South Korea FRP Vessels Market Insight
Published: 25 July 2026 | Report Format: Electronic (PDF) | Author: Sanket and Pranali
The South Korean market for fiber-reinforced polymer (FRP) vessels is growing at a compound annual growth rate of 5.61% due to the growing need for lightweight, corrosion-resistant vessels.
South Korea FRP Vessels Market Insights Forecasts to 2035
- The South Korea FRP Vessels Market Size Was Estimated USD 214.8 Million in 2025
- The Market Size is Expected to Grow at a CAGR of around 5.61% from 2025 to 2035
- The South Korea FRP Vessels Market Size is Expected to rise around USD 370.9 Million by 2035
Notable Insights for the South Korea FRP Vessels Market
- According to fiber type segmentation, the production of FRP vessels is dominated by glass fiber, while the fastest-growing category is carbon fiber vessels because of its higher strength-to-weight performance.
- According to application segmentation, the market demand is dominated by water and wastewater treatment, while marine and oil and gas applications are growing rapidly as corrosion resistance becomes crucial.
- The Ministry of Oceans and Fisheries in South Korea reports that there were 61,811 FRP fishing vessels in 2024, making up 97% of all registered fishing boats, of which 40.7% were older than 21.
- In 2024, the marine sector in South Korea set aside KRW 2.7 trillion for vessel modernization, with a large portion going toward recycling infrastructure and environmentally friendly FRP vessel replacements.
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What Makes Decisions Advisors Research Unique?
- AI-Driven Industrial Analytics & Marine Market Intelligence
Material Preference Modelling, Vessel Life-Cycle Assessment, and Compliance Trends Research for FRP Vessels is provided by Decisions Advisors with state-of-the-art AI-driven research. Growth Opportunities are forecasted in Water Treatment, Marine, and Oil & Gas Industries using predictive analytics.
- Robust Research Methodology with Accurate Forecasting Models
This market research project includes both primary and secondary approaches through conducting interviews with FRP boats manufacturing companies, shipyards, and users of this product type along with government maritime database information, industry publications, and trade statistics.
- Comprehensive Competitive and Ecosystem Analysis
This report analyzes key manufacturers of FRP vessel manufacturing, raw material suppliers, and certifying agencies. It offers an insight into competition, technology, partnerships, and new opportunities within the South Korea FRP vessels market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the South Korea FRP vessels market, along with a comparative evaluation primarily based on their product of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
Top Companies in South Korea FRP Vessels Market
- Kangnam Corporation
- HLB ENG (formerly Kyungil Yacht)
- Kwangdong FRP Industrial Co.
- Daeyeong Shipbuilding
- Samkang M&T
- Haesung Industry
- Hyundai FRP Shipbuilding
- Sungjin FRP Industrial
- Korea FRP Shipbuilding
- Dongyoung Shipbuilding
Recent Developments:
- In June 2025, Kwangdong FRP Industrial expanded its offerings for the chemical processing and water treatment industries by introducing sophisticated corrosion-resistant FRP pressure vessels and industrial storage tanks.
- In May 2025, to improve the design and production of FRP vessels for fishing, coastal patrol, and commercial marine applications, Kangnam Corporation collaborated with domestic marine engineering companies.
Market Segmentation:
South Korea FRP Vessels Market, By Fiber Type
- Glass Fiber
- Carbon Fiber
South Korea FRP Vessels Market, By Resin Type
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- Polyester
- Epoxy
- Others
South Korea FRP Vessels Market, By Application
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- Water & Wastewater
- Marine & Offshore
- Oil & Gas
- Chemical Processing
- Automotive & Transportation
Expert Views:
The South Korea FRP vessels market is going to be just fine. Will see some growth. This is because people really need materials that can withstand corrosion. There is also a lot of work being done on water treatment facilities and old marine vesselsre being upgraded. When it comes to FRP vessels new technical developments are being made in the materials used. A lot of money is being invested in industries and there are rules to protect the environment so people will use FRP vessels.
Author: Sanket and Pranali By Decisions Advisors and Consulting