Market Size of south korea adhesives Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 1.34 Billion |
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Market Size (2028) | USD 1.66 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 5.62 % |
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Fastest Growing by End User Industry | Footwear and Leather |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South Korea Adhesives Market Analysis
The South Korea Adhesives Market size is estimated at 1.34 billion USD in 2024, and is expected to reach 1.66 billion USD by 2028, growing at a CAGR of 5.62% during the forecast period (2024-2028).
1.34 Billion
Market Size in 2024 (USD)
1.66 Billion
Market Size in 2028 (USD)
4.39 %
CAGR (2017-2023)
5.62 %
CAGR (2024-2028)
Largest Market by End-user Industry
27.17 %
value share, Packaging, 2023
The packaging industry holds the largest market share owing to its widespread applications, including labels, tapes, carton sealing, joining, and labeling.
Fastest Growing Market by End-user Industry
8.65 %
Projected CAGR, Footwear and Leather, 2024-2028
Due to the increasing healthcare expenditure and rising investment in tissue engineering and medical device production, the healthcare industry is projected to be the fastest-growing end-user industry in the country.
Largest Market by Technology
28.48 %
value share, Hot Melt, 2023
In South Korea, hot-melt adhesives gain the major market share owing to their easy applicability, non-toxic, and fast curing process across industries.
Largest Market by Resin
24.65 %
value share, Polyurethane, 2023
Polyurethane adhesives hold the largest share owing to their wide applications in building construction, woodworking, and automotive industries, specifically for exterior applications.
Leading Market Player
7.66 %
market share, Henkel AG & Co. KGaA, 2021
Henkel is the leading adhesives manufacturer in South Korea, which can be attributed to the popularity of its products in widespread industries, including building and construction, automotive, aerospace, and woodworking.
The fast-paced growth in the production of eco-friendly cars in South Korea to lead the market's growth
- Adhesives are classified in South Korea according to their application. Since packaging and automotive are the fastest expanding industries in South Korea, they serve the most customers in the nation, accounting for approximately 42% of total adhesive consumers.
- The nation has created several initiatives to encourage the packaging sector. South Korea has a well-developed policy framework that promotes an integrated approach to waste and material management, based on the pay-as-you-throw, 3Rs, and EPR principles, with the goal of advancing toward resource circulation and a circular economy. However, the government must speed up its efforts to keep up with the country's continuously expanding municipal and marine plastic garbage. South Korea is one of the world's largest manufacturers and users of single-use plastic packaging. The government has also pledged to cut plastic waste by 30% in 2022 and 50% by 2030, as well as to achieve a recycling rate of 70% by 2030, up from 34% presently.
- South Korea's automobile industry is presently the world's fifth-largest producer of passenger automobiles. The car industry accounts for 13% of manufacturing production, creates 12% of value added, and is a vital industrial sector that employs around 12% of South Koreans. The sales of eco-friendly cars such as electric vehicles (EVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell electric vehicles (FCEVs) may increase the fastest in South Korean markets in the near future. The government's decision to spend USD 125.9 million on R&D has increased the confidence of South Korean manufacturers and purchasers in alternative powertrains. All such factors lead to the demand for adhesives.
Understand The Key Trends Shaping This Market
