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Korea’s petrochemical industry has developed from domestic demand oriented to export-oriented since the early-1990s. Ultilising world-class technologies, the industry is producing a wide range of products from general-purpose items to specialised goods.

The Korean petrochemical industry in 2007 was the world’s 5th biggest based on ethylene capacity and the world’s 6th biggest based on export.

The following data gives an overview of Korea’s petrochemical industry

A) PRODUCTION AND TRADE OF PETROCHEMICALS IN RECENT YEARS (KOREA)

B) SUPPLY AND DEMAND FOR MAJOR PETROCHEMICAL PRODUCTS (KOREA)

C) DOMESTIC DEMAND FOR PETROCHEMICALS (KOREA)

D) CAPACITY OF MAJOR PETROLCHEMICALS (KOREA)

A) PRODUCTION AND TRADE OF PETROCHEMICALS IN RECENT YEARS (KOREA)                   PRODUCT   2004 2005 2006 2007 2008 2009 2010 P HDPE Production 1,889 2,011 1,965 1,981 2,073 2,180 2,226 Import 10 12 12 7 9 8 9 Export 1,083 1,204 1,139 1,127 1,204 1,345 1,380 PP Production 2,859 2,893 2,942 3,084 3,333 3,710 3,869 Import 14 14 15 18 24 21 21 Export 1,579 1,616 1,653 1,792 2,026 2,376 2,490 PVC Production 1,231 1,339 1,373 1,377 1,365 1,476 1,530 Import 21 51 48 26 28 32 32 Export 392 499 518 463 534 682 726 PS(GP/HI) Production 791 770 655 681 638 611 621 Import 8 15 27 32 30 28 28 Export 545 551 452 498 461 429 438 EPS Production 365 373 407 395 354 330 335 Import 1 4 7 3 3 5 5 Export 138 161 184 174 135 112 115 ABS Production 1,198 1,188 1,282 1,364 1,240 1,404 1,457 Import 5 5 6 6 7 6 6 Export 966 975 1,082 1,217 1,240 1,249 1,299 AN Production 457 490 513 492 442 545 552 Import 153 148 122 131 92 82 76 Export 139 205 244 184 145 172 163 Caprolactam Production 157 254 230 269 261 258 264 Import 117 57 54 40 23 28 27 Export 8 53 30 61 41 32 34 PTA Production 5,231 5,656 5,582 5,617 6,050 6,325 6,439 Import   4           Export 2,191 2,774 2,946 3,011 3,513 3,618 3,676 DMT Production 121 92 62 63 66 65 65 Import 1 1   1 1 2 2 Export 65 44 15 18 23 21 21 EG Production 878 900 885 875 1,073 1,177 1,206 Import 605 545 517 491 420 466 492 Export 210 205 285 245 405 526 562 SBR Production 274 293 325 396 490 527 547 Import 18 22 35 35 32 40 41 Export 144 164 200 266 309 323 333 BR Production 174 181 210 281 259 302 315 Import 12 12 13 11 23 23 23 Export 117 111 128 195 168 201 210 Carbon Black Production 474 467 477 505 489     Import 10 13 20 24 301     Export 103 76 91 98 86     Ethanol Production 25 29 23 18 17     Import               Export               Phenol Production 126 414 494 514 532     Import 97 46 4 9 34     Export 7 94 171 167 127     Acetone Production 79 196 300 325 331     Import 32 14 4 9 34     Export 4 81 148 165 115     2-Ethyl Hexanol Production 367 279 381 383 425     Import 75 73 51 39 22     Export 121 125 96 90 100     Butanol Production 80 87 84 95 77     Import 21 16 14 11 14     Export 18 28 20 18 22     Acetic Acid Production 401 422 461 459 428     Import 68 70 69 66 69     Export 78 81 123 100 74     Ethylene Production 5,955 6,131 6,157 6,827 7,071 7,380 7,490 Import 164 110 183 110 115 160 148 Export 308 316 270 721 762 659 626 Propylene Production 4,016 4,103 4,345 4,847 5,064 5,642 5,480 Import 235 336 274 249 218 249 200 Export 231 253 321 538 553 665 650 Butadiene Production 940 905 881 990 1,087 869 1,077 Import 78 68 116 139 213 291 300 Export 146 126 121 161 191 228 200 Benzene Production 3,486 3,642 3,851 4,221 4,107 4,174 4,180 Import 249 350 443 317 260     Export 1,082 1,209 1,247 1,194 1,258     Toluene Production 1,834 1,792 1,545 1,748 1,534 1,818 1,950 Import 573 531 338 271 223 203 150 Export 829 747 650 761 615 902 1,000 Xylene Production 2,107 2,269 2,450 2,673 2,206     Import 1,208 949 1,023 1,544 1,136     Export 413 603 945 1,403 1,007     O-Xylene Production 384 343 319 428 355     Import 27 67 80 40 31     Export 57 69 78 101 91     P-Xylene Production 3,980 3,975 4,320 4,338 