The hottest Korean LG is optimistic about China's

2022-08-17
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South Korea LG is optimistic about the Chinese PVC market

Mr. Luo Xiangzhen, vice president of PVC and plasticizer Department of South Korea LG company, expressed his views on the Chinese market. He believed that the PVC market was "depressed in the short term and optimistic in the long term". He said that the economic recession in the United States and Japan and the decline in crude oil prices have a great impact on the market in the short term, resulting in the downturn of PVC prices. However, from the perspective of China's market, the supply still exceeds the demand. The demand is more than million tons per year, while China's output is only more than 2 million tons per year, and about 1.5 million tons are imported every year. China is a huge market. In addition, due to the prevalence of "mad cow disease" in Europe, leather raw materials are reduced, which brings growth opportunities to PVC synthetic leather. It is expected that the demand in this regard will increase in the future

he said that China's economy is still developing rapidly, with an economic growth rate of 7% in 2001. With his years of experience, this growth rate is completely achievable. He predicted that if calculated according to the speed, the growth rate of PVC would be about 10%, and the demand for PVC in China would reach about 5million tons/year in the next few years. Moreover, the Chinese government is stepping up the western development, and the demand for PVC will continue to increase. There are many investment opportunities for foreign investors in China. In recent years, Taiwan manufacturers have also adjusted their strategies to seize the domestic market by building factories in the mainland

he said that the production scale and production capacity of Chinese manufacturers are relatively small, and the largest enterprises -- Qilu Petrochemical and Shanghai chlor alkali started business at the beginning of this month, with a maximum production capacity of only 300000 tons/year. Except that a few enterprises use ethylene method to produce PVC, most enterprises use carbide method to produce PVC by giving full play to the advantages of Linzhou auto parts industry, and the product quality is not high. In Asia, LG Corporation of South Korea is the second largest PVC manufacturer after Formosa Plastics (batteries need to store the electricity collected by solar cells Formosa). Including the production capacity of LG Dagu in Tianjin, China, its total production capacity is nearly 900000 tons/year, and its annual export to China is 300000 tons/year, which has a certain market share in China

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