DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/95e2b0/south_korea_petroc) has announced the addition of the "South Korea Petrochemicals Report 2012" report to their offering.
Developments in the South Korean petrochemicals industry are intended to serve the automotive and electronics sector, but a slowdown in Asian and European markets will undermine profitability over 2012 as demand for cars and consumer goods slows to a crawl, according to BMI's latest South Korea Petrochemicals Report.
In terms of basic chemicals, Honam Petrochemical will lead expansion over the medium term with growth at its Yeosu complex, where capacities are set to rise by 250,000tpa ethylene, 120,000tpa propylene, 250,000tpa HDPE and 200,000tpa PP in 2013. Growth in the automotive and electronics industries in South Korea and elsewhere in Asia is prompting a significant growth in synthetic rubbers with Kumho Petrochemical planning to opening new facilities at Yeosu, which are due to come online in 2014 with capacities of 60,000tpa styrene butadiene rubber, 150,000tpa bisphenol-A, 60,000tpa ethylene propylene diene monomer (EPDM) rubber and 50,000tpa methylene di-para-phenylene isocynate (MDI).
BASF is also planning to raise capacity for MDI at its Yeosu site. The expansion by 60,000tpa to 250,000tpa is scheduled for completion in Q212. At the same time, it is due to complete a 198,000tpa film-grade PET facility at Jincheon.
Polysilicon, used for electronics and solar cells, is also set to become a growth driver, prompting OCI to expand its third polysilicon plant by 7,000tpa in December and two new plants coming onstream in Q412 and Q413 with capacities of 20,000tpa and 24,000tpa respectively. Daesan MMA is increasing its MMA capacity by 98,000tpa to 188,000tpa from Q113 and expanding its acrylic resin pellet production capacity by 60,000tpa to 110,000tpa from Q412.
Companies Mentioned:
- Honam Petrochemical Corporation
- LG Chem
- SK Group
- Samsung Total Petrochemicals
- Korea Petrochemicals Industrial Company
- GS Caltex (LG Caltex)
For more information visit http://www.researchandmarkets.com/research/95e2b0/south_korea_petroc