Rapid growth in China's national economy has triggered the demand for engineering plastics in various industries, especially domestic pillar and new growth industries. These high-end polymers are the fastest moving products in the entire global plastic material industry.
New analysis from Frost & Sullivan, Chinese Engineering Plastics Market, finds that the market earned revenues of $5.50 billion in 2006 and estimates this to reach $11.56 billion in 2013.
"Their resistance to heat, weather, and a wide variety of chemicals, in addition to many other notable properties, makes them much durable than regular commodity plastics," remarks Frost & Sullivan Research Analyst Alina Sun.
"As a result, engineering plastics are replacing structural materials such as metal, wood, and glass in many end-user industries."
Engineering plastics, with their abrasive and mechanical resistance, have not only gained popularity in daily-life supplies and agriculture sectors, but have also been in high demand in many heavy-duty sectors such as automotive, electrical and electronics, machinery, and transportation among others.
In China, there exist more than 1,000 automotive component manufacturers trying to meet the growing demand of automotive manufacturers. Majority of the components are manufactured locally in China, providing a large user base for the Chinese polyamide (PA) engineering plastics industry.
However, the hi-tech polymers market in China is highly dominated by international players. Imports accounted for most of engineering plastics consumption.
As the costs are higher for imported products than those of the local ones, local consumers are hindered from using better performing engineering plastics.
In addition, the production capacity of the local Chinese plastics market has been very low, lacking the quality to meet market demand.
"Incorporating local technology with international technology will help cut down price," says Sun.
"Resolving industrialized production's key issues such as sources of raw engineering plastic materials will help achieve large-scale production in the engineering plastic industry."
Concentrating on making breakthroughs in the polycarbonate (PC), polyoxymethylene (POM) resin production technology and strengthening the power of scientific and technological development will help in the future development of the Chinese engineering plastics industry.
(10 October 2008) The Bombay Master Printers Association (BMPA) presents Print India 2008 in Mumbai from November 14 to 18. The international exhibition of printing and allied industries, themed ‘To...
(10 October 2008) Food Technology & Innovation Asia 2008 will be held on November 20-21, 2008 in Beijing, China. Organized by Global Leaders Institute, the summit expects over 250 industry decision-...
(9 October 2008) Chinese manufacturer and distributor of BOPET plastic films Fuwei Films says it has received the final results of the BOPET film-related anti-dumping investigation conducted by the...
(8 October 2008) Carlsberg says the Russian market is estimated to have been gloomy compared to the third quarter 2007 reflecting principally exceptionally poor weather across the region. This has ...
(7 October 2008) RPC Containers Market Rasen has provided a custom moulded lid – incorporating a levelling bar and a detachable scoop – for Heinz’s newly launched Nurture Follow-On milks for growin...
(2 October 2008) Krones AG, Neutraubling, Germany, will be using the BRAU Beviale 2008 to showcase new forms of service support. In the new interactive internet portal, called “LCS Remote Service”,...
(1 October 2008) Green at the source: Tetra Pak works with its paperboard suppliers to encourage good forest management practices. It’s quite a sight as the plane descends over the south coast of ...
(1 October 2008) Engineered nanoscale materials (ENMs), which contain properties that offer potential benefits for use in food packaging, raise new safety evaluation challenges for regulators and ...
While Tesco had previously resisted offering mortgages on the grounds that the margins were so tight that they were unprofitable, finance director Andrew Higginson said that the credit crunch seems to have created an opportunity. Tesco may begin offering home mortgages to compete with the major lenders.
In response to consumer research and the global trend for convenience, South Africa's Pick n Pay has opened its first small format convenience store in Fairland, Johannesburg.
Marks & Spencer has opened its first store in mainland China with hopes that it might lift flagging results. As the flagship store opened on West Nanjing Road, Shanghai’s premier shopping street, the UK retailer reported its worst performance for three years with like-for-like UK sales down by over six per cent over the last three months.
Sorin Minea, chairman of the Romanian Federation of Food Industry Business Owners (Romalimenta) says the food industry is currently overdeveloped in Romania and explains that the weight of current expenses...
US grocers including Whole Foods Market, Kroger and Stop & Shop have had to hire third party verifiers to root out produce that contains pesticide residue despite organic seals. Some supposedly organic producers are certifying conventionally-grown produce in order to increase the price.
Tesco, Britain's biggest retailer, has shown it operates best in tough markets, racking up a 10.3 per cent increase in profit of €1,824 billion for the first six months of 2008 to 23 August. Total sales rose 13.8 per cent to €32.1 billion.
