BASF's Asia Pacific Development Strategy in 2010

BASF's development strategy for the Asia Pacific region in 2010 BASF disclosed its development strategy for the Asia Pacific region on March 23, 2010: explore a sustainable development model, develop new chemical industries, and strive to achieve the goal of doubling the sales in the Asia Pacific region in 2020 compared with 2008, that is, to reach 20billion euros. The company will actively participate in the growth of the Asia Pacific market and invest heavily in the plastic business, a considerable part of which will be invested in the Chinese market

BASF's production and sales began to pick up in the second half of 2009 because it seized the opportunity of the rapid recovery of the Chinese market. The decline in international oil prices led to a decline in product prices. Although the company's annual sales of 50.7 billion euros fell compared with 2008, its total output still increased. In the important period of adjusting industrial structure and changing economic growth mode in the post crisis era, BASF proposed a development strategy based on world-class Petrochemical bases, with innovative environmental protection concepts as the core, strong scientific research capabilities as the support, and first-class customer service as the guidance

BASF said that China is the focus of BASF's Asia Pacific market and is full of confidence in the future Chinese market. The goal in the Asia Pacific region is to grow 2 percentage points faster than the local chemical market, which means that BASF's sales in 2020 will double that in 2008, reaching 20billion euros. In order to achieve this goal, BASF has decided to invest about 2billion euros in Asia by 2014 and actively participate in the growth of the Asian market

the plastic business is a key area of BASF's Asia Pacific growth strategy. At present, 30% of the company's plastic business sales come from Asia. At present, the global demand for plastic raw materials is rising, and the Asian market is the most dynamic, with an average annual growth rate of 6%. China is the largest plastic consumer in Asia. The demand for environmental protection industries and products has become an important direction of China's economic development, accounting for more than half of the Asian market

it is understood that a considerable part of the 2billion Euro investment will be used to support the development of BASF's plastic business in China. Among them, Chongqing's new production base of diphenylmethane diisocyanate (MDI) with an annual output of 400000 tons is planned to be put into commercial operation in 2014, and the second phase project of Nanjing Yangba base is planned to be put into operation in 2011. BASF's three world-class projects in Nanjing, Shanghai and Chongqing will form a complete base layout in the Yangtze River Basin and provide sufficient localized plastic raw materials for Asia

through industry integration and innovative development, BASF's green plastic solutions have achieved remarkable results in the global automotive, construction, packaging and other fields. Innovative polymers will help BASF stand out from the market. BASF continues to work with customers to produce raw materials that are used in a series of plastic products such as polyethylene terephthalate (PET) bottles and agricultural mulch films. At the same time, in the fields of automotive lightweight, energy-saving building materials and eco-friendly plastics, the products provided by BASF also create conditions for significantly reducing carbon emissions

at the same time, advanced plastic additive products make BASF's plastic business more obvious. In 2009, BASF became a leader in the global plastic additive industry after successfully purchasing Ciba and replacing it with new oil if it was found that the oil began to deteriorate or was dirty and unusable. Special additives such as light stabilizers, antioxidants, halogen-free flame retardants and scratch resistant additives are added to provide customers with a whole series of new solutions

BASF comprehensively demonstrated the innovative applications of new materials and green plastics. These include the automobile oil pan based on Computer Aided Engineering (CAE) design produced by the engineering plastic Ultramid, the low-carbon building thermal insulation system applied in the urban best practice area of Hamburg, Germany for the 2010 WorldExpo, ecovio series bioplastics for packaging and agriculture, and polyurethane sealant for high-speed rail tracks

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