Next, the chemical industry has benefited tremendously from China's economic growth of the past two decades. China's capacity could not be built fast enough to meet domestic demand, so chemicals had to be imported. This allowed West European and North American players to grow while their home markets were experiencing near stagnation.
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Growing importance of specialty chemicals: While China's chemical industry is still more oriented towards basic chemicals than the Western chemical industry, growth rates for specialty chemicals are about 2-5% higher depending on specific segment. In particular, private domestic companies increasingly enter this area.
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In Move Toward Consumption-Led Economy, Specialty and High-End Chemical Segments Will Further Expand A World Leader - The chemical industry in China is both a key driver and prime beneficiary of remarkable GDP growth.
Introduction. This profile provides a brief overview of the overall chemical and chemical products industry. More detailed information is available for select sub-industries in the other industry profiles available on this website.
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Chemical companies should also seek to establish contact with China's many research institutes; by collaborating with these institutes, companies could play a role in the definition of standards for chemicals usage across products and industries.
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China's Chemical Industry: Flying Blind? 2 Rosy expectations from headquarters about growth, profitability, and competition in China clash with the more realistic picture from the ground: New forces are reshaping the chemical
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Industry was 72.8% of China's gross domestic product in 2005.  Industry (including mining, manufacturing, construction, and power) contributed 46.8 percent of GDP in 2010 and occupied 27 percent of the workforce in 2007.
Moreover, a 6 percent growth rate in China represents a significant drop from a few years ago and heralds a slowdown in chemicals industry end markets, including automotive, construction, and pharmaceuticals, that enjoyed heady double-digit expansion for years.
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