South Korea Structural Wood Screws Market Size & Outlook
South Korea structural wood screws market, 2018-2030 (US$M)
Related Markets
South Korea structural wood screws market highlights
- The South Korea structural wood screws market generated a revenue of USD 108.6 million in 2023 and is expected to reach USD 154.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, stainless steel was the largest revenue generating type in 2023.
- Carbon Steel is the most lucrative type segment registering the fastest growth during the forecast period.
Structural wood screws market data book summary
| Market revenue in 2023 | USD 108.6 million |
| Market revenue in 2030 | USD 154.8 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Stainless steel |
| Fastest growing segment | Carbon Steel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Steel, Stainless Steel |
| Key market players worldwide | SFS Group AG, Simpson Manufacturing Co Inc, Eurotech Ltd, Illinois Tool Works Inc, Kyocera Corp, SPAX International, Grip-Rite, Simpson Strong-Tie Company, Rothoblaas, GRK Fasteners |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global structural wood screws market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China structural wood screws market is projected to lead the regional market in terms of revenue in 2030.
- Singapore is the fastest growing regional market in Asia Pacific and is projected to reach USD 59.1 million by 2030.
Stainless steel was the largest segment with a revenue share of 74.03% in 2023. Horizon Databook has segmented the South Korea structural wood screws market based on carbon steel, stainless steel covering the revenue growth of each sub-segment from 2018 to 2030.
Additionally, the country’s rising focus on infrastructural development is likely to drive the growth of the construction industry, impacting the growth of the structural wood screws market positively. Residential construction in the country is also surging with the growing population.
The government is also investing in providing homes to the public. For instance, in 2022, The South Korean government announced the construction of 2.7 million new house units over the coming five years. The government is planning to construct 500,000 housing units in Seoul and 1.08 million houses in Incheon and Gyeonggi Province.
The structural wood screws are used in housing units for various applications such as framing and furniture. Thus, the rising construction of residential units will give rise to the demand for structural wood screws in the country.
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Structural Wood Screws Market Scope
Structural Wood Screws Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea structural wood screws market size, by type, 2018-2030 (US$M)
South Korea Structural Wood Screws Market Outlook Share, 2023 & 2030 (US$M)
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