The chemicals manufacturing industry in South Korea saw various fluctuations over the past decade. In 2015, the industry added value stood at 38.09 Trillion South Korean Wons. By 2023, it reached 39.116 Trillion Wons, reflecting incremental growth. Notably, there were dips, such as in 2019 with a 5.38% decline and 2020 with a significant 15.39% drop. A recovery followed, with a 14.54% increase in 2021, and stabilization continued with minimal year-on-year variations of 5.34% in 2022 and 0.07% in 2023. The five-year CAGR from 2018 to 2023 is 0.54%, indicating steady if modest growth.
Looking forward to 2028, the value is predicted to reach approximately 39.143 Trillion Wons, with a forecasted five-year CAGR of 0.07%, suggesting a stable yet slow growth trajectory. Key trends to watch include the impact of technological advancements, shifts in global demand, sustainability initiatives, and potential regulatory changes affecting the chemicals manufacturing industry.
