South Korea Expanded Polypropylene Market Research Report: By Application (Automobile, Packaging, Consumer Goods, Others)- Forecast to 2035

South Korea Expanded Polypropylene Market Overview:

The South Korea Expanded Polypropylene Market Size was estimated at 44 (USD Million) in 2023. The South Korea Expanded Polypropylene Market is expected to grow from 48.4(USD Million) in 2024 to 200 (USD Million) by 2035. The South Korea Expanded Polypropylene Market CAGR (growth rate) is expected to be around 13.767% during the forecast period (2025 - 2035).

Key South Korea Expanded Polypropylene Market Trends Highlighted

The market for expanded polypropylene in South Korea is expanding significantly due to several important factors. The growing need for strong, lightweight materials in the packaging and automotive industries is one of the main factors propelling the market.

Because extended polypropylene is recyclable and has a lower environmental effect than conventional materials, many businesses are turning to it as South Korea places a strong emphasis on sustainability and eco-friendly practices.

Furthermore, the nation's emphasis on developing technology and materials science is improving expanded polypropylene's performance qualities, making it a desirable choice for a range of applications. As businesses investigate the possibilities of expanded polypropylene in novel sectors, including consumer goods and construction, opportunities in the South Korean market are growing.

South Korea's fast urbanization necessitates the use of cutting-edge building materials that may enhance insulation and energy efficiency, and expanded polypropylene can provide a number of advantages. The adaptability of expanded polypropylene places it well for a range of applications, offering significant growth potential as companies look to differentiate their goods.

South Korea's recent manufacturing trends indicate a move toward automation and digitization, which could improve expanded polypropylene production efficiency. This market has grown as a result of the South Korean government's efforts to encourage innovation and provide funding for materials research and development.

Additionally, producers who concentrate on creating biodegradable or bio-based versions of expanded polypropylene may find a market among people who care about the environment as societal values shift toward sustainable practices. In addition to meeting shifting consumer tastes, this connection with sustainability trends aids in addressing regulatory challenges.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

South Korea Expanded Polypropylene Market Drivers

Growing Demand for Lightweight and Energy-Efficient Materials

In the South Korea Expanded Polypropylene Market, there is a notable shift towards lightweight and energy-efficient materials across various sectors. This demand is primarily driven by the automotive and packaging industries, where Expanded Polypropylene is increasingly being utilized due to its low weight and excellent thermal insulation properties.

According to the South Korean Ministry of Trade, Industry and Energy, the automotive sector is projected to grow significantly, with expectations for vehicle production to reach over 4 million units by 2025. This surge in production is anticipated to boost the usage of Expanded Polypropylene in automotive components, enhancing overall fuel efficiency and reducing emissions.

Moreover, industries are increasingly adopting sustainable practices, leading to a rise in demand for eco-friendly materials.

The integration of energy-efficient solutions aligns with South Korea's commitment to reducing greenhouse gas emissions by 24.4% by 2030, according to the country's Climate Change Response Plan, further reinforcing the growth prospects in the South Korea Expanded Polypropylene Market.

Technological Advancements in Manufacturing Processes

Technological advancements are significantly impacting the South Korea Expanded Polypropylene Market by enhancing manufacturing efficiency and reducing production costs. Innovations in processing technologies, such as advanced extrusion techniques and in-line recycling processes, are enabling manufacturers to produce high-quality Expanded Polypropylene with improved properties.

The Korea Institute of Industrial Technology has reported that the implementation of Industry 4.0 technologies is accelerating the automation of production facilities. This shift aims to increase production efficiency by 15% by 2025, allowing companies to meet rising demand while maintaining competitive pricing.

These advancements also facilitate the use of recycled materials in production, aligning with South Korea's Green New Deal initiative, which emphasizes sustainability and resource recycling, further driving market growth.

Increased Application in Consumer Goods and Packaging

The South Korea Expanded Polypropylene Market is witnessing a significant rise in the application of Expanded Polypropylene in consumer goods and packaging. The emergence of e-commerce and online retail has heightened the demand for efficient and protective packaging solutions.

According to the Korea E-Commerce Association, online retail sales spiked by approximately 21% year-over-year in 2022, underscoring the need for durable and lightweight packaging materials. Expanded Polypropylene is favored for its impact resistance, moisture barrier properties, and recyclability.

Furthermore, as consumer preferences shift towards sustainable and environmentally friendly packaging, Expanded Polypropylene aligns with these demands, providing an opportunity for manufacturers to capture a considerable market share in the packaging industry.

Government Initiatives Promoting Recycling and Sustainability

The South Korean government is actively promoting initiatives focused on recycling and sustainability, which directly influence the South Korea Expanded Polypropylene Market. The Circular Economy Promotion Act, implemented in 2021, aims to reduce plastic waste and increase recycling rates across all sectors.

The government is targeting a recycling rate of 70% for packaging materials by 2030. This regulatory framework encourages manufacturers to explore and invest in recycled Expanded Polypropylene solutions, thereby driving market growth.

Additionally, partnerships between governmental agencies and industry leaders are facilitating Research and Development in sustainable material technologies. By focusing on regulatory incentives and sustainability goals, the South Korean government plays a vital role in shaping the future of the Expanded Polypropylene market.

South Korea Expanded Polypropylene Market Segment Insights:

Expanded Polypropylene Market Application Insights

The South Korea Expanded Polypropylene Market is experiencing significant growth, especially within the Application segment, which encompasses various industries, including Automobile, Packaging, Consumer Goods, and Others.

