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China ABS Plastic Market Report, 2008
China ABS Plastic Market Report, 2008
- Report price : $ 1 900
- Publication date : November 2008
- Length : 90 pages
China ABS Plastic Market Report, 2008
ABS plastic consumption in China has increased rapidly in recent years. As early as 2002, China has already become the biggest ABS consumer in the world. Apparent consumption of ABS plastic in China was 2.15 million tons, 3.08 million tons and 3.27 million tons in 2002, 2005 and 2006 respectively. Moreover, ABS plastic self-sufficiency ratio in China was 35.88% and 39.06% in 2005 and 2006 respectively.
In the year of 2007, the apparent consumption of ABS plastic in China rose to 3.91 million tons and ABS plastic self-sufficiency ratio hit 45.27%, however, the market will still rely on import in 2008.
In 2007, the overall output percentage of top ten ABS plastic producers in China all together was over 95%. Ningbo LG Yongxing Chemical Co., Ltd is the largest ABS producer with an annual production capacity of 480,000 tons.
Korea LG group has planned to expand its production capacity to 800,000 tons in China. Additionally, in 2007, Zhenjiang Chi-Mei Chemical Co., Ltd expanded its production capacity as many as 100,000 tons, it also purchased a plant located at Taichang city with a production capacity of 60,000 tons from Sinochem Corporation, and another 100,000 tons production capacity is planned to add on the plant.
The plant with a production capacity of 200,000 tons of Shanghai Gaoqiao Petrochemical Co., Ltd has started manufacturing in Jan 2007. Moreover, Zhenjiang Guoheng Plastics Co., Ltd also expanded its production capacity from 150,000 tons to 250,000 tons. In 2007 Q2, Ningbo Formosa Chemicals & Fiber Co., Ltd also expanded its production capacity to 250,000 tons. By the end of 2007, the production capacity of top ten manufacturers all together reached 2.01 million tons.
The overall operating rate of all ABS plastic manufacturers in China was about 85% in 2007. So far, the rate declined to 50%-60% caused by the following factors: snow disaster, long-time equipment maintenance, safety accidents, roaring oil price growth and global economy depression.
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