South Korea Co2-based Plastics Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Polycarbonates and Polyurethanes), By Application (Packaging, Automotive Components, Electronic Components, and Textile Processing), and South Korea Co2-based Plastics Market Insights, Industry Trend, Forecasts to 2035

  South Korea Co2-based Plastics Market Insights Forecasts to 2035

• The South Korea Co2-based Plastics Market Size Was Estimated at USD 35.3 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 10.88% from 2025 to 2035
• The South Korea Co2-based Plastics Market Size is Expected to Reach USD 109.98 Million by 2035

According to a research report published by Spherical Insights and Consulting, the South Korea Co2-based Plastics Market is anticipated to reach USD 109.98 Million by 2035, growing at a CAGR of 10.88% from 2025 to 2035. Growing expenditures in CCU technology are speeding up the creation of plastics based on CO2, increasing the commercial viability of carbon-derived polymers. Research is being funded by both public and private sector entities in an effort to increase productivity, lower expenses, and expand output.

Market Overview

CO2-based plastics use carbon dioxide (CO2) as a primary element in the production process. This creative method turns collected carbon emissions into useful polymers, providing a more environmentally friendly substitute for conventional plastics made from petroleum. By encouraging more sustainable practices and lowering greenhouse gas emissions, these plastics help to lessen the negative environmental effects of plastic manufacture. Moreover, the development and uptake of CO2-based polymers across a range of industries is being propelled by the increasing need for sustainable materials, opening up new market prospects. CO2-based plastic production is more competitive with conventional plastics, and research and development activities are concentrated on increasing its cost-effectiveness and scalability. Demand for CO2-based plastics may increase as such of certain governments' implementation of green procurement laws that mandate the use of sustainable materials in public projects. Using CO2-based plastics to lessen dependency on virgin materials is in line with government policies that emphasize the value of a circular economy, which minimizes waste and reuses resources.

Report Coverage

This research report categorizes the market for South Korea Co2-based plastics market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea Co2-based plastics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea Co2-based plastics market.

Driving Factors

Rising environmental concerns and the need to reduce greenhouse gas emissions. Grwoing demand for sustainable and biodegradable alternatives to conventional plastics is encouraging innovation in CO2 utilization technologies. Government regulations promoting carbon capture and sustainable materials further support market growth. Additionally, advancements in polymer science and rising investments in green technologies are enhancing the feasibility and scalability of CO2-based plastics. Consumer preference for eco-friendly products also significantly contributes to the market’s upward trajectory.

Restraining Factors

High production costs remain a primary barrier, converting CO2 into polymers requires energy-intensive processes, specialized catalysts, and high-pressure reactors, making it more expensive than traditional plastics. Additionally, the infrastructure for capturing and purifying CO2 is still developing, leading to inconsistent feedstock availability.

Market Segmentation

The South Korea Co2-based plastics market share is classified into product type and application.

• The polycarbonates segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea Co2-based plastics market is segmented by product type into polycarbonates and polyurethanes. Among these, the polycarbonates segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. The market for CO2-based polycarbonates is expanding as improvements in polymerization and catalytic processes improve the material's performance and make it a competitive substitute for conventional polycarbonates derived from fossil fuels. Scientists are creating extremely effective catalysts based on zinc and cobalt that allow CO2 to be directly incorporated into polycarbonate chains, minimizing reliance on bisphenol A (BPA) generated from petroleum.

• The packaging segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea Co2-based plastics market is segmented by application into packaging, automotive components, electronic components, and textile processing. Among these, the packaging segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The need for CO2-based plastics in packaging applications is being driven by the increased focus on corporate sustainability commitments, as big international brands look for carbon-neutral substitutes for conventional materials generated from fossil fuels. Prominent consumer goods firms are increasingly collaborating with material developers to include CO2-derived polymers in their packaging portfolios, especially in the food and beverage and personal care sectors.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea Co2-based plastics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• LG Chem Ltd.
• SK Chemicals Co., Ltd.
• Hanwha Solutions Chemical Division
• Kolon Industries, Inc.
• Kumho Petrochemical Co., Ltd.
• CARBONCO
• SK Innovation Co., Ltd.
• POSCO
• Panasia Co., Ltd.
• HMM Co., Ltd.
• SK Geo Centric Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Co2-based plastics market based on the below-mentioned segments:

 South Korea Co2-based Plastics Market, By Product Type

• Polycarbonates
• Polyurethanes

South Korea Co2-based Plastics Market, By Application

• Packaging
• Automotive Components
• Electronic Components
• Textile Processing