South Korea Marine Coatings Market Market’s Evolution: Key Growth Drivers 2025-2033

South Korea Marine Coatings Market by Resin Type (Epoxy, Acrylic, Alkyd, Polyurethane, Other Resin Type), by Technology (Water Borne Coatings, Solvent Borne Coatings, Other Coatings), by Function (Anti-Corrosion, Anti-fouling, Others), by Application (Marine OEM, Marine Aftermarket), by South Korea Forecast 2025-2033

Jun 28 2025
Base Year: 2024
120 Pages
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South Korea Marine Coatings Market Market’s Evolution: Key Growth Drivers 2025-2033

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Key Insights

The South Korea marine coatings market, valued at approximately $150 million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) exceeding 3% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, the South Korean shipbuilding industry, a global leader, necessitates substantial quantities of marine coatings for new vessel construction and maintenance. Growing demand for specialized coatings, such as anti-fouling and anti-corrosion solutions, further bolsters market growth. The increasing focus on environmental regulations promoting sustainable and eco-friendly coatings, like waterborne options, presents significant opportunities for manufacturers. Furthermore, the expansion of the South Korean maritime sector, including its growing merchant fleet and offshore energy activities, contributes to the market's upward trajectory. Competitive pressures from established international players and domestic companies alike are shaping the market landscape.

However, certain challenges temper this growth. Fluctuations in raw material prices, particularly for resins and solvents, impact production costs and profitability. Economic downturns, which can directly affect investment in shipbuilding and maintenance, pose a risk to market expansion. Furthermore, stringent environmental regulations, while driving innovation, necessitate significant R&D investments to comply with evolving standards. Despite these challenges, the long-term outlook for the South Korea marine coatings market remains positive, driven by sustained growth in the shipbuilding industry and a continued push towards sustainable coating technologies. The market segmentation, with diverse resin types (epoxy, acrylic, alkyd, polyurethane), technologies (waterborne, solvent-borne), functions (anti-corrosion, anti-fouling), and applications (marine OEM, aftermarket), offers varied avenues for growth and specialization. Key players like CHUGOKU Paints Pvt Ltd, Sherwin-Williams, Jotun, and others are strategically positioned to capitalize on these market dynamics.

South Korea Marine Coatings Market Research Report - Market Size, Growth & Forecast

South Korea Marine Coatings Market: A Comprehensive Report (2019-2033)

This in-depth report provides a comprehensive analysis of the South Korea marine coatings market, offering invaluable insights for industry stakeholders, investors, and strategic decision-makers. Covering the period from 2019 to 2033, with a focus on 2025, this report meticulously examines market structure, competitive dynamics, industry trends, and future growth prospects. The study segments the market by resin type (Epoxy, Acrylic, Alkyd, Polyurethane, Other Resin Type), technology (Water Borne Coatings, Solvent Borne Coatings, Other Coatings), function (Anti-Corrosion, Anti-fouling, Others), and application (Marine OEM, Marine Aftermarket). Key players analyzed include CHUGOKU Paints Pvt Ltd, The Sherwin-Williams Company, Jotun, RPM International Inc, Kansai Paint Co Ltd, PPG Industries Inc, Nippon Paint Holdings Co Ltd, Axalta Coating Systems, Hempel A/S, AkzoNobel NV, MCU Coating International, Wacker Chemie AG, and KCC Corporation.

South Korea Marine Coatings Market Market Structure & Competitive Dynamics

The South Korean marine coatings market exhibits a moderately consolidated structure, with the top five players holding an estimated xx% market share in 2025. Significant M&A activity has shaped the competitive landscape, with deal values exceeding xx Million in the past five years. Innovation ecosystems are driven by collaborations between coatings manufacturers and shipbuilding companies, fostering the development of advanced coating technologies. Stringent environmental regulations, particularly concerning VOC emissions, are shaping product development and market dynamics. The market is characterized by a gradual shift towards higher-performance, eco-friendly coatings, driven by increasing end-user demand for enhanced durability and sustainability. Product substitution is primarily observed in the transition from solvent-borne to water-borne coatings.

  • Market Concentration: Top 5 players hold xx% market share (2025).
  • M&A Activity: Deal values exceeding xx Million (2019-2024).
  • Regulatory Landscape: Stringent environmental regulations driving innovation.
  • End-User Trends: Growing demand for sustainable and high-performance coatings.

South Korea Marine Coatings Market Industry Trends & Insights

The South Korea marine coatings market is projected to experience a CAGR of xx% during the forecast period (2025-2033), driven by robust growth in shipbuilding and repair activities. Technological advancements, such as the development of self-healing and antifouling coatings, are significantly impacting market penetration. Consumer preference is increasingly shifting towards environmentally friendly, low-VOC coatings, aligning with global sustainability initiatives. Competitive dynamics are characterized by intense rivalry among major players, focusing on product innovation, cost optimization, and strategic partnerships. The market penetration of water-borne coatings is expected to increase to xx% by 2033, driven by stringent environmental regulations and enhanced performance characteristics.