The rising demand for lightweight and durable materials in the automotive sector underscores the importance of expanded polypropylene, as it enhances fuel efficiency and reduces emissions. This material is extensively utilized in automotive interiors, providing comfort and safety features while aligning with stringent environmental regulations.

The Packaging sector also reflects a robust inclination towards expanded polypropylene, driven by its excellent cushioning properties and recyclability, which are increasingly vital as sustainability becomes a focal point for consumers and regulators alike.

In the Consumer Goods arena, the versatility and adaptability of expanded polypropylene allow manufacturers to create innovative packaging and product designs, catering to evolving consumer preferences for convenience and functionality. Additionally, the 'Others' category, which may include applications in protective barriers, sports equipment, and healthcare, showcases the material's diverse capabilities.

The emphasis on innovation across these applications has led to heightened competition among manufacturers in South Korea, with ongoing investments in Research and Development to enhance product performance and expand usage possibilities.

As consumers increasingly demand eco-friendly products, the South Korea Expanded Polypropylene Market segmentation is poised to capitalize on emerging opportunities, with a heightened focus on sustainability across all applications.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

South Korea Expanded Polypropylene Market Key Players and Competitive Insights:

The South Korea Expanded Polypropylene Market showcases a competitive landscape characterized by innovation, efficiency, and strategic partnerships among key players. The market has experienced substantial growth driven by the increasing demand for lightweight and versatile materials across various sectors, including automotive, packaging, and consumer goods.

Various companies are striving to enhance their production capabilities and product offerings to cater to the evolving needs of end-users, thereby intensifying the competition. Sustainability has also become a focal point, with firms exploring eco-friendly alternatives and recycling initiatives to align with global trends and consumer preferences.

In the realm of South Korea's Expanded Polypropylene Market, Daelim Chemical stands out due to its robust manufacturing capacity and technological expertise. The company has made significant strides in the production of high-quality expanded polypropylene, positioning itself as a reliable supplier across industries.

Daelim Chemical's strengths lie in its advanced R&D facilities that foster innovation, allowing the company to introduce new formulations and applications of expanded polypropylene. Furthermore, its strong market presence is bolstered by a focus on customer-centric solutions, ensuring that it meets specific requirements for performance and sustainability.

Daelim Chemical has effectively streamlined its supply chain, ensuring timely delivery and consistency in quality, which enhances its competitive edge within the South Korean market.

Hanwha Solutions holds a notable position in the South Korean Expanded Polypropylene Market by offering a diverse range of products that cater to various applications, including automotive components, packaging materials, and insulation products.

The company's strong focus on innovation and sustainability has enabled it to develop advanced polypropylene technologies that not only enhance product performance but also reduce environmental impact.

Hanwha Solutions has solidified its market presence through strategic mergers and acquisitions, expanding its operational capabilities and market reach. Its robust distribution network and collaboration with local and international partners further strengthen its footprint in the market.

The company also emphasizes advanced manufacturing techniques, which provide it with a significant advantage in maintaining product quality and operational efficiency, thereby positioning itself as a leader in the South Korean Expanded Polypropylene sector.

Key Companies in the South Korea Expanded Polypropylene Market Include:

• Daelim Chemical


• Hanwha Solutions


• Toray Industries


• LG Chem


• Dow Chemical


• Hyosung


• SABIC


• Ineos


• GS Caltex


• Korea Petrochemical Ind.


• BASF


• Lotte Chemical


• Mitsui Chemicals


• ExxonMobil


• SK Innovation

South Korea Expanded Polypropylene Market Developments

In recent months, the South Korea Expanded Polypropylene Market has seen several significant developments. Major companies like Daelim Chemical and LG Chem have continued to innovate, focusing on sustainable production methods to minimize environmental impact.

The market is also witnessing advancements in processing technologies which are making Expanded Polypropylene products lighter and more durable, enhancing their applications in automotive and packaging industries. In terms of mergers and acquisitions, no recent notable deals have been reported involving key players such as Hanwha Solutions, Toray Industries, and Dow Chemical.

However, LG Chem announced its plans to increase production capacity in August 2023 to cater to the increasing demand for lightweight automotive materials, a move expected to bolster its market position. The South Korean government is actively supporting the petrochemical industry through various initiatives, aiming to promote research and development and enhance global competitiveness.

Over the last two years, the market has experienced consistent growth, attributed to rising demand for lightweight and recyclable materials in the automotive and packaging sectors. This trend is predicted to continue as companies focus on sustainable practices and further align with regulatory frameworks aimed at reducing carbon footprints.

South Korea Expanded Polypropylene Market Segmentation Insights

Expanded Polypropylene Market Application Outlook

• Automobile


• Packaging


• Consumer Goods


• Others

Report Attribute/Metric Source:	Details
MARKET SIZE 2018	44.0(USD Million)
MARKET SIZE 2024	48.4(USD Million)
MARKET SIZE 2035	200.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	13.767% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Daelim Chemical, Hanwha Solutions, Toray Industries, LG Chem, Dow Chemical, Hyosung, SABIC, Ineos, GS Caltex, Korea Petrochemical Ind., BASF, Lotte Chemical, Mitsui Chemicals, ExxonMobil, SK Innovation
SEGMENTS COVERED	Application
KEY MARKET OPPORTUNITIES	Growing automotive sector demand, Increasing packaging applications, Rising consumer goods production, Advancements in construction materials, Expanding electronics industry usage
KEY MARKET DYNAMICS	growing automotive applications, increasing packaging demand, lightweight materials trend, rising consumer electronics use, environmental sustainability focus
COUNTRIES COVERED	South Korea