South Korea Plastic Market Size & Outlook, 2023-2030
South Korea plastic market, 2018-2030 (US$M)
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South Korea plastic market highlights
- The South Korea plastic market generated a revenue of USD 14,260.4 million in 2023 and is expected to reach USD 21,066.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, packaging was the largest revenue generating end use in 2023.
- Medical Devices is the most lucrative end use segment registering the fastest growth during the forecast period.
Plastic market data book summary
| Market revenue in 2023 | USD 14,260.4 million |
| Market revenue in 2030 | USD 21,066.8 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | Medical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging, Construction, Electricals & Electronics, Automotive, Medical Devices, Agriculture, Furniture & Bedding, Consumer Goods, Utility |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Sumitomo Chemical Co Ltd, Arkema SA, Celanese Corp Class A, Eastman Chemical Co, Chevron Corp, Lotte Chemical, Exxon Mobil Corp, Formosa Plastics Group, Covestro AG, Toray Industries Inc, Mitsui & Co Ltd, Teijin Ltd, INEOS, LG Chem, Lanxess AG, CHIMEI, Huntsman Corp, LyondellBasell Industries NV Class A, Miller Waste Mills |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.2% of the global plastic market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan plastic market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 11,262.7 million by 2030.
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Plastic Market Scope
Plastic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea plastic 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 market will help companies and investors design strategic landscapes.
Packaging was the largest segment with a revenue share of 35.35% in 2023. Horizon Databook has segmented the South Korea plastic market based on packaging, construction, electricals & electronics, automotive, medical devices, agriculture, furniture & bedding, consumer goods, utility covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea, the fourth-largest economy in Asia, is home to several multinational companies manufacturing diverse goods and providing numerous services. The market largely has open trade policies and has also signed several free-trade agreements that are expected to encourage and attract foreign investors in transport, consumer goods, electronics, and construction.
Rapid technological advancements, growth of tourism, rapidly expanding population, and high urbanization rates are major factors encouraging growth in these sectors. Furthermore, the trend of sustainable materials and related stringent regulations is driving plastics demand in transport, consumer goods, electronics, and construction industries.
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Target buyers of South Korea plastic market databook
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Our clientele includes a mix of plastic 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 market , including forecasts for subscribers. This country databook contains high-level insights into South Korea plastic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea plastic market size, by end use, 2018-2030 (US$M)
South Korea Plastic Market Outlook Share, 2023 & 2030 (US$M)
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