South Korea Engineering Plastics Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 4.82 Billion |
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Market Size (2029) | USD 6.79 Billion |
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Largest Share by End User Industry | Electrical and Electronics |
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CAGR (2024 - 2029) | 7.11 % |
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Fastest Growing by End User Industry | Electrical and Electronics |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South Korea Engineering Plastics Market Analysis
The South Korea Engineering Plastics Market size is estimated at 4.82 billion USD in 2024, and is expected to reach 6.79 billion USD by 2029, growing at a CAGR of 7.11% during the forecast period (2024-2029).
4.82 Billion
Market Size in 2024 (USD)
6.79 Billion
Market Size in 2029 (USD)
6.07 %
CAGR (2017-2023)
7.11 %
CAGR (2024-2029)
Largest Market by End-user Industry
56.65 %
value share, Electrical and Electronics, 2023
The electronics segment occupied the highest market share due to the widespread applications of engineering plastics like ABS/SAN, PC, and PA in advanced and smart electrical devices.
Fastest Growing Market by End-user Industry
8.26 %
Projected CAGR, Electrical and Electronics, 2024-2029
The electronics industry is expected to witness the fastest growth due to the properties of engineering plastics such as lightweight, higher flexibility, and good fire resistivity.
Largest Market by Resin Type
33.80 %
value share, Styrene Copolymers (ABS and SAN), 2023
Styrene copolymers have wide applications in the automotive, aerospace, and electronics industries, and they accounted for the largest share in 2022.
Fastest Growing Market by Resin Type
8.31 %
Projected CAGR, Polyether Ether Ketone (PEEK), 2024-2029
PEEK resin is expected to witness the fastest growth due to the rapid adoption of lightweight and high-impact resistance materials in industrial applications to replace traditional metal parts.
Leading Market Player
33.87 %
market share, Lotte Chemical, 2022
In 2022, with the largest production capacity of around 1.5 million tons per year of polymers in South Korea, the company held the largest share. Lotte Chemical offers major resins, including polycarbonate and styrene copolymers.
Electrical and electronics industry to dominate the market demand
- South Korea’s engineering plastics market accounted for around 6.8%, by value, of the Asia-Pacific engineering plastics market in 2022. Engineering plastics are used in interior wall panels and doors in aerospace, packaging, and other applications due to their lightweight nature and high-quality strength, low fatigue, and low flammability. The increased use of resins in the electrical and electronics, automotive, and packaging industries is the primary market driver.
- The electrical and electronics industry is among the market's largest industries, accounting for 4.6% in 2022 compared to the previous year. The demand for consumer electronics is expected to rise in the future due to technological advancements, such as digitalization, robotics, IoT (Internet of Things), and 5G connectivity. The sales of consumer electronics in South Korea are projected to reach USD 17.55 billion in 2027 from USD 16.20 billion in 2023. Electrical and electronic production is projected to reach USD 598 billion in 2029 from USD 400 billion in 2023. Due to the increasing electrical and electronic production, the demand for engineering plastics in the country is projected to grow in the coming years.
- The electrical and electronics industry is the country's fastest-growing consumer of engineering plastics, with a projected CAGR of 8.58% in revenue during the forecast period. Due to the increasing demand for consumer electronics with the advent of IoT, electronics production is also increasing. Thus, the demand for engineering plastics in the country is projected to increase during the forecast period.
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South Korea Engineering Plastics Market Trends
Growing demand for consumer electronics to foster growth
- South Korea is a strategically important market for advanced components and sophisticated customers, especially in the automotive and electronics industries. South Korea’s electrical and electronics production witnessed a CAGR of 1.40% between 2017 and 2019. Rising disposable income, technological advancements, improvements in living standards, etc., drove the electrical and electronics industry. The presence of global market players, like Samsung Electronics and LG Electronics, positively affected electrical and electronics production during 2017-2019.
