South Korea Rebar Market was valued at USD 8 Billion in 2022 and is projected to reach USD 12 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
In the dynamic landscape of South Korea's construction sector, the Rebar Market plays a pivotal role, underpinning the nation's infrastructural integrity. Recent data reveals a production volume of approximately 9.2 million metric tons of concrete reinforcing bars in 2023, underscoring the market's substantial scale. citeturn0search2
However, the market is currently navigating through turbulent waters. Leading steelmakers, including Hyundai Steel and Dongkuk Steel, have initiated temporary halts in rebar production, responding to a pronounced downturn in the construction industry. Hyundai Steel's Incheon and Pohang plants, for instance, suspended operations until the end of January 2025, a move reflecting the acute decline in demand. citeturn0search3
The crux of this decline lies in the construction sector's sluggishness, leading to a significant drop in rebar sales. In 2024, total rebar sales plummeted by approximately 20% year-on-year, amounting to 7.03 million metric tons. This contraction has compelled manufacturers to reassess and curtail production strategies to mitigate financial strains. citeturn0search3
In response to these challenges, companies are adopting measures such as implementing minimum pricing policies and halting sales to distributors to prevent market destabilization. For instance, since mid-December, Hyundai Steel and Dongkuk Steel have ceased selling rebar to distributors, aiming to prevent low-price bulk purchases and resale at higher prices during peak seasons. citeturn0search5
Despite these hurdles, projections indicate a potential growth trajectory for the South Korean steel rebar market, with an anticipated compound annual growth rate (CAGR) of 5.94% during 2024-2032. This optimism is fueled by factors such as ongoing infrastructure development projects and advancements in manufacturing technologies. citeturn0search1
In essence, while the South Korean Rebar Market currently faces significant challenges, strategic industry responses and future growth prospects suggest a resilient path forward, crucial for the nation's infrastructural development and economic stability.
Get an In-Depth Research Analysis of the South Korea Rebar Market Size And Forecast [2025-2032]
Â
ArcelorMittal
Gerdau
Nippon Steel & Sumitomo Metal Corporation
Posco SS-Vina
Co. Ltd
Steel Authority of India Limited
Tata Steel Ltd.
Essar Steel
Mechel PAO
EVRAZ plc
Sohar Steel LLC
Celsa Steel U.K.
Kobe Steel Ltd.
Jiangsu Shagang Group
NJR Steel
Commercial Metals Company
The Conco Companies
Barnes Reinforcing industries
Jindal Steel & Power
Steel Dynamics
Steel Asia Manufacturing Corporation
Outokumpu Oyj
Acerinox S.A.
Hyundai Steel
Daido Steel
Byer Steel
Â
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.
Get Discount On The Purchase of the South Korea Rebar Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Rebar Market
Plain Rebar
Deformed Rebar
Steel Rebar
Glass Fiber Reinforced Polymer (GFRP) Rebar
Carbon Fiber Reinforced Polymer (CFRP) Rebar
Construction
Infrastructure
Industrial
Less than 10 mm
10-20 mm
Above 20 mm
Residential
Commercial
Industrial
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Rebar Market Research Analysis
1. Introduction of the South Korea Rebar 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 Rebar Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Rebar Market, By Type
6. South Korea Rebar Market, By Application
7. South Korea Rebar Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Rebar Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/