Borouge: China will become the largest polyolefin consumer market in 2020

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Borouge: China to Become the Largest Polyolefin Consumption Market by 2020 08:19, April 19, 2012 Source: Hexun.net On April 18, Hu Wei, Senior Vice President of Borouge’s Marketing Department, said at the 2012 China International Rubber and Plastic Exhibition that the demand for polyolefins in China’s plastics industry is on the rise, with consumption of polyolefins in China expected to reach 52 million tons by 2020. Hu Wei noted that in 2011, China’s demand for polyolefins was around 30 million tons, and this demand was expected to grow at a rate of about 7% per year; by 2020, China was projected to become the world’s largest consumer market for polyolefins. Borealis is a joint venture between Abu Dhabi’s ADNOC and the Nordic chemical company Borealis. It entered the Chinese market in 2008, and its business areas include infrastructure (pipe systems, cables, and communication facilities) as well as automotive and high-end packaging. In 2011, its sales amounted to nearly $3 billion, and it is currently building the world’s largest integrated polyolefin plant. “Lubrizol will continue to invest in capacity expansion and value creation through its patented Borstar technology, its expertise, and its competitive plastic solutions, thereby driving the development of the industry. ”Hu Wei said.