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Republic of Korea - Tube or Pipe Fittings (Of Iron or Steel) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024
Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in Republic of Korea
The South Korean market for tube or pipe fittings (of iron or steel) rose rapidly to $X in 2023, increasing by X% against the previous year. In general, the total consumption indicated a buoyant expansion 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 decreased by X% against 2021 indices. Iron or steel tube fitting consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.
Production of Tube Or Pipe Fittings (Of Iron Or Steel) in Republic of Korea
In value terms, iron or steel tube fitting production reached $X in 2023 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Iron or steel tube fitting production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.
Exports of Tube Or Pipe Fittings (Of Iron Or Steel)
Exports from Republic of Korea
In 2023, approx. X tons of tube or pipe fittings (of iron or steel) were exported from South Korea; dropping by X% on the year before. In general, exports saw a deep downturn. The growth pace was the most rapid in 2022 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
In value terms, iron or steel tube fitting exports shrank to $X in 2023. Overall, exports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
Exports by Country
The United States (X tons) was the main destination for iron or steel tube fitting exports from South Korea, with a X% share of total exports. Moreover, iron or steel tube fitting exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), sixfold. Canada (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Canada (X% per year).
In value terms, the United States ($X) remains the key foreign market for tube or pipe fittings (of iron or steel) exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by China ($X), with an X% share of total exports. It was followed by Japan, with an X% share.
From 2012 to 2023, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).
Export Prices by Country
In 2023, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, standing approx. at the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2022, and then contracted in the following year.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Turkey ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tube Or Pipe Fittings (Of Iron Or Steel)
Imports into Republic of Korea
In 2023, the amount of tube or pipe fittings (of iron or steel) imported into South Korea dropped slightly to X tons, remaining relatively unchanged against the previous year's figure. Over the period under review, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.
In value terms, iron or steel tube fitting imports reduced to $X in 2023. In general, imports recorded a slight slump. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, China (X tons) was the main supplier of iron or steel tube fitting to South Korea, with a X% share of total imports. It was followed by Vietnam (X tons), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Italy (X% per year).
In value terms, China ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to South Korea, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Vietnam (X% per year).
Import Prices by Country
In 2023, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, dropping by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for iron or steel tube fitting 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 24204010 - Flanges, of steel (excluding cast fittings)
- Prodcom 24204030 - Elbows, bends, couplings, sleeves and other threaded tube or pipe fittings, of steel (excluding cast fittings)
- Prodcom 24204050 - Elbows, bends, couplings and sleeves and other socket welding tube or pipe fittings, of steel (excluding cast fittings)
- Prodcom 24204073 - Butt welding elbows and bends, for tubes or pipes, of steel (excluding cast fittings)
- Prodcom 24204075 - Butt welding tube or pipe fittings, other than elbows and bends, of steel (excluding cast fittings)
- Prodcom 24513030 - Tube or pipe fittings, of non-malleable cast iron
- Prodcom 24513050 - Tube or pipe fittings of malleable cast iron
- Prodcom 24523000 - Tube or pipe fittings of cast 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
-
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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