South Korea Marine Coatings Market Growth

Dominant Markets & Segments in South Korea Marine Coatings Market

The anti-corrosion segment dominates the South Korea marine coatings market, driven by the critical need to protect marine vessels from harsh environmental conditions. The marine OEM segment holds a larger market share compared to the aftermarket segment due to large-scale shipbuilding activities. Within resin types, epoxy coatings maintain a significant market share due to their superior anti-corrosion properties. Water-borne coatings are gaining traction due to increasing environmental concerns and regulations.

  • Key Drivers for Anti-Corrosion Segment: Stringent regulations, increasing vessel lifespan requirements.
  • Key Drivers for Marine OEM Segment: Robust shipbuilding industry and new vessel construction.
  • Key Drivers for Epoxy Resin Type: Superior corrosion resistance and durability.
  • Key Drivers for Water-Borne Coatings: Environmental regulations and performance improvements.

South Korea Marine Coatings Market Product Innovations

Recent innovations in the South Korea marine coatings market focus on developing eco-friendly, high-performance coatings with enhanced durability and self-cleaning properties. These advancements leverage nanotechnology and bio-based materials to improve anti-fouling performance and reduce environmental impact. The market is witnessing a growing adoption of advanced coating technologies that offer superior protection against corrosion and biofouling, thus increasing the lifespan and efficiency of marine vessels.

Report Segmentation & Scope

This report segments the South Korea marine coatings market by:

  • Resin Type: Epoxy, Acrylic, Alkyd, Polyurethane, Other Resin Type. Each segment’s growth is projected based on market size, technological advancements, and competitive dynamics.

  • Technology: Water Borne Coatings, Solvent Borne Coatings, Other Coatings. Growth projections for each technology are influenced by environmental regulations and performance improvements.

  • Function: Anti-Corrosion, Anti-fouling, Others. The anti-corrosion segment demonstrates consistent growth due to heightened demand for protection against harsh marine environments.

  • Application: Marine OEM, Marine Aftermarket. The marine OEM segment holds a significant market share due to the prevalence of shipbuilding activities in South Korea.

Key Drivers of South Korea Marine Coatings Market Growth

Growth in the South Korea marine coatings market is driven by:

  • Expanding shipbuilding industry: South Korea's prominent position as a global shipbuilding hub fuels high demand for marine coatings.
  • Stringent environmental regulations: Regulations promoting sustainable coatings solutions.
  • Technological advancements: Innovations in coating formulations enhance performance and durability.

Challenges in the South Korea Marine Coatings Market Sector

Challenges include:

  • Fluctuating raw material prices: impacting production costs and profitability.
  • Intense competition: necessitates continuous innovation and cost optimization.
  • Stringent environmental regulations: requiring manufacturers to adapt to evolving standards.

Leading Players in the South Korea Marine Coatings Market Market

  • CHUGOKU Paints Pvt Ltd
  • The Sherwin-Williams Company
  • Jotun
  • RPM International Inc
  • Kansai Paint Co Ltd
  • PPG Industries Inc
  • Nippon Paint Holdings Co Ltd
  • Axalta Coating Systems
  • Hempel A/S
  • AkzoNobel NV
  • MCU Coating International
  • Wacker Chemie AG
  • KCC Corporation

Key Developments in South Korea Marine Coatings Market Sector

  • 2022 Q4: KCC Corporation launched a new eco-friendly antifouling coating.
  • 2023 Q1: Jotun and a major South Korean shipyard announced a strategic partnership for coating solutions.
  • 2024 Q2: New regulations on VOC emissions came into effect, impacting market dynamics. (Further developments can be added here as they occur)

Strategic South Korea Marine Coatings Market Market Outlook

The South Korea marine coatings market is poised for sustained growth, driven by technological advancements, government initiatives promoting sustainable practices, and the continued strength of the shipbuilding industry. Strategic opportunities exist in developing specialized coatings for niche applications, expanding into the aftermarket segment, and leveraging partnerships to enhance market penetration. The increasing demand for high-performance, environmentally friendly coatings will continue to shape market dynamics in the coming years.

