Report Update: Apr 1, 2024

Republic of Korea - Concrete Reinforcing Bars - Market Analysis, Forecast, Size, Trends And Insights

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Concrete Reinforcing Bar Price in South Korea - 2022

Concrete Reinforcing Bar Price in South Korea (CIF) - 2022

The average concrete reinforcing bar import price stood at $605 per ton in December 2022, shrinking by -2.5% against the previous month. Over the period under review, the import price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in May 2022 an increase of 4.1% month-to-month. Over the period under review, average import prices reached the peak figure at $868 per ton in December 2021; however, from January 2022 to December 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($614 per ton), while the price for China stood at $594 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Japan (-2.6%), while the prices for the other major suppliers experienced a decline.

Concrete Reinforcing Bar Price in South Korea (FOB) - 2022

The average concrete reinforcing bar export price stood at $1,051 per ton in 2022, growing by 26% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar export price increased by +73.8% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 38% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($1,592 per ton), while the average price for exports to Kuwait ($338 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Reinforcing Bar Imports in South Korea

Concrete reinforcing bar imports into South Korea plummeted to 652K tons in 2022, with a decrease of -34.9% compared with 2021 figures. Over the period under review, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 101% against the previous year. As a result, imports reached the peak of 1M tons, and then declined sharply in the following year.

In value terms, concrete reinforcing bar imports dropped significantly to $451M in 2022. Overall, imports, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2021 with an increase of 233% against the previous year. As a result, imports attained the peak of $783M, and then fell markedly in the following year.

Import of Concrete Reinforcing Bar in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	114	78.4	303	202	21.0%
China	246	138	329	135	-18.1%
Taiwan (Chinese)	55.4	14.4	144	109	25.3%
Others	4.0	4.4	7.6	4.8	6.3%
Total	420	235	783	451	2.4%

Top Suppliers of Concrete Reinforcing Bar to South Korea in 2022:

Japan (338.0K tons)
China (177.8K tons)
Taiwan (Chinese) (129.7K tons)

Concrete Reinforcing Bar Exports in South Korea

In 2022, approx. 115K tons of concrete reinforcing bars were exported from South Korea; with a decrease of -55.8% against the year before. Over the period under review, exports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year.

In value terms, concrete reinforcing bar exports dropped sharply to $121M in 2022. In general, exports faced a abrupt slump. The pace of growth appeared the most rapid in 2021 when exports increased by 54% against the previous year. As a result, the exports reached the peak of $217M, and then declined sharply in the following year.

Export of Concrete Reinforcing Bar in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	37.2	22.5	54.1	27.9	-9.1%
Brazil	N/A	N/A	N/A	10.8	0%
Taiwan (Chinese)	14.9	12.2	13.5	7.0	-22.3%
Japan	24.3	9.6	15.9	6.1	-36.9%
Myanmar	4.7	11.9	11.7	6.0	8.5%
Vietnam	12.9	8.2	11.7	6.0	-22.5%
Australia	9.3	3.1	12.7	5.8	-14.6%
Indonesia	11.6	5.9	9.3	4.8	-25.5%
Mexico	6.7	4.3	8.8	4.5	-12.4%
Germany	5.4	3.1	8.0	4.3	-7.3%
Guam	5.5	6.5	7.6	3.9	-10.8%
India	13.9	11.9	7.5	3.1	-39.4%
Kuwait	3.4	3.1	3.2	1.7	-20.6%
Others	48.5	38.3	52.6	29.1	-15.7%
Total	198	141	217	121	-15.1%

Top Export Markets for Concrete Reinforcing Bar from South Korea in 2022:

Thailand (24.5K tons)
Myanmar (9.5K tons)
Taiwan (Chinese) (7.9K tons)
Brazil (6.8K tons)
Vietnam (5.9K tons)
Japan (5.4K tons)
Kuwait (5.1K tons)
Australia (4.6K tons)
India (4.5K tons)
Indonesia (4.1K tons)
Germany (4.0K tons)
Mexico (3.8K tons)
Guam (3.7K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the concrete reinforcing bar 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 2410T241 - Concrete reinforcing bars
Prodcom 24106210 - Hot-rolled concrete reinforcing bars

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023