Summary

The structural steel market in South Korea plays a critical role in the nation’s economic development, particularly in the sectors of construction, infrastructure, and industrial manufacturing. South Korea has a long-standing history of industrial growth, and steel production has been integral to the country’s rise as an industrial powerhouse. The history of the South Korean steel industry dates back to the mid-20th century when the country’s steel sector was bolstered by government-led industrialization strategies. The Korean government has continuously supported the domestic steel industry, which is one of the largest in the world, with companies like POSCO and Hyundai Steel at the forefront. These companies have grown through continuous investments in research and development, which have enhanced their production capabilities and enabled them to maintain global competitiveness. Steel is vital for South Korea’s construction, automotive, shipbuilding, and energy industries, providing strength, durability, and flexibility in structural applications. However, like many steel-producing nations, South Korea’s steel industry faces challenges such as fluctuations in raw material prices, increasing competition from global markets, and strict environmental regulations. South Korea’s environmental policies are among the most stringent in the world, and they require steel producers to adopt energy-efficient and eco-friendly practices. For example, the government mandates the use of advanced technologies such as electric arc furnaces (EAF) to reduce carbon emissions.

According to the research report, "South Korea structural steel Market Overview, 2030," published by Bonafide Research, the South Korea structural steel market is expected to reach a market size of more than USD 4.93 Billion by 2030. South Korean structural steel market is undergoing notable changes due to various factors driving growth, including urbanization, infrastructural investments, and advances in steel manufacturing technologies. One of the key growth drivers in South Korea’s structural steel sector is the government’s commitment to large-scale infrastructure projects. The “Korean New Deal,” introduced in 2020, is a prime example of a government initiative that aims to invest in sustainable infrastructure, including eco-friendly public transportation systems, renewable energy projects, and digital infrastructure. These projects require extensive use of structural steel, making them a significant driver of market growth. The construction of new highways, bridges, and public transportation systems, as well as the continued development of smart cities, is expected to increase demand for steel components. Additionally, South Korea’s strong automotive industry, with major players like Hyundai and Kia, relies heavily on steel for vehicle manufacturing, and this creates a steady demand for structural steel. Another factor contributing to the market’s growth is the increasing demand for high-strength, lightweight steel products. As urbanization continues to accelerate, there is a growing need for steel solutions that offer higher strength-to-weight ratios, making them ideal for high-rise buildings, bridges, and other infrastructure projects. Advanced metallurgy, such as high-performance alloys and ultra-high-strength steels, has enabled the production of these specialized materials. Moreover, digitalization and automation in the manufacturing of structural steel have brought about significant improvements in productivity and cost-efficiency.

The South Korean structural steel market is segmented into various product categories that serve distinct construction and industrial needs. One of the primary product categories is steel beams, which are essential for providing structural support in buildings, bridges, and other large structures. Steel beams come in various shapes, including I-beams, H-beams, and T-beams, each of which has specific applications depending on the load-bearing requirements. Beams are widely used in the construction of high-rise buildings, shopping malls, and industrial facilities due to their ability to withstand heavy loads while maintaining structural stability. Steel angles and channels are other significant product segments in South Korea’s market. Angles are often used to reinforce the frame of structures and provide additional strength, while channels are typically used for framing in construction, particularly in the creation of bridges, tunnels, and highways. Steel channels also play a crucial role in machinery and industrial applications, offering strength and durability for heavy-duty operations. Another critical product in the market is steel plates, which are used extensively in the construction, shipbuilding, and heavy machinery industries. Steel plates are highly valued for their strength, resistance to wear, and ability to withstand extreme conditions. These products are often employed in the manufacturing of offshore platforms, industrial plants, and transportation infrastructure such as pipelines and storage tanks. As South Korea is a leader in shipbuilding, steel plates are essential for the production of large vessels, including cargo ships, oil tankers, and naval ships. Additionally, the demand for square tubes and other specialized steel sections is growing due to their versatility and adaptability across different industries. These products are used in various applications, including construction, automotive manufacturing, and machinery production. With the rise in modular and prefabricated construction, the demand for pre-cut and pre-drilled steel components is also increasing.