- In 2020, the country's electrical and electronic production increased slowly, with a growth rate of 4.7% in terms of revenue than the previous year, owing to country-wide lockdowns and supply chain disruptions. In 2021, the country's electrical and electronics production increased at a rate of 17.4%, as online sales increased from USD 135.1 billion in 2020 to USD 168.5 billion in 2021. The primary reason for the industry's expansion is the increased prevalence of smartphones. PC sales increased from USD 43.4 billion in 2020 to USD 47.8 billion in 2021.
- South Korea benefits from the trend of incorporating virtual reality (VR) into consumer electronics products as it increases manufacturing efficiency and lowers prices. South Korea is investing in goods for gaming and entertainment, which has also accelerated the expansion of the country's consumer electronics sector. The surge in demand for technologically advanced consumer electronics and appliances such as smartphones, laptops, computers, cameras, and televisions are expected to boost production at a CAGR of 7% during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth in the demand for commercial and defense aircraft to drive the industry
- Stringent regulations in residential construction to restrain the growth
- Local manufacturing capabilities to boost exports in the future
- Korea plans to cut plastic use by 60% before 2030, and this will boost the recycling of PA and reduction in virgin PA
- Recycled PET production in South Korea was more than 200 kilotons in 2021 with 75% R-PET exported to China
- Rising demand for electric vehicles to propel automotive production
- Evolving consumer trends, coupled with growing e-commerce, to foster growth
- Resin prices to remain under the influence of crude oil prices
- Mechanical recycling of polycarbonate plastics to be challenging because of the poor quality of the recovered material
- South Korea generated over 818 kilotons of WEEE in 2019 which could be an opportunity for manufacturers to produce R-ABS
South Korea Engineering Plastics Industry Overview
The South Korea Engineering Plastics Market is fairly consolidated, with the top five companies occupying 78.84%. The major players in this market are INEOS, Kumho Petrochemical, LG Chem, Lotte Chemical and SK chemicals. (sorted alphabetically).
South Korea Engineering Plastics Market Leaders
INEOS
Kumho Petrochemical
LG Chem
Lotte Chemical
SK chemicals.
Other important companies include BASF SE, Daikin Industries, Ltd., Kolon BASF innoPOM, Inc., Kolon Industries, Inc., Korea Engineering Plastics Co., Ltd., LX MMA, Mitsubishi Chemical Corporation, Saehan Industries Inc, Samyang Corporation, Trinseo.
*Disclaimer: Major Players sorted in alphabetical order.
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South Korea Engineering Plastics Market News
- October 2022: BASF SE introduced two new sustainable POM products, Ultraform LowPCF (Low Product Carbon Footprint) and Ultraform BMB (Biomass Balance), to reduce the carbon footprint, save fossil resources, and support the reduction of greenhouse gas (GHG) emissions.
- August 2022: INEOS announced the introduction of an extension to its high-performance Novodur line of specialty ABS products. The new Novodur E3TZ is an extrusion grade that is suitable for a variety of applications, including food trays, sanitary applications, and suitcases.
- August 2022: INEOS announced the introduction of a comprehensive range of sustainable solutions for its specialty ABS product group Novodur addressing applications in a range of industries, including automotive, electronics, and household. The individual grades come with a significant product carbon footprint (PCF) saving of up to -71% as compared to the respective non-ECO product reference.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 15+ free charts, the section covers rare data on various end-user production trends including passenger vehicle production, commercial vehicle production, motorcycle production, aerospace components production, electrical and electronics production, and regional data for engineering plastics demand etc.
