprising 56% of total exports. The second position in the ranking was taken by Panama ($X), with a 7.8% share of total exports. It was followed by Egypt, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan amounted to +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+25.1% per year) and Egypt (+61.3% per year).

Export Prices by Country

The average wood tool export price stood at $X per ton in 2021, reducing by -25.3% against the previous year. Over the period under review, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2013 an increase of 70%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+2.4%), while the prices for the other major destinations experienced a decline.

Wood Tool Imports

Imports into Republic of Korea

In 2021, purchases abroad of tools of wood was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, wood tool imports surged to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +114.0% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest wood tool supplier to South Korea, with a 66% share of total imports. Moreover, wood tool imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from China stood at -10.0%.

In value terms, China ($X) constituted the largest supplier of tools of wood to South Korea, comprising 52% of total imports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +4.5%.

Import Prices by Country

The average wood tool import price stood at $X per ton in 2021, picking up by 13% against the previous year. In general, the import price showed a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of 23%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Vietnam amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tools of wood in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 33% share of global consumption. Italy, Russia, South Africa, Brazil, Japan, Indonesia, France, Mexico, Pakistan and Germany lagged somewhat behind, together accounting for a further 40%.

What are the largest producers of tools of wood in the world?

China remains the largest wood tool producing country worldwide, comprising approx. 29% of total volume. Moreover, wood tool production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by the United States, with a 7.5% share.

What are the leading suppliers of tools of wood to Republic of Korea?

In value terms, China constituted the largest supplier of wood tool to South Korea, comprising 47% of total imports. The second position in the ranking was occupied by Vietnam, with an 18% share of total imports.

What are the leading importers of tools of wood from Republic of Korea?

In value terms, Japan remains the key foreign market for wood tool exports from South Korea, comprising 48% of total exports. The second position in the ranking was occupied by Panama, with an 11% share of total exports. It was followed by Egypt, with a 9.2% share.

What is the average export price for tools of wood in Republic of Korea?

In 2021, the average wood tool export price amounted to $11,354 per ton, waning by -82.4% against the previous year.

What is the average import price for tools of wood in Republic of Korea?

The average wood tool import price stood at $1,421 per ton in 2021, surging by 8.5% against the previous year.

This report provides an in-depth analysis of the wood tool market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 16291130 - Tools, tool bodies and handles and broom or brush bodies and handles of wood, boot and shoe lasts and trees of wood

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023