Asian chemical industry will continue to grow rapi

2022-10-12
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In 2005, the Asian chemical industry will still grow at a high speed

after the strong growth of the world chemical industry in 2004, the Asian chemical industry will meet the best development opportunity since 1997. On December 26th, 2004, although the Indian Ocean tsunami disaster caused heavy casualties and property losses to Asian countries, it will not have an impact on the overall trend of the Asian economy. The U.S. chemical industry commission predicts that in 2004, the output value of Asian chemical industry increased by 5.8% (excluding China, India and Japan); In 2005, the chemical industry in East Asia increased by 5.3%; In 2006, it was 6.3%

1. The economic growth rate in Asia exceeded expectations

relevant statistics show that the Asian economy shows a trend of rapid growth, and the GDP growth rate of most countries is higher than the expected value before 2003. Previously, the Asian Development Bank estimated that the 20 packing lists should be easy to check. In 2004, China's GDP growth rate was 7.9%, Japan's was 1.8%, and India's was 6.3%; The agency's current assessment results are: in 2004, China's GDP growth will exceed 9.3%, Japan's 4%, India's 7.4%, and the economic growth rates of Hong Kong, Singapore and Taiwan, China will all exceed the expected level

since 2004, the two main issues affecting the Asian chemical industry are high international oil prices and whether China's economy will enter a downturn. In 2004, the average benchmark price of low sulfur crude oil in Texas was higher than $30/barrel. Among them, in October 2004, the average price was as high as $55/barrel. Although the oil price is at a high level, it has not had too much negative impact on the Asian economy. The Asian Development Bank believes that this is mainly due to the improvement of Asian economic strength and the increase in oil demand driving up oil prices, indicating that the economy is in a strong position, and Asia's huge foreign exchange reserves are sufficient to cope with the impact of high oil prices

2. China's chemical industry will continue to grow in double digits

in recent years, China is not only a major importer of luxury cars, construction machinery, aircraft and flat panel displays, It is also the largest gathering in the world "The design team thought of importing countries of olefins and high-end special chemicals, which shows that China's position in the world economy is improving day by day. From January 2003 to June 2004, China's rapid economic growth led to power shortages, and the prices of basic chemicals such as steel, coal and benzene rose sharply. For this reason, the Chinese government has introduced a series of economic cooling measures. Kevin swift, the chief economist of American ACC, analyzed that China's economic soft landing policy has The chemical industry has an impact. It is expected that the output growth of China's chemical industry will drop from 18.4% in 2003 to 13.9% in 2004 and 13.7% in 2005. Nevertheless, 2005 will still be an important year in the history of China's chemical industry. The three joint venture ethylene plants of Nanjing Yangba, Shanghai Secco and Huizhou shell will be put into operation successively. China's ethylene production capacity will increase from 6.5 million tons/year in 2004 to 9.3 million tons/year in 2006, and will exceed 14 million tons/year in 2010. From January to September 2004, Sinopec's net profit increased by 79%. Due to the rapid growth of domestic demand for petrochemical products, Sinopec will invest in many projects, such as its Zhenhai Refining and chemical company invested 2.15 billion US dollars in the construction of ethylene projects; In December, 2004, Sinopec announced its plan to purchase the outstanding shares of Beijing Yanhua with us $445million

3. Japan's economy began to recover

China's role as the driving force of economic growth in Asia is constantly strengthened. Similar machines are strengthening, but Japan's economy is still larger than China's. The moderate growth of Japan's economy and the rapid growth of China's economy have the same effect on the overall economic strength of Asia. After more than 10 years of decline, the Japanese economy has begun to recover. In November, 2004, the organization for economic cooperation and Development released a report, which believed that at present, the growth rate of Japan's economy is the fastest since the 1980s. It is expected that the growth rate of Japan's chemical industry in fiscal year 2004 will reach 1.7%, which is mainly reflected in the decline in export growth compared with the beginning of the year, but its domestic demand increases, the unemployment rate decreases, and corporate profits generally increase. It is expected that the Japanese economy will continue to grow in the next two years, but the growth rate will be slower than that in 2004. The economic benefits of Nippon Chemical Industry Corporation in fiscal year 2004 increased significantly, and it is expected that the net profit of Asahi Kasei company in Japan will increase by more than 100% year-on-year; The net profit of Mitsui chemical company increased by 20% year-on-year; The profit of Xinyue chemical company increased by more than 20% year-on-year

4. India's chemical industry is rising rapidly

India will continue to be the main driving force for the growth of the chemical industry due to its huge population base. Since flexible packaging materials are mainly high molecular polymers or its related materials, the president of yezper consulting company in Mumbai believes that India's GDP increased by more than 6% in 2004 and is expected to increase by 7.4% - 8% in 2005. In 2004, the growth rate of Indian chemical industry was as high as 10%, and it is expected to reach 15% in 2005. India will become one of the regions with the fastest growth rate of the global chemical industry, with an output value of US $20.8 billion to US $30 billion. The operating income of trust industries, India's largest oil refining and petrochemical producer, increased significantly in fiscal year 2004; The net income in the first half of fiscal year 2004 increased by more than 35% year-on-year, mainly due to the large increase in the profits of exploration and refining businesses. Nikhil meswani, President of trust industries, predicts that India's plastic demand will increase significantly in the next five years, from 3.3 million tons in 2000 to 12.3 million tons in 2010, becoming the world's third largest plastic consumer after China and the United States

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