22 May 2012 15:55 [Source: ICIS news]
LISBON (ICIS)--Asia offers significant opportunities for growth in chemical distribution and will develop along western lines in the future, an industry executive said on Tuesday.
David Brown, director of information and marketing outsourcing company Chemagility, said the Chinese distribution sector is very focused on price and does not yet appreciate the value a third-party can provide.
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Since the earthquake and tsunami last year, some Japanese companies have started to realise that they need to source from a much wider supply base, Brown added at the the European Association of Chemical Distributors (FECC)'s annual congress.
Other countries he highlighted that offered promising growth in the future were
According to Brown, the global chemical distribution market was worth €117bn ($150bn) in 2010, with a compound annual growth rate of 4.4% since 2006.
The FECC annual congress ends on Wednesday.
($1 = €0.78)
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