South Korea Faucet Market Research Report, 2029

The South Korean faucet market is an important part of the country's overall plumbing and building industry. South Korea, known for its technological achievements and emphasis on quality and innovation, has established itself as a major participant in the global faucet business. This industry has grown significantly over the years, driven by urbanisation, increased housing demand, and rising consumer awareness of water saving and hygiene. The need for high-quality, visually beautiful faucets is strongly related to the country's real estate sector, which has been steadily expanding over the years. Additionally, faucets play a critical part in water conservation, which is becoming increasingly vital in South Korea due to the country's limited water resources. Manufacturers have concentrated on creating environmentally friendly faucets that reduce water consumption. The COVID-19 epidemic had a significant impact on the global economy, with South Korea's faucet market being no exception. The initial phase of the pandemic disrupted supply chains, disrupting raw material availability and several firms' production processes. However, the market adjusted rapidly to the new normal. The epidemic raised consumer awareness of hygiene and sanitation, resulting in a rise in demand for touchless and sensor-activated faucets that reduce contact and the danger of virus transmission. The South Korean faucet market is seeing many trends and innovations that are influencing its future. Smart faucets with digital controls and connectivity functions are increasingly popular among tech-savvy customers. According to the research report, "South Korea Faucet Market Research Report, 2029," published by Actual Market Research, the South Korea faucet market is anticipated to add to more than USD 840 Million by 2024–29. South Korea has experienced tremendous urbanisation in recent decades, resulting in an increase in residential and commercial construction projects. This urban expansion has increased demand for sophisticated, high-quality plumbing fittings, such as faucets. Rising disposable incomes have fuelled market expansion by allowing consumers to engage in home improvement projects and prioritise aesthetics and utility when selecting fixtures. The South Korean faucet market is distinguished by a mix of domestic and international competitors, each adding to the market's dynamism and diversity. Leading local enterprises such as Hahn and Company, Woongjin Coway, and Namyang dominate the market, emphasising quality, design, and innovation. Woongjin Coway, another significant participant, prioritises environmental responsibility and consumer happiness. The company's product line caters to a wide range of market sectors, from budget-conscious consumers to luxury shoppers looking for high-end designs. The growing competition between domestic and international players needs ongoing innovation and distinction. Additionally, economic changes and shifting consumer tastes necessitate manufacturers' adaptability and responsiveness to market dynamics. As people desire more convenience and connectivity in their homes, smart faucets are gaining popularity. These products frequently include digital controls, voice activation, and connectivity with smart home systems, letting customers to tailor their water-usage experience. The use of Internet of Things (IoT) technology in faucets is consistent with South Korea's position as a leader in technological innovation, allowing manufacturers to differentiate themselves in a competitive market.

