South Korea Aluminum Forging Market Size & Outlook

The aluminum forging market in South Korea is expected to reach a projected revenue of US$ 937.9 million by 2030. A compound annual growth rate of 5% is expected of South Korea aluminum forging market from 2023 to 2030.

Revenue, 2022 (US$M)
$633.2
Forecast, 2030 (US$M)
$937.9
CAGR, 2023 - 2030
5%
Report Coverage
South Korea

South Korea aluminum forging market highlights

  • The South Korea aluminum forging market generated a revenue of USD 633.2 million in 2022 and is expected to reach USD 937.9 million by 2030.
  • The South Korea market is expected to grow at a CAGR of 5% from 2023 to 2030.
  • In terms of segment, closed die forging was the largest revenue generating product in 2022.
  • Closed Die Forging is the most lucrative product segment registering the fastest growth during the forecast period.

Aluminum forging market data book summary

Market revenue in 2022USD 633.2 million
Market revenue in 2030USD 937.9 million
Growth rate5% (CAGR from 2022 to 2030)
Largest segmentClosed die forging
Fastest growing segmentClosed Die Forging
Historical data2018 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationOpen Die Forging, Closed Die Forging, Ring Rolled Forging
Key market players worldwideArconic, Alcoa Corp, ATI Inc, Aluminum Precision Products, American Handforge, Farinia Group, Forginal Industrie

Other key industry trends

  • In terms of revenue, South Korea accounted for 3.0% of the global aluminum forging market in 2022.
  • Country-wise, China is expected to lead the global market in terms of revenue in 2030.
  • In Asia Pacific, China aluminum forging market is projected to lead the regional market in terms of revenue in 2030.
  • China is the fastest growing regional market in Asia Pacific and is projected to reach USD 9,425.4 million by 2030.

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Aluminum Forging Market Scope

Aluminum forging market segmentation & scope
Open Die Forging
Closed Die Forging
Ring Rolled Forging
Automotive
Aerospace
Oil & Gas
Construction
Other Applications

Aluminum Forging Market Companies

Name Profile # Employees HQ Website

South Korea aluminum forging market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aluminum forging market will help companies and investors design strategic landscapes.


Closed die forging was the largest segment with a revenue share of 74.1% in 2022. Horizon Databook has segmented the South Korea aluminum forging market based on open die forging, closed die forging, ring rolled forging covering the revenue growth of each sub-segment from 2018 to 2030.


  • South Korea Aluminum Forging Product Outlook (Revenue, USD Million, 2018-2030)
    • Open Die Forging
    • Closed Die Forging
    • Ring Rolled Forging
  • South Korea Aluminum Forging Application Outlook (Revenue, USD Million, 2018-2030)
    • Automotive
    • Aerospace
    • Oil & Gas
    • Construction
    • Other Applications

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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea aluminum forging market , including forecasts for subscribers. This country databook contains high-level insights into South Korea aluminum forging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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South Korea aluminum forging market size, by product, 2018-2030 (US$M)

South Korea Aluminum Forging Market Outlook Share, 2022 & 2030 (US$M)

South Korea aluminum forging market size, by product, 2018-2030 (US$M)

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