Quality companies in China are becoming global chemical leaders

In the next three years, major domestic leading chemical companies have large-scale capital expenditure plans. We expect that leading companies will accelerate their growth and promote industrial transformation and upgrading, and some high-quality leading companies are expected to become global chemical leaders, and China is the world's largest chemical market.

China's chemical industry ranks first in the world in terms of revenue and capital expenditure, and its market share continues to expand. According to the European Chemical Association, Chinese chemical companies spent €87.1 billion in capital expenditure in 2018, with a compound growth rate of 10.6% in capital expenditure from 2008-2018, and the world's leading capital expenditure scale and growth rate drive China's chemical market share continues to expand, with global chemical sales of €3.35 trillion in 2018, of which China's chemical sales accounted for €1.2 trillion, or chemical sales of 35.8%, making it the world's largest chemical market, and BASF expects China's share of the global chemical market to expand to nearly 50% by 2030.