South Korea Engineering Plastics Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Electrical and Electronics
- 4.1.5 Packaging
- 4.2 Import And Export Trends
- 4.3 Price Trends
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4.4 Recycling Overview
- 4.4.1 Polyamide (PA) Recycling Trends
- 4.4.2 Polycarbonate (PC) Recycling Trends
- 4.4.3 Polyethylene Terephthalate (PET) Recycling Trends
- 4.4.4 Styrene Copolymers (ABS and SAN) Recycling Trends
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4.5 Regulatory Framework
- 4.5.1 South Korea
- 4.6 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Building and Construction
- 5.1.4 Electrical and Electronics
- 5.1.5 Industrial and Machinery
- 5.1.6 Packaging
- 5.1.7 Other End-user Industries
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5.2 Resin Type
- 5.2.1 Fluoropolymer
- 5.2.1.1 By Sub Resin Type
- 5.2.1.1.1 Ethylenetetrafluoroethylene (ETFE)
- 5.2.1.1.2 Fluorinated Ethylene-propylene (FEP)
- 5.2.1.1.3 Polytetrafluoroethylene (PTFE)
- 5.2.1.1.4 Polyvinylfluoride (PVF)
- 5.2.1.1.5 Polyvinylidene Fluoride (PVDF)
- 5.2.1.1.6 Other Sub Resin Types
- 5.2.2 Liquid Crystal Polymer (LCP)
- 5.2.3 Polyamide (PA)
- 5.2.3.1 By Sub Resin Type
- 5.2.3.1.1 Aramid
- 5.2.3.1.2 Polyamide (PA) 6
- 5.2.3.1.3 Polyamide (PA) 66
- 5.2.3.1.4 Polyphthalamide
- 5.2.4 Polybutylene Terephthalate (PBT)
- 5.2.5 Polycarbonate (PC)
- 5.2.6 Polyether Ether Ketone (PEEK)
- 5.2.7 Polyethylene Terephthalate (PET)
- 5.2.8 Polyimide (PI)
- 5.2.9 Polymethyl Methacrylate (PMMA)
- 5.2.10 Polyoxymethylene (POM)
- 5.2.11 Styrene Copolymers (ABS and SAN)
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 BASF SE
- 6.4.2 Daikin Industries, Ltd.
- 6.4.3 INEOS
- 6.4.4 Kolon BASF innoPOM, Inc.
- 6.4.5 Kolon Industries, Inc.
- 6.4.6 Korea Engineering Plastics Co., Ltd.
- 6.4.7 Kumho Petrochemical
- 6.4.8 LG Chem
- 6.4.9 Lotte Chemical
- 6.4.10 LX MMA
- 6.4.11 Mitsubishi Chemical Corporation
- 6.4.12 Saehan Industries Inc
- 6.4.13 Samyang Corporation
- 6.4.14 SK chemicals.
- 6.4.15 Trinseo
7. KEY STRATEGIC QUESTIONS FOR ENGINEERING PLASTICS CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- PRODUCTION REVENUE OF AEROSPACE COMPONENTS, USD, SOUTH KOREA, 2017 - 2029
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, SOUTH KOREA, 2017 - 2029
- Figure 4:
- PRODUCTION REVENUE OF ELECTRICAL AND ELECTRONICS, USD, SOUTH KOREA, 2017 - 2029
- Figure 5:
- PRODUCTION VOLUME OF PLASTIC PACKAGING, TONS, SOUTH KOREA, 2017 - 2029
- Figure 6:
- IMPORT REVENUE OF ENGINEERING PLASTICS BY RESIN TYPE, USD, SOUTH KOREA, 2017 - 2021
- Figure 7:
- EXPORT REVENUE OF ENGINEERING PLASTICS BY RESIN TYPE, USD, SOUTH KOREA, 2017 - 2021
- Figure 8:
- PRICE OF ENGINEERING PLASTICS BY RESIN TYPE, USD PER KG, SOUTH KOREA, 2017 - 2021
- Figure 9:
- VOLUME OF ENGINEERING PLASTICS CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 10:
- VALUE OF ENGINEERING PLASTICS CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 11:
- VOLUME OF ENGINEERING PLASTICS CONSUMED BY END USER INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 12:
- VALUE OF ENGINEERING PLASTICS CONSUMED BY END USER INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 13:
- VOLUME SHARE OF ENGINEERING PLASTICS CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 14:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 15:
- VOLUME OF ENGINEERING PLASTICS CONSUMED IN AEROSPACE INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 16:
- VALUE OF ENGINEERING PLASTICS CONSUMED IN AEROSPACE INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 17:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED IN AEROSPACE INDUSTRY BY RESIN TYPE, %, SOUTH KOREA, 2022 VS 2029
- Figure 18:
- VOLUME OF ENGINEERING PLASTICS CONSUMED IN AUTOMOTIVE INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 19:
- VALUE OF ENGINEERING PLASTICS CONSUMED IN AUTOMOTIVE INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 20:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED IN AUTOMOTIVE INDUSTRY BY RESIN TYPE, %, SOUTH KOREA, 2022 VS 2029
