Republic of Korea: Metal Deburring Machine Market 2024

Metal Deburring Machine Market Size in Republic of Korea

The South Korean metal deburring machine market fell to $X in 2022, declining by X% against the previous year. Overall, consumption, however, enjoyed a strong increase. Metal deburring machine consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Metal Deburring Machine Production in Republic of Korea

In value terms, metal deburring machine production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Metal Deburring Machine Exports

Exports from Republic of Korea

In 2022, approx. X units of machines for deburring or polishing metal were exported from South Korea; which is down by X% compared with 2021 figures. In general, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal deburring machine exports declined modestly to $X in 2022. Over the period under review, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

India (X units), Vietnam (X units) and Malaysia (X units) were the main destinations of metal deburring machine exports from South Korea, with a combined X% share of total exports. Turkey, the United States, Saudi Arabia, China, Hungary, Oman, the United Arab Emirates, Australia and Italy lagged somewhat behind, together comprising a further X%.

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

In value terms, India ($X) emerged as the key foreign market for machines for deburring or polishing metal exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual growth rate of value to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2022, the average metal deburring machine export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Saudi Arabia ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Deburring Machine Imports

Imports into Republic of Korea

In 2022, approx. X units of machines for deburring or polishing metal were imported into South Korea; falling by X% compared with the year before. Over the period under review, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, metal deburring machine imports declined notably to $X in 2022. In general, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 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 metal deburring machine to South Korea, accounting for a X% share of total imports. Moreover, metal deburring machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. Poland (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Poland (X.6% per year).

In value terms, China ($X), Japan ($X) and Poland ($X) were the largest metal deburring machine suppliers to South Korea, with a combined X% share of total imports.

Poland, with a CAGR of X.6%, recorded 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 metal deburring machine import price amounted to $X per unit, which is down by X% against the previous year. In general, the import price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for the Czech Republic ($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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