South Korea Plastic To Fuel Market Size & Outlook
South Korea plastic to fuel market, 2018-2030 (US$M)
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South Korea plastic to fuel market highlights
- The South Korea plastic to fuel market generated a revenue of USD 9.5 million in 2023 and is expected to reach USD 47.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 25.7% from 2024 to 2030.
- In terms of segment, pyrolysis was the largest revenue generating technology in 2023.
- Depolymerization is the most lucrative technology segment registering the fastest growth during the forecast period.
Plastic to fuel market data book summary
| Market revenue in 2023 | USD 9.5 million |
| Market revenue in 2030 | USD 47.2 million |
| Growth rate | 25.7% (CAGR from 2023 to 2030) |
| Largest segment | Pyrolysis |
| Fastest growing segment | Depolymerization |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pyrolysis, Depolymerization, Gasification |
| Key market players worldwide | Plastic2Oil Inc, Neste OYJ, Agilyx ASA Ordinary Shares |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.8% of the global plastic to fuel market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China plastic to fuel market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 682.0 million by 2030.
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Plastic To Fuel Market Scope
Plastic To Fuel Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea plastic to fuel 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 to fuel market will help companies and investors design strategic landscapes.
Pyrolysis was the largest segment with a revenue share of 86.32% in 2023. Horizon Databook has segmented the South Korea plastic to fuel market based on pyrolysis, depolymerization, gasification covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is one of the largest plastics consumers and after China enacted ban on the import of most plastics waste in 2018 South Korea moved away from exporting its plastic waste towards recycling of plastics waste and then produce fuel and other reusable products or decrease the consumption of plastics across the country.
Seoul is one of top city in recycling of plastics waste. Owing to the strict legislation for plastics waste has helped in reduce the household plastics waste and plastics waste coming from industrial sector are being recycled and then converted into fuel and other products.
For instance, in 2016, Veolia Ecocycle recycled the plastics waste and converted it into solid fuels, i.e. approximately 70,000 metric tonnes of plastics waste is used to manufacture 60,000 metric tonnes of solid recovered fuel (SRF).
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Our clientele includes a mix of plastic to fuel 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 plastic to fuel market , including forecasts for subscribers. This country databook contains high-level insights into South Korea plastic to fuel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea plastic to fuel market size, by technology, 2018-2030 (US$M)
South Korea Plastic To Fuel Market Outlook Share, 2023 & 2030 (US$M)
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