International chemical giant accelerates Chinese market

The huge potential of China's chemical products consumer market is attracting the international chemical giants to speed up the beach. Bayer is one of them. Dr. Rena Retti, head of the high-performance resin division of Bayer MaterialScience's polycarbonate unit in Asia Pacific, revealed in an exclusive interview with the media that Bayer will invest additional capital in setting up its polycarbonate production capacity in an integrated base in Shanghai Chemical Industry Park. From the originally planned 100,000 tons to 200,000 tons. This project is planned to start production in 2008.

In fact, Bayer is just one of the members of the international chemical "corps" that has accelerated its business expansion in China. As one of the world’s largest consumers of chemical products, China’s attractiveness to them is self-evident. In mid-May, 131 German chemical companies made appearances at the 6th Achema Asia Exhibition held in Beijing, hoping to obtain orders from China with their innovative technologies and products. At the China International Rubber and Plastic Fair held in Guangzhou recently, LANXESS, a German-based chemical giant, announced that it will double its capacity at Wuxi’s engineering plastics plant during the year and establish Asia’s largest leather chemicals research and development center in Asia.

In addition, the rubber research center in Qingdao has also started planning. It is estimated that by 2010, the demand for chemical products in the Chinese market will maintain an annual growth rate of 7%, much higher than the 2.5% growth rate in Europe. Dr. Oberham, president of the German Chemical Engineering and Biotechnology Association, said that the global chemical industry’s attention to the Chinese chemical industry has exceeded that of any other country.

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