Bayer: China will become the largest polyurethane market in 2015

The chairman of Bayer's Board of Directors, Markin Dykes, said recently that the rapid development of the Chinese economy has brought vitality and vitality to the entire polyurethane market. It is expected that by 2015, China will become the world's largest polyurethane market.

He said that China is the focus of the material science and technology industry, and it is the world’s largest construction market, the largest automotive market, the largest railway market, the largest consumer electronics market, the largest polycarbonate market, and the largest exporter. Second only to the United States, the second largest paint market. As the world's second largest economy, China's regional growth momentum is strong.

Today Greater China (Mainland China, Hong Kong and Taiwan) is Bayer's largest single market in Asia. In 2010, Bayer MaterialScience's sales in the region reached 1.814 billion euros, of which the polyurethane industry accounted for 42%.

Malkin Dykes said that by 2015 China is expected to become the main market for Bayer MaterialScience, with sales expected to reach 3 billion euros. Bayer will invest EUR 1 billion by 2016 to double its existing MDI and polycarbonate production capacity, expand Bayer MaterialScience's global R&D center, and set up its global polycarbonate headquarters in Shanghai, with the establishment of corresponding downstream plant facilities. In the next five years, sales will maintain an 11% growth rate.

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