Republic of Korea - Iron or Steel Wire Products - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingPrice for Iron or Steel Wire Product in South Korea - 2022
Contents:
- Price for Iron or Steel Wire Product in South Korea (FOB) - 2022
- Price for Iron or Steel Wire Product in South Korea (CIF) - 2022
- Exports of Iron or Steel Wire Product in South Korea
- Imports of Iron or Steel Wire Product in South Korea
Price for Iron or Steel Wire Product in South Korea (FOB) - 2022
The average export price for iron or steel wire products stood at $2,623 per ton in 2021, rising by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2017 an increase of 32% against the previous year. As a result, the export price attained the peak level of $3,265 per ton. From 2018 to 2021, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($4,437 per ton), while the average price for exports to Finland ($1,086 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+8.1%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Iron or Steel Wire Product in South Korea (CIF) - 2022
In 2021, the average import price for iron or steel wire products amounted to $2,328 per ton, falling by -6% against the previous year. Overall, the import price, however, showed resilient growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 87% against the previous year. The import price peaked at $2,858 per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($6,649 per ton), while the price for China totaled $2,124 per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.3%).
Exports of Iron or Steel Wire Product in South Korea
In 2022, after two years of decline, there was significant growth in shipments abroad of iron or steel wire products, when their volume increased by 8.1% to 14K tons. Over the period under review, exports, however, continue to indicate a abrupt contraction.
In value terms, iron or steel wire product exports contracted slightly to $32M in 2022. Overall, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2021 when exports increased by 6.2%.
| Export of Iron or Steel Wire Product in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| United States | 7.9 | 10.5 | 9.7 | 10.8% | |
| Peru | 5.8 | 0.6 | 3.2 | -25.7% | |
| United Arab Emirates | 0.9 | 1.1 | 2.6 | 70.0% | |
| Vietnam | 1.0 | 1.1 | 2.2 | 48.3% | |
| Finland | 3.7 | 2.4 | 1.8 | -30.3% | |
| Mexico | 0.3 | 0.1 | 1.7 | 138.0% | |
| Belgium | 2.4 | 1.5 | 1.5 | -20.9% | |
| Colombia | 3.0 | 2.1 | 1.1 | -39.4% | |
| Australia | 1.3 | 0.8 | 1.0 | -12.3% | |
| Taiwan (Chinese) | 1.2 | 0.9 | 0.8 | -18.4% | |
| Turkey | 1.1 | 0.5 | 0.5 | -32.6% | |
| New Zealand | 0.4 | 0.4 | 0.4 | 0.0% | |
| Nepal | 0.1 | 0.3 | 0.3 | 73.2% | |
| Others | 14.8 | 9.1 | 6.6 | -33.2% | |
| Total | 43.9 | 31.5 | 33.4 | -12.8% | |
Top Export Markets for Iron or Steel Wire Product from South Korea in 2022:
- Peru (2.7K tons)
- United States (2.4K tons)
- United Arab Emirates (2.2K tons)
- Finland (1.6K tons)
- Belgium (1.4K tons)
- Colombia (0.7K tons)
- Taiwan (Chinese) (0.7K tons)
- Australia (0.5K tons)
- Vietnam (0.5K tons)
- Turkey (0.4K tons)
- Mexico (0.4K tons)
- New Zealand (0.4K tons)
- Nepal (0.3K tons)
Imports of Iron or Steel Wire Product in South Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of iron or steel wire products, when their volume decreased by -15.5% to 17K tons. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +18.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. As a result, imports reached the peak of 20K tons, and then declined sharply in the following year.
In value terms, iron or steel wire product imports reduced to $41M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. As a result, imports reached the peak of $47M, and then dropped in the following year.
| Import of Iron or Steel Wire Product in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| China | 17.5 | 20.8 | 24.1 | 17.4% | |
| Japan | 2.1 | 2.2 | 2.0 | -2.4% | |
| Others | 9.0 | 11.5 | 20.7 | 51.7% | |
| Total | 28.6 | 34.4 | 46.8 | 27.9% | |
Top Suppliers of Iron or Steel Wire Product to South Korea in 2022:
- China (11.3K tons)
- Japan (0.3K tons)
This report provides an in-depth analysis of the market for iron or steel wire product 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 25992925 - Finished products of iron/steel wire, snares, traps, etc., fodder ties, animal nose rings, mattress hooks, butchers
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
- 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
-
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
-
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
-
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
-
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
-
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
-
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
264
This report provides an in-depth analysis of the market for iron or steel wire product in Republic of Korea.
169
This report provides an in-depth analysis of the market for steel and iron articles in Republic of Korea.
227
This report provides an in-depth analysis of the market for forged or stamped articles of iron or steel in Republic of Korea.
244
This report provides an in-depth analysis of the market for iron or steel ladders and steps in Republic of Korea.
283
This report provides an in-depth analysis of the market for iron or steel non-mechanical ventilators, guttering and hooks in Republic of Korea.
239
This report provides an in-depth analysis of the iron or steel pallets market in Republic of Korea.
195
This report provides an in-depth analysis of the iron or steel reels market in Republic of Korea.
390
This report provides an in-depth analysis of the global market for iron or steel wire product.
430
This report provides an in-depth analysis of the global market for steel and iron articles.
272
Global Forged Metal Articles Market Report 2018. This report provides an in-depth analysis of the global forged metal articles market.
Nothing found. Please try again.
