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South Korea Adhesives Market Size

The South Korea adhesives market is projected to experience growth, driven by its significant application in the packaging and automotive sectors, which together represent a substantial portion of the market's consumer base. The country's robust policy framework supports the packaging industry and promotes sustainable practices, aiming for a circular economy. Despite challenges related to plastic waste, South Korea's commitment to reducing plastic use and enhancing recycling efforts underscores the market's potential. Additionally, the automotive industry's expansion, particularly in eco-friendly vehicles, further fuels the demand for adhesives, contributing to the market's overall growth trajectory.

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Market Size of south korea adhesives Industry

South Korea Adhesives Market Summary
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svg icon Study Period 2017 - 2028
svg icon Market Size (2024) USD 1.34 Billion
svg icon Market Size (2028) USD 1.66 Billion
svg icon Largest Share by End User Industry Packaging
svg icon CAGR (2024 - 2028) 5.62 %
svg icon Fastest Growing by End User Industry Footwear and Leather
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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

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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

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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

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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.
South Korea Adhesives Market

South Korea Adhesives Industry Segmentation South Korea Adhesives Industry Segmentation

Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA are covered as segments by Resin.

  • 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.
End User Industry
Aerospace
Automotive
Building and Construction
Footwear and Leather
Healthcare
Packaging
Woodworking and Joinery
Other End-user Industries
Technology
Hot Melt
Reactive
Solvent-borne
UV Cured Adhesives
Water-borne
Resin
Acrylic
Cyanoacrylate
Epoxy
Polyurethane
Silicone
VAE/EVA
Other Resins
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South Korea Adhesives Market Size Summary

The South Korea adhesives market is poised for significant growth, driven by the expanding packaging and automotive sectors, which together account for a substantial portion of adhesive consumption in the country. The government's initiatives to promote a circular economy and reduce plastic waste are influencing the packaging industry, which is a major consumer of adhesives. South Korea's automotive industry, being one of the largest globally, is also a key driver, with a focus on eco-friendly vehicles boosting the demand for adhesives. The market is characterized by a fragmented landscape with major players like 3M, Henkel, and others leading the charge in innovation and sustainability.

Despite challenges such as the economic slowdown due to the COVID-19 pandemic, the South Korean adhesives market is recovering, supported by the resurgence of the packaging and automotive industries. The packaging sector, with its reliance on paper and corrugated box packaging, has seen increased production due to the rise in e-commerce. Meanwhile, the automotive sector is adapting to the growing trend of electrification, with significant investments in electric vehicle production. These developments, coupled with strategic agreements and product innovations by key market players, are expected to sustain the growth trajectory of the adhesives market in South Korea over the forecast period.

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South Korea Adhesives Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Footwear and Leather

      5. 1.1.5 Healthcare

      6. 1.1.6 Packaging

      7. 1.1.7 Woodworking and Joinery

      8. 1.1.8 Other End-user Industries

    2. 1.2 Technology

      1. 1.2.1 Hot Melt

      2. 1.2.2 Reactive

      3. 1.2.3 Solvent-borne

      4. 1.2.4 UV Cured Adhesives

      5. 1.2.5 Water-borne

    3. 1.3 Resin

      1. 1.3.1 Acrylic

      2. 1.3.2 Cyanoacrylate

      3. 1.3.3 Epoxy

      4. 1.3.4 Polyurethane

      5. 1.3.5 Silicone

      6. 1.3.6 VAE/EVA

      7. 1.3.7 Other Resins

South Korea Adhesives Market Size FAQs

The South Korea Adhesives Market size is expected to reach USD 1.34 billion in 2024 and grow at a CAGR of 5.62% to reach USD 1.66 billion by 2028.

In 2024, the South Korea Adhesives Market size is expected to reach USD 1.34 billion.

South Korea Adhesives Market Report Snapshots

South Korea Adhesives Market Size & Share Analysis - Growth Trends & Forecasts UP TO 2028