South Korea Wood Plastic Composites Market Size & Outlook
South Korea wood plastic composites market, 2018-2030 (US$M)
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South Korea wood plastic composites market highlights
- An overview of the South Korea wood plastic composites market trends heading towards 2030. The market in South Korea generated a revenue of USD 86.7 million in 2021 and is expected to reach USD 241.5 million by 2030.
- The overall growth of the South Korea market from 2021 to 2030. The South Korea market is expected to grow at a CAGR of 12.1% from 2022 to 2030.
- A look at the South Korea market revenues per segment in 2021. In terms of segment, polyethylene was the largest revenue generating product in 2021.
- The segment witnessing the fastest revenue growth within the market. Polypropylene is the most lucrative product segment registering the fastest growth during the forecast period.
Wood plastic composites market data book summary
| Market revenue in 2021 | USD 86.7 million |
| Market revenue in 2030 | USD 241.5 million |
| Growth rate | 12.1% (CAGR from 2021 to 2030) |
| Largest segment | Polyethylene |
| Fastest growing segment | Polypropylene |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polyethylene, Polypropylene, Polyvinylchloride |
| Key market players worldwide | Compagnie de Saint-Gobain SA, Fortune Brands Innovations Inc, FKuR, JM Holdings Co Ltd, TAMKO Building Products, Trex Co Inc, UFP Industries Inc, Advanced Environmental Recycling Technologies, Beologic, Polyplank, Timber Tech |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.5% of the global wood plastic composites market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China wood plastic composites 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 867.4 million by 2030.
Polyethylene was the largest segment with a revenue share of 65.74% in 2021. Horizon Databook has segmented the South Korea wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is a developed nation with a high human development index (HDI), and in terms of its economy ranks 10th in the world. It has a high-income economy and is one of the most industrialized nations in Asia-Pacific.
The developed infrastructure and continuous investment in the construction segment is expected to raise the demand for wood plastic composite products over the forecast period.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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