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Republic of Korea - Hot-Rolled Bars in Free-Cutting Steels - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Hot-Rolled Free-Cutting Steel Market 2024
Hot-Rolled Free-Cutting Steel Market Size in Republic of Korea
The South Korean hot-rolled free-cutting steel market amounted to $X in 2023, flattening at the previous year. Overall, consumption, however, posted buoyant growth. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market failed to regain momentum.
Hot-Rolled Free-Cutting Steel Production in Republic of Korea
In value terms, hot-rolled free-cutting steel production amounted to $X in 2023 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.
Hot-Rolled Free-Cutting Steel Exports
Exports from Republic of Korea
Hot-rolled free-cutting steel exports from South Korea declined modestly to X tons in 2023, with a decrease of X% against the previous year. In general, exports faced a precipitous setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
In value terms, hot-rolled free-cutting steel exports reduced slightly to $X in 2023. Overall, exports faced a dramatic decline. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Canada (X tons) was the main destination for hot-rolled free-cutting steel exports from South Korea, with a X% share of total exports. Moreover, hot-rolled free-cutting steel exports to Canada exceeded the volume sent to the second major destination, Sri Lanka (X tons), sevenfold.
From 2012 to 2023, the average annual rate of growth in terms of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (X% per year) and Malaysia (X% per year).
In value terms, Canada ($X) emerged as the key foreign market for hot-rolled bars in free-cutting steels exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (X% per year) and Malaysia (X% per year).
Export Prices by Country
In 2023, the average hot-rolled free-cutting steel export price amounted to $X per ton, remaining constant against the previous year. In general, the export price recorded prominent growth. The growth pace was the most rapid in 2016 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.
Hot-Rolled Free-Cutting Steel Imports
Imports into Republic of Korea
In 2023, purchases abroad of hot-rolled bars in free-cutting steels decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports showed a sharp descent. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.
In value terms, hot-rolled free-cutting steel imports declined to $X in 2023. Over the period under review, imports faced a significant decline. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, Japan (X tons) was the main hot-rolled free-cutting steel supplier to South Korea, with a approx. X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from Japan stood at X%.
In value terms, Japan ($X) constituted the largest supplier of hot-rolled bars in free-cutting steels to South Korea.
From 2012 to 2023, the average annual rate of growth in terms of value from Japan totaled X%.
Import Prices by Country
In 2023, the average hot-rolled free-cutting steel import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price, however, recorded mild growth. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then fell in the following year.
As there is only one major supplying country, the average price level is determined by prices for Japan.
From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.
Source: IndexBox Platform
This report provides an in-depth analysis of the hot-rolled free-cutting steel 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 24106230 - Hot-rolled bars in free-cutting steels
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
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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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