China’s petchem industry faces slew of challenges – Solvay exec

17 April 2014 14:10  [Source: ICIS news]

SHANGHAI (ICIS)--China’s petrochemical industry faces a slew of challenges that will impede its future development if not properly managed, a senior Solvay China executive said on Thursday.

A lack of product and technology innovations and good practices aimed at maintaining sustainable developments, plus the prevalence of low quality products, were some of the key challenges faced by the industry, said Solvay China’s country manager Michael Zhu.

The Chinese petrochemical industry is estimated to include more than 25,000 companies spread out across the country, and such fragmentation was also a challenge because it leads to high supply chain costs, he said at the 8th China Petrochemical Focus, a two-day event that ends on Friday.

As a result of its negative image as the key source of pollution, the Chinese petrochemical industry also faces increasing pressure from the local community to clean up or move out, he said.

A lack of active communication to inform the public and to correct negative portrayals of petrochemicals as a pollutant would impede the future development of this sector, he said.

By: Chow Bee Lin
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