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Chemical Industry in China

  • Leader
    August 12, 2020

    Chemical Industry in China: Recovery Plans for Regions and Companies Post COVID-19 The chinese chemical industry has been deeply affected with the outbreak of COVID-19. The high infection rate, city shutdowns, and transportation halts across the nation had a negative impact on the chemical industry of the country. In addition, China is a major player operating in the chemical industry across the globe. The chemical industry was the fifth-largest industry in the country in 2018, accounting for 3.5% of the nation's output in 2018 that is around $1.5 trillion. To get more news about china industry research, you can visit acem.sjtu.edu.cn official website.


    With the spread of the coronavirus, many production facilities of several end-user industries including automobile have been halted. With this, the demand for chemicals used in these production facilities has been exhibiting a sharp decline. China accounts for about 70% of the total rubber chemical products across the globe and consumes about 33-35% of it.


    Rubber chemicals are among the major components to produce auto tires and other auto parts including hoses, belts, and gaskets. With the halt in production facilities of several automobile manufacturers witnessed a steep fall in the demand for tires, which in turn is anticipated to impact the demand for rubber chemicals. Based on chemical type, the chemical industry is segmented into petrochemical, basic inorganic, polymer, specialty chemical, consumer chemical, and others.


    The major companies operating in the chemical industry being affected with the coronavirus outbreak include ABA Chemicals Corp., BASF SE, Bluestar Co., Cathay Industrial Biotech Ltd., China Petroleum & Chemical Corp., Kingboard Holdings Ltd., PetroChina Company Ltd., SABIC, Shanghai Bairun Investment Holding Group Co., Ltd., Wanhua Chemical Group Co., Ltd., and others.


    To combat this situation chemical manufacturing firms in China are keeping their businesses running in the face of this epidemic. Many chemical plants that were closed in early January 2020 have been reopened at the latter end of February. Most of the petrochemical plants operating in the southeast province of Zhejiang, which is a major chemical industry hub in China had started their production facilities by the end of February.


    However, most chemical plants are running at a reduced capacity of around 40-70% owing to the understaffing, and a lack of raw material. In addition, the weakening demand from end-users due to the economic slowdown is among the key factors that are hindering the efforts of chemical manufacturers to get back to full speed in the country. This report provides an in-depth analysis on market size and the intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

  • November 26, 2020

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  • November 11, 2021

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