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Republic of Korea - Hot-Rolled Bars of Silico-Manganese Steel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2024
Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Republic of Korea
The South Korean hot-rolled silico-manganese steel bar market was finally on the rise to reach $X in 2023, after two years of decline. Overall, consumption, however, showed a noticeable contraction. Hot-rolled silico-manganese steel bar consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.
Production of Hot-Rolled Bars Of Silico-Manganese Steel in Republic of Korea
In value terms, hot-rolled silico-manganese steel bar production rose to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.
Exports of Hot-Rolled Bars Of Silico-Manganese Steel
Exports from Republic of Korea
After two years of growth, overseas shipments of hot-rolled bars of silico-manganese steel decreased by X% to X tons in 2023. In general, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2022, and then fell in the following year.
In value terms, hot-rolled silico-manganese steel bar exports declined to $X in 2023. Overall, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2022, and then reduced in the following year.
Exports by Country
China (X tons) was the main destination for hot-rolled silico-manganese steel bar exports from South Korea, accounting for a X% share of total exports. Moreover, hot-rolled silico-manganese steel bar exports to China exceeded the volume sent to the second major destination, the United States (X tons), tenfold. The third position in this ranking was held by Malaysia (X tons), with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Malaysia (X% per year).
In value terms, China ($X) emerged as the key foreign market for hot-rolled bars of silico-manganese steel exports from South Korea, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Poland, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Poland (X% per year).
Export Prices by Country
The average hot-rolled silico-manganese steel bar export price stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price, however, recorded a slight setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Australia ($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 Germany (X%), while the prices for the other major destinations experienced a decline.
Imports of Hot-Rolled Bars Of Silico-Manganese Steel
Imports into Republic of Korea
In 2023, overseas purchases of hot-rolled bars of silico-manganese steel increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports failed to regain momentum.
In value terms, hot-rolled silico-manganese steel bar imports rose markedly to $X in 2023. Over the period under review, imports, however, showed a sharp slump. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, Japan (X tons) was the main hot-rolled silico-manganese steel bar supplier to South Korea, accounting for a X% share of total imports. It was followed by China (X tons), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from Japan stood at X%.
In value terms, Japan ($X) constituted the largest supplier of hot-rolled bars of silico-manganese steel to South Korea, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.
From 2012 to 2023, the average annual growth rate of value from Japan totaled X%.
Import Prices by Country
In 2023, the average hot-rolled silico-manganese steel bar import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price faced a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Japan totaled $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for hot-rolled silico-manganese steel bar 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 24106620 - Hot-rolled bars of silico-manganese steel
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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