South Korea Epoxy Resin Market Size & Outlook, 2022-2030
South Korea epoxy resin market, 2019-2030 (US$M)
Related Markets
South Korea epoxy resin market highlights
- The South Korea epoxy resin market generated a revenue of USD 526.4 million in 2022 and is expected to reach USD 804.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.4% from 2023 to 2030.
- In terms of segment, paints & coatings was the largest revenue generating application in 2022.
- Construction is the most lucrative application segment registering the fastest growth during the forecast period.
Epoxy resin market data book summary
| Market revenue in 2022 | USD 526.4 million |
| Market revenue in 2030 | USD 804.4 million |
| Growth rate | 5.4% (CAGR from 2022 to 2030) |
| Largest segment | Paints & coatings |
| Fastest growing segment | Construction |
| Historical data | 2019 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Paints & Coatings, Wind Turbines, Composites, Construction, Electrical & Electronics, Adhesives |
| Key market players worldwide | 3M Co, Aditya Birla Group, Basf SE, Solvay SA, Huntsman Corp, Olin Corp, Sika AG, Nan Ya Plastics, China Petroleum & Chemical Corp Class H, Momentive, Kolon Industries, Nagase & Co Ltd |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.1% of the global epoxy resin market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China epoxy resin 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 767.3 million by 2030.
Paints & coatings was the largest segment with a revenue share of 37.54% in 2022. Horizon Databook has segmented the South Korea epoxy resin market based on paints & coatings, wind turbines, composites, construction, electrical & electronics, adhesives covering the revenue growth of each sub-segment from 2019 to 2030.
The market largely has open trade policies and several free-trade agreements that are expected to encourage and attract foreign investors in paints & coatings, construction, electrical & electronics, and construction industries driving the market.
In December 2023, the South Korean government announced its plan to increase the global EV chargers share of Korea by 10% in 2030 from 1% in 2023, which is anticipated to further propel the demand of epoxy resins.
Epoxy resins are used as insulators, sealing materials, and encapsulators in EV chargers providing resistance to shock and vibration, as well as creating a seal against moisture, solvents, and corrosive agents.
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Epoxy Resin Market Scope
Epoxy Resin Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea epoxy resin market size, by application, 2019-2030 (US$M)
South Korea Epoxy Resin Market Outlook Share, 2022 & 2030 (US$M)
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