The South Korean structural steel market serves a wide range of applications across various sectors, and demand is increasing in both traditional and emerging areas. Residential construction has been one of the key drivers of structural steel consumption, particularly with the growing popularity of steel-framed houses and modular construction techniques. Steel is increasingly seen as a superior alternative to traditional wood due to its enhanced strength, durability, fire resistance, and ability to withstand natural disasters such as earthquakes. Additionally, steel-framed houses are more energy-efficient and environmentally friendly, making them an attractive option for modern residential projects. In commercial construction, structural steel is widely used in the development of high-rise office buildings, shopping centers, and mixed-use developments. South Korea’s urbanization is driving the construction of new commercial spaces in cities such as Seoul, Busan, and Incheon, leading to a rise in the demand for structural steel. Steel offers the versatility and strength required for complex architectural designs, allowing for open-floor spaces and large-span structures. The industrial sector is another significant consumer of structural steel, with manufacturing plants, warehouses, and distribution centers being major markets. The expansion of South Korea’s e-commerce and logistics sectors has led to an increased need for warehouses and fulfillment centers, which rely heavily on steel construction for their large-scale operations.

The method of connecting structural steel components is a critical aspect in determining the overall strength and stability of a structure. In South Korea, the primary types of steel connections include bolted, welded, and riveted joints, each of which is chosen based on the specific needs of a project. Bolted connections are one of the most common methods used in South Korea’s structural steel market due to their flexibility and ease of assembly. These connections are particularly well-suited for modular buildings and temporary structures where disassembly and reassembly may be necessary. The use of high-strength bolts ensures secure and reliable connections, making bolted structures ideal for use in various industries. Welded connections are another widely used method in large-scale construction projects where maximum strength and structural integrity are critical. Welding offers a permanent connection, which is often required for high-rise buildings and large bridges where safety and load-bearing capacity are paramount. Advances in welding technologies, such as automated and robotic welding, have significantly improved the efficiency, precision, and speed of the welding process. As welding techniques continue to evolve, it is expected that welded structures will play an increasingly important role in South Korea’s construction projects. Riveted connections, although not as commonly used today, are still employed in specialized applications such as bridge construction and the renovation of historic structures. Rivets are particularly effective in environments that require highly durable and tamper-resistant connections, as they provide a permanent bond that can withstand heavy loads and vibrations. The South Korean structural steel market continues to evolve with new innovations in connection techniques, contributing to enhanced construction practices and greater overall efficiency.


Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report
• Structural Steel Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Beams
• Angles
• Channels
• Steel Plates & Sheet
• Squares Tubes
• Others

By Application
• Residential Construction
• Commercial Construction
• Industrial Structures
• Infrastructure
• Energy & Power

By Connection Type
• Bolted Structures
• Welded Structures
• Riveted Structures

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Table of Contents

Table of Content

1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. South Korea Geography
4.1. Population Distribution Table
4.2. South Korea Macro Economic Indicators
5. Market Dynamics
5.1. Key Insights
5.2. Recent Developments
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.5.1. XXXX
5.5.2. XXXX
5.5.3. XXXX
5.5.4. XXXX
5.5.5. XXXX
5.6. Supply chain Analysis
5.7. Policy & Regulatory Framework
5.8. Industry Experts Views
6. South Korea Structural Metal Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast, By Product
6.3. Market Size and Forecast, By Application
6.4. Market Size and Forecast, By Connection type
6.5. Market Size and Forecast, By Region
7. South Korea Structural Metal Market Segmentations
7.1. South Korea Structural Metal Market, By Product
7.1.1. South Korea Structural Metal Market Size, By Beams, 2019-2030
7.1.2. South Korea Structural Metal Market Size, By Angles, 2019-2030
7.1.3. South Korea Structural Metal Market Size, By Channels, 2019-2030
7.1.4. South Korea Structural Metal Market Size, By Steel Plates & Sheet, 2019-2030
7.1.5. South Korea Structural Metal Market Size, By Squares Tubes , 2019-2030
7.1.6. South Korea Structural Metal Market Size, By Others, 2019-2030
7.2. South Korea Structural Metal Market, By Application
7.2.1. South Korea Structural Metal Market Size, By Residential Construction, 2019-2030
7.2.2. South Korea Structural Metal Market Size, By Commercial Construction, 2019-2030
7.2.3. South Korea Structural Metal Market Size, By Industrial Structures, 2019-2030
7.2.4. South Korea Structural Metal Market Size, By Infrastructure, 2019-2030
7.2.5. South Korea Structural Metal Market Size, By Energy & Power, 2019-2030
7.3. South Korea Structural Metal Market, By Connection type
7.3.1. South Korea Structural Metal Market Size, By Bolted Structures, 2019-2030
7.3.2. South Korea Structural Metal Market Size, By Welded Structures, 2019-2030
7.3.3. South Korea Structural Metal Market Size, By Riveted Structures, 2019-2030
7.4. South Korea Structural Metal Market, By Region
7.4.1. South Korea Structural Metal Market Size, By North, 2019-2030
7.4.2. South Korea Structural Metal Market Size, By East, 2019-2030
7.4.3. South Korea Structural Metal Market Size, By West, 2019-2030
7.4.4. South Korea Structural Metal Market Size, By South, 2019-2030
8. South Korea Structural Metal Market Opportunity Assessment
8.1. By Product, 2025 to 2030
8.2. By Application, 2025 to 2030
8.3. By Connection type, 2025 to 2030
8.4. By Region, 2025 to 2030
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.1.1. Company Snapshot
9.2.1.2. Company Overview
9.2.1.3. Financial Highlights
9.2.1.4. Geographic Insights
9.2.1.5. Business Segment & Performance
9.2.1.6. Product Portfolio
9.2.1.7. Key Executives
9.2.1.8. Strategic Moves & Developments
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer


