The Asian chemical industry will remain powerful growth in 2012

Although the global economy faces a challenge,the Asian chemical industry will remain keep powerful growth.Last week,Paul Nick,who is KPMG global chemical business controller said:"Even though we are not sure whether the outlook for global macroeconomic will bring a great negative influence to the 2012 global chemical industry,we are still keeping a positive attitude for the outlook of Asian chemical industry growth,global chemical industry will keep shifting to the emerging market.

Further,Nick points out that Asian powerful GDP growth will stimulate chemical industry to have a further growth,and meanwhile,the chemical companies of the developed countries are increasing investment strength in Asia,in order to seek further growth of their business. Thailand,Indonesia and Vietnam extend their existing industry chains of the oil refineries petrochemical to help to boost a rapid growth of industry growth.

American Chemical Council (ACC) predicts:the chemical industry of South Korea,Singapore and Taiwan (China) will keep a good increasing trend in 2012.In 2012,chemical production of Singapore will improve about 5%,4% growth in South Korea, Taiwan's(China)  growth is about 3.8%,and Asian-Pacific region (not include Japan) will increase by 7.9%.

NorBert MeiErlin,who is the Chinese partner of KPMG said, KPMG kept a prudent and optimistic attitude for chemical industry of Asia in 2012,he expected that its growth would be faster than GDP's,but Asian chemical industry also would face some challenges,including the price fluctuations of the raw material increase,and fluctuation demands which were brought by global economic outlook of uncertainty.

By Allen