The market is dominated by domestic suppliers, as imports account for 38.9% of total market size in 2023. B2B drives market demand, with B2B spending representing 99.8% of total demand in 2023. South Korea has the fourth largest market size for basic chemicals regionally, with demand reaching USD66.6 billion in 2023. Sk Global Chemical Co Ltd is the largest company in South Korea, generating 8.6% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 29.3% of total production value in 2023. The total number of companies decreases in 2023, to 749 units. The costs of the industry decrease by 4.2% in 2023, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 7.0% of production value in 2023, the 19th highest regionally. The industry’s exports share decreases in 2023 to 37.7% of total production output. With production value of USD62.5 billion, South Korea accounts for 7.6% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Basic Chemicals in South Korea: ISIC 2411. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Basic Chemicals in South Korea: ISIC 2411 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of basic chemicals, fertilisers and nitrogen compounds, man-made fibers, paints and varnishes, pesticides and other agro-chemical products, photochemicals, explosives and other chemicals, plastic in primary forms and synthetic rubber.
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