The market is dominated by domestic suppliers, as imports account for 20.9% of total market size in 2020. B2B drives market demand, with B2B spending representing 79.4% of total demand in 2020. South Korea has the fourth largest market size for refined petroleum products in the region, with demand reaching USD85.4 billion in 2020. SK Innovation Co Ltd is the largest company in South Korea, generating 33.7% of the industry’s total production value in 2020. The industry is concentrated, with the top five companies generating 93.5% of total production value in 2020. The total number of companies decreases in 2020, to 443 units. The costs of the industry decrease by 19.8% in 2020, largely driven by declining B2B costs. The industry’s profitability increases and stands at 3.8% of production value in 2020, the 18th highest in the region. With production value of USD78.5 billion, South Korea accounts for 8.1% of the Asia Pacific total in 2020.
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This Euromonitor industrial report provides unique information on Refined Petroleum Products in South Korea: ISIC 232. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Refined Petroleum Products in South Korea: ISIC 232 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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