- Figure 21:
- VOLUME OF ENGINEERING PLASTICS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 22:
- VALUE OF ENGINEERING PLASTICS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 23:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY RESIN TYPE, %, SOUTH KOREA, 2022 VS 2029
- Figure 24:
- VOLUME OF ENGINEERING PLASTICS CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 25:
- VALUE OF ENGINEERING PLASTICS CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 26:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY BY RESIN TYPE, %, SOUTH KOREA, 2022 VS 2029
- Figure 27:
- VOLUME OF ENGINEERING PLASTICS CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 28:
- VALUE OF ENGINEERING PLASTICS CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 29:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY BY RESIN TYPE, %, SOUTH KOREA, 2022 VS 2029
- Figure 30:
- VOLUME OF ENGINEERING PLASTICS CONSUMED IN PACKAGING INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 31:
- VALUE OF ENGINEERING PLASTICS CONSUMED IN PACKAGING INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 32:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED IN PACKAGING INDUSTRY BY RESIN TYPE, %, SOUTH KOREA, 2022 VS 2029
- Figure 33:
- VOLUME OF ENGINEERING PLASTICS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, TONS, SOUTH KOREA, 2017 - 2029
- Figure 34:
- VALUE OF ENGINEERING PLASTICS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, SOUTH KOREA, 2017 - 2029
- Figure 35:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY RESIN TYPE, %, SOUTH KOREA, 2022 VS 2029
- Figure 36:
- VOLUME OF ENGINEERING PLASTICS CONSUMED BY RESIN TYPE, TONS, SOUTH KOREA, 2017 - 2029
- Figure 37:
- VALUE OF ENGINEERING PLASTICS CONSUMED BY RESIN TYPE, USD, SOUTH KOREA, 2017 - 2029
- Figure 38:
- VOLUME SHARE OF ENGINEERING PLASTICS CONSUMED BY RESIN TYPE, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 39:
- VALUE SHARE OF ENGINEERING PLASTICS CONSUMED BY RESIN TYPE, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 40:
- VOLUME OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, TONS, SOUTH KOREA, 2017 - 2029
- Figure 41:
- VALUE OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, USD, SOUTH KOREA, 2017 - 2029
- Figure 42:
- VOLUME SHARE OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 43:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 44:
- VOLUME OF ETHYLENETETRAFLUOROETHYLENE (ETFE) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 45:
- VALUE OF ETHYLENETETRAFLUOROETHYLENE (ETFE) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 46:
- VALUE SHARE OF ETHYLENETETRAFLUOROETHYLENE (ETFE) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 47:
- VOLUME OF FLUORINATED ETHYLENE-PROPYLENE (FEP) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 48:
- VALUE OF FLUORINATED ETHYLENE-PROPYLENE (FEP) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 49:
- VALUE SHARE OF FLUORINATED ETHYLENE-PROPYLENE (FEP) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 50:
- VOLUME OF POLYTETRAFLUOROETHYLENE (PTFE) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 51:
- VALUE OF POLYTETRAFLUOROETHYLENE (PTFE) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 52:
- VALUE SHARE OF POLYTETRAFLUOROETHYLENE (PTFE) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 53:
- VOLUME OF POLYVINYLFLUORIDE (PVF) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 54:
- VALUE OF POLYVINYLFLUORIDE (PVF) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 55:
- VALUE SHARE OF POLYVINYLFLUORIDE (PVF) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 56:
- VOLUME OF POLYVINYLIDENE FLUORIDE (PVDF) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 57:
- VALUE OF POLYVINYLIDENE FLUORIDE (PVDF) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 58:
- VALUE SHARE OF POLYVINYLIDENE FLUORIDE (PVDF) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 59:
- VOLUME OF OTHER SUB RESIN TYPES CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 60:
