Bubble Wrap Packaging Industry Analysis in Korea

A Complete Study of Bubble Wrap Packaging in Korea from (2023 to 2033)

Demand for bubble wrap packaging in Korea is anticipated to exhibit a CAGR of 2.30% through 2033. The bubble wrap packaging sales outlook is expected to grow considerably, from USD 15.8 million in 2023 to around USD 19.9 million by 2033.

Attributes	Key Statistics
Base Year Value (2023)	USD 15.8 million
Anticipated Forecast Value (2033)	USD 19.9 million
Estimated Growth (2023 to 2033)	2.30% CAGR

Key Highlights

Rise in eCommerce to boost the Bubble Wrap Packaging Industry in Korea

The bubble wrap packaging industry has been going through a significant surge in the Korea as more consumers turn to online shopping. There is a growing need for safe and secure packaging solutions to protect products during transit, and bubble wrap packaging provides excellent cushioning and shock absorption properties, ensuring that items arrive at their destination in optimal condition.

This has led to an increased demand for bubble wrap packaging materials and solutions in Korea.

Bubble wrap packaging offers a versatile and cost-effective solution for safeguarding these items during transportation. Its lightweight nature also helps to minimize shipping costs, making it an attractive choice for eCommerce businesses looking to optimize their packaging processes. As the eCommerce industry continues to grow and evolve in Korea, the demand for bubble wrap packaging is expected to rise in parallel.

Consumption Analysis of Bubble Wrap Packaging Industry in Korea:

• Online retailers and marketplaces form one of the leading consumer bases of Korea's bubble wrap packaging industry. These industries use bubble wrap packaging solutions for shipping and make sure that the shipped products are protected from breakages.
• Conventional retailers and wholesalers in industries with bulky products, such as electronics, home appliances, and automotive, also rely on bubble wrap packaging to safeguard their products from potential damage during transit.
• Manufacturers across various sectors, including electronics, automotive, and consumer goods, depend on bubble wrap packaging to protect their products during both manufacturing and distribution.
• On a very smaller scale, bubble wrap packaging is used by individuals for personal use, for moving or shipping items. It provides an easy and effective way to protect fragile belongings during relocation or when sending packages to friends and family.

Category-wise Insights

LDPE Bubble Wrap Packaging retains its Popularity in Korea

On the basis of material type, Low-density Polyethylene dominates the bubble wrap industry with a revenue share of 73.00% in 2023.

Attributes	Details
Material Type	LDPE
Value Share in 2023	73.00%

In Korea, LDPE (Low-Density Polyethylene) bubble wrap packaging solutions have gained significant preference because they offer exceptional cushioning and protection for products during transportation. The air-filled bubbles act as a buffer, effectively absorbing shocks and impacts that may occur during handling and shipping.

LDPE bubble wrap is lightweight and cost-effective, making it the preferred choice for businesses in Korea. The low density of LDPE allows for efficient use of materials while still providing adequate protection. This not only reduces business expenses but also fulfills the demand for sustainability and eco-friendly practices.

Bubble Wrap Packaging Solutions finds its place in the Korean Manufacturing & Warehousing Industry

Application-wise, the bubble wrap packaging industry is segmented into manufacturing & warehousing, eCommerce, and logistics & transportation. As of 2023, the manufacturing industry heavily dominates the Korean landscape with a revenue share of 41.8%.

Attributes	Details
Application	Manufacturing & Warehousing
Value Share in 2023	41.80%

Bubble wrap packaging has found its place as a valuable solution in the Korean manufacturing industry, providing excellent protection for products during the manufacturing process. In the electronics, automotive, and consumer goods industries, where delicate and sensitive components are involved, bubble wrap acts as a reliable cushioning material.

There is also considerable demand for bubble wrap packaging solutions in the Korean manufacturing sector, as it helps prevent scratches, dents, and other damages that can occur during handling, assembly, and transportation. By securely wrapping products with bubble wrap, manufacturers can ensure that their goods remain intact and in pristine condition throughout the production cycle.

Competitive Landscape

The bubble wrap packaging industry in Korea is going through a slight plunge, as it can be noticed that there has been minimal growth in recent years. The presence of numerous key players who have their reach not just in Korea but worldwide is adding to the industry's overall revenue growth.

\Well-established players have put extensive research into developing sustainable materials in the bubble wrap packaging industry. Despite coming up with eco-friendly materials, businesses all around the region still prefer conventional packaging solutions due to affordability, availability, and familiarity.

Recent Developments in the Bubble Wrap Packaging Industry in Korea:

• Recently, LG Chem acquired the bubble wrap packaging business of Showa Denko, a Japanese specialty materials and chemical company. LG Chem also developed the world's first biodegradable plastic alternative for bubble wrap cushioning, mask covers, and other products.
• In 2020, Lotte Chemical, a South Korea-based petrochemical company, acquired the bubble wrap packaging business of Hyundai Petrochemical by investing USD 502 million.
• In 2019, SK Corporation acquired the bubble wrap packaging business of Hanwha Chemical.

Some of the Key Players in the Bubble Wrap Packaging Industry in Korea:

• LG Chem
• Lotte Chemical
• SK Corporation
• Dow Chemical Korea
• Hanwha Chemical
• Kumho Petrochemical
• S-Pack
• WooSung Packaging
• Daelim Chemical
• Shinwha Packaging
• Daelim Industry
• Samhwa Packaging

Scope of the Report

Attribute	Details
Estimated Valuation (2023)	USD 15.8 million
Projected Valuation (2033)	USD 19.9 million
Anticipated CAGR (2023 to 2033)	2.30% CAGR
Historical Analysis of the Bubble Wrap Packaging Industry in Korea	2018 to 2022
Demand Forecast the Bubble Wrap Packaging Industry in Korea	2023 to 2033
Quantitative Units	Revenue in USD million and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Key Cities Profiled	South Gyeongsang, North Jeolla, South Jeolla, Jeju
Key Companies Profiled	LG Chem; Lotte Chemical; SK Corporation; Dow Chemical Korea; Hanwha Chemical; Kumho Petrochemical; S-Pack; WooSung Packaging; Daelim Chemical; Shinwha Packaging; Daelim Industry; Samhwa Packaging

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
• 5. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Material Type
  • 5.1. LDPE
  • 5.2. HDPE
  • 5.3. LLDPE
• 6. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
  • 6.1. Bubble Sheets
  • 6.2. Bubble Bags/Mailers
• 7. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use
  • 7.1. Manufacturing & Warehousing
  • 7.2. E-commerce
  • 7.3. Logistics & Transportation
• 8. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
  • 8.1. South Gyeongsang
  • 8.2. North Jeolla
  • 8.3. South Jeolla
  • 8.4. Jeju
  • 8.5. Rest of Korea
• 9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 13. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 14. Market Structure Analysis
• 15. Competition Analysis
  • 15.1. Abriso-Jiffy NV
  • 15.2. Intertape Polymer Group Inc.
  • 15.3. iVEX Packaging
  • 15.4. Nefab AB
  • 15.5. Pregis LLC
  • 15.6. Sealed Air Corp.
  • 15.7. Smurfit Kappa Group Plc
  • 15.8. Storopack Hans Reichenecker GmbH
  • 15.9. Tarheel Paper and Supply Co.
  • 15.10. Veritiv Corp.
• 16. Assumptions & Acronyms Used
• 17. Research Methodology