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Strong regional demand contributes to steady growth of Asias petrochemicals segment

May 24/2011

(ICIS) -- Asias petrochemicals segment is expected to grow steadily this year and the next because of strong regional demand, although environmental issues will pose a challenge, an industry leader said late on Monday.

In view of the economic fundamentals, steady growth [of the petrochemical industry] is expected for 2011 and 2012, owing to strong demand from the emerging economies, chairman of Japan Petrochemical Industry Association (JPCA), Kyohei Takahashi, told ICIS via email.

China, the worlds second biggest economy, together with India a fast-emerging market where, industry sources say, even basic polymers are growing at double-digit percentage rates are both considered to be the main engines of growth in Asia with high demand for petrochemicals.

Takahashi, who is also the representative director and chairman of the board at Japanese chemical company, Showa Denko K.K., was speaking ahead of the regions biggest industry event the Asia Petrochemical Industry Conference (APIC) 2011, which will be held at Fukuoka in Japan on 26-27 May.

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