openPR Logo
Press release

South Korea Steel Market Expected to Rise at 7.80% CAGR During 2024-2032

02-18-2025 06:44 AM CET | Chemicals & Materials

Press release from: IMARC Group

South Korea steel market

South Korea steel market

๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š ๐’๐ญ๐ž๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ

๐๐š๐ฌ๐ž ๐˜๐ž๐š๐ซ: 2023

๐‡๐ข๐ฌ๐ญ๐จ๐ซ๐ข๐œ๐š๐ฅ ๐˜๐ž๐š๐ซ๐ฌ: 2018-2023

๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ ๐˜๐ž๐š๐ซ๐ฌ: 2024-2032

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐‘๐š๐ญ๐ž: ๐Ÿ•.๐Ÿ–๐ŸŽ% (๐Ÿ๐ŸŽ๐Ÿ๐Ÿ’-๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ)

The South Korea steel market is changing a lot. This is mostly due to new technology, shifting industry needs, and a drive for sustainability. According to IMARC Group, the market size reached USD 54.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 107.77 Billion by 2032, exhibiting a growth rate (๐‚๐€๐†๐‘) ๐จ๐Ÿ ๐Ÿ•.๐Ÿ–๐ŸŽ% during 2024-2032.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/south-korea-steel-market/requestsample

๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š ๐’๐ญ๐ž๐ž๐ฅ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐“๐ซ๐ž๐ง๐๐ฌ ๐š๐ง๐ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ:

The South Korea steel market is changing a lot. This is mostly due to new technology, shifting industry needs, and a drive for sustainability. South Korea is a top steel producer in the world. It supplies high-quality steel for the automotive, construction, shipbuilding, and infrastructure sectors. Manufacturers need strong, lightweight steel alloys. This helps improve mileage in vehicles and increases strength in buildings and bridges. The automotive industry is a major consumer of high-strength steel. With the growing demand for electric vehicles, the need for steel parts will keep rising. Shipbuilding is still a key driver of steel demand in South Korea. This is especially true with rising investments in eco-friendly and LNG-powered ships. Steel producers are investing a lot in research and development. They focus on high-performance, corrosion-resistant, and energy-efficient steel solutions. This response comes from recent changes in the industry.

A major trend in the South Korea steel market is sustainability. There is a growing emphasis on green steel production. Hydrogen-based steelmaking, electric arc furnaces (EAFs), and carbon capture are gaining popularity. This shift is reducing the reliance on traditional coal-based blast furnaces. Regulatory pressures and global environmental commitments are driving this shift. Companies must adopt low-carbon technologies and sustainable supply chain practices. The circular economy approach is getting more attention. Efforts to recycle and reuse steel are increasing. This helps reduce the impact on the environment. These changes also boost teamwork among steelmakers, government groups, and tech firms. They want to find ways to reduce emissions and improve energy efficiency in the industry. Sustainability concerns are shaping global trade policies and investment trends. So, South Korea's steel industry will change. It will move towards greener, smarter, and more durable production methods. This transition will align the company's steel sector with global sustainability goals. It will also help secure long-term growth in a market that cares more about the environment.

๐๐ฎ๐ฒ ๐…๐ฎ๐ฅ๐ฅ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/checkout?id=21194&method=1262

๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š ๐’๐ญ๐ž๐ž๐ฅ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

๐“๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ก๐š๐ฌ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ž๐ ๐ญ๐ก๐ž ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ž ๐Ÿ๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐  ๐œ๐š๐ญ๐ž๐ ๐จ๐ซ๐ข๐ž๐ฌ:

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐“๐ฒ๐ฉ๐ž:

โ— Flat Steel
โ— Long Steel

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ:

โ— Structural Steel
โ— Prestressing Steel
โ— Bright Steel
โ— Welding Wire and Rod
โ— Iron Steel Wire
โ— Ropes
โ— Braids

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง:

โ— Building and Construction
โ— Electrical Appliances
โ— Metal Products
โ— Automotive
โ— Transportation
โ— Mechanical Equipment
โ— Domestic Appliances

