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China Market Insider How Climate Protection Opens Up New Opportunities for the Chemical Industry in China
Climate protection can open up new markets for the chemical industry in China on a large scale in the coming decade. This also applies to European companies. As the chemical newspaper Zhongguo Huagong Xinxi Zhoukan reports, additional market demand of around 1.4 trillion Chinese yuan (about 222 billion dollars) will arise for several specific specialty chemicals needed for climate change.
The planned decarbonization of the Chinese economy is creating ‘a large number of new business opportunities for the chemical industry,’ writes the trade publication. It says this is especially true for new businesses such as chemicals needed for renewable energy generation and storage technologies and similar green industries.
The market for photovoltaics is cited as the most important example. ‘Demand for products in all links of the industrial value chain will explode here,’ the report says. In this context, resources that will be increasingly needed include metallic silicon, ultra-pure silicon (polysilicon), silicon wafers, silver paste, carrier films, and fluoropolymer films.