The import of plastics waste or scrap to South Korea showed fluctuating trends over the past decade. Starting from 32.175 million USD in 2013, it reduced significantly through 2016, followed by a notable rise peaking in 2018 at 64.267 million USD. Although there was a minor decline in 2019 and 2020, the value increased again, reaching 66.853 million USD in 2023. This marks a 4.52% year-on-year increase in 2023. The five-year CAGR from 2018 to 2023 was relatively modest at 0.79%.
Future forecasts indicate a steady rise in imports, expected to grow by an average of 3.22% CAGR over the next five years, with a forecast growth rate of 17.14% by 2028. Watch for trends in regulatory changes regarding plastic waste management, global market fluctuations, and shifts in supply chain dynamics, which could impact the import volumes and values significantly.
