10 May 2013 00:00 [Source: ICIS news]
TAIPEI (ICIS)--South Korea’s phenol demand is projected to grow at 12% year on year in 2013, driven by demand from the key downstream bisphenol A (BPA) sector, the country’s petrochemical association said.
Phenol demand is estimated at 899,000 tonnes/year in 2013, Korean Petrochemical Industry Association (KPIA) said in a report for the annual Asian Petrochemical Industry Conference (APIC).
Phenol demand rose by around 4.5% in 2012, KPIA said.
Meanwhile, domestic phenol production is projected to surge by 42% to hit 916,000 tonnes/year in 2013 following capacity expansions in the country, KPIA said.
Phenol export is estimated to increase by 25% to reach 125,000 tonnes/year in 2013 given the sharp increase in domestic supply, KPIA said.
APIC 2013 is taking place in Taiwan’s capital Taipei on 9-10 May.
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