Aluminium Rods & Bars Market size is estimated to be USD 12.3 Billion in 2024 and is expected to reach USD 17.5 Billion by 2033 at a CAGR of 4.8% from 2026 to 2033.
The Aluminium Rods & Bars Market in South Korea is experiencing significant growth, driven by the country's robust industrial sectors. In 2024, the market was valued at approximately USD 10.49 billion and is projected to reach around USD 20.24 billion by 2034, growing at a CAGR of 7.5%.
Key Product Types:
Extrusions: Widely used in construction and transportation for their strength and versatility.
Forgings: Essential in aerospace and defense industries due to their durability.
Flat-Rolled Products: Commonly used in packaging and consumer goods for their lightweight properties.
Industry Requirements:
Automotive Sector: Aluminium rods and bars are crucial for manufacturing lightweight vehicle components, enhancing fuel efficiency and reducing emissions.
Construction Industry: Utilizes aluminium for structural components due to its corrosion resistance and strength-to-weight ratio.
Electronics: The demand for aluminium is rising in electronics for heat sinks and casings, thanks to its excellent thermal conductivity.
Emerging Trends:
Green Aluminium: There's a growing emphasis on sustainable production methods, with companies investing in recycling and low-carbon technologies.
Trade Dynamics: In the first half of 2024, Russia increased its aluminium exports to South Korea by approximately 20%, reaching 154.9 thousand tons, indicating a shift in global supply chains.
Technological Advancements: Innovations in 3D printing are enabling more efficient production of aluminium components, catering to customized industrial needs.
From my experience attending industry conferences and engaging with professionals in the field, it's evident that South Korea's aluminium market is adapting rapidly to global trends and technological advancements. The focus on sustainability and efficiency is reshaping the demand and application of aluminium rods and bars across various industries.
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Europages
Kaiser
Rio Tinto
UC Rusal
Aluminium Corporation of China
BHP Billiton
Dubal Aluminium
Norsk Hydro
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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 Aluminium Rods & Bars Market
Round Bars
Square Bars
Rectangular Bars
Hexagonal Bars
Wire Rods
Alloy 1000 Series
Alloy 2000 Series
Alloy 3000 Series
Alloy 4000 Series
Alloy 5000 Series
Alloy 6000 Series
Alloy 7000 Series
Alloy 8000 Series
Aerospace
Automotive
Construction
Electrical Engineering
Marine
Consumer Goods
Industrial Machinery
Manufacturing
Transportation
Energy & Power
Telecommunications
Healthcare
Food & Beverage
Extruded Bars & Rods
Forged Bars & Rods
Rolled Bars & Rods
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Aluminium Rods & Bars 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 Aluminium Rods & Bars Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Aluminium Rods & Bars Market, By Type
6. South Korea Aluminium Rods & Bars Market, By Application
7. South Korea Aluminium Rods & Bars Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Aluminium Rods & Bars Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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