The market is dominated by domestic suppliers, as imports account for 48.5% of total market size in 2023. B2B drives market demand, with B2B spending representing 96.9% of total demand in 2023. South Korea has the third largest market size for photochemicals, explosives and other chemicals regionally, with demand reaching USD26.2 billion in 2023. Hanwha Group is the largest company in South Korea, generating 10.6% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 26.0% of total production value in 2023. The total number of companies increases in 2023, to 2,101 units. The costs of the industry increase by 0.6% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 21.4% of production value in 2023, the 11th highest regionally. The industry’s exports share decreases in 2023 to 44.9% of total production output. With production value of USD22.4 billion, South Korea accounts for 4.8% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Photochemicals, Explosives and Other Chemicals in South Korea: ISIC 2429. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Photochemicals, Explosives and Other Chemicals in South Korea: ISIC 2429 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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