Republic of Korea - U-Sections of Non-Alloy Steel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Non-Alloy Steel U-Section Market 2024
Non-Alloy Steel U-Section Market Size in Republic of Korea
In 2023, the South Korean non-alloy steel u-section market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption recorded a deep setback. Non-alloy steel u-section consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.
Non-Alloy Steel U-Section Production in Republic of Korea
In value terms, non-alloy steel u-section production totaled $X in 2023 estimated in export price. In general, production saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Non-alloy steel u-section production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.
Non-Alloy Steel U-Section Exports
Exports from Republic of Korea
After two years of decline, shipments abroad of u-sections of non-alloy steel increased by X% to X tons in 2023. Over the period under review, total exports indicated a slight increase from 2012 to 2023: its volume 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, exports decreased by X% against 2019 indices. The exports peaked at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.
In value terms, non-alloy steel u-section exports skyrocketed to $X in 2023. Overall, total exports indicated slight growth 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, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.
Exports by Country
Australia (X tons) was the main destination for non-alloy steel u-section exports from South Korea, accounting for a X% share of total exports. Moreover, non-alloy steel u-section exports to Australia exceeded the volume sent to the second major destination, Canada (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Taiwan (Chinese) (X% per year).
In value terms, the largest markets for non-alloy steel u-section exported from South Korea were Australia ($X), Canada ($X) and New Zealand ($X), with a combined X% share of total exports.
Canada, with a CAGR of X%, saw the highest rates of growth with regard to 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 non-alloy steel u-section export price amounted to $X per ton, flattening at the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2022, and then shrank in the following year.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Malaysia ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.
Non-Alloy Steel U-Section Imports
Imports into Republic of Korea
Non-alloy steel u-section imports into South Korea fell to X tons in 2023, reducing by X% on the previous year. Over the period under review, total imports indicated a buoyant increase from 2012 to 2023: its volume 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, imports increased by X% against 2021 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.
In value terms, non-alloy steel u-section imports contracted to $X in 2023. Overall, imports, however, posted a prominent increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2022, and then dropped in the following year.
Imports by Country
In 2023, Japan (X tons) constituted the largest supplier of non-alloy steel u-section to South Korea, with a X% share of total imports. Moreover, non-alloy steel u-section imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold.
From 2012 to 2023, the average annual growth rate of volume from Japan totaled X%.
In value terms, Japan ($X) constituted the largest supplier of u-sections of non-alloy steel to South Korea, comprising X% of total imports. The second position in the ranking was held by China ($X), with an 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 non-alloy steel u-section import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2023: its price 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, non-alloy steel u-section import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then shrank modestly in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China totaled $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).
Source: IndexBox Platform
This report provides an in-depth analysis of the non-alloy steel u-section 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 24107110 - U-sections of a web height of .80 mm or more (of non-alloy 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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