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San Francisco, CA (PRWEB) October 14, 2012
Revenue for the Basic Plastics and Synthetic Resin Manufacturing industry in China is estimated at $128.0 billion in 2012. Over the past five years, revenue has been growing at an annualized rate of 22.7%, says IBISWorld. Growth slowed in the latter years of the five-year period due to the lingering effects of the global economic crisis of 2009.
After years of output expansion and technological improvements, the industry is more capable of satisfying domestic demand. As such, imports as a share of domestic demand have fallen from dramatically. The share of exports in total industry revenue has also dropped significantly, but this decline is the result of weaker global demand stemming from the recession and the appreciation of the Chinese yuan.
The top four enterprises in this industry, the Sinopec Group, China National Petroleum Corporation, Yabang, and Zhenjiang Chimei, account for just over a quarter of industry revenue. Market share concentration within the industry dropped significantly as a large number of new companies entered and competition increased. Environmental protection regulations are more relaxed in China than in developed countries like the United States and Japan, which has attracted many foreign chemical giants like LG Chemical to China. These established companies brought with them advanced technologies and significant capital, increasing the level of competition.
With new production lines being put into use each year, competition within the Basic Plastics and Synthetic Resin Manufacturing industry in China will grow, says IBISWorld. In addition, the Chinese government is expected to increase its regulation of the industry with respect to environmental protections and energy efficiency, raising the barriers to entry.
For more information, visit IBISWorlds Basic Plastic and Synthetic Resin Manufacturing industry in China report page.
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IBISWorld Industry Report Key Topics
Companies operating within the Basic Plastic and Synthetic Resin Manufacturing industry in China produce primary plastic materials from oil and natural gas products. Major products of the industry include polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), and polystyrene (PS).
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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