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐‘๐ž๐ ๐ข๐จ๐ง:

โ— Seoul Capital Area
โ— Yeongnam (Southeastern Region)
โ— Honam (Southwestern Region)
โ— Hoseo (Central Region)
โ— Others

๐€๐ฌ๐ค ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ญ ๐Ÿ๐จ๐ซ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/request?type=report&id=21194&flag=C

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

๐Š๐ž๐ฒ ๐ก๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:

โ— ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ž๐ซ๐Ÿ๐จ๐ซ๐ฆ๐š๐ง๐œ๐ž (๐Ÿ๐ŸŽ๐Ÿ๐Ÿ–-๐Ÿ๐ŸŽ๐Ÿ๐Ÿ‘)
โ— ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฎ๐ญ๐ฅ๐จ๐จ๐ค (๐Ÿ๐ŸŽ๐Ÿ๐Ÿ’-๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ)
โ— COVID-19 Impact on the Market
โ— Porter's Five Forces Analysis
โ— Strategic Recommendations
โ— Historical, Current, and Future Market Trends
โ— Market Drivers and Success Factors
โ— SWOT Analysis
โ— Structure of the Market
โ— Value Chain Analysis
โ— Comprehensive Mapping of the Competitive Landscape

๐๐จ๐ญ๐ž: ๐ˆ๐Ÿ ๐ฒ๐จ๐ฎ ๐ง๐ž๐ž๐ ๐ฌ๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง ๐ญ๐ก๐š๐ญ ๐ข๐ฌ ๐ง๐จ๐ญ ๐œ๐ฎ๐ซ๐ซ๐ž๐ง๐ญ๐ฅ๐ฒ ๐ฐ๐ข๐ญ๐ก๐ข๐ง ๐ญ๐ก๐ž ๐ฌ๐œ๐จ๐ฉ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ, ๐ฐ๐ž ๐œ๐š๐ง ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ž ๐ข๐ญ ๐ญ๐จ ๐ฒ๐จ๐ฎ ๐š๐ฌ ๐š ๐ฉ๐š๐ซ๐ญ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐œ๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง.

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ:

๐ˆ๐Œ๐€๐‘๐‚ ๐†๐ซ๐จ๐ฎ๐ฉ

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release South Korea Steel Market Expected to Rise at 7.80% CAGR During 2024-2032 here

News-ID: 3872859 • Views: โ€ฆ

More Releases from IMARC Group

E-Bike Market Size, Share, Trends and Forecast by Mode, Motor Type, Battery Type 2025 - 2033
E-Bike Market Size, Share, Trends and Forecast by Mode, Motor Type, Battery Type โ€ฆ
The global E-bike market reached USD 26.4 Billion in 2024 and is set to expand to USD 45.5 Billion by 2033, driven by urbanization, government incentives, improving battery tech and rising demand for affordable, low-emission transport. Strong manufacturing in Asia Pacific, growing last-mile and commuter use, and greater adoption of pedal-assist and connected features are steering sustained growth at a 6.22% CAGR (2025-2033). Request for a sample copy of this report: https://www.imarcgroup.com/e-bike-market/requestsample STUDYโ€ฆ
Agritourism Market Size, Share, Trends and Forecast by Tourist Type 2025 - 2033
Agritourism Market Size, Share, Trends and Forecast by Tourist Type 2025 - 2033
The Global Agritourism Market is experiencing robust expansion, driven by farmers seeking to diversify their income streams and a surging global consumer interest in authentic, sustainable travel experiences. Valued at approximately USD 73.2 Billion in 2024, the market is projected to reach USD 205.6 Billion by 2033, reflecting a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period. This positive trajectory is further fueled by increased government supportโ€ฆ
Global Pickles Market Size, Trend: Type, Taste, Sales Channel Forecast 2025-33
Global Pickles Market Size, Trend: Type, Taste, Sales Channel Forecast 2025-33
Global pickles market valuation reached USD 12.5 billion in 2024 and is projected to climb to USD 16.8 billion by 2033, growing at a CAGR of 3.79%. Rising consumer demand for healthy, probiotic-rich snacks, expanding e-commerce access, and growing interest in ethnic flavors are fueling this expansion. Consumers increasingly seek convenient and flavorful food options, while manufacturers innovate with packaging and taste profiles to meet diverse preferences. Request for a sampleโ€ฆ
Sodium Metabisulfite Production Cost Analysis Report 2025: Feasibility Study and Profit Analysis
Sodium Metabisulfite Production Cost Analysis Report 2025: Feasibility Study and โ€ฆ
Sodium metabisulfite (Na2S2O5) is a white crystalline powder widely used as a disinfectant, antioxidant, preservative, and bleaching agent. It finds applications in water treatment, food preservation, pharmaceuticals, pulp and paper, and textile industries. Known for its strong reducing properties and ability to release sulfur dioxide, sodium metabisulfite helps prevent microbial growth, oxidation, and discoloration, making it an essential chemical for industrial, commercial, and food-related processes. A sodium metabisulfite plant requires sourcingโ€ฆ

