India - A Potential Substitute:
As an alternative to the meticulous regulations of EU, some
Chinese chemical companies are planning to invest in India. Zhejiang Lonsen
Group Co Ltd, a dyestuff manufacturer of China has recently joined hands with
Kiri Dyes and Chemicals Ltd (KDCL), an Ahmedabad based manufacturer and
supplier of quality dyes and intermediates in the dyestuff industry. The project is proposed to be set up in Baroda, with an initial investment of US $10 million. The firm
will manufacture dyes as finished products, with an initial output capacity of
20,000 metric ton per annum (MTPA) and extend it up to 50,000 MTPA later.
Currently, China is the second largest consumer of chemical products in the world. It is more reliant of chemical imports, and demand for chemicals in China is expected to double by 2015. Industry experts forecast a growth from $195 billion
USD to $205 billion USD in 2008. China has bright opportunities in the global
market, after its entry into the World Trade Organization. Currently, increasing
environmental awareness has made the consumers to become more and more
concerned about health hazards, industrial pollution, and environmental impact
on the dispose and usage of chemical products. Significantly this places a pressure on the industries forcing them to adopt environmentally safe chemicals.
References:
- http://www.smartchinasourcing.com/
- http://www.echinachem.com/
- http://chinabizintel.com/
- "Emerging
Global Regulatory Environment Impacting Dye Industry", Dr. Pankaj Desai,
Head of R&D, Colourtex.
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