Republic of Korea - Grinding, Sanding or Polishing Machines - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Grinding, Sanding and Polishing Machines 2024
Market Size for Grinding, Sanding and Polishing Machines in Republic of Korea
The South Korean market for grinding, sanding and polishing machines contracted notably to $X in 2022, waning by X% against the previous year. Overall, consumption, however, showed a notable increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.
Production of Grinding, Sanding and Polishing Machines in Republic of Korea
In value terms, grinding, sanding and polishing machine production contracted sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Exports of Grinding, Sanding and Polishing Machines
Exports from Republic of Korea
In 2022, shipments abroad of grinding, sanding and polishing machines was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports recorded a moderate increase. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.
In value terms, grinding, sanding and polishing machine exports skyrocketed to $X in 2022. Overall, exports posted slight growth. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.
Exports by Country
Vietnam (X units) was the main destination for grinding, sanding and polishing machine exports from South Korea, with a X% share of total exports. Moreover, grinding, sanding and polishing machine exports to Vietnam exceeded the volume sent to the second major destination, Hungary (X units), more than tenfold. Indonesia (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (X% per year) and Indonesia (X% per year).
In value terms, Vietnam ($X) emerged as the key foreign market for grinding, sanding and polishing machines exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Hungary ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (X% per year) and Indonesia (X% per year).
Export Prices by Country
In 2022, the average export price for grinding, sanding and polishing machines amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Myanmar ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Grinding, Sanding and Polishing Machines
Imports into Republic of Korea
In 2022, overseas purchases of grinding, sanding and polishing machines decreased by X% to X units, falling for the fifth year in a row after two years of growth. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.
In value terms, grinding, sanding and polishing machine imports rose slightly to $X in 2022. Over the period under review, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, China (X units) constituted the largest grinding, sanding and polishing machine supplier to South Korea, accounting for a X% share of total imports. Moreover, grinding, sanding and polishing machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sevenfold. Germany (X units) ranked third in terms of total imports with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Germany (X% per year).
In value terms, China ($X), Germany ($X) and Taiwan (Chinese) ($X) appeared to be the largest grinding, sanding and polishing machine suppliers to South Korea, together comprising X% of total imports.
In terms of 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
The average import price for grinding, sanding and polishing machines stood at $X per unit in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for grinding, sanding and polishing machine 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 28491263 - Grinding, sanding or polishing machines for working wood, c ork, bone, hard rubber, hard plastics or similar hard materials
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
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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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