- VALUE OF OTHER SUB RESIN TYPES CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 61:
- VALUE SHARE OF OTHER SUB RESIN TYPES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 62:
- VOLUME OF LIQUID CRYSTAL POLYMER (LCP) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 63:
- VALUE OF LIQUID CRYSTAL POLYMER (LCP) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 64:
- VALUE SHARE OF LIQUID CRYSTAL POLYMER (LCP) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 65:
- VOLUME OF POLYAMIDE (PA) CONSUMED BY SUB RESIN TYPE, TONS, SOUTH KOREA, 2017 - 2029
- Figure 66:
- VALUE OF POLYAMIDE (PA) CONSUMED BY SUB RESIN TYPE, USD, SOUTH KOREA, 2017 - 2029
- Figure 67:
- VOLUME SHARE OF POLYAMIDE (PA) CONSUMED BY SUB RESIN TYPE, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 68:
- VALUE SHARE OF POLYAMIDE (PA) CONSUMED BY SUB RESIN TYPE, %, SOUTH KOREA, 2017, 2023, AND 2029
- Figure 69:
- VOLUME OF ARAMID CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 70:
- VALUE OF ARAMID CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 71:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 72:
- VOLUME OF POLYAMIDE (PA) 6 CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 73:
- VALUE OF POLYAMIDE (PA) 6 CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 74:
- VALUE SHARE OF POLYAMIDE (PA) 6 CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 75:
- VOLUME OF POLYAMIDE (PA) 66 CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 76:
- VALUE OF POLYAMIDE (PA) 66 CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 77:
- VALUE SHARE OF POLYAMIDE (PA) 66 CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 78:
- VOLUME OF POLYPHTHALAMIDE CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 79:
- VALUE OF POLYPHTHALAMIDE CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 80:
- VALUE SHARE OF POLYPHTHALAMIDE CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 81:
- VOLUME OF POLYBUTYLENE TEREPHTHALATE (PBT) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 82:
- VALUE OF POLYBUTYLENE TEREPHTHALATE (PBT) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 83:
- VALUE SHARE OF POLYBUTYLENE TEREPHTHALATE (PBT) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 84:
- VOLUME OF POLYCARBONATE (PC) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 85:
- VALUE OF POLYCARBONATE (PC) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 86:
- VALUE SHARE OF POLYCARBONATE (PC) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 87:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 88:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 89:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 90:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 91:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 92:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 93:
- VOLUME OF POLYIMIDE (PI) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 94:
- VALUE OF POLYIMIDE (PI) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 95:
- VALUE SHARE OF POLYIMIDE (PI) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 96:
- VOLUME OF POLYMETHYL METHACRYLATE (PMMA) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 97:
- VALUE OF POLYMETHYL METHACRYLATE (PMMA) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 98:
- VALUE SHARE OF POLYMETHYL METHACRYLATE (PMMA) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 99:
- VOLUME OF POLYOXYMETHYLENE (POM) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 100:
- VALUE OF POLYOXYMETHYLENE (POM) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 101:
- VALUE SHARE OF POLYOXYMETHYLENE (POM) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 102:
- VOLUME OF STYRENE COPOLYMERS (ABS AND SAN) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 103:
- VALUE OF STYRENE COPOLYMERS (ABS AND SAN) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 104:
- VALUE SHARE OF STYRENE COPOLYMERS (ABS AND SAN) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 105:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, SOUTH KOREA, 2019 - 2021
