Samjong KPMG "Positive Outlook for Semiconductors, Petrochemicals, and Game Media Next Year"

[Asia Economy Reporter Park Jihwan] Next year, industries such as semiconductors, petroleum & chemicals, and games & media are expected to be growth sectors among major domestic industries.

On the 28th, Samjong KPMG presented forecasts and response strategies for 21 major domestic industries including semiconductors, petroleum & chemicals, games, displays, mobile phones, and automobiles in its '2021 Domestic Major Industry Outlook' report.

The report cited data from the World Semiconductor Trade Statistics (WSTS), forecasting growth in sales across all semiconductor products. In particular, memory semiconductors are expected to maintain the highest growth rate among semiconductor product groups, with sales increasing by 13.3% next year following a 12.2% growth this year.

Samjong KPMG emphasized, "In line with the semiconductor industry growth outlook, related companies should expand production of items with predicted demand increases and strengthen the industry ecosystem through enhancing competitiveness in semiconductor materials, parts, and equipment (SoBuJang) and stabilizing the value chain."

The petroleum & chemical industry is expected to see increased global demand centered on transportation petroleum products. The report also forecasts rising competitiveness in NCC (Naphtha Cracking Center) pricing and increased global battery demand due to the expansion of electric vehicles. Petroleum & chemical companies are advised to diversify their NCC product portfolios and consider expanding overseas battery production bases.

The game market is expected to continue steady growth this year and next, driven by an increase in users and overseas exports. The report also anticipates many positive factors in the media market, including OTT (online video services), webtoons & web novels, and drama production, due to increased recognition of K-content.

The report forecasts that 11 industries next year?including display, mobile phones, automobiles, pharmaceuticals & bio, distribution, energy & utilities, telecommunications & broadcasting, food & beverage, fashion, cosmetics, and securities?will be 'partially positive.' Conversely, seven industries?steel, shipbuilding & shipping, construction, aviation, banking, life insurance, and non-life insurance?are expected to have a 'partially negative' outlook.

Samjong KPMG Economic Research Institute stated, "In the post-COVID-19 era that will fully open in 2021, it is necessary to seek ways to improve organizational resilience to proactively respond to environmental changes," adding, "Strategies should be systematized to accelerate the digital economy, and customer experience strategies should be reestablished according to changing consumption patterns."

This content was produced with the assistance of AI translation services.