19 April 2010 14:57 [Source: ICIS news]
SHANGHAI (ICIS news)--Rhodia expects China’s demand for polyamide to grow by 20% this year and very strongly in the longer term on the back of a robust automobile market, a senior executive from the French producer said on Monday.
“You can see it has a large automobile market, and many people have cars now. The 20% growth prospect is good, and it will also remain very strong in the longer term."
Edmund Yap, vice president of Rhodia’s Asia Pacific polyamide operations, said: "There is a strong automobile market -
By 2015, Asia would become the largest nylon 6,6 market in the world, accounting for more than half of the global market share,
In order to support the growth in Asia, Rhodia planned to expand its Asia polyamide capacity by 40-60% in the next few years, Laganier said.
Polyamide is a type of engineering plastic widely used in the chemical, automobile and machinery sectors.
Chinaplas is projected to draw 75,000 visitors from 130 countries.
The event runs on 19-22 April in Shanghai.
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