Business strategy for chemical companies to bring greater success
It is predicted that China's GDP growth in 2007 will drop from 10.4% in 2006 to 9.7%. Although the strong growth momentum of most chemical application markets will continue to be higher than GDP growth, some industries may experience a similar slowdown. The challenge facing chemical companies will be to give priority to business development and expand market share.
A market scale study by m-brain (formerly GIA) Asia Pacific listed electronics, information technology, textile and clothing as the fastest growing industries in chemical applications in the short and medium term, which benefited from their huge consumption base and sustained strong growth. Demand growth in the construction industry is expected to slow, despite the size of the market. The scale of automobile, mechanical and electrical equipment and other production bases remains large, and the growth rate is equivalent to the GDP.
The chemical, electronics and textile industries are the targets of China's top chemical producers
In order to develop and expand these high potential application markets, chemical companies can:
① Determine the application market and growth potential of specific chemical fields
① Explore the needs and preferences of existing and potential customers in high potential application markets
① Investigate competitors and their best practices in key application markets
Corporate and business strategies based on these facts and local insights will lead to greater success for chemical companies.