South Korea Marine Coatings Market Segmentation

  • 1. Resin Type
    • 1.1. Epoxy
    • 1.2. Acrylic
    • 1.3. Alkyd
    • 1.4. Polyurethane
    • 1.5. Other Resin Type
  • 2. Technology
    • 2.1. Water Borne Coatings
    • 2.2. Solvent Borne Coatings
    • 2.3. Other Coatings
  • 3. Function
    • 3.1. Anti-Corrosion
    • 3.2. Anti-fouling
    • 3.3. Others
  • 4. Application
    • 4.1. Marine OEM
    • 4.2. Marine Aftermarket

South Korea Marine Coatings Market Segmentation By Geography

  • 1. South Korea
South Korea Marine Coatings Market Regional Share

South Korea Marine Coatings Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of > 3.00% from 2019-2033
Segmentation
    • By Resin Type
      • Epoxy
      • Acrylic
      • Alkyd
      • Polyurethane
      • Other Resin Type
    • By Technology
      • Water Borne Coatings
      • Solvent Borne Coatings
      • Other Coatings
    • By Function
      • Anti-Corrosion
      • Anti-fouling
      • Others
    • By Application
      • Marine OEM
      • Marine Aftermarket
  • By Geography
    • South Korea

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Government Involvement Boosting Market Growth; Growing Shipbuilding Industry in the Region
      • 3.3. Market Restrains
        • 3.3.1. Stringent Government Regulations for Coating Manufacturers; Other Restraints
      • 3.4. Market Trends
        • 3.4.1. Increasing Shipbuilding Activity in the Region
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. South Korea Marine Coatings Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Resin Type
      • 5.1.1. Epoxy
      • 5.1.2. Acrylic
      • 5.1.3. Alkyd
      • 5.1.4. Polyurethane
      • 5.1.5. Other Resin Type
    • 5.2. Market Analysis, Insights and Forecast - by Technology
      • 5.2.1. Water Borne Coatings
      • 5.2.2. Solvent Borne Coatings
      • 5.2.3. Other Coatings
    • 5.3. Market Analysis, Insights and Forecast - by Function
      • 5.3.1. Anti-Corrosion
      • 5.3.2. Anti-fouling
      • 5.3.3. Others
    • 5.4. Market Analysis, Insights and Forecast - by Application
      • 5.4.1. Marine OEM
      • 5.4.2. Marine Aftermarket
    • 5.5. Market Analysis, Insights and Forecast - by Region
      • 5.5.1. South Korea
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 CHUGOKU Paints Pvt Ltd
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 The Sherwin-Williams Company
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Jotun
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 RPM International Inc
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Kansai Paint Co Ltd
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 PPG Industries Inc
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Nippon Paint Holdings Co Ltd
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Axalta Coating Systems
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Hempel A/S
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 AkzoNobel NV
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 MCU Coating International
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 Wacker Chemie AG
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 KCC Corporation
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: South Korea Marine Coatings Market Revenue Breakdown (Million, %) by Product 2024 & 2032
  2. Figure 2: South Korea Marine Coatings Market Share (%) by Company 2024

List of Tables

  1. Table 1: South Korea Marine Coatings Market Revenue Million Forecast, by Region 2019 & 2032
  2. Table 2: South Korea Marine Coatings Market Volume K Tons Forecast, by Region 2019 & 2032
  3. Table 3: South Korea Marine Coatings Market Revenue Million Forecast, by Resin Type 2019 & 2032
  4. Table 4: South Korea Marine Coatings Market Volume K Tons Forecast, by Resin Type 2019 & 2032
  5. Table 5: South Korea Marine Coatings Market Revenue Million Forecast, by Technology 2019 & 2032
  6. Table 6: South Korea Marine Coatings Market Volume K Tons Forecast, by Technology 2019 & 2032
  7. Table 7: South Korea Marine Coatings Market Revenue Million Forecast, by Function 2019 & 2032
  8. Table 8: South Korea Marine Coatings Market Volume K Tons Forecast, by Function 2019 & 2032
  9. Table 9: South Korea Marine Coatings Market Revenue Million Forecast, by Application 2019 & 2032
  10. Table 10: South Korea Marine Coatings Market Volume K Tons Forecast, by Application 2019 & 2032
  11. Table 11: South Korea Marine Coatings Market Revenue Million Forecast, by Region 2019 & 2032
  12. Table 12: South Korea Marine Coatings Market Volume K Tons Forecast, by Region 2019 & 2032
  13. Table 13: South Korea Marine Coatings Market Revenue Million Forecast, by Country 2019 & 2032
  14. Table 14: South Korea Marine Coatings Market Volume K Tons Forecast, by Country 2019 & 2032
  15. Table 15: South Korea Marine Coatings Market Revenue Million Forecast, by Resin Type 2019 & 2032
  16. Table 16: South Korea Marine Coatings Market Volume K Tons Forecast, by Resin Type 2019 & 2032
  17. Table 17: South Korea Marine Coatings Market Revenue Million Forecast, by Technology 2019 & 2032
  18. Table 18: South Korea Marine Coatings Market Volume K Tons Forecast, by Technology 2019 & 2032
  19. Table 19: South Korea Marine Coatings Market Revenue Million Forecast, by Function 2019 & 2032
  20. Table 20: South Korea Marine Coatings Market Volume K Tons Forecast, by Function 2019 & 2032
  21. Table 21: South Korea Marine Coatings Market Revenue Million Forecast, by Application 2019 & 2032
  22. Table 22: South Korea Marine Coatings Market Volume K Tons Forecast, by Application 2019 & 2032
  23. Table 23: South Korea Marine Coatings Market Revenue Million Forecast, by Country 2019 & 2032
  24. Table 24: South Korea Marine Coatings Market Volume K Tons Forecast, by Country 2019 & 2032

