Asia Trends: China, The Growing Giant
China was the biggest chemical producer in 2010, followed by the United States, Japan, Germany and France. However, 12 of the top 30 chemical-producing countries are Asian, generating chemical sales of $1.35 trillion. This represents nearly 49% of the top 30 countries and 43.6% of the share of world chemical sales.
China’s rapidly growing manufacturing sector is driving much of the growth for a variety of chemical compounds used to create everything from electronics to fertilizers. But the growing affluence of China’s middle class is also creating demand for consumer products that rely heavily on chemicals in the manufacturing process.