04 December 2012 10:50 [Source: ICIS news]
SINGAPORE (ICIS)--China’s polyurethane (PU) industry can expect strong growth on the back of increasing requirement for building insulation panels in the country, an industry player said on Tuesday.
The industry will thrive amid a challenging global economy as more buildings are set to be constructed in China, said Jeff Varghese, market development manager at US-based speciality chemicals firm Stepan.
“This is really the dynamics driving the PU growth. With that comes a lot of support from government. If you consider the amount of building going on, there is a lot of opportunity,” he said at the ICIS Polyurethane Chain Conference in Singapore.
Concerns about the possibility of large-scale fires breaking out in major cities in China have been propelling demand for energy-efficient and anti-flammable PU end-products, he said.
“China came up and said you have to implement energy efficiency [processes]. A lot of people started moving into retrofit insulation. This really happened in the last two years ... the government sets the stage and everyone follows … flammability resistance is a major factor in the PU industry.
On challenges facing the industry, Varghese said stakeholders need to better coordinate to achieve uniformity in PU processes.
“[There is] a lack of coordination and uniform standards. The industry needs to work together and go down the value chain to start educating people.”
The inaugural ICIS Polyurethane Chain Conference ends on Wednesday.
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