- Figure 106:
- MOST ADOPTED STRATEGIES, COUNT, SOUTH KOREA, 2019 - 2021
- Figure 107:
- PRODUCTION CAPACITY SHARE OF ENGINEERING PLASTICS BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
- Figure 108:
- PRODUCTION CAPACITY SHARE OF FLUOROPOLYMER BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
- Figure 109:
- PRODUCTION CAPACITY SHARE OF POLYAMIDE (PA) BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
- Figure 110:
- PRODUCTION CAPACITY SHARE OF POLYBUTYLENE TEREPHTHALATE (PBT) BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
- Figure 111:
- PRODUCTION CAPACITY SHARE OF POLYCARBONATE (PC) BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
- Figure 112:
- PRODUCTION CAPACITY SHARE OF POLYETHYLENE TEREPHTHALATE (PET) BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
- Figure 113:
- PRODUCTION CAPACITY SHARE OF POLYOXYMETHYLENE (POM) BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
- Figure 114:
- PRODUCTION CAPACITY SHARE OF STYRENE COPOLYMERS (ABS AND SAN) BY MAJOR PLAYERS, %, SOUTH KOREA, 2022
South Korea Engineering Plastics Industry Segmentation
Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Fluoropolymer, Liquid Crystal Polymer (LCP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonate (PC), Polyether Ether Ketone (PEEK), Polyethylene Terephthalate (PET), Polyimide (PI), Polymethyl Methacrylate (PMMA), Polyoxymethylene (POM), Styrene Copolymers (ABS and SAN) are covered as segments by Resin Type.
- South Korea’s engineering plastics market accounted for around 6.8%, by value, of the Asia-Pacific engineering plastics market in 2022. Engineering plastics are used in interior wall panels and doors in aerospace, packaging, and other applications due to their lightweight nature and high-quality strength, low fatigue, and low flammability. The increased use of resins in the electrical and electronics, automotive, and packaging industries is the primary market driver.
- The electrical and electronics industry is among the market's largest industries, accounting for 4.6% in 2022 compared to the previous year. The demand for consumer electronics is expected to rise in the future due to technological advancements, such as digitalization, robotics, IoT (Internet of Things), and 5G connectivity. The sales of consumer electronics in South Korea are projected to reach USD 17.55 billion in 2027 from USD 16.20 billion in 2023. Electrical and electronic production is projected to reach USD 598 billion in 2029 from USD 400 billion in 2023. Due to the increasing electrical and electronic production, the demand for engineering plastics in the country is projected to grow in the coming years.
- The electrical and electronics industry is the country's fastest-growing consumer of engineering plastics, with a projected CAGR of 8.58% in revenue during the forecast period. Due to the increasing demand for consumer electronics with the advent of IoT, electronics production is also increasing. Thus, the demand for engineering plastics in the country is projected to increase during the forecast period.
| End User Industry | Aerospace | ||
| Automotive | |||
| Building and Construction | |||
| Electrical and Electronics | |||
| Industrial and Machinery | |||
| Packaging | |||
| Other End-user Industries | |||
| Resin Type | Fluoropolymer | By Sub Resin Type | Ethylenetetrafluoroethylene (ETFE) |
| Fluorinated Ethylene-propylene (FEP) | |||
| Polytetrafluoroethylene (PTFE) | |||
| Polyvinylfluoride (PVF) | |||
| Polyvinylidene Fluoride (PVDF) | |||
| Other Sub Resin Types | |||
| Resin Type | Liquid Crystal Polymer (LCP) | ||
| Polyamide (PA) | By Sub Resin Type | 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) |
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Market Definition
- End-user Industry - Packaging, Electrical & Electronics, Automotive, Building & Construction, and Others are the end-user industries considered under the engineering plastics market.
