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Republic of Korea - Table, Kitchen Or Household Articles And Parts Of Iron - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIron Household Articles Price in South Korea - 2022
Contents:
- Iron Household Articles Price in South Korea (CIF) - 2022
- Iron Household Articles Price in South Korea (FOB) - 2022
- Iron Household Articles Imports in South Korea
- Iron Household Articles Exports in South Korea
Iron Household Articles Price in South Korea (CIF) - 2022
In December 2022, the average iron household articles import price amounted to $3,842 per ton, reducing by -3.4% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2022 when the average import price increased by 26% against the previous month. As a result, import price attained the peak level of $4,415 per ton. From February 2022 to December 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Germany ($14,543 per ton), while the price for China ($3,364 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Iron Household Articles Price in South Korea (FOB) - 2022
In 2022, the average iron household articles export price amounted to $3,973 per ton, leveling off at the previous year. In general, the export price, however, continues to indicate a mild slump. The growth pace was the most rapid in 2017 an increase of 14%. Over the period under review, the average export prices reached the peak figure at $4,837 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($7,348 per ton), while the average price for exports to the Philippines ($800 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.
Iron Household Articles Imports in South Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of table, kitchen or household articles and parts of iron, when their volume decreased by -7.3% to 17K tons. The total import volume increased at an average annual rate of +9.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 20% against the previous year.
In value terms, iron household articles imports fell to $60M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +11.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.1% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 30% against the previous year. As a result, imports reached the peak of $68M, and then contracted in the following year.
Import of Iron Household Articles in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 37.6 | 45.0 | 53.2 | 52.9 | 12.1% |
Vietnam | 0.5 | 0.4 | 0.6 | 0.8 | 17.0% |
Others | 5.6 | 7.1 | 14.2 | 6.5 | 5.1% |
Total | 43.6 | 52.4 | 68.0 | 60.2 | 11.4% |
Top Suppliers of Iron Household Articles to South Korea in 2022:
- China (16.1K tons)
- Vietnam (0.4K tons)
Iron Household Articles Exports in South Korea
In 2022, the amount of table, kitchen or household articles and parts of iron exported from South Korea dropped sharply to 2.8K tons, which is down by -26.7% compared with the year before. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 145% against the previous year. As a result, the exports reached the peak of 3.8K tons, and then contracted sharply in the following year.
In value terms, iron household articles exports declined sharply to $11M in 2022. Over the period under review, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 110%. As a result, the exports reached the peak of $15M, and then fell rapidly in the following year.
Export of Iron Household Articles in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 3,691 | 2,677 | 3,807 | 3,415 | -2.6% |
Japan | 293 | 202 | 491 | 2,324 | 99.4% |
Philippines | 389 | 337 | 1,184 | 852 | 29.9% |
United States | 526 | 732 | 3,080 | 616 | 5.4% |
Taiwan (Chinese) | 324 | 367 | 740 | 533 | 18.0% |
Thailand | 226 | 100 | 353 | 254 | 4.0% |
Russia | 73.1 | 83.2 | 277 | 199 | 39.6% |
Mongolia | 54.3 | 79.8 | 205 | 147 | 39.4% |
Cambodia | 88.9 | 134 | 84.2 | 107 | 6.4% |
Australia | 218 | 120 | 251 | 69.2 | -31.8% |
Nigeria | 31.0 | 51.9 | 74.8 | 53.9 | 20.2% |
Cameroon | 18.1 | 58.0 | 74.4 | 53.6 | 43.6% |
Others | 1,925 | 2,184 | 4,378 | 2,438 | 8.2% |
Total | 7,858 | 7,126 | 14,998 | 11,062 | 12.1% |
Top Export Markets for Iron Household Articles from South Korea in 2022:
- Philippines (1065.5 tons)
- China (507.2 tons)
- Japan (371.7 tons)
- United States (124.1 tons)
- Taiwan (Chinese) (72.5 tons)
- Thailand (70.0 tons)
- Nigeria (57.9 tons)
- Cameroon (55.4 tons)
- Mongolia (49.7 tons)
- Russia (47.4 tons)
- Cambodia (41.9 tons)
- Australia (13.9 tons)
This report provides an in-depth analysis of the iron household articles market 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 25991245 - Table, kitchen or household articles and parts thereof of iron other than cast iron, or steel other than stainless (excl. enamelled)
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
-
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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