South Korea Composites Market Size & Outlook, 2022-2030
South Korea composites market, 2018-2030 (US$M)
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South Korea composites market highlights
- The South Korea composites market generated a revenue of USD 3,210.2 million in 2022 and is expected to reach USD 5,664.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.4% from 2023 to 2030.
- In terms of segment, glass fiber others was the largest revenue generating product in 2022.
- Carbon Fiber is the most lucrative product segment registering the fastest growth during the forecast period.
Composites market data book summary
| Market revenue in 2022 | USD 3,210.2 million |
| Market revenue in 2030 | USD 5,664.3 million |
| Growth rate | 7.4% (CAGR from 2022 to 2030) |
| Largest segment | Glass fiber others |
| Fastest growing segment | Carbon Fiber |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Fiber, Glass Fiber Others |
| Key market players worldwide | Teijin Ltd, Toray Industries Inc, Owens-Corning Inc, PPG Industries Inc, Huntsman Corp, SGL Group, Hexcel Corp, DuPont de Nemours Inc, Compagnie de Saint-Gobain SA, Weyerhaeuser Co, Cytec Industries, Jushi, KINECO, Momentive, Veplas Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.4% of the global composites market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China composites market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 17,810.6 million by 2030.
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Composites Market Scope
Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea composites 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 composites market will help companies and investors design strategic landscapes.
Glass fiber others was the largest segment with a revenue share of 54.21% in 2022. Horizon Databook has segmented the South Korea composites market based on carbon fiber, glass fiber others covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is one of the highly developed countries in Asia Pacific region owing to high scale industrialization over the last few decades. The increasing income of the population has resulted in the growing demand for medical technology and infrastructure.
The composites market is further expected to grow owing to new investments in manufacturing facilities in the country. South Korea accounted for the fifth largest producer of passenger cars globally accounting for over 13% of the global manufacturing output.
Major automakers operating in the country include Hyundai Motors, Kia Motors, SsangYong Motors, Renault, and GM Korea among others. These players are also engaged in the supply of auto parts to major multinational automakers across the globe.
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Target buyers of South Korea composites market databook
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Our clientele includes a mix of composites market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea composites market , including forecasts for subscribers. This country databook contains high-level insights into South Korea composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea composites market size, by product, 2018-2030 (US$M)
South Korea Composites Market Outlook Share, 2022 & 2030 (US$M)
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