- Resin - Under the scope of the study, consumption of virgin resins like Fluoropolymer, Polycarbonate, Polyethylene Terephthalate, Polybutylene Terephthalate, Polyoxymethylene, Polymethyl Methacrylate, Styrene Copolymers, Liquid Crystal Polymer, Polyether Ether Ketone, Polyimide, and Polyamide in the primary forms are considered. Recycling has been provided separately under its individual chapter.
| Keyword | Definition |
|---|---|
| Acetal | This is a rigid material that has a slippery surface. It can easily withstand wear and tear in abusive work environments. This polymer is used for building applications such as gears, bearings, valve components, etc. |
| Acrylic | This synthetic resin is a derivative of acrylic acid. It forms a smooth surface and is mainly used for various indoor applications. The material can also be used for outdoor applications with a special formulation. |
| Cast film | A cast film is made by depositing a layer of plastic onto a surface then solidifying and removing the film from that surface. The plastic layer can be in molten form, in a solution, or in dispersion. |
| Colorants & Pigments | Colorants & Pigments are additives used to change the color of the plastic. They can be a powder or a resin/color premix. |
| Composite material | A composite material is a material that is produced from two or more constituent materials. These constituent materials have dissimilar chemical or physical properties and are merged to create a material with properties unlike the individual elements. |
| Degree of Polymerization (DP) | The number of monomeric units in a macromolecule, polymer, or oligomer molecule is referred to as the degree of polymerization or DP. Plastics with useful physical properties often have DPs in the thousands. |
| Dispersion | To create a suspension or solution of material in another substance, fine, agglomerated solid particles of one substance are dispersed in a liquid or another substance to form a dispersion. |
| Fiberglass | Fiberglass-reinforced plastic is a material made up of glass fibers embedded in a resin matrix. These materials have high tensile and impact strength. Handrails and platforms are two examples of lightweight structural applications that use standard fiberglass. |
| Fiber-reinforced polymer (FRP) | Fiber-reinforced polymer is a composite material made of a polymer matrix reinforced with fibers. The fibers are usually glass, carbon, aramid, or basalt. |
| Flake | This is a dry, peeled-off piece, usually with an uneven surface, and is the base of cellulosic plastics. |
| Fluoropolymers | This is a fluorocarbon-based polymer with multiple carbon-fluorine bonds. It is characterized by high resistance to solvents, acids, and bases. These materials are tough yet easy to machine. Some of the popular fluoropolymers are PTFE, ETFE, PVDF, PVF, etc. |
| Kevlar | Kevlar is the commonly referred name for aramid fiber, which was initially a Dupont brand for aramid fiber. Any group of lightweight, heat-resistant, solid, synthetic, aromatic polyamide materials that are fashioned into fibers, filaments, or sheets is called aramid fiber. They are classified into Para-aramid and Meta-aramid. |
| Laminate | A structure or surface composed of sequential layers of material bonded under pressure and heat to build up to the desired shape and width. |
| Nylon | They are synthetic fiber-forming polyamides formed into yarns and monofilaments. These fibers possess excellent tensile strength, durability, and elasticity. They have high melting points and can resist chemicals and various liquids. |
| PET preform | A preform is an intermediate product that is subsequently blown into a polyethylene terephthalate (PET) bottle or a container. |
| Plastic compounding | Compounding consists of preparing plastic formulations by mixing and/or blending polymers and additives in a molten state to achieve the desired characteristics. These blends are automatically dosed with fixed setpoints usually through feeders/hoppers. |
| Plastic pellets | Plastic pellets, also known as pre-production pellets or nurdles, are the building blocks for nearly every product made of plastic. |
| Polymerization | It is a chemical reaction of several monomer molecules to form polymer chains that form stable covalent bonds. |
| Styrene Copolymers | A copolymer is a polymer derived from more than one species of monomer, and a styrene copolymer is a chain of polymers consisting of styrene and acrylate. |
| Thermoplastics | Thermoplastics are defined as polymers that become soft material when it is heated and becomes hard when it is cooled. Thermoplastics have wide-ranging properties and can be remolded and recycled without affecting their physical properties. |
| Virgin Plastic | It is a basic form of plastic that has never been used, processed, or developed. It may be considered more valuable than recycled or already used materials. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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