China has become the world's largest and most important market for polycarbonates, BayerMaterial Science said on Wednesday during an international plastics and rubber industry exhibition.
"In 2011, 60 percent of the global PC market is in Asia Pacific, and China occupies 50 percent of that," said Michael Koening, head of Polycarbonates Business Unit of Bayer MaterialScience, the leader in global PC market and PC-based solutions.
In order to better adjust to this market and understand customers' technical requirements, Bayer relocated its polycarbonates business unit's headquarters to Shanghai last year.
Just offering cheaper prices won't strengthen the product's presence in the Chinese market, Koening said. "I believe products like polycarbonates need innovation, which means we should come up with new ideas and solutions to very specific requirements," he noted.
As a means to cope with trends such as climate change, increasing urbanization and mobility and an aging population, Bayer has been active in developing new applications of the PC material.
Currently, they are cooperating with Shanghai Changchong New Energy Technology Co, Ltd, by providing a polycarbonate material for electrical vehicles chargers.
About 300 charging stations are ready for installation in Shanghai, and this year will see another 2,000 manufactured, said Holly Lei, vice-president of the business unit polycarbonates, Bayer MaterialScience (China) Co, Ltd.