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Republic of Korea - Iron or Steel Leaf-Springs and Leaves - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Iron or Steel Leaf-Springs and Leaves 2024
Market Size for Iron or Steel Leaf-Springs and Leaves in Republic of Korea
The South Korean iron or steel leaf-spring market rose slightly to $X in 2023, growing by X% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market remained at a somewhat lower figure.
Production of Iron or Steel Leaf-Springs and Leaves in Republic of Korea
In value terms, iron or steel leaf-spring production expanded markedly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a somewhat lower figure.
Exports of Iron or Steel Leaf-Springs and Leaves
Exports from Republic of Korea
In 2023, overseas shipments of iron or steel leaf-springs and leaves were finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
In value terms, iron or steel leaf-spring exports expanded markedly to $X in 2023. Overall, exports, however, continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2015 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
Exports by Country
Japan (X tons) was the main destination for iron or steel leaf-spring exports from South Korea, accounting for a X% share of total exports. Moreover, iron or steel leaf-spring exports to Japan exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. The third position in this ranking was held by China (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and China (X% per year).
In value terms, Japan ($X), China ($X) and Vietnam ($X) were the largest markets for iron or steel leaf-spring exported from South Korea worldwide, together comprising X% of total exports.
Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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 iron or steel leaf-spring export price amounted to $X per ton, leveling off at the previous year. Overall, export price indicated perceptible growth from 2012 to 2023: its price 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, iron or steel leaf-spring export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; afterwards, it flattened through to 2023.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Japan ($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 mixed trend patterns.
Imports of Iron or Steel Leaf-Springs and Leaves
Imports into Republic of Korea
In 2023, overseas purchases of iron or steel leaf-springs and leaves decreased by X% to X tons for the first time since 2017, thus ending a five-year rising trend. Overall, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X tons in 2022, and then dropped in the following year.
In value terms, iron or steel leaf-spring imports fell slightly to $X in 2023. Over the period under review, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then shrank slightly in the following year.
Imports by Country
China (X tons), Indonesia (X tons) and Vietnam (X tons) were the main suppliers of iron or steel leaf-spring imports to South Korea, together comprising X% of total imports. Malaysia, Germany, Turkey and Belgium lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Germany (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, China ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to South Korea, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with an X% share of total imports. It was followed by Germany, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Germany (X% per year).
Import Prices by Country
The average iron or steel leaf-spring import price stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. In general, the import price saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.
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 iron or steel leaf-spring 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 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
- Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
- Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
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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