SK Petrochemicals: Understanding the Market Dominator In a time where more innovative, and eco conscious manufacturing processes are being favored by consumer opinion, SK Petrochemicals is at the top of the market in regards to the industry the company is in. SK Petrochemicals is a South Korean company that works in the field of manufacturing various plastics and chemicals used as adhesives in the manufacturing of various other products like fibers and sheets. The company uses fascinating innovation in its production process, which ultimately results in better quality products with less of a carbon footprint. SK Petrochemicals uses raw PTA "for PET synthesis via direct etherification with EG and is an important intermediate for film, fiber, and bottles" (SK Petrochemicals, 2013). The company started using this innovative production process in 1989 and has been growing in its production capacity ever...

Profits from the first quarter of 2013 show a 28.5% increase over last year's numbers for the same fiscal period. According to the research, "the increase in operating profit was due to favorable marketing conditions resulting in higher product spreads" (Lee, 2013). Clearly, the market is prime for SK Petrochemical's products and services, as trends in the consumer market continue to evolve towards a more eco-friendly sense of consciousness. The "product spread is expected to be favorable because of tight supply and demand balance within the aromatic category, along with the impact of the regional maintenance season" (Lee, 2013). This then provides a very lucrative future position for the already successful company.
There are a number of reasons why SK Petrochemicals holds…