South Korea Phenol Market Size, Share, and COVID-19 Impact Analysis, By End Use (Bisphenol A, Phenolic Resins, Caprolactam, Alkyl Phenyls, and Others), and South Korea Phenol Market Insights, Industry Trend, Forecasts to 2035

South Korea Phenol Market Insights Forecasts to 2035

• The South Korea Phenol Market Size was Estimated at USD 445.6 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.45% from 2025 to 2035
• The South Korea Phenol Market Size is Expected to Reach USD 719.7 Million by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Phenol Market Size is anticipated to reach USD 719.7 Million by 2035, growing at a CAGR of 4.45% from 2025 to 2035. The primary driver of the market's growth is the rising demand for this liquid, which supports the country's economic expansion and helps supply necessary materials for industries like pharmaceuticals, agrochemicals, and various specialty chemicals.

Market Overview

The phenol market in South Korea is the industry that produces, distributes, and uses phenol, a versatile chemical that is used to make polymers, resins, medicines, and agrochemicals. The main method for producing phenol is the cumene process, which turns benzene and propylene into cumene, which is then oxidized and hydrolyzed to form phenol. Industry demand, technical breakthroughs, and regulatory changes all influence the industry. Additionally, the phenol market in South Korea is an essential part of the nation's chemical sector, as evidenced by its use in a number of production procedures and applications. Furthermore, it is essential to the manufacturing of numerous chemical goods, greatly influencing the industrial landscape of the country. In addition, phenol benefits the local market because it is used as a vital raw material in the production of plastics, resins, and other chemicals needed for a variety of industries due to its moderately acidic and caustic character.

Report Coverage

This research report categorizes the market for the South Korea phenol market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea phenol market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea phenol market.

Driving Factors

South Korea's phenol production has changed throughout time, moving from antiquated synthetic techniques like benzene sulfonation and chlorination to more modern techniques. These days, cumene is usually made by converting benzene and propylene to cumene, then cumene hydroperoxide through oxidation, and ultimately phenol through hydrolysis. In addition to guaranteeing efficiency, the modern production technique takes sustainability and the environment into account. In addition, its status as a fundamental and adaptable chemical highlights its importance in the synthesis of many products, positioning the South Korean phenol market as a major force in the nation's industrial and chemical sectors in the years to come.

Restraining Factors

The phenol market in South Korea is greatly impacted by fluctuating raw material costs because benzene and propylene are necessary feedstocks for the synthesis of phenol. Geopolitical unpredictability, changes in the global supply and demand balance, and variations in crude oil prices all contribute to price volatility, which affects manufacturers' profit margins and creates unstable production costs.

Market Segmentation

The South Korea Phenol Market share is classified into end use.

• The bisphenol A segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea phenol market is segmented by end use into bisphenol A, phenolic resins, caprolactam, alkyl phenyls, and others. Among these, the bisphenol A segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. BPA is extensively utilized in the manufacturing of epoxy resins and polycarbonate polymers, which are necessary for use in the construction, automotive, and electronics sectors.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea phenol market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• LG Chem
• Lotte Chemical
• Hanwha TotalEnergies Petrochemical
• SK Innovation
• OCI Company Ltd
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Phenol Market based on the below-mentioned segments:

South Korea Phenol Market, By End Use

• Bisphenol A
• Phenolic Resins
• Caprolactam
• Alkyl Phenyls
• Others