US-based Ascend forecasts strong growth in Asian nylon markets

18 May 2011 04:09  [Source: ICIS news]

GUANGZHOU (ICIS)--Ascend Performance Materials will continue to focus on the global plastics market and the development of its nylon 6,6 (or polyamide 6,6) products, a company official said at a press conference during the 2011 Chinaplas exhibition.

“We serve a globally diverse customer base from our world-scale integrated manufacturing facilities and we will continue to invest to meet the needs of a growing market,” said Tim Strehl, president of Ascend.

Demand is especially strong in Asia and China, with sectors such as automotive, electronics and electric products growing quickly in the China market, said Scott Rook, vice president for Ascend’s plastics business.

“The company’s plastics sales in the Asian market account for 50% of its total plastics sales in the world,” Rook said.

“We expect a growth rate of 6-8% per year in the next five years in the Asian nylon markets,” Rook added.

Ascend produces nylon resins and fibres for commercial and industrial products. The company is headquartered in Houston, Texas.

The 2011 Chinaplas exhibition is held from 17-20 May in Guangzhou.

Additional reporting by Dolly Wu

By: Amy Yu

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