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The South Korean faucet market is an important part of the country's expanding home remodelling and building sector. The market is divided into two major segments: bathroom faucets and kitchen faucets. Bathroom faucets contribute significantly to the overall aesthetic and functionality of a bathroom. They come in a variety of designs, finishes, and features to meet the varying needs of South Korean consumers. Bathroom faucets in South Korea are designed to provide both flair and functionality while taking up minimal space. Kitchen faucets, on the other hand, prioritise use, durability, and functionality. South Korean kitchens frequently exhibit a mix of heritage and contemporary, and kitchen faucets must accommodate this variety. Pull-out spouts, dual spray settings, and filtration systems are becoming more prevalent. Consumers need faucets that are both convenient and efficient, reflecting their fast-paced lifestyles and the great value they place on kitchen activities. Currently, the kitchen faucet category is somewhat ahead in the South Korean market. This leadership is primarily motivated by an increased attention on kitchen aesthetics and utility, which is fuelled by the growing popularity of open kitchens and sociable meals. Major shops, such as Lotte Mart, Homeplus, and E-Mart, dominate the offline sector, offering a diverse selection of domestic and worldwide faucet brands. The internet market, represented by platforms such as Gmarket, Coupang, and 11st, is expanding rapidly, particularly among younger consumers who value the convenience of online buying. In South Korea, faucets are usually classified into many varieties based on their functioning, design, and technological aspects. In the current South Korean market, touchless faucets are developing as the dominant sector. This surge in popularity can be linked to a variety of factors, including increased consumer awareness of hygiene, technical developments, and government programs to promote water conservation. In the current South Korean market, touchless faucets are developing as the dominant sector. This surge in popularity can be linked to a variety of factors, including increased consumer awareness of hygiene, technical developments, and government programs to promote water conservation. Single handed faucets are renowned for their sleek look and functionality, and are commonly found in modern bathrooms and kitchens. Double handled faucets have separate knobs for hot and cold water, and they provide fine control over water temperature. They are widely utilised in traditional settings and are valued for their timeless appearance and feel. Smart faucets incorporate digital technology and provide capabilities such as voice control, temperature adjustments, and water usage monitoring. They are a growing trend in South Korea, appealing to tech-savvy consumers who value the convenience and efficiency provided by smart home technologies. The South Korean faucet market is a vibrant and competitive industry that serves both commercial and residential customers. Commercial faucets are intended for usage in a variety of public and commercial environments, including hotels, restaurants, office buildings, hospitals, and schools. Commercial faucets are often designed to be durable, efficient, and easy to maintain. They frequently include touchless or sensor-controlled mechanisms to increase hygiene and prevent water waste, which is critical in high-traffic areas. Residential faucets emphasise aesthetics, customisation, and user-friendliness, responding to homeowners' different preferences. They come in a variety of configurations, including single- and double-handle, wall-mounted, pull-out, and smart faucets. South Korean homeowners are more focused on interior design and personalisation of their living spaces. This trend has resulted in an increase in demand for home faucets that not only provide functionality but also improve the aesthetics of kitchens and bathrooms. Major stores, including Lotte Mart, Homeplus, and E-Mart, dominate offline distribution. These vendors provide a diverse selection of home faucet brands and styles, catering to a variety of consumer preferences and budgets.

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In the South Korean faucet market, both manual and automatic faucets are common, catering to varied consumer preferences and requirements. Manual faucets are the conventional style that use handles to control water flow and temperature. They are commonly utilised in South Korean households due to their ease of use, durability, and low cost. Local brands such as Hankook Chinaware and Rinnai Korea, as well as worldwide competitors like Grohe, Kohler, and Hansgrohe, are major players in the manual faucet segment. These companies sell their items in retail stores, home improvement centres, and online marketplaces such as Coupang, Gmarket, and 11st. TV commercials, print media, and digital marketing are common advertising tactics used to promote product benefits, design aesthetics, and durability. Automatic or touchless faucets employ sensors to detect movements and regulate water flow, boosting hygiene and convenience. This segment has grown significantly in public spaces, commercial structures, and modern residential constructions. Leading suppliers include major companies such as Moen and Delta, as well as local innovators like Hyundai Livart and LG Hausys. Automatic faucets are distributed B2B to construction companies, architects, and designers, as well as B2C through specialised showrooms and online merchants. The manual faucet segment now dominates the South Korean market in terms of volume due to its widespread installation in residential premises. However, the automatic faucet category is quickly expanding, driven by rising hygiene awareness, technological developments, and demand from commercial and high-end residential projects. In the South Korean faucet industry, both plastic and metal faucets are available to meet a variety of consumer tastes, budgets, and usage conditions. Plastic faucets are often made of materials such as ABS (Acrylonitrile Butadiene Styrene) or PP (Polypropylene), which provide benefits such as lightweight, corrosion resistance, and low cost. They are often utilised in low-cost houses, rental properties, and temporary installations. Local companies such as Shinil and Dongbu Hannong, as well as imported products from China and Southeast Asia, are major players in the plastic faucet market. Metal faucets, often composed of brass, stainless steel, or zinc alloys, are preferred due to their longevity, aesthetic appeal, and superior quality. They are commonly used in both residential and commercial settings, with finishes such as chrome, brushed nickel, and matte black catering to a variety of style preferences. Local manufacturers like Hankook Chinaware and Rinnai Korea are among the leading suppliers of metal faucets, as are worldwide giants such as Grohe, Kohler, Hansgrohe, and Moen. Metal faucets are the largest category in the South Korean market in terms of volume and value.

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Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Faucet market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Application • Kitchen • Bathroom • Others By Type • Pull out faucets • Pull down faucets • Single handle faucets • Dual handle faucets • Separate spray faucets • Pot filler faucets • Motion detection faucets • Others By End User • Commercial • Residential By Technology • Manual • Automatic By Materials • Metals • Plastics The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Faucet industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.