Falling crude oil and naphtha prices since 2014 have raised the profitability of petrochemical products such as ethylene, thus increasing momentum for the construction of new facilities in Asia. Liquefied petroleum gas (LPG) cracking furnaces are a part of this trend as manufacturers make effective use of the cost advantage of LPG in the wake...
South Korea
Plans for New LPG Cracking Furnaces Multiply in China, South Korea – Part 1
Plans to build new liquefied petroleum gas (LPG) cracking furnaces to produce ethylene — a key building block in the manufacturing of petrochemicals — are proliferating in China and South Korea. By 2020, capacity to produce ethylene from propane is expected to reach 600,000 tons per year in South Korea and 1.5 million tons per...
Korean Government Encourages Industrial Restructuring Amid Petrochemical Oversupply
A structural reform of the petrochemical industry in South Korea is on the horizon. In addition to encouraging voluntary adjustments to production capacity, the South Korean government is placing emphasis on high-performance products such as synthetic resins and synthetic rubber, and is planning to promote industrial upgrades to the existing petrochemical hubs that are Ulsan,...
With Increased Investment Activity, European Chemical Companies Show Keen Interest in Korea
European chemical companies are showing increased investment activity in South Korea. Germany’s BASF SE has decided to add new production equipment for polyarylsulfone in Yeosu, while Belgium’s Solvay SA is building a new plant for manufacturing highly dispersible silica in the new Saemangeum Industrial Park. In R&D, French chemical company Arkema has established a new...
Anti-dumping Duties on Korean, Chinese Potassium Hydroxide Push Down Imports to Japan
Japanese imports of potassium hydroxide, an ingredient used in products such as fertilizers and agrochemicals, have followed a period of growth with a steep, sudden drop-off. This comes on the back of an imposition of provisional anti-dumping duties on South Korean and Chinese potassium hydroxide since April. With the exception of 2012, which was hampered...