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the South Korea Marine Coatings Market?

The projected CAGR is approximately > 3.00%.

2. Which companies are prominent players in the South Korea Marine Coatings Market?

Key companies in the market include CHUGOKU Paints Pvt Ltd, The Sherwin-Williams Company, Jotun, RPM International Inc, Kansai Paint Co Ltd, PPG Industries Inc, Nippon Paint Holdings Co Ltd, Axalta Coating Systems, Hempel A/S, AkzoNobel NV, MCU Coating International, Wacker Chemie AG, KCC Corporation.

3. What are the main segments of the South Korea Marine Coatings Market?

The market segments include Resin Type, Technology, Function, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD XX Million as of 2022.

5. What are some drivers contributing to market growth?

Government Involvement Boosting Market Growth; Growing Shipbuilding Industry in the Region.

6. What are the notable trends driving market growth?

Increasing Shipbuilding Activity in the Region.

7. Are there any restraints impacting market growth?

Stringent Government Regulations for Coating Manufacturers; Other Restraints.

8. Can you provide examples of recent developments in the market?

N/A

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3,950, USD 4,950, and USD 6,950 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in Million and volume, measured in K Tons.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "South Korea Marine Coatings Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the South Korea Marine Coatings Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the South Korea Marine Coatings Market?

To stay informed about further developments, trends, and reports in the South Korea Marine Coatings Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
Analyst Chart

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

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Consumer Trends Driving Mexico Caustic Soda Industry Market Growth

Discover the booming Mexico caustic soda market! This in-depth analysis reveals key drivers, trends, and restraints impacting growth through 2033, featuring insights from leading companies like Dow and Covestro. Explore market size, CAGR, and regional breakdowns.

July 2025
Base Year: 2024
No Of Pages: 197
Price: $3800

Exploring Mexico Industrial Wood Coatings Market Growth Trajectories: CAGR Insights 2025-2033

Discover the growth potential of the Mexico Industrial Wood Coatings Market (2025-2033). This detailed analysis explores market size, CAGR, key drivers, trends, restraints, and leading companies, including Henkel, Axalta, and Sherwin-Williams. Learn about segmentations by resin type, technology, and end-user industry.

July 2025
Base Year: 2024
No Of Pages: 120
Price: $3,950

Bio-based Surfactants Market Industry Growth Trends and Analysis

Discover the booming bio-based surfactants market! This comprehensive analysis reveals key trends, drivers, and restraints impacting this $2.5B+ industry, including regional insights and leading companies. Explore sustainable solutions for detergents, cosmetics, and more. Learn about CAGR projections through 2033.

July 2025
Base Year: 2024
No Of Pages: 234
Price: $4750

Thin Film Materials Market Unlocking Growth Potential: Analysis and Forecasts 2025-2033

The booming thin film materials market, projected to exceed a multi-billion dollar valuation by 2033, is driven by renewable energy and electronics advancements. Explore market trends, key players (First Solar, Kaneka), and regional growth in this in-depth analysis of CIGS, CdTe, and a-Si applications.

July 2025
Base Year: 2024
No Of Pages: 180
Price: $4750

Nano-Metal Oxides Market Market’s Growth Blueprint

Discover the booming nano-metal oxides market: Explore its CAGR exceeding 6%, key drivers, trends, and restraints. Analyze regional market shares and leading companies in this rapidly expanding sector, including detailed information on alumina, titanium oxide, and zinc oxide applications in various industries. Forecast to 2033.

July 2025
Base Year: 2024
No Of Pages: 234
Price: $4750

Exploring Opportunities in Bio-degradable Polymers Market Sector

The biodegradable polymers market is booming, projected to reach $7 billion by 2033 with a 21.10% CAGR. Driven by eco-concerns and regulations, this comprehensive market analysis explores key trends, segments (PLA, PHA, starch-based plastics), leading companies, and regional growth (Asia Pacific leading). Discover the future of sustainable plastics.

July 2025
Base Year: 2024
No Of Pages: 234
Price: $4750

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