4,127 4,103 4,200 Import 666 789 680 734 1,035 1,130 1,150 Export 1,044 1,088 1,303 1,272 1,130 1,154 1,200 EDC Production 626 542 570 603 629     Import 491 476 467 472 458     Export 94 40 97 101 95     VMC Production 1,488 1,498 1,607 1,535 1,508     Import   14 2 5       Export 184 153 141 156 101     SM Production 2,608 2,722 2,964 2,923 2,749 2,767 2,790 Import 375 498 448 616 518 759 770 Export 918 955 1,137 1,211 1,251 1,305 1,195 LDPE (L-LDPE, EVA) Production 1,660 1,713 1,729 1,823 1,773 2,087 2,141 Import 36 41 42 41 39 35 36 Export 755 822 803 771 790 1,031 1,063   [NOTE] 1.Production denotes actual 2.Import and export figures are based on statistics of “Statistical Yearbook of Foreign Trade” SOURCE: Petrochemical Industry in Korea 2009, Korea Petrochemical Industry Association back to top B) SUPPLY AND DEMAND FOR MAJOR PETROCHEMICAL PRODUCTS (KOREA)               UNIT: MT PRODUCT   2004 2005 2006 2007 2008 AAGR 04-08 Syn. resins 1) Production 9,993 10,287 10,354 10,354 10,775 1.9% Import 96 142 155 135 138 9.5% Export 5,458 5,828 5,831 6,041 6,243 3.4% Demand 4,630 4,601 4,678 4,799 4,670 0.2% Syn. fiber raw mat'ls 2) Production 6,845 7,393 7,272 7,317 7,892 3.6% Import 875 755 694 662 536 -11.5% Export 2,614 3,281 3,521 3,519 4,127 12.1% Demand 5,107 4,866 4,445 4,460 4,301 -4.2% Syn. rubbers 3) Production 448 474 535 677 749 13.7% Import 31 34 48 45 55 15.4% Export 262 276 327 461 477 16.2% Demand 218 232 256 262 327 10.6% Total Production 17,286 18,154 18,161 19,698 19,416 2.9% Import 1,002 931 897 842 729 -7.6% Export 8,335 9,384 9,679 10,020 10,847 6.8% Demand 9,955 9,700 9,379 9,521 9,298 -1.7%   [NOTE] 1) L(L)DPE, HDPE, PP, PS, ABS, PVC 2) AN,CPL, TPA/DMT, EG 3) Solid SBR, BR SOURCE: Petrochemical Industry in Korea 2009, Korea Petrochemical Industry Association back to top C) DOMESTIC DEMAND FOR PETROCHEMICALS (KOREA)             UNIT: MTA PRODUCT 2004 2005 2006 2007 2008 AAGR 04-08 Ethylene 3,883 3,933 3,933 4,088 3,929 0.3% Syn. Resins 4,630 4,606 4,6,78 4,799 4,670 0.2% Syn fiber raw mat'ls 5,107 4,860 4,444 4,460 4,301 -4.2% Syn. Rubbers 218 231 255 262 327 10.7%   [NOTE] Ethylene demand is based on the potential requirement for the domestic demand of its derivatives SOURCE: Petrochemical Industry in Korea 2009, Korea Petrochemical Industry Association back to top D) CAPACITY OF MAJOR PETROLCHEMICALS (KOREA) [As of April,2009]   UNIT: MTA PRODUCT EXIST New/Exp Total BASIC PETROCHEMICAL          Ethylene 7,340 - 7,340    Propylene 5,389  - 5,389    Butadiene 1,107  - 1,107    Benzene 4030  - 4,030    Toluene 1,810  - 1,810    Xylenes 2,889  - 2,889         INTERMEDIATES          Ortho-Xylenes 410  - 410    Para-Xylenes 4,150  - 4,150    Cyclohexane 280  - 280    SM 3,314  - 3,314    EDC 911  - 911    VCM 1,497  - 1,497    PO 180  - 180    EO 510  - 510    Normal Paraffin 210 - 212         SYNTHETIC RESINS          LDPE 899 -  899    L-LDPE 1,010 -  1010    HDPE 2,175 -  2,175    PP 3,738 - 3,738    PS(GP.HI) 818 -  818    EPS 464 -  464    ABS 1,520 -  1,520    PVC 1,380 -  1,380         SYNTHETIC FIBER RAW MAT'ILS          AN 550 -  550    Caprolactam 240 -  240    PTA 6,380 -  6,380    DMT 80 -  80    EG 1,307 - 1,307         SYNTHETIC RUBBERS          SBR 616  - 616    SB-Latex 223  - 223    BR 322  - 322    NBR 80  - 80    HSR 10  - 10    EPR 120  - 120         OTHERS          Acrylic Acid/Ester 230  - 230    Alkyl Benzene 178  - 178    Carbon Black 550  - 550    Ethanol 60  - 60    Acetaldehyde 30  - 30    Ethyl Acetate 75  - 75    Acetic Acid 477  - 477    PA 400  - 400    MA 74  - 74    PPG 377  - 377    TDI 283  - 283    MDI 345  - 345    PG 75  - 75    Petroleum Resin 90  - 90    Phenol 650  - 650    Cumene 670  - 670    Acetone 405  - 405    Bisphenol-A 610  - 610    2-Ethyl Hexanol 367  - 367    Butanol 60  - 60    MMA 226  - 226           SOURCE: Petrochemical Industry in Korea 2009, Korea Petrochemical Industry Association back to top