South Korea Textile Chemicals Market Size & Outlook
South Korea textile chemicals market, 2018-2030 (US$M)
Related Markets
South Korea textile chemicals market highlights
- The South Korea textile chemicals market generated a revenue of USD 402.5 million in 2022 and is expected to reach USD 615.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.5% from 2023 to 2030.
- In terms of segment, synthetic was the largest revenue generating nature in 2022.
- Natural is the most lucrative nature segment registering the fastest growth during the forecast period.
Textile chemicals market data book summary
| Market revenue in 2022 | USD 402.5 million |
| Market revenue in 2030 | USD 615.5 million |
| Growth rate | 5.5% (CAGR from 2022 to 2030) |
| Largest segment | Synthetic |
| Fastest growing segment | Natural |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Natural, Synthetic |
| Key market players worldwide | OMV AG, Basf SE, Shell PLC, Lanxess AG, Dow Inc, Huntsman Corp, Kemira Oyj, The Lubrizol Corp, Petronas Chemicals Group Bhd, Evonik Industries AG, Solvay SA |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global textile chemicals market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China textile chemicals market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,349.1 million by 2030.
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Textile Chemicals Market Scope
Textile Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea textile chemicals market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to textile chemicals market will help companies and investors design strategic landscapes.
Synthetic was the largest segment with a revenue share of 61.86% in 2022. Horizon Databook has segmented the South Korea textile chemicals market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has witnessed significant economic growth, along with substantial poverty reduction. According to the World Bank, the GDP of the country stood at USD 1.65 trillion in 2019. However, the spread of the COVID-19 has taken a toll on the economic growth of South Korea. According to the IMF, the GDP of the country declined by 0.9% in 2020.
It is expected to grow by 4.3% and 3.3% in 2021 and 2022, respectively. Textile manufacturers in South Korea are making efforts to utilize the petrochemical production power of the country and develop value-added products.
The Free Trade Agreement among China, Japan, and South Korea is expected to reduce tariffs on textiles reducing the logistical costs. This is anticipated to provide a strong impetus to textile manufacturers of South Korea, thereby increasing demand for textile chemicals in the country.
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Target buyers of South Korea textile chemicals market databook
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Our clientele includes a mix of textile chemicals market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea textile chemicals market , including forecasts for subscribers. This country databook contains high-level insights into South Korea textile chemicals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea textile chemicals market size, by nature, 2018-2030 (US$M)
South Korea Textile Chemicals Market Outlook Share, 2022 & 2030 (US$M)
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