Engineering Plastics Market- South Korea

Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 7.70% (2024-2032)

The increasing demand from end-use industries, such as automotive, transportation, and electrical, and electronics, is propelling the growth of the market in South Korea. According to the latest report by IMARC Group, The South Korea engineering plastics market size is projected to exhibit a growth rate (CAGR) of 7.70% during 2024-2032.

South Korea Engineering Plastics Industry Trends and Drivers:

Growth of Engineering Plastics Market in South Korea

• Demand from End-Use Industries: The market for engineering plastics in South Korea is being propelled by increasing demand from key end-use industries, including automotive, transportation, and electrical and electronics sectors.
• Automotive and Transportation Sector:
• Engineering plastics are valued for their strength-to-weight ratio, durability, and resistance to chemicals and heat.
• South Korea's advancements in automotive manufacturing, particularly in electric vehicles (EVs) and lightweight vehicles, are driving demand.
• These materials play a crucial role in reducing vehicle weight, enhancing fuel efficiency, and improving overall vehicle performance.
• Meeting stringent environmental regulations and consumer expectations further strengthens market growth.
• South Korea's governing agencies are promoting green technologies, encouraging automotive manufacturers to adopt eco-friendly materials like engineering plastics.
• Electrical and Electronics Sector:
• The rising sales of consumer appliances (e.g., televisions, refrigerators) are increasing the need for high-performance plastics with superior electrical insulation, thermal stability, and flame resistance.
• Engineering plastics are integral to the production of appliances, ensuring safety and longevity in harsh operating conditions.
• The expanding semiconductor and display manufacturing sectors are driving the use of engineering plastics in various components, such as connectors, housings, circuit boards, and displays.
• Ongoing research and development (R&D) in South Korea is leading to innovative engineering plastic grades tailored to the needs of these industries.
• Sustainability and Eco-Friendly Practices:
• There is a growing emphasis on sustainability, pushing companies and manufacturers to invest in recyclable and environmentally conscious engineering plastics.
• The trend towards miniaturization and the demand for more compact and efficient electronic devices are further influencing the use of engineering plastics in South Korea.

Download sample copy of the Report: https://www.imarcgroup.com/south-korea-engineering-plastics-market/requestsample

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

Request for customization: https://www.imarcgroup.com/request?type=report&id=20275&flag=E

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• 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.

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