Economic openness has been generally viewed as beneficial whether in terms of welfare or efficiency gains. While literature has incorporated that trade liberalization causes productivity growth, market structure has taken a prominent role in the analysis recently. This paper determines how it affects the adjustment responses of the firms. In particular, it establishes the market structure of the industry based on the firm’s behavior and describes the environment within which the industry operates. It also examines the performance, efficiency and competitiveness of the industry to determine the extent of the policy influence and structural factors.