List of Figures

List of Figures
Figure 1: South Korea Structural Metal Market Size By Value (2019, 2024 & 2030F) (in USD Million)
Figure 2: Market Attractiveness Index, By Product
Figure 3: Market Attractiveness Index, By Application
Figure 4: Market Attractiveness Index, By Connection type
Figure 5: Market Attractiveness Index, By Region
Figure 6: Porter's Five Forces of South Korea Structural Metal Market


List of Tables

Table 1: Influencing Factors for Structural Metal Market, 2024
Table 2: South Korea Structural Metal Market Size and Forecast, By Product (2019 to 2030F) (In USD Million)
Table 3: South Korea Structural Metal Market Size and Forecast, By Application (2019 to 2030F) (In USD Million)
Table 4: South Korea Structural Metal Market Size and Forecast, By Connection type (2019 to 2030F) (In USD Million)
Table 5: South Korea Structural Metal Market Size and Forecast, By Region (2019 to 2030F) (In USD Million)
Table 6: South Korea Structural Metal Market Size of Beams (2019 to 2030) in USD Million
Table 7: South Korea Structural Metal Market Size of Angles (2019 to 2030) in USD Million
Table 8: South Korea Structural Metal Market Size of Channels (2019 to 2030) in USD Million
Table 9: South Korea Structural Metal Market Size of Steel Plates & Sheet (2019 to 2030) in USD Million
Table 10: South Korea Structural Metal Market Size of Squares Tubes (2019 to 2030) in USD Million
Table 11: South Korea Structural Metal Market Size of Others (2019 to 2030) in USD Million
Table 12: South Korea Structural Metal Market Size of Residential Construction (2019 to 2030) in USD Million
Table 13: South Korea Structural Metal Market Size of Commercial Construction (2019 to 2030) in USD Million
Table 14: South Korea Structural Metal Market Size of Industrial Structures (2019 to 2030) in USD Million
Table 15: South Korea Structural Metal Market Size of Infrastructure (2019 to 2030) in USD Million
Table 16: South Korea Structural Metal Market Size of Energy & Power (2019 to 2030) in USD Million
Table 17: South Korea Structural Metal Market Size of Bolted Structures (2019 to 2030) in USD Million
Table 18: South Korea Structural Metal Market Size of Welded Structures (2019 to 2030) in USD Million
Table 19: South Korea Structural Metal Market Size of Riveted Structures (2019 to 2030) in USD Million
Table 20: South Korea Structural Metal Market Size of North (2019 to 2030) in USD Million
Table 21: South Korea Structural Metal Market Size of East (2019 to 2030) in USD Million
Table 22: South Korea Structural Metal Market Size of West (2019 to 2030) in USD Million
Table 23: South Korea Structural Metal Market Size of South (2019 to 2030) in USD Million