Industrial Electronics Packaging Industry Analysis in Korea

An In-depth Analysis of Industrial Electronics Packaging in Korea from (2024 to 2034)

The demand for industrial electronics packaging in Korea is expected to be worth USD 68.5 million in 2024. In 2023, the industry size reached USD 64.6 million. The demand in Korea is projected to continue at a normal rate over the 2024 to 2034 forecast period, with a CAGR of 4.1%. By 2034, the sale of industrial electronics packaging in Korea is anticipated to have reached a value of USD 102.7 million.

Key Insights on Industrial Electronics Packaging in Korea

• Korea has earned a reputation for being one of the highly technologically advanced countries on earth. A large part is played by the presence of giants like Samsung and LG in gaining this reputation. Thus, as technology advances in Korea, so does the need for industrial electronic packaging to store and protect electronics.
• Industrial development in Korea is facilitated by government schemes. For packaging as well, the Korean government is providing assistance and collaborating with renowned companies.
• Due to the large industrial and technology sector in Korea, advancements are rapid. In industrial electronics packaging too, there have been considerable advances in Korea, helping to keep the demand fresh.

Attributes	Details
Industry Size for Korea in 2024	USD 68.5 million
Expected Industry Size for Korea by 2034	USD 102.7 million
Forecasted CAGR between 2024 to 2034	4.1%

Key Trends Shaping the Demand of Industrial Electronics Packaging in Korea

• There is a demand in Korea to package fragile electronic material in rigid and tough materials. Thus, materials like plastic and paper are used extensively in packaging.
• While the industrial sector is booming in Korea, Korean people and manufacturers are also becoming conscious of the environmental impact of packaging materials like plastic. Thus, there is an increasing adoption of eco-friendly materials like paper in industrial electronic packaging.
• Along with technological advancements, manufacturers have also sought to make packaging easy to handle. As electronic devices get smaller, there is a need for more compact packaging solutions, and players in Korea are heeding the need.
• In the commercial sector, Korean organizations are increasingly adopting digitalization. Thus, electronic devices are becoming commonplace in Korean offices. The adoption of electronics in Korean commercial spaces is increasing the demand for industrial electronic packaging.
• Along with rigid packaging, manufacturers in Korea are also concentrating on flexible packaging. Korean consumers are looking for lightweight and easy-to-wrap materials, and thus, flexible packaging is being done by companies.

Category-wise Insights

Korean Consumers Prioritize Safety in Electronic Packaging, Favoring Rigid Solutions

Rigid packaging emerges triumphant in the packaging type segment. For 2024, the industry share of rigid packaging is estimated to be an overwhelming 94.3%.

Electronic products are pricey. Therefore, Koreans are anxious to ensure the products are sealed properly to minimize damage. Thus, rigid packaging is preferred in Korea to make sure electronic products remain safe.

Demand for Industrial Electronics Packaging in Korea Based on Packaging Type	Rigid
Industry Share in 2024	94.3%

Plastic is Still the Preferred Material Type in Industrial Electronics Packaging

Plastic is the material commonly used in industrial electronic packaging. For 2024, plastic is expected to hold 56.6% of the industry share.

Plastic is preferred by manufacturers as it provides stern resistance to chemicals and water. Therefore, there is a high level of security associated with plastic. However, environmental regulations mean there is a limit to the use of plastic. Thus, other materials like paper and rubber are also expected to grow at a rapid rate.

Demand for Industrial Electronics Packaging in Korea Based on Material Type	Plastic
Industry Share in 2024	56.6%

Competitive Landscape

Players in Korea are aided by favorable schemes from the government to grow. Thus, there is encouragement for the players to engage in research and development for the purpose of innovation. Korea-based industry players are also looking to expand outside the country. As technology advances in Korea, renowned players are seeking to gain a foothold outside the country with the help of cutting-edge technology.

Recent Developments Observed in Industrial Electronics Packaging in Korea

• In September 2023, Taiyo Yuden developed a technology called fan-out wafer-level package (FOWLP). The technology aims to make packages for electronics considerably lighter and thinner.
• In July 2022, Murata Manufacturing developed a technology called embedded passives (ePassives). The technology aims to reduce the weight of electronic devices.

Some of the Key Players with Industrial Electronics Packaging in Korea

• DS Smith Plc.
• Smurfit Kappa Group Plc.
• UFP Technologies Inc.
• Sealed Air Corporation
• Achilles Corporation
• Desco Industries Inc.
• Botron Company Inc.
• Kiva Container Corporation
• Orlando Products Inc.
• Delphon Industries LLC
• Summit Container Corporation
• Protective Packaging Corporation
• Dou Yee Enterprises (S) Pte Ltd.
• Dordan Manufacturing Company Inc.
• GWP Group Limited
• Pure-Stat Engineered Technologies Inc.
• AUER Packaging GmbH
• Emballages Cre-O-Pack International Inc.
• Universal Protective Packaging Inc.

Scope of the Report

Attribute	Details
Estimated Industry Size in 2024	USD 68.5 million
Projected Industry Size by 2034	USD 102.7 million
Anticipated CAGR between 2024 to 2034	4.1% CAGR
Historical Analysis of Demand for Industrial Electronics Packaging in Korea	2019 to 2023
Demand Forecast for Industrial Electronics Packaging in Korea	2024 to 2034
Report Coverage	Industry Size, Industry Trends, Key Insights for Industrial Electronics Packaging in Korea, Insights on Global Players and Leading Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers
Key Companies Profiled	DS Smith Plc.; Smurfit Kappa Group Plc.; UFP Technologies Inc.; Sealed Air Corporation; Achilles Corporation; Desco Industries Inc.; Botron Company Inc.; Kiva Container Corporation; Orlando Products Inc.; Delphon Industries LLC; Summit Container Corporation; Protective Packaging Corporation; Dou Yee Enterprises (S) Pte Ltd.; Dordan Manufacturing Company Inc.; GWP Group Limited; Pure-Stat Engineered Technologies Inc.; AUER Packaging GmbH; Emballages Cre-O-Pack International Inc.; Universal Protective Packaging Inc.
Key Cities Analyzed	South Gyeongsang, North Jeolla, South Jeolla, Jeju

Key Segments

By Packaging Type:

• Rigid
  • Corrugated Boxes
  • Containers
  • Protective Packs
  • Trays
  • Clamshells
  • Bin & Totes
  • Others
• Flexible
  • Bags & Pouches
  • Tapes & Labels
  • Films & Others

By Material Type:

• Plastic
  • PE
  • PET
  • PS
  • PP
  • PVC
• Paper & Board

By Province:

• South Gyeongsang
• North Jeolla
• South Jeolla
• Jeju

Frequently Asked Questions

What is the Industry Size of Industrial Electronics Packaging in Korea?

The industry size of industrial electronics packaging in Korea is estimated to be USD 68.5 million in Korea in 2024.

At what Rate is Industrial Electronics Packaging Growing in Korea?

The industrial electronics packaging industry is forecasted to develop at a rate of 4.1% in Korea for the 2024 to 2034 period.

What will be the Industry Size of Industrial Electronics Packaging in Korea by 2034?

The industry size for industrial electronics packaging is forecasted to reach USD 102.7 million in Korea by 2034.

What is the Preferred Material Type for Industrial Electronics Packaging in Korea?

Plastic is the preferred material type in Korea, with an expected industry share of 56.6% in Korea in 2024.

What is the Key Packaging Type Commonly Found in Industrial Electronics Packaging in Korea?

Rigid packaging rules the roost in Korea, with an expected industry share of 94.3% in 2024.