Self-extinguishing Plastics Market size was valued at USD 1.5 Billion in 2024 and is forecasted to grow at a CAGR of 8.5% from 2026 to 2033, reaching USD 3.1 Billion by 2033.
The Self-extinguishing Plastics Market in South Korea is experiencing significant growth, driven by stringent fire safety regulations and increasing demand across various industries. In 2024, the market was valued at approximately USD 567 million and is projected to reach USD 789 million by 2030, growing at a CAGR of 5.6%.
Key types of self-extinguishing plastics include:
Fluoropolymers: Dominating the market with a 51.17% revenue share in 2024, these are extensively used in electrical and electronics applications due to their excellent flame resistance and stability.
Liquid Crystal Polymers (LCP): Noted for their high growth rate, LCPs are increasingly utilized in the electronics sector for components requiring high thermal stability.
Polyamides and Polyphenylene Sulfide (PPS): These materials are favored in automotive and industrial applications for their mechanical strength and flame retardant properties.
Industries driving the demand for self-extinguishing plastics include:
Electrical & Electronics: With the proliferation of electronic devices, there's a heightened need for materials that can prevent fire hazards.
Automotive: The shift towards electric vehicles necessitates components that can withstand high temperatures and prevent fire risks.
Construction: Building materials incorporating flame retardant plastics are essential for enhancing fire safety in structures.
South Korea's commitment to environmental sustainability is also influencing the market. The government has implemented regulations promoting the use of eco-friendly materials and recycling practices. Companies like LG Chem and SK Chemicals are investing in research and development to produce halogen-free flame retardant formulations, aligning with global environmental standards.
Moreover, the integration of self-extinguishing plastics in wire and cable insulation is gaining traction, driven by the need for safer infrastructure in both residential and commercial buildings.
As industries continue to prioritize safety and sustainability, the demand for self-extinguishing plastics in South Korea is expected to rise, fostering innovation and growth in the market.
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BASF
Solvay
Mitsubishi Chemical Group
DIC Corporation
RadiciGroup
Ensinger Group
LATI
Polymer Compounders Limited
BKB Precision
LABARA Company
LEP Engineering Plastics
EMS-GRIVORY
SIPLA Stampaggio
NFD
Taiwan Chemicals & Fiber Corporation
ENSINGER ENGINEERING PLASTICS
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Self-extinguishing Plastics Market
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polystyrene (PS)
Polycarbonate (PC)
Acrylic (PMMA)
Thermoplastic Polyurethane (TPU)
Automotive
Electronics & Electrical
Construction & Building
Packaging
Consumer Goods
Aerospace
Medical Devices
Transportation
Healthcare
Industrial Manufacturing
Retail
Telecommunications
Defense
Chlorinated Flame Retardants
Brominated Flame Retardants
Phosphorus-based Flame Retardants
Inorganic Flame Retardants
Intumescent Flame Retardants
Non-toxic Flame Retardants
Composites
Films
Sheets
Fibers
Blends
Foams
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Self-extinguishing Plastics Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Self-extinguishing Plastics Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Self-extinguishing Plastics Market, By Type
6. South Korea Self-extinguishing Plastics Market, By Application
7. South Korea Self-extinguishing Plastics Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Self-extinguishing Plastics Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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