South Korea Chemical Recycling Of Plastics Market Size & Outlook
South Korea chemical recycling of plastics market, 2018-2030 (US$M)
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South Korea chemical recycling of plastics market highlights
- The South Korea chemical recycling of plastics market generated a revenue of USD 514.3 million in 2023 and is expected to reach USD 729.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.1% from 2024 to 2030.
- In terms of segment, depolymerization was the largest revenue generating type in 2023.
- Depolymerization is the most lucrative type segment registering the fastest growth during the forecast period.
Chemical recycling of plastics market data book summary
| Market revenue in 2023 | USD 514.3 million |
| Market revenue in 2030 | USD 729.1 million |
| Growth rate | 5.1% (CAGR from 2023 to 2030) |
| Largest segment | Depolymerization |
| Fastest growing segment | Depolymerization |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Depolymerization, Dissolution, Conversion |
| Key market players worldwide | Agilyx ASA Ordinary Shares, Basf SE, INEOS, Veolia Environnement SA, Eastman Chemical Co, SABIC, LyondellBasell Industries NV Class A, Maire Tecnimont, Recycling Technologies, JEPLAN |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.9% of the global chemical recycling of plastics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China chemical recycling of plastics 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 1,534.2 million by 2030.
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Chemical Recycling Of Plastics Market Scope
Chemical Recycling Of Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea chemical recycling of plastics 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 chemical recycling of plastics market will help companies and investors design strategic landscapes.
Depolymerization was the largest segment with a revenue share of 45.71% in 2023. Horizon Databook has segmented the South Korea chemical recycling of plastics market based on depolymerization, dissolution, conversion covering the revenue growth of each sub-segment from 2018 to 2030.
In November 2023, SK Inc. commenced to build the world's first advanced plastic recycling cluster in Ulsan. This initiative involved the integration of advanced recycling technologies from global partners alongside SK Geocentric's own chemical processing.
The Ulsan Advanced Recycling Cluster (ARC) aims to revolutionize Korea's petrochemical industry by applying cutting-edge technologies to reinvent plastics, turn waste plastic into new products, and promote a circular economy.
Once operational, this complex will be capable of processing 320,000 metric tons of plastic scrap annually, significantly contributing to sustainable resource management. This positive plastic recycling outlook is projected to bolster the growth of the country's chemical-based plastic recycling market over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea chemical recycling of plastics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea chemical recycling of plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea chemical recycling of plastics market size, by type, 2018-2030 (US$M)
South Korea Chemical Recycling Of Plastics Market Outlook Share, 2023 & 2030 (US$M)
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