Honam Petrochemical Corporation SWOT Analysis, USP & Competitors

Posted in Industrial Products and Chemicals, Total Reads: 2636
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SWOT Analysis of Honam Petrochemical Corporation with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Honam Petrochemical Corporation

Parent Company

Lotte Group

Category

Petrochemicals

Sector

Industrial Products

Tagline/ Slogan

Supports your high living standard with supreme products and services

USP

Presence in plastics, synthetics as well as petrochemicals covering the entire Korean belt.

STP

Segment

Businesses and customers who demand improved performance and better quality

Target Group

Customers and businesses requiring basic chemicals and synthetic plastics as feedstock and domestic products.

Positioning

A leader in creating an affluent future

SWOT Analysis

Strengths

1. Market leader in Korea under the heavy chemical industry category.
2. Won the award for extensive research in R&D and innovative methods of manufacturing petrochemicals
3. A very broad and diverse range of products ranging from plastics and synthetics to basic chemicals.
4. World class plant sites in Yeosu Petrochemical Complex with extensive focus on R&D in areas like processing, specialty, chemicals and the environment.

Weaknesses

1. Limited market share in the Asian region, with many players and scattered geographic reach.
2. Financial position of the company heavily dependent on Korea

Opportunities

1.Joint ventures with Mitsubishi Rayon Co. and ExxonMobil can create better trade networks and create an inflow of foreign exchange.
2. Business expansions  in the South Korean region and the Taiwan complex can create new markets for the company.
3. There are tremendous opportunities in emerging markets like India and China.

Threats

1. Intense competition from several petrochemical giants in other regions.
2.M&A holds risk of inefficient integration, especially with players who are well established as petrochemical companies.

Competition

Competitors

1. BASF SE
2.Braskem
3. Linde AG



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