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San Francisco, CA (PRWEB) December 26, 2012
Products from the Organic Chemical Material Manufacturing industry in China are widely used in many downstream industries and the industry's performance is closely related to the country's economic performance. In the five years to 2012, industry revenue is expected to grow rapidly at annualized rate of 18.8% to $175.7 billion. Currently, there are over 2,800 enterprises operating in the industry, with total employment of about 550,000.
The Organic Chemical Material Manufacturing industry in China has a low level of concentration with the top four companies accounting for 32.4% of industry revenue in 2012. Most of the large enterprises within this industry are petrochemical subsidiaries held or shared by the three large state-owned petroleum corporations: China Petroleum and Chemical Corporation (CPCC), China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC).
With the support of the Chinese government the industry is positioned to evolve to be low-input, low-consuming, low-discharge and highly efficient through the effective recycling and utilization of resources. Facing energy shortages, water shortages, and stricter environmental protection regulations, enterprises located in East China and Middle South China are expected to upgrade their production activities and move to a higher-value added industry chain, says IBISWorld.