Republic of Korea - Balls, Needles And Rollers For Ball Or Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingTools for Bearing Price in South Korea - 2022
Contents:
- Tools for Bearing Price in South Korea (CIF) - 2022
- Tools for Bearing Price in South Korea (FOB) - 2022
- Tools for Bearing Imports in South Korea
- Tools for Bearing Exports in South Korea
Tools for Bearing Price in South Korea (CIF) - 2022
The average tools for bearing import price stood at $5,681 per ton in December 2022, remaining stable against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 an increase of 17% against the previous month. As a result, import price reached the peak level of $6,283 per ton. From March 2022 to December 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($18,329 per ton), while the price for Vietnam ($3,337 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 (-0.4%), while the prices for the other major suppliers experienced a decline.
Tools for Bearing Price in South Korea (FOB) - 2022
The average tools for bearing export price stood at $8,887 per ton in 2022, declining by -2.7% against the previous year. In general, the export price saw a mild downturn. The most prominent rate of growth was recorded in 2020 an increase of 64%. Over the period under review, the average export prices hit record highs at $11,109 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($25,214 per ton), while the average price for exports to Malaysia ($4,125 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 Vietnam (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.
Tools for Bearing Imports in South Korea
In 2022, approx. 24K tons of balls, needles and rollers for ball or roller bearings were imported into South Korea; shrinking by -9.8% compared with the year before. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. As a result, imports attained the peak of 27K tons, and then shrank in the following year.
In value terms, tools for bearing imports declined to $136M in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 25%. As a result, imports attained the peak of $151M, and then declined in the following year.
| Import of Tools for Bearing in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 63.8 | 60.2 | 76.2 | 90.4 | 12.3% |
| Japan | 28.3 | 31.1 | 40.6 | 15.7 | -17.8% |
| Indonesia | 8.8 | 7.1 | 8.6 | 10.7 | 6.7% |
| Germany | 5.8 | 5.7 | 7.7 | 7.1 | 7.0% |
| Spain | 5.0 | 3.7 | 3.4 | 5.0 | 0.0% |
| United States | 9.2 | 8.3 | 11.3 | 3.6 | -26.9% |
| Italy | 6.3 | 2.3 | 0.5 | 0.2 | -68.3% |
| Others | 2.4 | 2.2 | 2.4 | 3.0 | 7.7% |
| Total | 130 | 121 | 151 | 136 | 1.5% |
Top Suppliers of Tools for Bearing to South Korea in 2022:
- Italy (undefinedK tons)
- China (20.3K tons)
- Indonesia (1.5K tons)
- Japan (1.3K tons)
- Germany (0.4K tons)
- Spain (0.4K tons)
- United States (0.2K tons)
Tools for Bearing Exports in South Korea
Tools for bearing exports from South Korea declined slightly to 1.9K tons in 2022, which is down by -4.3% on 2021 figures. In general, exports recorded a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 26%.
In value terms, tools for bearing exports declined to $17M in 2022. The total export value increased at an average annual rate of +7.6% 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 appeared the most rapid in 2021 when exports increased by 16% against the previous year. As a result, the exports attained the peak of $19M, and then shrank in the following year.
| Export of Tools for Bearing in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 3.0 | 2.2 | 3.0 | 3.3 | 3.2% |
| France | 4.4 | 4.5 | 2.7 | 3.1 | -11.0% |
| Vietnam | 0.1 | 0.3 | 0.7 | 3.1 | 214.1% |
| China | 3.8 | 5.0 | 6.2 | 1.7 | -23.5% |
| India | 0.4 | 0.3 | 1.2 | 1.2 | 44.2% |
| United States | 0.3 | 0.2 | 0.4 | 0.9 | 44.2% |
| Malaysia | 0.3 | 0.8 | 0.8 | 0.7 | 32.6% |
| Others | 1.4 | 2.7 | 3.6 | 3.2 | 31.7% |
| Total | 13.9 | 16.0 | 18.5 | 17.3 | 7.6% |
Top Export Markets for Tools for Bearing from South Korea in 2022:
- Mexico (424.4 tons)
- France (377.1 tons)
- China (283.3 tons)
- India (212.7 tons)
- Malaysia (181.7 tons)
- United States (161.8 tons)
- Vietnam (121.0 tons)
This report provides an in-depth analysis of the tools for bearing 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 28153130 - Balls, needles and rollers for ball or roller bearings
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.
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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
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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
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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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