What is the potential of importing plastic materials and resins into China?
In China's tenth-five year plan (2001-2005), the annual growth rate of general synthetic resins is projected to be 6.8% and engineering plastics materials is expected to be 10%. However, the local output of plastics materials and resins can only satisfy 50% of market demand. As a result, China must import large quantities of plastic materials each year.
In 2001, for the first time China's imports of major GP plastics broke through 10mt and reached 11.67mt, up 21% over those in 2000. It is estimated that China's imports of PVC will increase to 3.4mt in 2003. Meanwhile, China has become the largest importer of engineering plastics in the last three successive years. Up to 2005, the demand for the five major engineering plastics (PC, POM, PA, PBT and PPO) and ABS will increase to 590,000 t/a and 1.6mt/a.
| 2000 | 2001 | 2002 |
Total Market Size | 15,150 | 16,500 | 17,895 |
Total Local Production | 6,000 | 6,000 | 6420 |
Total Exports | 550 | 600 | 600 |
Total Imports | 9,700 | 11,100 | 12,075 |
Total Imports from U.S. | 680 | 700 | 740 |
(Legend: In US$ millions (1,000,000's))
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