Republic of Korea: Liquid Dispensing Pump Market 2024

Liquid Dispensing Pump Market Size in Republic of Korea

The South Korean liquid dispensing pump market expanded significantly to $X in 2022, surging by X% against the previous year. Overall, consumption posted a pronounced increase. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Liquid Dispensing Pump Production in Republic of Korea

In value terms, liquid dispensing pump production rose remarkably to $X in 2022 estimated in export price. Overall, production recorded pronounced growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Liquid Dispensing Pump Exports

Exports from Republic of Korea

In 2022, the amount of pumps for dispensing liquids exported from South Korea expanded remarkably to X units, with an increase of X% against the previous year. In general, exports recorded a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, liquid dispensing pump exports surged to $X in 2022. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for liquid dispensing pump exports from South Korea, accounting for a X% share of total exports. Moreover, liquid dispensing pump exports to Malaysia exceeded the volume sent to the second major destination, Hungary (X units), twofold. India (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (X% per year) and India (X% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for pumps for dispensing liquids exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average liquid dispensing pump export price amounted to $X per unit, growing by X% against the previous year. In general, export price indicated moderate growth from 2012 to 2022: its price 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, liquid dispensing pump export price increased by X% against 2019 indices. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

Liquid Dispensing Pump Imports

Imports into Republic of Korea

In 2022, the amount of pumps for dispensing liquids imported into South Korea reduced notably to X units, dropping by X% against 2021 figures. Overall, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, liquid dispensing pump imports contracted to $X in 2022. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest liquid dispensing pump supplier to South Korea, with a X% share of total imports. Moreover, liquid dispensing pump imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by France (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms 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 France (X% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) were the largest liquid dispensing pump suppliers to South Korea, with a combined X% share 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 more modest paces of growth.

Import Prices by Country

In 2022, the average liquid dispensing pump import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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