H1 2023: The two main products in the South Korea ethanol derivatives market were ethyl acetate and acetaldehyde. Prices for ethyl acetate in the South Korean market increased rapidly in the first three months of 2023. Prices surged dramatically as the market players replenished their stocks in the country. The improvement in consumer demand and the rise in the cost of the raw material acetic acid in South Korea were major factors that affected the price of ethyl acetate. During these months, ethyl acetate from China was exported by South Korea at high price and tight supply chain issues. However, as ethyl acetate prices fell in the Chinese market starting in April 2023, prices of Ethyl acetate also declined in South Korea. Because of weak demand from the downstream industries of South Korea, the market behaved in a bearish pattern. The downtrend of the prices was further aided by the low cost of the feedstock acetic acid. Additionally, there were sufficient market inventory levels to meet the demand of South Korea's downstream paints & coatings industries. On the other hand, acetaldehyde market also displayed fluctuations in South Korea throughout H1 2023 due to change in supply-demand dynamics. The demand for acetaldehyde by food preservative downstream industry of the South Korean market flickered.
The South Korea Ethanol Derivatives market has reached approximately 160 thousand tonnes in 2022 and is expected to grow at an impressive CAGR of 4.07% during the forecast period until 2030.
The market for ethanol derivatives is enormous and consists of many chemical products divided into many groups according to their uses and characteristics. The two main compounds that fall into the category of ethanol derivatives are ethyl acetate and acetaldehyde. Ethyl Acetate is released during the production of synthetic leather and silk, as well as during the making of photographic plates and films. Ethyl acetate works as an excellent solvent in base coats, nail polish remover, nail polish, and other items like nitrocellulose, dry cleaning, stains, lacquers, varnishes, and other materials, ethyl acetate serves as a solvent. The oxidation of ethanol leads to acetaldehyde as the product. Acetaldehyde serves as an intermediate in the manufacture of insecticides, fragrances, drugs, and dyes. The demand for ethanol derivatives is predicted to rise during the forecast period due to an increase in the need for these derivatives as raw materials across a variety of end-user sectors, like Paints, Coating & Adhesives, Personal Care and Cosmetics, and the Pharmaceutical sector. Although, the demand for paints & coatings consumption is far less by the construction sector, and majorly consumed for automobile coatings. Marine coatings for manufacturing large ships also contribute to the market. The South Korea Ethanol Derivatives market will most likely reach 220 thousand tonnes by 2030.
Based on region, the South Korea Ethanol Derivatives market is segregated into Northern South Korea, Central South Korea, and Southern South Korea. Northern South Korea is the leading consumer of derivatives followed by Southern South Korea. In 2022, Northern South Korea consumed more than 40% of the market.
Based on the end-user industry, the South Korea Ethanol Derivatives market is segregated into Paints, Coating & Adhesives, Personal Care and Cosmetics, Pharmaceutical, and Others. Although, the Paints, Coating & Adhesive industry is the major consumer of the Ethanol Derivatives market in South Korea and consumed approximately 45% of the market in the year 2022.
There is only one player in the South Korea Ethanol Derivatives market which is Korea Alcohol. Major players in Global Ethanol Derivatives market are Celanese Corporation, Jiangmen Handsome, Jiangsu Jinmaoyuan, India Glycols Limited, Jubliant Lifesciences, Jiangu Sopo, Laxmi Organic Industies Ltd, Anhui Huayi, and Braskem.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Ethanol Derivatives which covers production, demand and supply of Ethanol Derivatives market in the globe.
• To analyse and forecast the market size of Ethanol Derivatives
• To classify and forecast South Korea Ethanol Derivatives market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Ethanol Derivatives market in the globe.
To extract data for South Korea Ethanol Derivatives market, primary research surveys were conducted with Ethanol Derivatives manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for South Korea Ethanol Derivatives market over the coming years.
ChemAnalyst calculated Ethanol Derivatives demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Ethanol Derivatives across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Ethanol Derivatives manufacturers and other stakeholders
• Organizations, forums and alliances related to Ethanol Derivatives distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ethanol Derivatives manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, South Korea Ethanol Derivatives market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
160 thousand tonnes
Market size Volume by 2030
220 thousand tonnes
Growth Rate
CAGR of 4.07% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Paints, Coating & Adhesives, Personal Care and Cosmetics, Pharmaceutical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Northern South Korea, Central South Korea, and Southern South Korea
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Ethanol Derivatives market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Ethanol Derivatives.
3. Capacity By Location
To better understand the regional supply of Ethanol Derivatives by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Ethanol Derivatives by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Paints, Coating & Adhesives, Personal Care and Cosmetics, Pharmaceutical, and Others) are creating a market and the forecast for the growth of the Ethanol Derivatives market.
7. Demand by Region
Analyzing the change in demand of Ethanol Derivatives in different regions, i.e., Northern South Korea, Central South Korea, and Southern South Korea, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Ethanol Derivatives. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Ethanol Derivatives.
10. Manufacturing Process
Discover insights into the intricate manufacturing process of Ethanol Derivatives.
11. Policy and Regulatory Landscape
Gain a comprehensive understanding of the policy and regulatory landscape within the Ethanol Derivatives market.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected South Korea market size of Ethanol Derivatives in terms of volume for 2030?
Ans:
The South Korea market size of Ethanol Derivatives is anticipated to project an expansion and reach approximately 220 thousand tonnes by 2030, with an expected CAGR of 4.07%.
Q2.
Which end-use industry is dominating the South Korea Ethanol Derivatives market?
Ans:
The Paints, Coating & Adhesives industry is dominating the South Korea Ethanol Derivatives market with a market share of 45% in 2022.
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