Republic of Korea - Table, Kitchen or Household Articles and Parts of Iron - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Iron Household Articles Market 2024
Iron Household Articles Market Size in Republic of Korea
The South Korean iron household articles market declined to $X in 2023, dropping by X% against the previous year. In general, the total consumption indicated perceptible growth from 2012 to 2023: its value 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, consumption increased by X% against 2021 indices. Iron household articles consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.
Iron Household Articles Production in Republic of Korea
In value terms, iron household articles production reduced to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.
Iron Household Articles Exports
Exports from Republic of Korea
In 2023, exports of table, kitchen or household articles and parts of iron from South Korea skyrocketed to X tons, increasing by X% compared with the previous year's figure. Overall, exports showed a noticeable expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.
In value terms, iron household articles exports rose rapidly to $X in 2023. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports remained at a lower figure.
Exports by Country
Nigeria (X tons) was the main destination for iron household articles exports from South Korea, with a X% share of total exports. Moreover, iron household articles exports to Nigeria exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was taken by the Philippines (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Nigeria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Philippines (X% per year).
In value terms, the United States ($X), the Philippines ($X) and Nigeria ($X) appeared to be the largest markets for iron household articles exported from South Korea worldwide, together comprising X% of total exports.
Among the main countries of destination, Nigeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 iron household articles export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nigeria ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.
Iron Household Articles Imports
Imports into Republic of Korea
In 2023, overseas purchases of table, kitchen or household articles and parts of iron decreased by X% to X tons for the first time since 2011, thus ending a eleven-year rising trend. Over the period under review, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2022, and then fell in the following year.
In value terms, iron household articles imports declined to $X in 2023. Overall, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then declined modestly in the following year.
Imports by Country
In 2023, China (X tons) was the main iron household articles supplier to South Korea, with a X% share of total imports. It was followed by Germany (X tons), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Vietnam (X% per year).
In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of iron to South Korea, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Vietnam (X% per year).
Import Prices by Country
In 2023, the average iron household articles import price amounted to $X per ton, falling by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the iron household articles 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 25991245 - Table, kitchen or household articles and parts thereof of iron other than cast iron, or steel other than stainless (excl. enamelled)
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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