The market is dominated by foreign suppliers, as imports account for 94.5% of total market size in 2021. B2B drives market demand, with B2B spending representing 98.2% of total demand in 2021. South Korea has the 10th largest market size for machinery for textile and apparel production regionally, with demand reaching USD817 million in 2021. Sunstar Precision Co Ltd is the largest company in South Korea, generating 12.2% of the industry’s total production value in 2021. The industry is fragmented, with the top five companies generating 33.3% of total production value in 2021. The total number of companies decreases in 2021, to 1,338 units. The costs of the industry increase by 11.5% in 2021, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 11.7% of production value in 2021, the eighth highest regionally. The industry’s exports share decreases in 2021 to 94.6% of total production output. With production value of USD725 million, South Korea accounts for 2.4% of the Asia Pacific total in 2021.
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This Euromonitor industrial report provides unique information on Machinery for Textile and Apparel Production in South Korea: ISIC 2926. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Machinery for Textile and Apparel Production in South Korea: ISIC 2926 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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