China leads the global chemical industry in the second half of the year
On June 21st, the latest report released by Deloitte Touche Tohmatsu Global Manufacturing Group “2011 Global Chemical Industry Mid-year Outlook†showed that the chemical industry continued to recover. In the short term, revenue will grow at a compound annual growth rate of 7.9%. Higher product prices and a better global economic environment have driven demand in the terminal market for chemical products to increase, which is a major factor in promoting revenue growth. This trend is expected to continue into the second half of 2011.
As a large number of chemical products are needed in the process of automobile production and development, the automotive industry is one of the major markets for chemical products. According to reports, in the first half of 2011, the increase in global sales of the automotive industry drove the rising trend of the chemical industry. Other end markets that help drive revenue growth include the consumer electronics and pharmaceutical markets.
The report predicts that in the second half of 2011, China is expected to dominate the global chemical industry with the highest revenue growth, and markets such as India, Brazil and South Korea will follow closely. Despite stable demand in the United States and Europe this year, high prices are likely to generate higher revenues for chemical companies in Europe and the United States.
Tim Hanley, global chemical industry leader of the Deloitte Touche Tohmatsu global manufacturing industry group, stated that “China may become one of the important markets for the chemical industry. Due to the increase in domestic demand, Chinese chemical companies have turned to higher value-added products and the profit margin may increase. â€
Ms. Ying Yang, Head of Deloitte China Manufacturing Industry, pointed out that “China’s chemical industry faces unique challenges, including low energy efficiency, low industry concentration and limited innovation capacity. However, the Chinese government’s 12th Five Year Plan and the above end markets The continued growth will likely become a positive catalyst for the development of China's chemical industry."
According to reports, for chemical companies seeking to gain a competitive advantage, sustainable housing and sustainable agriculture are the two major global trends that have prevailed this year. Chemical companies that are actively seeking to exploit these major trends are now focusing their long-term strategies on solutions that are of great social significance. Therefore, R&D is an important way to promote major trends solutions to the market. More and more chemical manufacturers are aware of the need to collaborate with other parts of the value chain to innovate this demand, because it is as much to develop solutions as to face the global economy, energy, mobility, urbanization and climate change. Important.
In addition, Deloitte Touche Tohmatsu Global Manufacturing Group predicts that oil prices will continue to rise. Tim Hanley added: “At present, the difference between the price of oil and natural gas in the United States is 30%, which establishes a market advantage for chemical companies with flexible fuel production facilities. In the long run, this kind of advantage will continue to depend on shale. The issue of gas licenses, the development of supply chain infrastructure, and the demand for natural gas in other markets."
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