All 5 Releases


More Releases for South

South Florida's Continuum South Beach Emerges as One of the Most Coveted Propert โ€ฆ
The Continuum South Beach reigns supreme as a highly coveted condominium in South Florida, presenting an array of offerings that ensure an elevated quality of life. Miami beach, FL - Continuum South Beach [https://www.continuuminsouthbeach.com/] presents a sanctuary of lavishness, featuring opulent apartments and a breathtaking riverfront location in close proximity to the finest attractions of Miami Beach. These extraordinary residences are discreetly nestled within this prestigious condominium, specifically within the Continuumโ€ฆ
Green Cool UK Expand Air Conditioning Services in South Wales and the South West
Cardiff, South Wales - Green Cool UK, the UK's leading air conditioning and refrigeration company, are pleased to announce the extension of their services in South Wales, including Cardiff, Swansea, Newport and into Bristol and the South West. With over 18 years experience in the HVAC industry Green Cool UK supply high performance air conditioning systems and green energy solutions for domestic and commercial customers. As air conditioning and refrigeration expertsโ€ฆ
2024 South Africa International Industrial Exhibition and China (South Africa) I โ€ฆ
Exhibition time: September 19-21, 2024 Exhibition location: Sandton Convention Centre, Johannesburg Organizer: South Africa Golden Bridge International Exhibition Company Exhibition introduction The South African International Industrial Exhibition [https://www.vovt-diesel.com/] and China (South Africa) International Trade Fair is a large-scale international exhibition held to promote Chinese enterprises to explore the African market. Relying on the advantageous resources of the local government, business associations and industry organizations in South Africa, it builds a pragmatic and efficient platformโ€ฆ
Stem Cell Therapy Market | Smith+Nephew (UK), MEDIPOST Co., Ltd. (South Korea), โ€ฆ
Stem Cell Therapy Market in terms of revenue was estimated to be worth $286 million in 2023 and is poised to reach $615 million by 2028, growing at a CAGR of 16.5% from 2023 to 2028 according to a new report by MarketsandMarkets. The global stem cell therapy market is expected to grow at a CAGR of 16.8% during the forecast period. The major factors driving the growth of theโ€ฆ
Global Pajamas Market Report - Japan, Europe, South Korea, Asia and America ( No โ€ฆ
Recently we published the latest report on the Pajamas market. The report on the Pajamas market provides a holistic analysis, of market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 15 vendors. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The Pajamas market analysis includes product segment and geographic landscape. Theโ€ฆ
South Africa Agriculture Market, South Africa Agriculture Industry, South Africa โ€ฆ
The South Africa has a market-oriented agricultural economy, which is much diversified and includes the production of all the key grains (except rice), deciduous, oilseeds, and subtropical fruits, sugar, wine, citrus, and most vegetables. Livestock production includes sheep, cattle, dairy, and a well-developed poultry & egg industry. Value-added activities in the agriculture sector include processing & preserving of fruit and vegetables, crushing of oilseeds, chocolate, slaughtering, processing & preserving ofโ€ฆ