Republic of Korea - Interchangeable Spanner Sockets - Market Analysis, Forecast, Size, Trends And Insights
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View PricingInterchangeable Spanner Socket Price in South Korea - 2022
Contents:
- Interchangeable Spanner Socket Price in South Korea (CIF) - 2022
- Interchangeable Spanner Socket Price in South Korea (FOB) - 2022
- Interchangeable Spanner Socket Imports in South Korea
- Interchangeable Spanner Socket Exports in South Korea
Interchangeable Spanner Socket Price in South Korea (CIF) - 2022
The average interchangeable spanner socket import price stood at $12,289 per ton in December 2022, increasing by 5.2% against the previous month. Overall, import price indicated a slight increase from December 2021 to December 2022: its price increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, interchangeable spanner socket import price decreased by -33.3% against September 2022 indices. The pace of growth appeared the most rapid in September 2022 when the average import price increased by 55% month-to-month. As a result, import price reached the peak level of $18,421 per ton. From October 2022 to December 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($23,352 per ton), while the price for Taiwan (Chinese) ($7,643 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced a decline.
Interchangeable Spanner Socket Price in South Korea (FOB) - 2022
The average interchangeable spanner socket export price stood at $12,260 per ton in 2022, increasing by 14% against the previous year. In general, the export price continues to indicate a noticeable increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 127% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($24,925 per ton), while the average price for exports to Japan ($3,519 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.
Interchangeable Spanner Socket Imports in South Korea
In 2022, the amount of interchangeable spanner sockets imported into South Korea declined to 937 tons, with a decrease of -8.1% against the previous year's figure. The total import volume increased at an average annual rate of +4.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. As a result, imports reached the peak of 1K tons, and then contracted in the following year.
In value terms, interchangeable spanner socket imports dropped modestly to $12M in 2022. The total import value increased at an average annual rate of +9.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. As a result, imports attained the peak of $13M, and then shrank modestly in the following year.
| Import of Interchangeable Spanner Socket in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 4.5 | 4.5 | 5.4 | 5.5 | 6.9% |
| Japan | 2.3 | 2.4 | 3.6 | 2.5 | 2.8% |
| China | 0.8 | 0.8 | 1.7 | 1.6 | 26.0% |
| Others | 1.8 | 1.7 | 2.0 | 2.7 | 14.5% |
| Total | 9.3 | 9.3 | 12.7 | 12.1 | 9.2% |
Top Suppliers of Interchangeable Spanner Socket to South Korea in 2022:
- Taiwan (Chinese) (622.4 tons)
- China (194.3 tons)
- Japan (89.7 tons)
Interchangeable Spanner Socket Exports in South Korea
In 2022, the amount of interchangeable spanner sockets exported from South Korea shrank significantly to 52 tons, which is down by -82.8% compared with 2021. In general, exports recorded a dramatic slump. The pace of growth appeared the most rapid in 2021 with an increase of 444% against the previous year. As a result, the exports reached the peak of 302 tons, and then fell significantly in the following year.
In value terms, interchangeable spanner socket exports contracted dramatically to $636K in 2022. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 431% against the previous year. As a result, the exports reached the peak of $3.2M, and then reduced dramatically in the following year.
| Export of Interchangeable Spanner Socket in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 168 | 134 | 2,746 | 258 | 15.4% |
| China | 42.9 | 93.8 | 42.0 | 79.6 | 22.9% |
| Japan | 333 | 81.5 | 11.5 | 22.0 | -59.6% |
| Poland | 5.0 | 5.6 | 4.9 | 20.3 | 59.5% |
| Nigeria | 1.4 | N/A | N/A | 19.3 | 139.8% |
| United Kingdom | 0.6 | 1.1 | 4.3 | 19.2 | 217.5% |
| Russia | 20.4 | 21.8 | 19.7 | 16.0 | -7.8% |
| United Arab Emirates | 49.3 | 49.0 | 87.5 | 13.2 | -35.5% |
| Others | 168 | 222 | 317 | 188 | 3.8% |
| Total | 790 | 609 | 3,232 | 636 | -7.0% |
Top Export Markets for Interchangeable Spanner Socket from South Korea in 2022:
- United States (28.4 tons)
- Japan (6.3 tons)
- China (3.2 tons)
- Poland (3.1 tons)
- Nigeria (2.7 tons)
- United Kingdom (1.9 tons)
- Russia (1.3 tons)
- United Arab Emirates (0.6 tons)
This report provides an in-depth analysis of the interchangeable spanner socket 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 25733037 - Interchangeable spanner sockets
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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