Steel in South Korea

Steel in South Korea

Summary

Steel in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• Steel market consists of the production of crude steel in the stated country or region. Crude steel production refers to the production of the first solid steel products upon solidification of liquid steel. It includes ingots (in conventional mills) and semis (in modern mills with continuous casting facilities). Crude steel also includes liquid steel, which goes into the production of steel castings.
• The South Korean steel market recorded revenues of $56,863.5 million in 2023, representing a compound annual growth rate (CAGR) of 4.1% between 2018 and 2023.
• Market production volumes declined with a negative CAGR of 1.6% between 2018 and 2023, reaching a total of 66,683.3 thousand tonnes in 2023.
• The increase in real Gross Value Added (GVA) in industry annual growth has been a key driver for the steel market. In 2023, the South Korean real GVA in the industrial sector grew by 1.1%, according to the United Nations Statistics Division (UNSTAT). This rise in industrial activity led to higher steel consumption for machinery, equipment, and construction materials.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the steel market in South Korea
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the steel market in South Korea
• Leading company profiles reveal details of key steel market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the South Korea steel market with five year forecasts

Reasons to Buy

• What was the size of the South Korea steel market by value in 2023?
• What will be the size of the South Korea steel market in 2028?
• What factors are affecting the strength of competition in the South Korea steel market?
• How has the market performed over the last five years?
• What are the main segments that make up South Korea's steel market?