Chemicals, Pharmaceuticals & Plastics

The groundwork for South Korea's fine and specialty chemicals industry was laid by the adoption of technology form developed countries in the 1970s.
The fine chemicals sector-including pharmaceuticals, agricultural chemicals, dyes, pigments, paints, perfumes, surfactants, and catalysts grew out of the fertilizer industry in the late 1970s. Over the past 30 years, the fine chemicals industry has grown, replacing imports with domestic production of pharmaceuticals, dyes, and paints to fulfill domestic demands rather than focusing on developing raw materials and intermediates for high-value-added products that would require long-term and risky investments.
Between the 1960s and 1990s, the South Korean chemical industry grew at an average annual rate of 7-8%; from 2000 to 2015, the growth rate accelerated to and annual rate of 12% due to increased production of value-added products. In particular, The production of dyes, paints, pigments, and surfactants increased, and these products are now competitive in the world market. And, with South Korean biopharmaceuticals, cosmetics, and surfactants espected to grow ant and annual rate of 14-15%, the country will soon claim a 3% share of the world market for fine chemicals.

Kompass Business Directory
With over 3,900 South Korean companies registered in the Kompass B2B worldwide database, the Chemicals, Pharmaceuticals & Plastics represents on of the largest activity sectors within our database. This family includes Chemicals, Pharmaceuticals & Plastics industry including aids, gases, cosmetics, fertilisers, etc.
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Chemicals, Pharmaceuticals & Plastics

South Korea

4096 
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