South Korea Plastic Compounding Market Size & Outlook
South Korea plastic compounding market, 2019-2030 (US$M)
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South Korea plastic compounding market highlights
- The South Korea plastic compounding market generated a revenue of USD 1,736.9 million in 2023 and is expected to reach USD 2,778.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, polypropylene (pp) was the largest revenue generating product in 2023.
- Polyethylene Terephthalate (PET) is the most lucrative product segment registering the fastest growth during the forecast period.
Plastic compounding market data book summary
| Market revenue in 2023 | USD 1,736.9 million |
| Market revenue in 2030 | USD 2,778.2 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Polyethylene Terephthalate (PET) |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates (TPV), Thermoplastic Polyolefins (TPO), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Acrylonitrile Butadiene Systems (ABS), Other Product |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DL Holdings Group Ltd, LyondellBasell Industries NV Class A, DuPont de Nemours Inc, Asahi Kasei Corp, Covestro AG, Washington Penn, Ascend Performance Materials, Kuraray Co Ltd, Arkema SA, Teijin Ltd, Lanxess AG, Solvay SA, Ravago |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.6% of the global plastic compounding market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China plastic compounding 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 7,797.5 million by 2030.
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Plastic Compounding Market Scope
Plastic Compounding Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea plastic compounding 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 plastic compounding market will help companies and investors design strategic landscapes.
Polypropylene (pp) was the largest segment with a revenue share of 32.34% in 2023. Horizon Databook has segmented the South Korea plastic compounding market based on polyethylene (pe), polypropylene (pp), thermoplastic vulcanizates (tpv), thermoplastic polyolefins (tpo), polyvinyl chloride (pvc), polystyrene (ps), polyethylene terephthalate (pet), polybutylene terephthalate (pbt), polyamide (pa), polycarbonate (pc), acrylonitrile butadiene systems (abs), other product covering the revenue growth of each sub-segment from 2019 to 2030.
South Korea plastic compounding market is exhibiting a promising growth led by the expanding application sectors. Increasing overseas export opportunities as well as favorable government policies are likely to boost the market growth in the coming years.
Presence of key automotive manufacturers in South Korea such as Hyundai Motor Group, Kia Motor Corporation, GM Korea Company, SsangYong Motor Company, and Renault Samsung Motors (RSM) is anticipated to create significant demand for plastic compounding in the country.
In addition, favorable government regulation as well as infrastructure developments are attracting investments from major automotive manufacturers. South Korea mainly exports cars to the U.S., Saudi Arabia, Canada, Australia, the UK, Germany, Russia, Mexico, and Italy among others.
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Target buyers of South Korea plastic compounding market databook
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Our clientele includes a mix of plastic compounding market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea plastic compounding market , including forecasts for subscribers. This country databook contains high-level insights into South Korea plastic compounding market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea plastic compounding market size, by product, 2019-2030 (US$M)
South Korea Plastic Compounding Market Outlook Share, 2023 & 2030 (US$M)
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