Home > Asian Companies > China’s Plastics Market to Grow/China Is a Major Chemicals Import Market

China’s Plastics Market to Grow/China Is a Major Chemicals Import Market, Business and Industry Trends Analysis

The emergence of a large middle class in China in recent years has created a new and lucrative market for a huge variety of goods, including plastics. Meanwhile, China’s accession to the World Trade Organization in 2001 has had a profound impact on the country’s ability to compete aggressively in the global plastics market.

BASF estimates that the Asia-Pacific region, with China playing the dominant role, has become the world’s largest growth market in chemicals. Within China, a broad base of industries relies on chemicals of all types. While the country is playing a growing role as a chemicals and plastics manufacturer itself, it also will have a significant need to import specialty chemicals and high-performance plastics from providers in other nations.

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