The value added of the waste management and materials recovery market in South Korea grew from KRW 108.02 billion in 2015 to KRW 215.23 billion in 2023. The growth rate has shown significant variability, with notable peaks in 2016 (15.26%) and 2017 (35.75%). The market saw a slight decline in 2020 (-4.43%), likely due to the pandemic, but rebounded well with a 2023 level standing at 215.23 billion South Korean Wons. Over the last five years, the CAGR has been 2.61%. For future trends, the forecast indicates a steady increase with a 5-year CAGR of 2.3%, projecting the market to reach KRW 249.19 billion by 2028.

Future trends to watch for:

Adoption of advanced recycling technologies to improve materials recovery rates.
Regulatory changes promoting sustainability and circular economy practices.
Increasing participation from private sectors and international investments.
Continued impact of economic cycles and environmental policies.