Summary
Chemicals in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Chemicals market is segmented into commodity chemicals, specialty chemicals, agriculture chemicals, and others. Market values represent country's consumption of chemical products at the producer's selling price (PSP).
- The South Korean chemicals market recorded revenues of $153.3 billion in 2024, representing a compound annual growth rate (CAGR) of 3.0% between 2019 and 2024.
- The commodity chemicals segment accounted for the market's largest proportion in 2024, with total revenues of $117.1 billion, equivalent to 76.3% of the market's overall value.
- In 2024, South Korea’s chemicals market grew by 5.1%, largely driven by increased GDP, which boosted industrial activity, infrastructure development, and consumer demand. For instance, according to the Bank of Korea, the real GDP growth of South Korea reached 2.1% in 2024 from 1.4% in 2023. This economic expansion led to higher consumption of chemicals across manufacturing, agriculture, and consumer goods sectors.
Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the chemicals market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the chemicals market in South Korea
- Leading company profiles reveal details of key chemicals market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea chemicals market with five year forecasts
Reasons to Buy
- What was the size of the South Korea chemicals market by value in 2024?
- What will be the size of the South Korea chemicals market in 2029?
- What factors are affecting the strength of competition in the South Korea chemicals market?
- How has the market performed over the last five years?
- How large is South Korea’s chemicals market in relation to its regional counterparts?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market rivalry
1.6. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Who are the leading players?
7.2. What are the strengths of the players?
7.3. What are the recent developments?
8 Company Profiles
8.1. LG Chem Ltd
8.2. Lotte Chemical Corp
8.3. Hanwha Solutions Corp
8.4. SK Innovation Co Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: South Korea chemicals market value: $ billion, 2019-24
Table 2: South Korea chemicals market category segmentation: % share, by value, 2019-24
Table 3: South Korea chemicals market category segmentation: $ billion, 2019-24
Table 4: South Korea chemicals market geography segmentation: $ billion, 2024
Table 5: South Korea chemicals market value forecast: $ billion, 2024-29
Table 6: LG Chem Ltd: Key Facts
Table 7: LG Chem Ltd: Annual Financial Ratios
Table 8: LG Chem Ltd: Key Employees
Table 9: Lotte Chemical Corp: Key Facts
Table 10: Lotte Chemical Corp: Annual Financial Ratios
Table 11: Lotte Chemical Corp: Key Employees
Table 12: Hanwha Solutions Corp: Key Facts
Table 13: Hanwha Solutions Corp: Annual Financial Ratios
Table 14: Hanwha Solutions Corp: Key Employees
Table 15: SK Innovation Co Ltd: Key Facts
Table 16: SK Innovation Co Ltd: Annual Financial Ratios
Table 17: SK Innovation Co Ltd: Key Employees
Table 18: South Korea Exchange Rate, 2019-24
List of Figures
Figure 1: South Korea chemicals market value: $ billion, 2019-24
Figure 2: South Korea chemicals market category segmentation: $ billion, 2019-24
Figure 3: South Korea chemicals market geography segmentation: % share, by value, 2024
Figure 4: South Korea chemicals market value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the chemicals market in South Korea, 2024
Figure 6: Drivers of buyer power in the chemicals market in South Korea, 2024
Figure 7: Drivers of supplier power in the chemicals market in South Korea, 2024
Figure 8: Factors influencing the likelihood of new entrants in the chemicals market in South Korea, 2024
Figure 9: Factors influencing the threat of substitutes in the chemicals market in South Korea, 2024
Figure 10: Drivers of degree of rivalry in the chemicals market in South Korea, 2024
