Jul. 11 – China specialty chemicals market has showed increasing demand in recent years as a related report indicated. With continuing a high speed growth of national economy, import & export, China chemicals market presents opportunities and challenges that shake up local and international key players, experts indicate that China specialty chemicals market demand will continue to grow in 2017-2027.
The status of the Chinese specialty chemicals market
Compared to the rest of the world, China chemicals market was the fastest and greatest growing chemicals market in the world in the last decade. With rising standards of living as well as the fact that the government shows increased environmental consciousness are increasing the demand of innovative products. Opportunities for those who are producers of specialty chemicals are the rising demand for innovative, lightweight chemicals such as polymers and specialty coatings which are needed, e.g. for cost-effective car manufacturing. Also, China still shows increasing domestic demand for specialty chemicals, mainly the automotive, manufacturing, electronics, at the same time, energy, cosmetics and the food industry in China are blooming with fast demanding pace. All of these segments are in need of specialty chemicals which increase the demand for production and import too. China specialty chemicals market to grow further until 2020, according to a report.
Germany is long lived in organic chemicals importing to China
Why importing organic chemicals to China, the key player is Germany – the emerging power of specialty chemicals in the market. Historically, China became Germany’s largest trade partner for the first time in 2016, with this new business status, China means more values for the German trade. As for organic chemicals, it is an important market which ranked in the top 10 of German exports and Chinese imports, up to now, the import from Germany remains at a well solid rising rate. The main reason for drive import from Germany organic chemicals are quality and technology. China is in need of world-class organic chemicals even more than ever, at this moment, the China chemical industry is at the stage of upgrading; China needs organic chemicals of a quality which they aren’t capable of producing themselves yet. Germany is a key player of high-quality organic chemicals in the market; high-quality organic chemicals drive China import from Germany. In doing so, Chinese firms can increase their own technological knowledge, in the process of upgrading China chemical industry; importing higher quality products from Germany will benefit R&D in China specialty chemical industry. Importing, researching and upgrading the capacity of producing high-quality of its own products are at the same time, benefits for both China imports and German exports.
China specialty chemicals market future
As expert forecast that the chemicals market to keep growing, the main opportunity and concurrently main implication are to focus on specialty chemicals which still show attractive positions. Essentially, chemicals used in the thriving industries like the automotive or electronics industry can be very attractive. To the Chinese chemicals market, big data analytic is the most important aspect of improving the quality of products and upgrading of China chemical industry, to prognosis customer behavior and generate exact demand patterns. Moreover, customer insights is a crucial data for foresee the rising of milieu-awareness in China that could lead local companies to focus on more on developing and producing specialty chemicals that are profiting the users and the milieu. For the China Specialty Chemicals Market Update Report – Demand & Supply 2017-2027 available upon request, please contact with DCCC, or email to: firstname.lastname@example.org