Ferroalloys production in South Korea has seen fluctuations over the past decade. In 2023, the production stood at 851.38 thousand metric tons. Notable year-on-year variations include a significant drop in 2020 by -14.55%, followed by a recovery with a 23.87% increase in 2021. The average CAGR over the last five years was 2.82%. From 2024 onwards, forecasted data indicates consistent growth, with the 2028 forecast suggesting a production volume of 962.3 thousand metric tons, representing a forecasted 5-year CAGR of 1.93%.
Future trends to watch for:
- Potential impact of technological advancements on production efficiency.
- Market demand fluctuations driven by global steel production trends.
- Influence of trade policies and international agreements on ferroalloys imports and exports.
