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Republic of Korea - Hot-Rolled Bars In Free-Cutting Steels - Market Analysis, Forecast, Size, Trends And Insights
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Republic of Korea: Hot-Rolled Free-Cutting Steel Market Overview 2021

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Hot-Rolled Free-Cutting Steel Market Size in Republic of Korea

After two years of decline, the South Korean hot-rolled free-cutting steel market increased by X% to $X in 2020. Overall, consumption continues to indicate a strong expansion. The growth pace was the most rapid in 2014 when the market value increased by X% year-to-year. Hot-rolled free-cutting steel consumption peaked at $X in 2015; however, from 2016 to 2020, consumption remained at a lower figure.

Hot-Rolled Free-Cutting Steel Production in Republic of Korea

In value terms, hot-rolled free-cutting steel production soared to $X in 2020 estimated in export prices. In general, production saw a prominent expansion. The growth pace was the most rapid in 2015 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. From 2016 to 2020, production growth remained at a lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports from Republic of Korea

Hot-rolled free-cutting steel exports from South Korea contracted dramatically to X tonnes in 2020, declining by -X% compared with the previous year. Overall, exports recorded a significant decrease. The smallest decline of -X% was in 2009. Exports peaked at X tonnes in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel exports expanded sharply to $X in 2020. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Exports peaked at $X in 2015; however, from 2016 to 2020, exports failed to regain the momentum.

Exports by Country

China (X tonnes) was the main destination for hot-rolled free-cutting steel exports from South Korea, with a X% share of total exports. Moreover, hot-rolled free-cutting steel exports to China exceeded the volume sent to the second major destination, Canada (X tonnes), fourfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to China amounted to -X%.

In value terms, China ($X) emerged as the key foreign market for hot-rolled free-cutting steel exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to China stood at -X%.

Export Prices by Country

In 2020, the average hot-rolled free-cutting steel export price amounted to $X per tonne, surging by X% against the previous year. In general, the export price saw a buoyant expansion. The growth pace was the most rapid in 2014 an increase of X% y-o-y. The export price peaked at $X per tonne in 2015; however, from 2016 to 2020, export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2020, the country with the highest price was Canada ($X per tonne), while the average price for exports to China amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Canada.

Hot-Rolled Free-Cutting Steel Imports

Imports into Republic of Korea

For the fourth year in a row, South Korea recorded decline in supplies from abroad of hot-rolled bars in free-cutting steels, which decreased by -X% to X tonnes in 2020. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. As a result, imports reached the peak of X tonnes. From 2015 to 2020, the growth imports failed to regain the momentum.

In value terms, hot-rolled free-cutting steel imports dropped to $X in 2020. Over the period under review, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2009 with an increase of X% y-o-y. Imports peaked at $X in 2010; however, from 2011 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Japan (X tonnes) was the main hot-rolled free-cutting steel supplier to South Korea, with a approx. X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from Japan amounted to +X%.

In value terms, Japan ($X) constituted the largest supplier of hot-rolled free-cutting steel to South Korea.

From 2007 to 2020, the average annual growth rate of value from Japan amounted to +X%.

Import Prices by Country

In 2020, the average hot-rolled free-cutting steel import price amounted to $X per tonne, declining by -X% against the previous year. In general, the import price showed a noticeable setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2010; however, from 2011 to 2020, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Japan.

From 2007 to 2020, the rate of growth in terms of prices for Japan amounted to -X% per year.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hot-rolled bars in free-cutting steels in the world?
+
The countries with the highest volumes of hot-rolled free-cutting steel consumption in 2020 were China (852K tonnes), the U.S. (454K tonnes) and India (329K tonnes), with a combined 41% share of global consumption. These countries were followed by Japan, Germany, Russia, Singapore, the UK, France, Turkey, Iran, South Korea and Italy, which together accounted for a further 28%.
What are the largest producers of hot-rolled bars in free-cutting steels in the world?
+
The countries with the highest volumes of hot-rolled free-cutting steel production in 2020 were China (852K tonnes), the U.S. (435K tonnes) and India (330K tonnes), together comprising 41% of global production. These countries were followed by Japan, Germany, Russia, Saudi Arabia, France, the UK, Turkey, Iran, South Korea and Canada, which together accounted for a further 29%.
What are the leading suppliers of hot-rolled bars in free-cutting steels to Republic of Korea?
+
In value terms, Japan ($1.4M) constituted the largest supplier of hot-rolled free-cutting steel to South Korea.
What are the leading importers of hot-rolled bars in free-cutting steels from Republic of Korea?
+
In value terms, China ($224K) emerged as the key foreign market for hot-rolled free-cutting steel exports from South Korea, comprising 78% of total exports. The second position in the ranking was occupied by Canada ($65K), with a 22% share of total exports.
What is the average export price for hot-rolled bars in free-cutting steels in Republic of Korea?
+
In 2020, the average hot-rolled free-cutting steel export price amounted to $758 per tonne, increasing by 33% against the previous year.
What is the average import price for hot-rolled bars in free-cutting steels in Republic of Korea?
+
In 2020, the average hot-rolled free-cutting steel import price amounted to $543 per tonne, shrinking by -4.4% against the previous year.

Product coverage:
• Prodcom 24106230 - Hot-rolled bars in free-cutting steels

This report provides an in-depth analysis of the hot-rolled free-cutting steel 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 2025.


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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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