B2B drives market demand, with B2B spending representing 97.9% of total demand in 2023. South Korea has the third largest market size for forming of metal and powder metallurgy regionally, with demand reaching USD9.8 billion in 2023. SungWoo Hitech Co Ltd is the largest company in South Korea, generating 13.2% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 16.5% of total production value in 2023. The total number of companies decreases in 2023, to 9,993 units. The costs of the industry increase by 3.7% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 10.7% of production value in 2023, the 11th highest regionally. The industry’s exports share decreases in 2023 to 3.8% of total production output. With production value of USD9.3 billion, South Korea accounts for 10.6% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Forming of Metal and Powder Metallurgy in South Korea: ISIC 2891. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Forming of Metal and Powder Metallurgy in South Korea: ISIC 2891 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of basic iron and steel, basic preciuos and non-ferrous metals, casting of metals, coating of metals and mechanical engineering, forming of metal and power metallurgy, metal packaking, wire and other fabricated metal products.
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