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A strong rebound in 2010 may become the main theme of the Asian chemical industry

A strong rebound in 2010 may become the main theme of the Asian chemical industry

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  • Time of issue:2011-04-29 00:00
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(Summary description)

A strong rebound in 2010 may become the main theme of the Asian chemical industry

(Summary description)

  • Categories:News Center
  • Author:
  • Origin:
  • Time of issue:2011-04-29 00:00
  • Views:
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Just after the darkest moment before dawn in 2009, the global chemical industry is stepping out of the quagmire of the financial crisis, and heavyweights in the global chemical industry look forward to the prospects of globalized industries in 2010. They believe that the haze of the 2010 financial crisis is about to dissipate, the market will be full of business opportunities, the chemical industry will usher in a low-carbon economy boom, and the surge in demand may lead to a surge in raw material prices.

Affected by the global financial crisis, after a period of downturn in 2009, the Asian chemical industry took the lead in stabilizing and rebounding under the strong economic stimulus measures of various governments, and there will be a strong rebound in 2010. The basis of a strong rebound is the steady growth of demand. China and India, two populous countries in Asia, have established the main theme of strong demand for the chemical market.

China maintains strong growth. In the past, the growth rate of China's chemical industry has been slightly higher than that of GDP, and it will continue to be the same in 2010. According to the forecast of the Asian Development Bank, China’s GDP growth rate in 2010 will increase from 8.2% in 2009 to 8.9%, which will drive the strong growth of the chemical industry. At the beginning of 2009, many chemical plants in China were forced to shut down, or barely operated at a very low operating rate. However, by the end of the first quarter and the beginning of the second quarter, this situation has been significantly improved due to a series of economic stimulus plans adopted by the Chinese government. By the third and fourth quarters, the operating rate of most chemical plants in China reached the 2008 level. . The current level of China's chemical inventory is still not high, so the recovery of demand will promote the strong growth of China's chemical industry in 2010.

The Indian chemical industry is speeding up again. Affected by the global financial crisis, India's economic growth rate has slowed down in 2009, but the country's GDP growth rate will accelerate in 2010. A report recently released by the Asian Development Bank shows that India’s economy is expected to grow by 7% in 2010, an increase of 1% from 2009. The bank’s chief economist Jong-Wha Lee said: “The Indian government’s huge fiscal stimulus plan has successfully prevented the economic downturn last year. ” Driven by the strong demand for India’s packaging industry, automobile industry and infrastructure construction, the consumption of polyethylene, polypropylene and polyvinyl chloride in India increased by 20% to 30% in 2009. For 2010, Indian chemical companies are more confident.

East Asian countries are out of the predicament. When analyzing the prospects of the chemical industry in Asia recently, the American Chemical Industry Council stated that the chemical industries in South Korea, Singapore and Taiwan will show a good growth trend during the period 2010-2012. The chemical industries of these East Asian countries and regions were affected by the global financial crisis in early 2009, and chemical production fell sharply. Subsequently, stimulated by the recovery of the global economy, especially the strong growth in demand for the chemical market in mainland China, the chemical industry got out of the predicament.

According to the American Chemical Industry Council, the production of chemicals in the Asia-Pacific region (excluding Japan) will increase by 8.6% in 2010, a significant increase from the 2.4% growth rate in 2009. Chemical production in Taiwan, China (the same below) is expected to increase by 6.5% in 2010 after a sharp drop of 11.4% in 2009; South Korea will see a strong growth of 6.3% in 2010 after a 1.7% drop in 2009 ; After Singapore fell sharply by 9.4% in 2009, it will grow by 5.5% in 2010.

Compared with other regions, the Asian region certainly has outstanding guarantees in terms of consumer demand, but as far as the overall development of the industry is concerned, the Asian region cannot be taken lightly in the process of industrial development, and facing the development problems of the chemical industry itself is still the future. Focus of work for a period of time.

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