Republic of Korea: Metal Skid Chain Market 2025

Metal Skid Chain Market Size in Republic of Korea

The South Korean metal skid chain market reduced to $X in 2021, falling by -7.3% against the previous year. Overall, consumption continues to indicate a deep contraction. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Metal Skid Chain Production in Republic of Korea

In value terms, metal skid chain production declined to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of 65%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Metal Skid Chain Exports

Exports from Republic of Korea

In 2021, approx. X tons of iron or steel skid chain were exported from South Korea; jumping by 110% compared with 2020. In general, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 569%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal skid chain exports surged to $X in 2021. Overall, exports recorded a prominent increase. The growth pace was the most rapid in 2015 when exports increased by 669%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for metal skid chain exports from South Korea, accounting for a 53% share of total exports. Moreover, metal skid chain exports to Italy exceeded the volume sent to the second major destination, Sri Lanka (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Italy totaled +59.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+159.0% per year) and Japan (+43.7% per year).

In value terms, Italy ($X) remains the key foreign market for iron or steel skid chain exports from South Korea, comprising 56% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Japan, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy stood at +50.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+62.1% per year) and Japan (+35.3% per year).

Export Prices by Country

In 2021, the average metal skid chain export price amounted to $X per ton, declining by -4.3% against the previous year. Overall, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal skid chain export price increased by +21.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 77%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($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 the United States (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Skid Chain Imports

Imports into Republic of Korea

Metal skid chain imports into South Korea shrank remarkably to X tons in 2021, declining by -31.7% against 2020 figures. In general, imports saw a drastic downturn. The growth pace was the most rapid in 2016 when imports increased by 248%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, metal skid chain imports reduced remarkably to $X in 2021. Overall, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2016 when imports increased by 71% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal skid chain to South Korea, with a 57% share of total imports. Moreover, metal skid chain imports from China exceeded the figures recorded by the second-largest supplier, Austria (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-1.3% per year) and Germany (-19.8% per year).

In value terms, China ($X), Austria ($X) and Switzerland ($X) were the largest metal skid chain suppliers to South Korea, with a combined 56% share of total imports. Germany, the United States, Singapore and Canada lagged somewhat behind, together accounting for a further 7.6%.

In terms of the main suppliers, Canada, with a CAGR of +19.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average metal skid chain import price amounted to $X per ton, increasing by 21% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 140% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

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 the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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