The size of the global chemical industry and production and consumption in Korea
2022-04-29
As of 2019, the global market share of the chemical industry was China, the United States, Japan, Germany, and Korea, followed by Korea’s share of $158.3 billion, which is 4.0%, ranking 5th in the world in the size of the chemical industry.
[Source- Petrochemical Association 2021 Mini Book – 5P]
For synthetic resins such as polyethylene (PE), polypropylene (PP), polystyrene (PS), ABS, PVC, PC, PBT, POM, and EP, the average growth rate of production from 2014 to 2020 is 1.9%, and the average growth rate of demand is 0.9%, a steady increase every year.
The table below shows the synthetic resin production by major countries. Korea is the fourth largest producer of synthetic resins with an estimated 140 million tons in 2022, and at the same time has a high demand for self-sufficiency. Among them, polypropylene (PP) accounts for the largest amount of production and demand, followed by LDPE and HDPE among polyethylene (PE).
[Source- Petrochemical Association 2021 Mini Book – 11P]
PE of LDPE and HDPE is relatively inexpensive compared to other resins and is easy to mold, so it is widely used in film, injection, blow, reinforced film, extrusion, and laminate, etc. It is consumed as a variety of plastic products readily available in If you have any questions about masterbatches that can revitalize plastic products, such as Color Masterbatch for coloring, Antioxidant Masterbatch to prevent oxidation, and UV stabilizer/Absorber Masterbatch for UV protection, please contact us below.
info@samtech.kr
List of upcoming exhibitions of Samhwa Corporation
① 22.09.27~10.1 TAIPEI PLAS, Taiwan / Ground Level(1F), I0703
② 22.10.19~10.26 Germany K-Fair , Germany / Hall 11, Stand A04-06
③ 22.11.05~11.10 China International Import Expo, CHINA