South Korea Higher Olefins Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 0.9 Billion by 2030, growing at a CAGR of 4.6% from 2024 to 2030.
The South Korea higher olefins market has witnessed steady growth in recent years, driven by increasing demand across various industries. Higher olefins, which are hydrocarbon compounds with a longer carbon chain, are primarily used in the production of detergents, plastics, lubricants, and chemical intermediates. These versatile compounds play a vital role in several sectors, and understanding their applications and industrial requirements is crucial for businesses involved in this market.
Higher olefins are mainly used in the manufacturing of detergents, which are in high demand due to the country’s growing consumer goods market. These compounds help improve the washing performance of detergents by providing better stability, which is why industries are increasingly opting for higher olefins. The automotive sector also plays a significant role, as these compounds are essential in producing lubricants and additives that enhance vehicle performance. Additionally, higher olefins find wide application in the polymer industry, where they are used as raw materials for producing plastic films, fibers, and packaging materials.
The requirement for higher olefins from various industries has been expanding due to the increasing need for more efficient and sustainable products. The chemical industry, in particular, is a major driver of demand. Companies producing surfactants and other chemical derivatives heavily rely on higher olefins. The growth of the construction sector and the rising trend of plastic packaging have further bolstered the need for these olefins, which are used as key components in a wide range of materials.
South Korean companies have responded to these demands by expanding production capacity and introducing advanced technologies to ensure high-quality production. Furthermore, industries are focusing on sustainable practices, which has led to innovations in the processing of higher olefins, making them more environmentally friendly and cost-efficient. As a result, the market continues to evolve rapidly, with both domestic and international players making significant strides to meet the growing industrial demands.
The future outlook for the South Korea higher olefins market remains positive, with steady growth anticipated in key sectors such as automotive, consumer goods, and packaging. As industries continue to innovate and improve, the demand for higher olefins will likely increase, driving further development and expansion in this market.
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Altech Chemicals
Baikowski Pure Solutions
Shell
ExxonMobil
Sinopec
Dalian Hiland Photoelectric Material
Nippon Light Metal Holdings Company
Orbite Technologies
Rusal
Sasol
Sumitomo Chemical
Xuan Cheng Jing Rui New Material
Zibo Honghe Chemical
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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 Higher Olefins Market
Linear Olefins
Branched Olefins
Detergents
Polymerization
Lubricants
Plasticizers
Coatings
Fuel Additives
Surfactants
Automotive
Textile
Consumer Goods
Industrial
Construction
Steam Cracking
Fluidized Catalytic Cracking
Hydrocracking
Fischer-Tropsch Synthesis
C4 Olefins
C6 Olefins
C8 Olefins
C10 Olefins
C12 Olefins
C14 Olefins
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Higher Olefins 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 Higher Olefins Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Higher Olefins Market, By Type
6. South Korea Higher Olefins Market, By Application
7. South Korea Higher Olefins Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Higher Olefins Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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