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Republic of Korea - Hot-Rolled Wire Rods in Coils - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Hot-Rolled Wire Rods in Coils 2024
Market Size for Hot-Rolled Wire Rods in Coils in Republic of Korea
In 2023, the South Korean market for hot-rolled wire rods in coils decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, the total consumption indicated a modest increase 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, consumption increased by X% against 2020 indices. Hot-rolled wire rod in coils consumption peaked at $X in 2022, and then declined in the following year.
Production of Hot-Rolled Wire Rods in Coils in Republic of Korea
In value terms, hot-rolled wire rod in coils production contracted to $X in 2023 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2022, and then declined in the following year.
Exports of Hot-Rolled Wire Rods in Coils
Exports from Republic of Korea
In 2023, overseas shipments of hot-rolled wire rods in coils increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.
In value terms, hot-rolled wire rod in coils exports rose remarkably to $X in 2023. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.
Exports by Country
Japan (X tons), Vietnam (X tons) and Malaysia (X tons) were the main destinations of hot-rolled wire rod in coils exports from South Korea, together accounting for X% of total exports. Thailand, Taiwan (Chinese), the United States, China, Indonesia, India, the Philippines, Slovenia and Turkey lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Japan ($X), Vietnam ($X) and Malaysia ($X) were the largest markets for hot-rolled wire rod in coils exported from South Korea worldwide, with a combined X% share of total exports. Taiwan (Chinese), Thailand, China, the United States, India, Indonesia, Slovenia, Turkey and the Philippines lagged somewhat behind, together comprising a further X%.
Among the main countries of destination, Slovenia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average export price for hot-rolled wire rods in coils amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2022, and then dropped in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the Philippines ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hot-Rolled Wire Rods in Coils
Imports into Republic of Korea
In 2023, after two years of growth, there was significant decline in supplies from abroad of hot-rolled wire rods in coils, when their volume decreased by X% to X tons. In general, imports, however, recorded a pronounced increase. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, hot-rolled wire rod in coils imports reduced to $X in 2023. Overall, imports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2022, and then declined in the following year.
Imports by Country
In 2023, China (X tons) constituted the largest supplier of hot-rolled wire rod in coils to South Korea, with a X% share of total imports. Moreover, hot-rolled wire rod in coils imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Vietnam (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Vietnam (X% per year).
In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) appeared to be the largest hot-rolled wire rod in coils suppliers to South Korea, with a combined X% share of total imports. Vietnam, Malaysia and India lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to 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
The average import price for hot-rolled wire rods in coils stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the import price recorded a slight contraction. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (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 wire rod in coils 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 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
- Prodcom 24106120 - Wire rod of free-cutting steel
- Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
- Prodcom 24106140 - Wire rod for tyre cord
- Prodcom 24106190 - Other wire rod (of non-alloy steel)
- Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless 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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