07 March 2013 17:08 [Source: ICIS news]
VCI said that specialty chemicals' share in overall German chemical production would rise to 46.6% by 2030, up from 43.3% in 2011.
Meanwhile, the share of basic chemical production would fall to 33.9% by 2030, from 37.2% in 2011, the group said, citing results of a study it conducted in cooperation with research firm Prognos.
VCI general manager Utz Tillmann said that
The trend is driven by increased “chemical-intensity” in the car and other manufacturing sectors, which boosts demand for high-value research-based specialty chemicals in industrial as well as emerging countries, he said.
The country’s chemical industry is spending about €9bn/year ($12bn/year) on R&D, but that could double to €18bn/year by 2030, Tillmann said.
With a focus on specialty chemicals, and the “right” industrial policy conditions,
Earlier on Thursday, VCI reaffirmed its projection of 1.5% year-on-year growth in
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections