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Survey: China attractive to chemical executives
By Richard Fu |
September 19, 2012, Wednesday
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CHINA'S chemical industry is set to expand further as the majority of chemical executives worldwide surveyed by KPMG said the country is their top choice for investment.
Sixty-three percent of the 156 senior chemical executives surveyed in the US, Europe and Asia-Pacific region said they plan to increase capital spending next year, KMPG said in a news release today.
And 90 percent of the executives indicated their companies are likely to be involved in a merger or acquisition in the next two years, up from 83 percent in KMPG's 2011 survey, said the accounting and consulting firm.
Most of big-ticket petrochemical and chemical investments are unfolding in the Middle East, Latin America or East Asia, it said.
"We see continuing opportunities for China's chemicals market, despite the global economic slowdown," Norbert Meyring, KPMG's chemical sector head for China and Asia Pacific, said. "However, the sector is also set to face some challenges as China shifts from a large industrial country to a sustainable model, such as a potential shortage of resources."
Sixty-three percent of the 156 senior chemical executives surveyed in the US, Europe and Asia-Pacific region said they plan to increase capital spending next year, KMPG said in a news release today.
And 90 percent of the executives indicated their companies are likely to be involved in a merger or acquisition in the next two years, up from 83 percent in KMPG's 2011 survey, said the accounting and consulting firm.
Most of big-ticket petrochemical and chemical investments are unfolding in the Middle East, Latin America or East Asia, it said.
"We see continuing opportunities for China's chemicals market, despite the global economic slowdown," Norbert Meyring, KPMG's chemical sector head for China and Asia Pacific, said. "However, the sector is also set to face some challenges as China shifts from a large industrial country to a sustainable model, such as a potential shortage of resources."
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