APIC ’12: Renewable chemicals a major opportunity for Asia

17 May 2012 06:06  [Source: ICIS news]

KUALA LUMPUR (ICIS)--The renewable chemicals industry presents a major opportunity of investment for Asia, Mark Morgan, global managing director for renewable chemicals at information provider IHS Chemical, said on Thursday.

The last few years have seen a rapid acceleration in the development of renewable chemical technologies, which Asia can take advantage of, he added.

Morgan said the total global market for renewable chemicals was estimated around $40bn in 2011, adding that by volume, Asia accounts for around 51% of demand.

Over the next 10 years, he said that there could be over $40bn of new investment in renewable chemicals.

Many of the commercialisation issues in the industry are being overcome and competiveness is improving, he added.

Morgan was speaking at the 34th annual Asia Petrochemicals Industry Conference (APIC) being held in Kuala Lumpur on 17-18 May.

By: Franco Capaldo
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