South Korea p-Phthalic Acid Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The South Korea p-Phthalic Acid Market is experiencing significant growth driven by various industries that rely on this chemical compound for multiple applications. p-Phthalic Acid, also known as 1,2-benzenedicarboxylic acid, is a key ingredient used in the production of plasticizers, dyes, and resins. The growing demand for these products, combined with the rising need for high-performance materials, is fueling the market's expansion in South Korea.
One of the main applications of p-Phthalic Acid is in the manufacturing of plasticizers, which are added to plastics to increase their flexibility and durability. These plasticizers are used extensively in the production of PVC (polyvinyl chloride) products, which are widely used in the construction, automotive, and electrical industries. As the construction industry in South Korea continues to expand, the demand for PVC products—and consequently, p-Phthalic Acid—is expected to increase steadily.
Another significant application of p-Phthalic Acid is in the production of dyes and pigments. The chemical is used to produce a variety of colorants that are essential in the textile, paint, and coatings industries. With the growing consumer demand for colorful and vibrant products, especially in fashion and interior design, South Korea's textile and coating industries are contributing to the surge in p-Phthalic Acid demand.
Furthermore, p-Phthalic Acid is also crucial in the production of unsaturated polyester resins (UPR), which are widely used in the automotive, marine, and construction industries. These resins are known for their strength, durability, and corrosion resistance, making them ideal for use in manufacturing components that require high-performance materials. The automotive industry in South Korea, one of the largest globally, continues to drive the need for UPR-based products, thereby boosting the demand for p-Phthalic Acid.
Industries in South Korea are increasingly recognizing the importance of p-Phthalic Acid for the production of high-quality and durable products. The growing industrialization in sectors such as automotive, construction, and textiles is expected to sustain the demand for p-Phthalic Acid in the years to come. As the market continues to evolve, manufacturers are also focusing on innovations to improve the efficiency and environmental sustainability of p-Phthalic Acid production, further enhancing its applicability across various industries.
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Thermo Fisher Scientific
Merck
Eastman
SABIC
Origin Materials
CNPC
TCI
Toronto Research Chemicals
Alfa Chemistry
FCFA
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea p-Phthalic Acid Market
Plasticizers
Dyes and Pigments
Resins and Adhesives
Pharmaceuticals
Cosmetics and Personal Care Products
Construction Materials
Construction
Textiles
Automotive
Electronics
Packaging
Healthcare
Industrial Grade
Lab Grade
Food Grade
Granular
Powder
Liquid
Direct Sales
Distributors
Online Platforms
Retail Chains
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea p-Phthalic Acid Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea p-Phthalic Acid Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea p-Phthalic Acid Market, By Type
6. South Korea p-Phthalic Acid Market, By Application
7. South Korea p-Phthalic Acid Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea p-Phthalic Acid Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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