South Korea Polyethylene Market Size & Outlook, 2022-2030
South Korea polyethylene market, 2018-2030 (US$M)
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South Korea polyethylene market highlights
- The South Korea polyethylene market generated a revenue of USD 3,771.5 million in 2022 and is expected to reach USD 5,031.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.7% from 2023 to 2030.
- In terms of segment, packaging was the largest revenue generating end use in 2022.
- CONSTRUCTION is the most lucrative end use segment registering the fastest growth during the forecast period.
Polyethylene market data book summary
| Market revenue in 2022 | USD 3,771.5 million |
| Market revenue in 2030 | USD 5,031.2 million |
| Growth rate | 3.7% (CAGR from 2022 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | CONSTRUCTION |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PACKAGING, CONSTRUCTION, ELECTRICAL & ELECTRONICS, AUTOMOTIVE, MEDICAL, OTHER END USES |
| Key market players worldwide | Basf SE, Borealis Exploration Ltd, Braskem SA ADR, Dow Inc, Exxon Mobil Corp, LyondellBasell Industries NV Class A, Mitsubishi Chemical Group Corp, China Petroleum & Chemical Corp Class H, Formosa Plastics Group, LG Chem, MOL Group, INEOS, SABIC |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global polyethylene market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China polyethylene market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,273.8 million by 2030.
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Polyethylene Market Scope
Polyethylene Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea polyethylene 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 polyethylene market will help companies and investors design strategic landscapes.
Packaging was the largest segment with a revenue share of 68.9% in 2022. Horizon Databook has segmented the South Korea polyethylene market based on packaging, construction, electrical & electronics, automotive, medical, other end uses covering the revenue growth of each sub-segment from 2018 to 2030.
The strategic geographical location of South Korea and its role in global trade contribute to the growth of polyethylene market in the country. The strategic position of South Korea in international trade, along with its export-oriented manufacturing sector, drives the demand for polyethylene in various markets worldwide.
The strong manufacturing base and stable supply chain also contribute to the growth of polyethylene market in the country. Government initiatives for reducing plastic waste and achieving sustainability goals influence the growth of polyethylene market in South Korea. The government of the country is promoting eco-friendly practices and aiming to reduce plastic waste.
Hence, it is encouraging the use of recycled polyethylene and implementing regulations to minimize single-use plastics. In February 2023, the Government of South Korea approved the use of recycled PET plastics to manufacture new food & beverage containers, aligning with its national sustainability strategy.
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Our clientele includes a mix of polyethylene 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 polyethylene market , including forecasts for subscribers. This country databook contains high-level insights into South Korea polyethylene market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea polyethylene market size, by end use, 2018-2030 (US$M)
South Korea Polyethylene Market Outlook Share, 2022 & 2030 (US$M)
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