22 June 2010 13:03 [Source: ICIS news]
LONDON (ICIS news)--BASF is planning major further investment in plastics as it expects global demand to grow at around 5% per year until 2015 due to “megatrends” like urbanisation, globalisation, growing energy demand and climate protection measures, it said on Tuesday.
These trends are all associated with industries such as energy, energy efficiency, construction and housing in which plastics are playing an increasing role, the German chemicals major said.
“Plastics are nowadays indispensable when it comes to finding solutions to the major issues of the future. And this means new business opportunities for BASF,” said Martin Brudermuller, member of the company board responsible for plastics and Asia Pacific.
The fastest growth was expected in Asia, where the consumption of plastics has been higher than that of Europe and ?xml:namespace>
Hence BASF would focus on
To meet growing demand for specialty plastics, BASF was also expanding biodegradable plastics capacity at its
Plastic helps cut CO2 emissions, not only through applications such as building insulation, but also because less energy is needed for its manufacturing and processing than for other materials, Brudermuller said.
When used in the manufacturing of car components, plastics also reduce the weight of vehicles, thereby helping to cut fossil fuel consumption further, he added.
The percentage of plastics in an average car in w
“There is obviously a great potential in
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