Honam Petrochemical Corporation SWOT Analysis, Competitors & USP

Published by MBA Skool Team, Last Updated: April 12, 2020

SWOT analysis of Honam Petrochemical Corporation analyses the brand by its strengths, weaknesses, opportunities & threats. In Honam Petrochemical Corporation SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.

SWOT Analysis is a proven management framework which enables a brand like Honam Petrochemical Corporation to benchmark its business & performance as compared to the competitors. Honam Petrochemical Corporation is one of the leading brands in the industrial products and chemicals sector.

The table below lists the Honam Petrochemical Corporation SWOT (Strengths, Weaknesses, Opportunities, Threats), top Honam Petrochemical Corporation competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).

Honam Petrochemical Corporation SWOT Analysis, Competitors, Segmentation, Target Market, Positioning, USP & Brand Analysis Table
Honam Petrochemical Corporation Brand Analysis
Parent Company

Lotte Group

Category

Petrochemicals

Sector

Industrial Products and Chemicals

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.

Honam Petrochemical Corporation 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 of Honam Petrochemical Corporation
Honam Petrochemical Corporation Strengths

Below are the Strengths in the SWOT Analysis of Honam Petrochemical Corporation:

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.

Honam Petrochemical Corporation Weaknesses

Here are the weaknesses in the Honam Petrochemical Corporation SWOT Analysis:

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

Honam Petrochemical Corporation Opportunities

Following are the Opportunities in Honam Petrochemical Corporation SWOT Analysis:

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.

Honam Petrochemical Corporation Threats

The threats in the SWOT Analysis of Honam Petrochemical Corporation are as mentioned:

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.

Honam Petrochemical Corporation Competition
Honam Petrochemical Corporation Competitors

Below are the top 3 competitors of Honam Petrochemical Corporation:

1. BASF SE
2.Braskem
3. Linde AG


This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to Honam Petrochemical Corporation. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.

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