South Korea Welded Plate Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.2 Billion by 2030, growing at a CAGR of 4.1% from 2024 to 2030.
The South Korea welded plate market has witnessed significant growth in recent years due to its crucial role in various industrial sectors. Welded plates, which are typically formed by joining multiple pieces of metal through welding, are essential in industries such as construction, automotive, shipbuilding, and energy. These plates provide durability, structural integrity, and versatility, making them indispensable in creating a wide range of products and infrastructure. The demand for welded plates is largely driven by South Korea's robust manufacturing and industrial capabilities.
One of the major drivers of the welded plate market in South Korea is the strong presence of the shipbuilding industry. South Korea is one of the largest shipbuilders globally, and welded plates are integral in the construction of ships and marine structures. These plates offer strength and resistance to harsh marine environments, which are crucial factors for ship durability. Additionally, South Korea's automotive sector heavily relies on welded plates to manufacture various vehicle components, especially for producing lightweight and high-strength body parts.
In terms of requirements, industries in South Korea seek welded plates with specific characteristics. High tensile strength, corrosion resistance, and the ability to withstand extreme temperatures are among the key requirements. For instance, in the energy sector, welded plates are used in the fabrication of power plants and pipelines, where material performance under extreme conditions is vital. Similarly, the construction industry demands welded plates that can support heavy loads while maintaining structural integrity over time.
As technological advancements continue to shape the market, there is also an increasing preference for eco-friendly and cost-efficient materials. South Korean manufacturers are now focusing on producing welded plates that not only meet stringent industry standards but also contribute to sustainability goals. Innovations in welding technologies and materials are expected to further boost the market, offering better products with enhanced performance characteristics.
The future of the South Korea welded plate market looks promising, as industrial requirements evolve to accommodate the growing demand for high-quality, durable, and specialized materials. Industries will continue to rely on welded plates for their diverse applications, ensuring a steady market for this essential product.
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API Heat Transfer
Danfoss
Kelvion Holding GmbH
Nexson Group
Barriquand Group
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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 Welded Plate Market
Carbon Steel
Stainless Steel
Alloy Steel
Tool Steel
Others
Electroslag Welding
Gas Tungsten Arc Welding
Submerged Arc Welding
Gas Metal Arc Welding
Others
Construction
Aerospace
Automotive
Shipbuilding
Industrial Engineering
Others
Thin Plates (up to 5 mm)
Medium Plates (5 mm - 20 mm)
Thick Plates (more than 20 mm)
Power Generation
Oil and Gas
Infrastructure
Manufacturing
Mining
Aerospace and Defense
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Welded Plate 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 Welded Plate Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Welded Plate Market, By Type
6. South Korea Welded Plate Market, By Application
7. South Korea Welded Plate Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Welded Plate Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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