South Korea Hot-rolled Steel Sheet Market was valued at USD 10 Billion in 2022 and is projected to reach USD 14 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The South Korea hot-rolled steel sheet market plays a critical role in various industries due to its versatile applications. Hot-rolled steel sheets are known for their ability to undergo extensive shaping and forming processes, making them ideal for use in automotive, construction, and manufacturing sectors. This market is driven by the increasing demand for durable, high-quality steel products that can withstand demanding environments. The key industries relying on hot-rolled steel sheets are the automotive, shipbuilding, and infrastructure sectors, where steel forms the backbone of production and construction.
In the automotive industry, hot-rolled steel sheets are used extensively in the production of vehicle bodies, chassis, and structural components. The steel's strength and flexibility make it the ideal material for manufacturers aiming to produce lightweight yet durable vehicles. Hot-rolled steel sheets contribute significantly to the automotive sector's innovation, helping manufacturers meet stringent safety standards and fuel efficiency goals. In fact, more than 60% of a vehicle's body structure may be made from hot-rolled steel, underscoring the material's importance in the industry.
In the construction industry, hot-rolled steel sheets are utilized in the fabrication of beams, columns, and other structural components for buildings and bridges. These products are favored for their high tensile strength and cost-effectiveness. As construction projects increase in size and complexity, the demand for hot-rolled steel sheets continues to grow. This trend is fueled by the rapid urbanization in South Korea, where massive infrastructure projects are being undertaken to accommodate the growing population.
Moreover, the shipbuilding industry also forms a substantial portion of the market for hot-rolled steel sheets. The steel sheets are critical in the production of ships and marine structures, thanks to their corrosion resistance and ability to endure harsh maritime environments. With the global increase in demand for shipping and marine transport, South Korea's shipbuilding industry relies heavily on hot-rolled steel sheets for crafting reliable and long-lasting vessels.
In conclusion, the South Korea hot-rolled steel sheet market serves a wide range of industries, from automotive to shipbuilding and construction. As industries evolve and innovate, the demand for high-quality hot-rolled steel sheets will continue to rise, driving further growth and technological advancements in the sector.
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JFE Steel
Tata Steel
Hyundai Steel
Jiugang
JSW Steel
ArcelorMittal
Baowu Group
NSSMC
Ansteel Group
Hesteel Group
POSCO
Shougang
Benxi Steel group
ThyssenKrupp
Shagang Group
New Zealand Steel
Yarde Metals
Ternium
Erdemir
Nucor
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Hot-rolled Steel Sheet Market
Pickled & Oiled Steel Sheets
Black Steel Sheets
Hot-rolled Steel Coils
Hot-rolled Flat Sheets
Thin Gauge Steel Sheets (up to 3 mm)
Medium Gauge Steel Sheets (3 mm to 10 mm)
Thick Gauge Steel Sheets (above 10 mm)
Automotive Industry
Construction & Infrastructure
Shipbuilding
Machinery Manufacturing
Energy & Power Generation
Structural Steel Grade
High-Strength Low-Alloy (HSLA) Steel Grade
Micro-Alloyed Steel Grade
Commercial Quality Steel Grade
Steel Plates
Steel Coils
Steel Strips
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Hot-rolled Steel Sheet Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Hot-rolled Steel Sheet Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Hot-rolled Steel Sheet Market, By Type
6. South Korea Hot-rolled Steel Sheet Market, By Application
7. South Korea Hot-rolled Steel Sheet Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Hot-rolled Steel Sheet Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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