Report Update: May 1, 2024

Republic of Korea - Spectrometers And Spectrophotometers - Market Analysis, Forecast, Size, Trends And Insights

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Spectrometers and Spectrophotometers Price in South Korea - 2022

Spectrometers and Spectrophotometers Price in South Korea (CIF) - 2022

The average spectrometers and spectrophotometers import price stood at $837 per unit in December 2022, with a decrease of -21.9% against the previous month. Overall, the import price continues to indicate a sharp contraction. The most prominent rate of growth was recorded in April 2022 an increase of 50% m-o-m. Over the period under review, average import prices reached the maximum at $14,028 per unit in December 2021; however, from January 2022 to December 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the Czech Republic ($6,498 per unit), while the price for Singapore ($310 per unit) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (-6.2%), while the prices for the other major suppliers experienced a decline.

Spectrometers and Spectrophotometers Price in South Korea (FOB) - 2022

In 2022, the average spectrometers and spectrophotometers export price amounted to $6,320 per unit, shrinking by -17.6% against the previous year. Over the period under review, the export price saw a perceptible decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the maximum at $12,827 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($15,296 per unit), while the average price for exports to Thailand ($1,975 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 Thailand (+10.4%), while the prices for the other major destinations experienced mixed trend patterns.

Spectrometers and Spectrophotometers Imports in South Korea

In 2022, imports of spectrometers and spectrophotometers into South Korea rose markedly to 78K units, surging by 6.2% against the previous year's figure. The total import volume increased at an average annual rate of +9.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 15% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, spectrometers and spectrophotometers imports totaled $236M in 2022. The total import value increased at an average annual rate of +9.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 39% against the previous year. As a result, imports reached the peak of $250M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Spectrometers and Spectrophotometers in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	48.4	65.1	57.8	60.2	7.5%
Germany	28.8	40.7	33.9	36.3	8.0%
Singapore	31.1	38.5	26.3	34.2	3.2%
Japan	14.5	19.0	20.7	20.0	11.3%
United Kingdom	14.3	20.6	19.6	19.0	9.9%
China	10.7	14.2	12.8	13.2	7.2%
New Zealand	6.1	8.0	10.3	10.0	17.9%
Malaysia	3.2	6.2	8.4	8.2	36.8%
Canada	5.2	7.6	5.9	6.6	8.3%
Ireland	2.9	7.9	3.3	4.8	18.3%
Others	14.6	21.9	22.5	23.3	16.9%
Total	180	250	221	236	9.4%

Top Suppliers of Spectrometers and Spectrophotometers to South Korea in 2022:

United States (17.2K units)
Singapore (13.2K units)
China (10.6K units)
Germany (8.9K units)
Japan (6.1K units)
Malaysia (5.2K units)
United Kingdom (4.7K units)
New Zealand (1.7K units)
Canada (1.2K units)
Ireland (1.0K units)

Spectrometers and Spectrophotometers Exports in South Korea

For the fourth year in a row, South Korea recorded growth in overseas shipments of spectrometers and spectrophotometers, which increased by 26% to 4.3K units in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spectrometers and spectrophotometers exports expanded modestly to $27M in 2022. Over the period under review, exports, however, recorded a pronounced descent. Over the period under review, the exports attained the maximum at $31M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of Spectrometers and Spectrophotometers in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	6.0	12.6	3.4	6.6	3.2%
Singapore	6.4	4.4	6.9	6.2	-1.1%
China	9.0	2.4	4.9	4.8	-18.9%
Japan	2.5	3.1	2.4	2.4	-1.4%
Vietnam	2.0	1.0	2.0	1.8	-3.5%
India	0.4	0.2	1.1	1.0	35.7%
Germany	1.4	0.3	0.8	0.7	-20.6%
Taiwan (Chinese)	0.9	0.4	0.7	0.6	-12.6%
Others	2.5	3.4	3.7	2.8	3.8%
Total	31.0	28.0	25.8	26.9	-4.6%

Top Export Markets for Spectrometers and Spectrophotometers from South Korea in 2022:

Singapore (1489.0 units)
United States (676.0 units)
China (533.0 units)
Japan (489.0 units)
Germany (223.0 units)
Taiwan (Chinese) (158.0 units)
Vietnam (142.0 units)
India (65.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the spectrometers and spectrophotometers 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 26515330 - Spectrometers, spectrophotometers... using optical radiations

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