17 May 2012 04:49 [Source: ICIS news]
KUALA LUMPUR (ICIS)--?xml:namespace>
“China's huge population base, with a rapidly growing ecoomy and middle class, results in a large appetite for chemicals, plastics, and synthetic fibres, both to support exports of finished goods, but also for consumption of finished goods,” according to an IHS Chemical presentation at the Asia Petrochemical Industry Conference (APIC) in Kuala Lumpur, Malaysia.
At least 11 coal-to-olefin projects are scheduled to come on line in China over the next five years, boosting the country's overall olefins capacity by about 7m tonnes, according to Steve Zinger, senior director of product management at IHS Chemical.
Zinger said that chemical companies in Asia will have to focus on rapid demand and investment growth in
Regional firms will also need to keep a low-cost profile via integration with upstream refining operations, “which is particularly important if exporting or selling into commodity markets”, he said.
They will also have to protect their revenues through product portfolio upgrades into specialty or value-added commodities, Zinger added.
APIC runs from 17-18 May.
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