Press Release
Press Release
According to a new report by EMR titled, ‘The South Korea Pulp and Paper Market Report and Forecast 2024-2032’, the market attained a value of more than USD 13.92 billion in 2032. The market is expected to grow at a CAGR of 5.20% between 2024 and 2032.
South Korea, despite limited forest resources, ranks as the world's fifth-largest paper-making country. In 2019, the country produced 8.2 MMT of paper and consumed over 9.2 MMT. The South Korea pulp and paper market is expanding due to rising consumer demand for eco-friendly products and packaging. This trend prompts FMCG companies to transition towards sustainable packaging, driving the market demand and spurring research and development efforts. Increased consumer awareness regarding recycling and waste management also contributes to the market growth.
Moreover, the South Korean government is actively reducing greenhouse gas emissions, supported by banning single-use plastics. The government aims at a 20% reduction in plastic waste and achieving a 70% recycling rate by 2025, alongside a 30% decrease in greenhouse gas emissions by 2030. Efforts to transition to renewable energy sources are underway, aligning with broader environmental initiatives. These governmental actions and the country’s environmental policies are expected to further boost the paper and pulp market, reflecting a collective commitment to sustainability.
Additionally, there is a notable shift towards biodegradable paper and paperboard packaging by different end-use industries as well as premium brands aiming to attract environmentally conscious consumers.
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The major players in the South Korea pulp and paper market are Moorim Paper Co., Ltd, Hankuk Paper Mfg.Co.Ltd, Hansol Paper., Ltd, Jinju Paper Mfg.Co.Ltd, and Asia Pulp & Paper (APP) Sinar Mas., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Pulp Source |
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Breakup by Application |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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