China’s engineering plastics consumption volume will reach 3.37 million tons

In recent years, engineering plastic has become the fastest-growing type in the plastics industry; the domestic annual consumption volume growth has reached more than 20%. With the sustained economic development, the engineering plastics are widely used in electrical and electronic, automobile, construction, office facilities and other industries; “plastics instead of steel” and “plastics instead of wood” have become the international trend.As of H1 of 2012, there were more than 1,500 engineering plastics producers in China. The regional distribution of these enterprises is unbalanced; at present, China’s main engineering plastics production bases are mainly concentrated in Jiangsu, Shanghai, Henan and Zhejiang, of which, the representative enterprises are Bluestar Chemical, Yuntianhua Group (600096), Shenma Group and Kingfa Scientific and Technological Co., Ltd. (600143). The production bases of modified engineering plastics are mainly concentrated in Guangdong Province.In 2012, the engineering plastics consumption volume in China was about 2.995 million tons, increased by 10.5% over 2011. Huidian Research predicts that the engineering plastics demand volume is likely to continue to maintain the growth rate of more than 10% in the next three to five years. It is estimated that China’s engineering plastics consumption volume will reach 3.37 million tons in 2013, and this number will exceed 4 million and 5 million in 2015 and 2017 respectively.
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