Report Update: May 1, 2024

Republic of Korea - Angles, Shapes And Sections (Of Iron Or Non-Alloy Steel) - Market Analysis, Forecast, Size, Trends and Insights

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Iron Angle Price in South Korea - 2022

Iron Angle Price in South Korea (FOB) - 2022

In 2022, the average iron angle export price amounted to $659 per ton, with a decrease of -19.2% against the previous year. Overall, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2021 an increase of 53% against the previous year. As a result, the export price reached the peak level of $815 per ton, and then contracted notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($858 per ton), while the average price for exports to Turkey ($416 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 the United States (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Price in South Korea (CIF) - 2022

The average iron angle import price stood at $824 per ton in December 2022, growing by 7.3% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $928 per ton in June 2022; however, from July 2022 to December 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In December 2022, the country with the highest price was Vietnam ($847 per ton), while the price for China ($669 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.9%), while the prices for the other major suppliers experienced a decline.

Iron Angle Exports in South Korea

In 2022, approx. 1M tons of angles, shapes and sections (of iron or non-alloy steel) were exported from South Korea; surging by 12% against the year before. The total export volume increased at an average annual rate of +6.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 33%. As a result, the exports reached the peak of 1.2M tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron angle exports declined to $689M in 2022. The total export value increased at an average annual rate of +4.5% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, the exports attained the peak of $759M, and then shrank in the following year.

Export of Iron Angle in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	87.2	73.3	151	123	12.1%
United States	63.7	56.9	108	87.1	11.0%
Malaysia	49.9	98.2	56.3	82.0	18.0%
Australia	24.8	21.8	69.3	57.1	32.0%
Taiwan (Chinese)	32.9	34.7	43.8	35.2	2.3%
Saudi Arabia	25.5	38.0	35.1	34.3	10.4%
Japan	44.8	38.1	24.4	29.3	-13.2%
Philippines	34.9	28.3	35.0	28.9	-6.1%
Mexico	24.0	3.8	33.0	26.8	3.7%
United Arab Emirates	12.9	48.6	18.6	26.3	26.8%
Hong Kong SAR	24.6	33.6	23.7	22.2	-3.4%
Singapore	23.7	15.2	22.3	17.2	-10.1%
Turkey	2.0	16.4	16.2	13.0	86.6%
Others	154	113	123	107	-11.4%
Total	605	620	759	689	4.4%

Top Export Markets for Iron Angle from South Korea in 2022:

Canada (169.6K tons)
Malaysia (140.5K tons)
United States (101.5K tons)
Australia (73.7K tons)
Saudi Arabia (65.9K tons)
Japan (56.4K tons)
Taiwan (Chinese) (54.3K tons)
Philippines (46.8K tons)
United Arab Emirates (43.0K tons)
Hong Kong SAR (41.8K tons)
Mexico (32.8K tons)
Turkey (31.2K tons)
Singapore (27.1K tons)

Iron Angle Imports in South Korea

Iron angle imports into South Korea declined slightly to 1.1M tons in 2022, approximately equating 2021 figures. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 3.1%. As a result, imports attained the peak of 1.1M tons, and then reduced modestly in the following year.

In value terms, iron angle imports contracted to $593M in 2022. In general, imports saw a slight shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of $661M, and then contracted in the following year.

Import of Iron Angle in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	266	267	350	288	2.7%
China	157	109	117	141	-3.5%
Vietnam	111	86.3	115	97.9	-4.1%
Bahrain	60.5	42.1	53.6	44.8	-9.5%
Taiwan (Chinese)	2.4	7.7	12.6	9.7	59.3%
Others	14.0	13.5	12.8	11.4	-6.6%
Total	612	525	661	593	-1.0%

Top Suppliers of Iron Angle to South Korea in 2022:

Japan (507.0K tons)
China (336.6K tons)
Vietnam (149.6K tons)
Bahrain (76.0K tons)
Taiwan (Chinese) (18.5K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the iron angle 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)
Prodcom 24107120 - I-sections of a web height of .80 mm or more (of non-alloy steel)
Prodcom 24107130 - H-sections of a web height of .80 mm or more (of non-alloy steel)
Prodcom 24107140 - Other open sections, not further worked than hot-rolled, hotdrawn or extruded, 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.

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