Chinese chemical manufacturers enter global marketNov 14th, 2016
The shrinkage of the domestic market in parallel with the growing number of Chinese chemical firms has prompted the expansion of national chemical business to foreign markets. The largest plastic and rubber trade fair in Dusseldorf, Germany held in October 2016 was overloaded with Asian representatives. There were nearly 3,300 participants showcasing their services and goods. Initially, the dominant positions at the exhibition were taken by European companies but over the past three years, Asian chemical booths have taken the lead. They are mostly companies from India, China, and South Korea. Chinese chemical industry was represented by 380 companies including Taiwan businesses.
Among them was China XD that possesses many opportunities to compete with global chemical producers. Headquartered in New York, it has already established a number of subsidiaries in Hong Kong, Sichuan and Heilongjiang provinces. Currently, the company is offering a range of products including plastics for the automotive industry, bio-based goods, petroleum materials and even 3D-printed production. Its specialists have been successfully working on the implementation of eco-manufacturing, for instance, they have introduced the technology to process agricultural waste into industrial materials.
Chinese producers seek for participation in such international events as K 2016 as they are a rare thing at their territory. For example, Dongguan Goldwin Precision Moulds Co, LTD is looking for potential consumers in Europe claiming that its high-grade goods are cheaper than those of European companies.
This year over 200,000 visitors from all over the globe attended the event. It means that China has multiple chances to enter chemical markets of North America, Africa and South Asia. Despite low prices, Asian chemical companies offer a range of new technologies that make them commercially viable among others.