One of the world’s top four accounting firms, Tim Hanley, head of global chemical industry at Deloitte Research, said in an interview with Xinhua News Agency on the 17th that the Chinese chemical market is huge and full of vitality. It is expected that China will replace the United States by the end of this year. The world's largest chemical market. “The gap between the chemical market in China and the United States is rapidly shrinking. The rapid development of China’s economy and the rapid growth in the demand for chemical raw materials in China’s end-user industries such as automotive, construction, and textiles are key drivers for the rapid development of China’s chemical industry,†Hanley said. . Oscillating Vertical Blade Foam Cutting Machine Structural Features Edit Broadcast
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Deloitte's global chemical industry outlook and trend report is expected to be released recently by Hanleigh. He disclosed that the global chemical industry is maintaining a strong growth momentum, of which China's development prospects as the world's second largest chemical producer are promising. Last year, China's chemical industry output value exceeded 900 billion U.S. dollars, accounting for 15% of the world's demand. In addition, China is also a very active chemical trading country. Since 2000, the chemical industry exports have increased by 70%, while imports have increased by 50%.
“The active local market, increasing wealth, and the acceleration of the consolidation of the local chemical industry all provide investment opportunities for the global chemical industry to enter the Chinese market.†Hanley pointed out that in the many fields that will drive the development of China's chemical industry, the next few years The fastest growing will be in the automotive and consumer electronics sectors, followed by the development of food and agricultural chemicals.
However, Hanley also pointed out that the future development of China's chemical industry is also facing a series of challenges. On the one hand, it shows that the industry concentration is low. Except for some large petrochemical enterprises in the upstream, most sub-sectors are highly dispersed, including more than 28,000 small ones. In chemical plants, the production capacity of these small enterprises is very limited and the product types are not very different, resulting in excess supply of many low-end products. On the other hand, the energy efficiency of China's chemical industry is relatively low. The energy consumption per unit of chemical production is 4.1 times that of the United States and 6 times that of Japan.
Hanley pointed out that for chemical companies in China, the most pressing task is to speed up industrial restructuring, improve equipment utilization and technological innovation, increase energy efficiency, and produce more chemical products with higher added value. Meanwhile, the government should also encourage small and medium-sized chemical companies. Consolidation and expansion will change the low level of industry concentration, thus seizing opportunities in the new round of development of the global chemical industry.