South Korea Engineering Plastics Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 5.5% (2025-2033)
The market is growing. This is due to new technology and high demand for cars and electronics. Better performance and sustainability trends are boosting adoption in various applications. According to the latest report by IMARC Group, the South Korea engineering plastics market size reached USD 2.5 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 4.2 billion by 2033, exhibiting a growth rate (CAGR) of 5.5% during 2025-2033.
South Korea Engineering Plastics Industry Trends and Drivers:
The engineering plastics market in South Korea is growing rapidly. This growth comes from the country's strong manufacturing. Also, demand is rising in many industries. Manufacturers value engineering plastics for their strong mechanical properties, thermal resistance, and durability. They play a key role in sectors like automotive, electronics, and construction. South Korea leads in automotive manufacturing, where companies produce high-performance vehicles. This shows we need lightweight, strong plastics. They can boost fuel efficiency and lower emissions. The electronics industry is crucial for the economy. It relies on engineering plastics for parts in smartphones, semiconductors, and home appliances. Here, precision and reliability are crucial. The shift toward sustainable materials is also impacting the market. Manufacturers are exploring bio-based and recyclable plastics to meet global environmental standards. New polymer blends and composites offer customized solutions for different industry needs. South Korea invests in research and development. This support comes from both the government and the private sector.
The market is changing to meet new needs. This includes areas like renewable energy and medical devices. In renewable energy, strong plastics are key for solar panels and wind turbines. They need to resist heat and chemicals well. This supports South Korea’s commitment to green energy. The medical field is using more biocompatible plastics. An aging population and rising healthcare standards drive this trend. Researchers use them in implants, diagnostic tools, and packaging. The construction industry is using engineering plastics for infrastructure projects. They enjoy these materials because they resist corrosion and last a long time. Local and international companies are teaming up. They aim to create high-performance materials in this competitive landscape. However, fluctuating raw material prices and strict regulations present challenges. Companies are investing in cost-effective and eco-friendly alternatives. South Korea trade partnerships and emphasis on exports boost the market. This keeps global demand steady. The engineering plastics market in South Korea is growing. Industries focus on sustainability and innovation. This growth adapts to new technologies and changing consumer needs.
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South Korea Engineering Plastics Industry Segmentation:
The report has segmented the market into the following categories:
Resin Type Insights:
- Fluoropolymer
- Ethylenetetrafluoroethylene (ETFE)
- Fluorinated Ethylene-propylene (FEP)
- Polytetrafluoroethylene (PTFE)
- Polyvinylfluoride (PVF)
- Polyvinylidene Fluoride (PVDF)
- Others
- Liquid Crystal Polymer (LCP)
- Polyamide (PA)
- Aramid
- Polyamide (PA) 6
- Polyamide (PA) 66
- Polyphthalamide
- Polybutylene Terephthalate (PBT)
- Polycarbonate (PC)
- Polyether Ether Ketone (PEEK)
- Polyethylene Terephthalate (PET)
- Polyimide (PI)
- Polymethyl Methacrylate (PMMA)
- Polyoxymethylene (POM)
- Styrene Copolymers (ABS and SAN)
End Use Industry Insights:
- Aerospace
- Automotive
- Building and Construction
- Electrical and Electronics
- Industrial and Machinery
- Packaging
- Others
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined, along with the profiles of the key players.
- INEOS Group
- Kolon Industries Inc.
- Korea Engineering Plastics Co., Ltd.
- Kumho Petrochemical
- LG Chem (LG Corp)
- Lotte Chemical Corporation (Lotte Corporation)
- Samyang Corporation
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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