24 May 2011 05:14 [Source: ICIS news]
By Tahir Ikram
“In view of the economic fundamentals, steady growth [of the petrochemical industry] is expected for 2011 and 2012, owing to strong demand from the emerging economies,” chairman of Japan Petrochemical Industry Association (JPCA), Kyohei Takahashi, told ICIS via email.
China, the world’s second biggest economy, together with India – a fast-emerging market where, industry sources say, even basic polymers are growing at double-digit percentage rates – are both considered to be the main engines of growth in Asia with high demand for petrochemicals.
Takahashi, who is also the representative director and chairman of the board at Japanese chemical company, Showa Denko K.K., was speaking ahead of the region’s biggest industry event – the Asia Petrochemical Industry Conference (APIC) 2011, which will be held at
“The most significant challenge currently facing the Asian petrochemical industry, in my view, is to secure sustainable growth with conserving energy and other natural resources as well as protecting the environment,” Takahashi said.
“Given surging energy and feedstock prices or increasing costs associated with CO2 (carbon dioxide) and other emissions, it will make a big difference in competitiveness between companies, with or without solutions to these challenges,” he added.
Environmental issues and carbon footprints were key concerns at APIC 2010, which was held at Mumbai in
Takahashi said the region’s petrochemical industry contributed significantly to improving the quality of life by providing more convenient, comfortable and hygienic products and solutions.
“However, it is faced with challenges like energy conservation and environmental protection. It is very important that the members of APIC work in unity, not only to respond to growing demand in the region, but also to tackle these challenges,” he added.
About 1,300 people have confirmed their attendance for APIC 2011, almost equal to the attendance at APIC 2010.
Takahashi said he thought the earthquake and tsunami that hit northeastern
Some 28,000 people are dead or missing following the two natural disasters that hit
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