IMARC Group has recently released a new research study titled “South Korea Engineering Plastics Market Report by Resin Type (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), End Use Industry (Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging, and Others), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Engineering Plastics Market Overview
The South Korea engineering plastics market growth reached a size of USD 2.5 billion in 2024 and is projected to grow to USD 4.2 billion by 2033. The market is expected to expand at a CAGR of 5.5% during the forecast period from 2025 to 2033. Growth is driven by rising demand for lightweight automobiles and continual product innovation. Engineering plastics are favored for their light weight, mechanical strength, thermal stability, and design flexibility, replacing metals and ceramics in various industrial applications.
Study Assumption Years
- Base Year: 2024
- Historical Year: 2019-2024
- Forecast Year: 2025-2033
South Korea Engineering Plastics Market Key Takeaways
- Current Market Size (2024): USD 2.5 billion
- CAGR (2025-2033): 5.5%
- Forecast Period: 2025-2033
- Engineering plastics are widely used in manufacturing mechanical parts, containers, and packaging materials due to their superior lightweight and durability compared to metals and ceramics.
- The automotive industry in South Korea fuels demand for engineering plastics used in components like bumpers and dashboard trims.
- Consumer electronics drive innovation in products such as ski boots, helmets, and optical discs, positively impacting the Asian market.
- Continuous R&D investment focuses on enhancing mechanical strength, thermal stability, and design flexibility of engineering plastics.
- Increasing emphasis on sustainability leads to development of recyclable and environmentally friendly engineering plastics.
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Market Growth Factors
The South Korea engineering plastics market's growth is primarily propelled by the automotive industry's increasing demand for lightweight materials. As of 2024, the market size was valued at USD 2.5 billion, with an anticipated CAGR of 5.5% through 2033, reaching USD 4.2 billion. Lightweight plastics are preferred over metals and ceramics due to their superior load capacity, mechanical strength, thermal stability, and durability, which makes them ideal for automotive components like bumpers and dashboard trims.
Consumer electronics also play a critical role; engineering plastics are extensively used in manufacturing durable products such as ski boots, helmets, and optical discs. These segments benefit from ongoing product innovations, positively influencing market expansion across South Korea and the broader Asian region.
Moreover, the market benefits from robust research and development activities. South Korean companies invest significantly to improve materials’ mechanical strength, thermal stability, and design flexibility. Additionally, global trends toward sustainability drive the development of recyclable and eco-friendly engineering plastics, further augmenting market growth during the forecast period.
Market Segmentation
Resin Type Insights:
- Fluoropolymers: Ethylene tetrafluoroethylene (ETFE), Fluorinated ethylene-propylene (FEP), Polytetrafluoroethylene (PTFE), Polyvinyl fluoride (PVF), Polyvinylidene fluoride (PVDF), Other Liquid Crystal Polymers (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)
These resin types are used based on their unique properties like mechanical strength, thermal resistance, and chemical stability, supporting diverse industrial applications.
End-Use Industry Insights:
- Aerospace
- Automotive
- Building and Construction
- Electrical and Electronics
- Industrial Machinery
- Packaging
- Others
These industries deploy engineering plastics for various components due to the balance of strength, durability, and design flexibility offered by these materials.
Regional Insights
The South Korea engineering plastics market is analyzed by major regions including Seoul metropolitan area, Yeongnam (southeast), Honam (southwest), Hoseo (central), and others. South Korea’s advanced manufacturing and automotive hubs in these regions support substantial engineering plastic consumption. The detailed regional market share and CAGR figures are not provided in the source. Overall, the Seoul metropolitan region and industrial zones like Yeongnam drive the market due to strong manufacturing and technological advancements.
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
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