The market is dominated by domestic suppliers, as imports account for 6.5% of total market size in 2023. B2B drives market demand, with B2B spending representing 96.0% of total demand in 2023. South Korea has the third largest market size for structural metal products regionally, with demand reaching USD18.0 billion in 2023. Hyundai Steel Co is the largest company in South Korea, generating 5.6% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 11.6% of total production value in 2023. The total number of companies increases in 2023, to 25,164 units. The costs of the industry increase by 2.6% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 8.7% of production value in 2023, the 13th highest regionally. The industry’s exports share decreases in 2023 to 22.9% of total production output. With production value of USD21.3 billion, South Korea accounts for 5.3% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Structural Metal Products in South Korea: ISIC 2811. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Structural Metal Products in South Korea: ISIC 2811 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of basic iron and steel, basic preciuos and non-ferrous metals, casting of metals, coating of metals and mechanical engineering, forming of metal and power metallurgy, metal packaking, wire and other fabricated metal products.
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