Republic of Korea: Filling Containers Machinery Market 2024

Filling Containers Machinery Market Size in Republic of Korea

The South Korean filling containers machinery market amounted to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, showed a noticeable decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Filling Containers Machinery Production in Republic of Korea

In value terms, filling containers machinery production rose to $X in 2022 estimated in export price. Overall, production, however, showed a slight descent. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Filling Containers Machinery Exports

Exports from Republic of Korea

In 2022, overseas shipments of machinery for filling, closing, sealing, capsuling or labelling containers increased by X% to X units, rising for the third year in a row after four years of decline. Overall, exports, however, recorded a perceptible decline. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, filling containers machinery exports dropped remarkably to $X in 2022. Over the period under review, total exports indicated a perceptible 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

The United States (X units), China (X units) and Thailand (X units) were the main destinations of filling containers machinery exports from South Korea, with a combined X% share of total exports. Australia, Vietnam, Taiwan (Chinese), Russia, Canada, Mexico, Japan, India, Bangladesh and Indonesia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X), China ($X) and Thailand ($X) constituted the largest markets for filling containers machinery exported from South Korea worldwide, with a combined X% share of total exports. Australia, Vietnam, Taiwan (Chinese), Russia, Canada, Mexico, Japan, India, Bangladesh and Indonesia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Canada, 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 filling containers machinery export price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per unit) and Vietnam ($X per unit), while the average price for exports to Mexico ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Filling Containers Machinery Imports

Imports into Republic of Korea

In 2022, supplies from abroad of machinery for filling, closing, sealing, capsuling or labelling containers decreased by X% to X units, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, filling containers machinery imports shrank dramatically to $X in 2022. In general, imports, however, continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of filling containers machinery to South Korea, with a X% share of total imports. Moreover, filling containers machinery imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Italy (X units) ranked third in terms of total imports with a X% share.

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

In value terms, Germany ($X), China ($X) and Italy ($X) constituted the largest filling containers machinery suppliers to South Korea, together comprising X% of total imports.

China, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average filling containers machinery import price amounted to $X per unit, reducing by X% against the previous year. In general, the import price saw a noticeable setback. The growth pace was the most rapid in 2016 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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