South Korea Pulp and Paper Market to Grow at a CAGR of 5.20% During 2024-2032, Aided by the Growing Consumer Awareness Regarding Eco-Friendly Products and Packaging

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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Market Breakup by Pulp Source and Application:

• The market is segmented based on pulp source into wood pulp, non-wood pulp, and recycled pulp. 

• Based on application, the market can be divided into wrapping and packaging, printing and writing, news print, and sanitary papers, among others.

Key Findings of the Report:

• Despite limited forest resources, South Korea stands out as the world's fifth-largest paper-making country, producing 8.2 MMT of paper in 2019 while consuming over 9.2 MMT in the same year.

• Increasing consumer awareness about environmental sustainability is driving a shift towards eco-friendly packaging in South Korea.

• The South Korean government is actively taking steps to reduce greenhouse gas emissions, including banning single-use plastics.

• Growing consumer demand for premium white paper, particularly among corporate and educational end-users, is driving expansion in the chemical pulping market.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea pulp and paper market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the source and application of pulp and paper.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

Key Highlights of the Report

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