07 February 2012 08:50 [Source: ICIS news]
By Ong Sheau Ling
SINGAPORE (ICIS)--Global chemical major BASF expects Asia’s consumption of compounded engineering plastics to increase by 32% in four years’ time to 1.45m tonnes, backed by the region’s growing population, improving infrastructure and stable economic growth, a senior company official said on Tuesday.
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By 2015, consumption is estimated to hit 803,000 tonnes/year in
“In the next 10 years, PA [polyamide] and PBT compounds [consumption in
In 2011, the Asian consumption of polyamide and PBT compounds breached the 1m-tonne mark, with
Postlethwaite said that the automotive sector is expected to remain the key demand driver for engineering plastics, citing
BASF is upbeat on the growth prospects of the South Asian country’s demand for engineering plastics in the long term, given that its consumption of compounded polyamide at 6-7 kg/car in 2010, was just half of
“Western and Japan OEMs [original equipment manufacturers] are putting large investments in
Compounded polyamide is now used in cars as engine mount, structural inserts, concept seat, cross beam, oil pan, lower bumper stiffener and front-end carrier.
BASF and South Korean car manufacturer Hyundai Motor Group are collaborating to come up with a car model made up of 50% engineering plastics.
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