South Korea Elastomer Market Size, Share, and COVID-19 Impact Analysis, By Type (Thermoplastics, Thermosets), By End Use (Automotive, Medical, Consumer Goods, Industrial), and South Korea Ultrasound Devices Market Insights, Industry Trend, Forecasts to 2035.

South Korea Ultrasound Devices Market Insights Forecasts to 2035

• The South Korea Elastomer Market Size Is Expected to Grow at a CAGR Of Around 6.1% From 2025 to 2035  

• The South Korea Elastomer Market Size Is Expected to Reach a Significant Share By 2035.     

According to a research report published by Spherical Insights & Consulting, The South Korea Elastomer Market Size is expected to grow 6.19% CAGR from 2025 to 2035 is expected to reach a significant share by 2035.  The South Korea elastomer market is growing steadily due to rising demand in automotive, electronics, and medical sectors, supported by technological advancements, industrial innovation, and increasing focus on sustainable, high-performance materials.

Market Overview

The market for elastomers in South Korea includes a wide variety of elastic polymers, such as high-temperature elastomers, thermoset elastomers, and thermoplastic elastomers (TPEs).  These materials are essential to many different industries, including electronics, healthcare, construction, and the automobile sector. Moreover, the growing need for flexible, lightweight materials in smart electronics, medical devices, and EV manufacturing is driving the South Korean elastomer market's strong expansion.  Local R&D expenditures combined with environmentally friendly industrial improvements are making it possible for domestic businesses to compete on a global scale, opening up new markets and uses outside of traditional industries. Furthermore, the elastomer market in South Korea is boosted by innovations such as bio-based elastomers, high-performance materials, and advanced production.  Leading companies like Samsung SDI, Kumho Petrochemical, and LG Chem propel growth via R&D, sustainability programs, and forays into in-demand industrial applications.

Report Coverage

This research report categorizes the market for South Korea elastomers 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 elastomers 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 South Korea elastomers market sub-segment.

Driving Factors

The South Korean elastomer market is being pushed by rising demand for automobile lightweighting, expanded medical device manufacturing, and development in consumer electronics, all of which require flexible, durable materials.  The government's support for industrial innovation and smart factory adoption boosts production capacity.  Furthermore, increased exports and the incorporation of elastomers into renewable energy systems, such as solar panel components and EV battery seals, are boosting market momentum both domestically and internationally.  

Restraining Factors

The South Korea elastomer market is restrained by volatile raw material prices, stringent environmental regulations, supply chain disruptions, and challenges in recycling, which increase production costs and hinder sustainable large-scale adoption.

Market Segmentation

The South Korea elastomers market share is classified into type and end use.

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

The South Korea elastomers market is segmented by type into thermoplastics, thermosets. Among these, the thermoset segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The production of tires, exterior components, and a few under-the-hood uses in the automotive sector. Because of its superior strength and abrasion resistance over natural alternatives, synthetic rubber is primarily utilized in thermoset elastomers for a variety of applications.

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

The South Korea elastomers market is segmented by end use into automotive, medical, consumer goods, and industrial. Among these, the automotive segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The expanded use of the product in a variety of settings, including dashboards, door panels, tires, and seats.

 Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea elastomers 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 current news and developments of the companies, which includes 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

• Kumho Petrochemical Co., Ltd.
• Hyosung Chemical Corporation
• LG Chem Ltd.
• Songwon Chemical Co., Ltd.
• KCC Corporation
• HDC Hyundai EP
• Korea Engineering Plastics (KEP)
• Kumho Polychem Ltd.
• Hankook Tire Co., Ltd.
• Nexen Tire Corp.
• Seoul Polymer Co., Ltd.
• Sunkyung Chemical 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 elastomers market based on the below-mentioned segments:

South Korea Elastomer Market, By Type

• Thermoplastics
• Thermosets

South Korea Elastomer Market, By End Use

• Automotive
• Medical
• Consumer Goods
• Industrial