Republic of Korea: Centrifuges Market 2024

Centrifuges Market Size in Republic of Korea

The South Korean centrifuges market declined to $X.7B in 2022, which is down by X% against the previous year. In general, the total consumption indicated a mild 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, consumption decreased by X% against 2017 indices. As a result, consumption reached the peak level of $X.3B. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Centrifuges Production in Republic of Korea

In value terms, centrifuges production declined to $X.9B in 2022 estimated in export price. Overall, the total production indicated a slight expansion 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 2017 indices. The growth pace was the most rapid in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X.6B. From 2018 to 2022, production growth remained at a lower figure.

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Centrifuges Exports

Exports from Republic of Korea

After two years of growth, shipments abroad of centrifuges decreased by X% to X units in 2022. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, centrifuges exports reduced markedly to $X in 2022. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for centrifuges exports from South Korea, with a X% share of total exports. Moreover, centrifuges exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X units), twofold. China (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

In value terms, the United States ($X), China ($X) and Vietnam ($X) appeared to be the largest markets for centrifuges exported from South Korea worldwide, together comprising X% of total exports. Indonesia, Kazakhstan, Poland, the United Arab Emirates, Russia, Japan, Bahrain, Singapore, India and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Bahrain, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average centrifuges export price amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable increase. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to the United Arab Emirates ($X 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 Bahrain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Centrifuges Imports

Imports into Republic of Korea

In 2022, approx. X units of centrifuges were imported into South Korea; with an increase of X% compared with 2021 figures. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, centrifuges imports rose markedly to $X in 2022. In general, imports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of centrifuges to South Korea, accounting for a X% share of total imports. Moreover, centrifuges imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

In value terms, the largest centrifuges suppliers to South Korea were Germany ($X), China ($X) and Japan ($X), with a combined X% share of total imports. The United States, Italy, Thailand and France lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average centrifuges import price stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the import price showed a pronounced setback. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 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 France ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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