Republic of Korea: Market for Welded Link Chain Of Iron Or Steel 2025

Market Size for Welded Link Chain Of Iron Or Steel in Republic of Korea

The South Korean metal welded link chain market amounted to $X in 2021, growing by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +88.6% against 2017 indices. Metal welded link chain consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Exports of Welded Link Chain Of Iron Or Steel

Exports from Republic of Korea

In 2021, approx. X tons of welded link chain of iron or steel were exported from South Korea; declining by -3.6% against the previous year's figure. Over the period under review, exports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 372% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, metal welded link chain exports stood at $X in 2021. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 571% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X tons), Russia (X tons) and the United States (X tons) were the main destinations of metal welded link chain exports from South Korea, together accounting for 69% 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 Russia (with a CAGR of +45.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal welded link chain exported from South Korea were Russia ($X), Romania ($X) and the United States ($X), with a combined 55% share of total exports.

In terms of the main countries of destination, Russia, with a CAGR of +38.9%, 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

In 2021, the average metal welded link chain export price amounted to $X per ton, with an increase of 9.1% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal welded link chain export price increased by +25.0% against 2016 indices. The growth pace was the most rapid in 2013 an increase of 42%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Romania ($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 Vietnam (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Welded Link Chain Of Iron Or Steel

Imports into Republic of Korea

In 2021, imports of welded link chain of iron or steel into South Korea stood at X tons, approximately reflecting the year before. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 55%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, metal welded link chain imports soared to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 77% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal welded link chain to South Korea, with a 69% share of total imports. Moreover, metal welded link chain imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), tenfold. The third position in this ranking was held by the United States (X tons), with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.4% per year) and the United States (+5.9% per year).

In value terms, China ($X) constituted the largest supplier of welded link chain of iron or steel to South Korea, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 9.4% share of total imports. It was followed by Spain, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.0% per year) and Spain (+1.4% per year).

Import Prices by Country

The average metal welded link chain import price stood at $X per ton in 2021, rising by 17% against the previous year. Overall, import price indicated noticeable 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 welded link chain import price increased by +36.3% against 2017 indices. The growth pace was the most rapid in 2014 an increase of 31% 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 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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