South Korea Paints And Coatings Market Size & Outlook
South Korea paints and coatings market, 2018-2030 (US$M)
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South Korea paints and coatings market highlights
- The South Korea paints and coatings market generated a revenue of USD 5,415,471.4 million in 2023 and is expected to reach USD 8,103,723.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.9% from 2024 to 2030.
- In terms of segment, waterborne coatings was the largest revenue generating product in 2023.
- Waterborne coatings is the most lucrative product segment registering the fastest growth during the forecast period.
Paints and coatings market data book summary
| Market revenue in 2023 | USD 5,415,471.4 million |
| Market revenue in 2030 | USD 8,103,723.1 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Waterborne coatings |
| Fastest growing segment | Waterborne coatings |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Radiation cured coatings, Powder coatings, Waterborne coatings, Solvent-borne coatings |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.7% of the global paints and coatings market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan paints and coatings market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 13,924,456.1 million by 2030.
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Paints and Coatings Market Scope
Paints and Coatings Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea paints and coatings 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 paints and coatings market will help companies and investors design strategic landscapes.
Waterborne coatings was the largest segment with a revenue share of 46.64% in 2023. Horizon Databook has segmented the South Korea paints and coatings market based on radiation cured coatings, powder coatings, waterborne coatings, solvent-borne coatings covering the revenue growth of each sub-segment from 2018 to 2030.
The challenges faced by South Korea construction industry in 2023, such as the decline in construction deals and industry slowdown, can have and indirect negative impact on paints and coatings market. With fewer construction [projects and a cooling property market, the demand for paints and coatings in the industry may have been affected.
Additionally, the merger tween Asiana Airlines and Korean Air, which raised concerns about the competition on overlapping routes, could implications for the transportation and logistics sector. Any changes in these sectors can directly impact on the demand for paints & coatings in related industries.
Thus, the developments in the construction and aviation sectors in 2023 may have had an impact on the growth of the paints & coatings market in South Kore region.
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Our clientele includes a mix of paints and coatings market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea paints and coatings market , including forecasts for subscribers. This country databook contains high-level insights into South Korea paints and coatings market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea paints and coatings market size, by product, 2018-2030 (US$M)
South Korea Paints and Coatings Market Outlook Share, 2023 & 2030 (US$M)
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