Republic of Korea: Market for Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips 2024

Market Size for Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips in Republic of Korea

The South Korean market for unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips rose significantly to $X in 2022, growing by X% against the previous year. Overall, consumption saw a resilient expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips in Republic of Korea

In value terms, production of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips expanded sharply to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

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Exports of Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips

Exports from Republic of Korea

In 2022, exports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips from South Korea fell to X tons, waning by X% on 2021 figures. Overall, exports saw a noticeable decline. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips contracted to $X in 2022. The total export value increased at an average annual rate of X% from 2012 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 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), the United States (X tons) and India (X tons) were the main destinations of exports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips from South Korea, together accounting for X% of total exports. Germany, Japan, Russia, Turkey, France, Belgium, Vietnam and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unmounted tool inserts, sticks or plates exported from South Korea were China ($X), the United States ($X) and India ($X), together comprising X% of total exports. Germany, Belgium, Japan, Turkey, Russia, Vietnam, France and Italy lagged somewhat behind, together comprising a further X%.

France, with a CAGR of X%, 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

The average export price for unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

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 Belgium ($X per ton), while the average price for exports to France ($X 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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips

Imports into Republic of Korea

In 2022, the amount of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips imported into South Korea reduced to X tons, declining by X% compared with the previous year. In general, imports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports of reached the maximum at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, imports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips shrank to $X in 2022. Overall, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of imports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips to South Korea, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), China ($X) and Israel ($X) appeared to be the largest unmounted tool inserts, sticks or plates suppliers to South Korea, with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips amounted to $X per ton, reducing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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