Republic of Korea: Metal Rivet Market 2025

Metal Rivet Market Size in Republic of Korea

In 2022, the South Korean metal rivet market increased by 12% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a noticeable slump. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Metal Rivet Production in Republic of Korea

In value terms, metal rivet production declined slightly to $X in 2022 estimated in export price. Overall, production recorded a mild descent. The pace of growth was the most pronounced in 2018 when the production volume increased by 21% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Metal Rivet Exports

Exports from Republic of Korea

In 2022, the amount of iron or steel rivets exported from South Korea shrank rapidly to X tons, which is down by -19.1% against 2021 figures. In general, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 34%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal rivet exports contracted modestly to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when exports increased by 33% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of metal rivet exports from South Korea, together accounting for 56% of total exports. The Czech Republic, Mexico, China, Brazil, India, Turkey, Egypt and Thailand lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +277.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and Japan ($X) were the largest markets for metal rivet exported from South Korea worldwide, together accounting for 46% of total exports. China, Brazil, Vietnam, India, Egypt, Thailand, Turkey and the Czech Republic lagged somewhat behind, together comprising a further 42%.

In terms of the main countries of destination, Egypt, with a CAGR of +304.3%, 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

The average metal rivet export price stood at $X per ton in 2022, surging by 18% against the previous year. In general, the export price, however, showed a mild curtailment. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Rivet Imports

Imports into Republic of Korea

In 2022, supplies from abroad of iron or steel rivets increased by 3.7% to X tons, rising for the fourth year in a row after three years of decline. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.9% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 33% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, metal rivet imports reduced modestly to $X in 2022. Overall, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 31% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal rivet to South Korea, accounting for a 63% share of total imports. Moreover, metal rivet imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sixfold. Japan (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+124.3% per year) and Japan (-3.7% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel rivets to South Korea, comprising 29% of total imports. The second position in the ranking was held by Germany ($X), with a 6.4% share of total imports. It was followed by Japan, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.3% per year) and Japan (-13.2% per year).

Import Prices by Country

In 2022, the average metal rivet import price amounted to $X per ton, which is down by -3.6% against the previous year. In general, the import price saw a pronounced reduction. The most prominent rate of growth was recorded in 2013 an increase of 13% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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