GPCA ’13: Chemical makers need to keep society’s future needs in mind

20 November 2013 09:43  [Source: ICIS news]

DUBAI (ICIS)--Petrochemical companies need to keep in mind the future needs of the society and try to make products that are useful in meeting people’s needs, an industry executive said on Wednesday.

“A company can survive for as long as the society needs it,” Shigeo Ohyagi, President and CEO of Teijin said. “Therefore, we [Teijin] continue to think what society needs in the future.”

Ohyagi was speaking at the 8th annual Gulf Petrochemicals and Chemicals (GPCA) Forum in Dubai.

He said petrochemical companies should be ready to use chemistry and technology “to provide solutions” to the society.

Ohyagi cited a number of innovative products that Teijin has developed, or is in the process of developing, including polyester chemical recycling technology and water treatment technology by an activated biological process.

Chemical recycling technology decomposes polymer to monomer and reduces carbon dioxide (CO2) emissions.

Teijin has entered into a joint venture with a Chinese manufacturer and will start building its recycling plant in May next year, Ohyagi said but did not give further details.

The Japanese producer is also working on carbon fibre for high-end uses, Ohyagi said, adding that its applications will result in the improvement of aircrafts and automobiles, and a reduction in CO2 through improved fuel efficiency.

By: Tahir Ikram
+65 6780 4359

AddThis Social Bookmark Button

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.

Printer Friendly

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