19 November 2009 17:19 [Source: ICIS news]
Correction: In the ICIS news story headlined “Global PC growth will be double Asia's GDP rate - Bayer” dated 19 November 2009, please read in the headline … will be double GDP rate … instead of … double Asia's GDP rate…. Please read in the first paragraph … will grow at 5-6% annually … instead of … at double the rate of ?xml:namespace>
By Fanny Zhang
GUANGZHOU (ICIS news)--The global polycarbonate (PC) industry will grow at 5-6% annually, with China being the growth engine, a company executive at Bayer MaterialScience said on Thursday.
“We expect that polycarbonate as a material will grow at double-GDP rate and the growth will be again substantially driven by Asia Pacific and more specifically, China,” said Dr Gunter Hilken, global head of Bayer’s polycarbonates business, speaking on the sidelines of the company’s inauguration ceremony of its colour competence and design centre (CCDC) in Guangzhou, south China.
“Polycarbonate applications for CDs and DVDs have been shrinking, but those in IT and electronics areas have seen continuous growth,” Hilken said.
Bayer has two PC lines, each with a 100,000 tonnes/year capacity, in Caojing,
“We are operating the two lines alongside, with demand of the market base. Due to the global economic situation, Bayer made a decision earlier in the year to mothball one third of its entire 1.3m tonne/year PC capacity.
"At the current state, demand has not improved much and we are mothballing 200,000 tonne/year of total capacity,” Hilken said.
The CCDC provides tailored products and solutions for polycarbonate compounds, ranging from colour matching and small-scale production, to the broad range of technical services to support injection-molding and compounding processes, the company said in a press release.
Hilken said the facility was part of Bayer’s vision to move the PC businesses further downstream – right into the growth markets and closer to local customers.
He added that there was a 20,000 tonne/year PC plant at the same site to support the centre which Bayer would operate in line with market demand.
Worldwide, Bayer has other CCDC facilities in the
Bayer MaterialScience is expected to see year on year of growth in its PC business in the fourth quarter of 2009. Its PC business unit posted a year-on-year decline of 28% for the first three quarters, but that decline slowed to 18% in the third quarter, he said.
To discuss issues facing the chemical industry visit ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections