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DSM sees China sales to rise twice as fast as GDP
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DSM NV expects its materials business in China to grow twice as fast as the Chinese economy as the Dutch chemicals group rides on rising demand from automakers and solar firms.
DSM Materials Sciences’ aim is to grow at twice the gross domestic product growth over the coming years with new plants and application labs, said Dimitri de Vreeze, a DSM board member responsible for Materials Sciences, citing China’s growing demand for sustainable products.
“For example, if the automotive growth is 10 percent, the sustainable materials in automotive should grow double that rate,” he said. “The car today will not be the car in 10 years from now, absolutely not.”
DSM Materials Sciences grew at around 8 percent annually in China on average over the past five years, roughly in line with the growth in GDP, de Vreeze said in an interview in Shanghai.
The company supplies plastics to help automakers reduce car weight and also coatings to help solar firms increase the efficiency of photovoltaic modules. It also supplies other applications in industries ranging from building to furniture and packaging. DSM also has a Life Sciences cluster that provides pharmaceutical and nutritional products.
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