Republic of Korea: Stainless Steel Angle Market 2025

Stainless Steel Angle Market Size in Republic of Korea

In 2021, the South Korean stainless steel angle market increased by 152% to $X, rising for the second consecutive year after three years of decline. In general, consumption showed a noticeable increase. Stainless steel angle consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Stainless Steel Angle Production in Republic of Korea

In value terms, stainless steel angle production declined markedly to $X in 2021 estimated in export price. Overall, production, however, showed a buoyant expansion. The growth pace was the most rapid in 2020 when the production volume increased by 129%. As a result, production reached the peak level of $X, and then reduced dramatically in the following year.

Stainless Steel Angle Exports

Exports from Republic of Korea

After six years of growth, overseas shipments of angles, shapes and sections of stainless steel or other alloy steel decreased by -48.1% to X tons in 2021. In general, exports, however, continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2017 when exports increased by 96% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell sharply in the following year.

In value terms, stainless steel angle exports fell sharply to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 110%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Vietnam (X tons) and Japan (X tons) were the main destinations of stainless steel angle exports from South Korea, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +322.4%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Vietnam ($X) and Japan ($X) constituted the largest markets for stainless steel angle exported from South Korea worldwide, together comprising 96% of total exports.

Turkey, with a CAGR of +198.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average stainless steel angle export price amounted to $X per ton, picking up by 40% against the previous year. Overall, the export price, however, showed a noticeable reduction. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Turkey ($X 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 Malaysia (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Angle Imports

Imports into Republic of Korea

In 2021, after four years of decline, there was significant growth in purchases abroad of angles, shapes and sections of stainless steel or other alloy steel, when their volume increased by 283% to X tons. Overall, imports, however, recorded a pronounced decline. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, stainless steel angle imports surged to $X in 2021. In general, imports, however, continue to indicate a slight decrease. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Bahrain (X tons) and Japan (X tons) were the main suppliers of stainless steel angle imports to South Korea, with a combined 96% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of angles, shapes and sections of stainless steel or other alloy steel to South Korea, comprising 48% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 22% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (+17.2% per year) and India (-1.6% per year).

Import Prices by Country

In 2021, the average stainless steel angle import price amounted to $X per ton, falling by -30.2% against the previous year. Over the period under review, the import price, however, saw a slight expansion. The pace of growth was the most pronounced in 2018 an increase of 67%. The import price peaked at $X per ton in 2020, and then dropped rapidly in the following year.

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 India ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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