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[“in the first half of the year, the economic operation of my country’s petrochemical industry has reversed the overall decline in revenue, profit, and total import and export volume last year, and is showing the trend of ‘bottoming out and stabilizing’ that we predicted at the beginning of the year.” fu xiangsheng, vice president of the petrochemical federation, said at the 2024 national petroleum and chemical industry economic situation analysis conference held in august. ]

in the past less than a year, ilham kadri, ceo of syensqo group, has visited china three times.

"last september, shanghai mayor gong zheng invited us to select shanghai as the chinese headquarters of synsqo. now we have confirmed it and started the relevant registration work." kailan told caixin during her visit to china at the end of august this year that the chemical industry has bottomed out, and the company's performance this year has shown a trend of recovery from quarter to quarter, and the growth performance of the chinese market is better than the global market. although overall demand has not yet returned to the level before the epidemic, she sees more opportunities than obstacles in china, so she is "100% confident in the chinese market, the chinese economy and china's future."

faced with the general trend of bottoming out and recovery in the chemical industry, foreign giants with innovative technologies continue to increase their layout in china, and also target sub-sectors such as batteries, green hydrogen, renewable materials and biotechnology.

sales volume improved but challenges remain

the chemical industry has bottomed out and recovered, which is a common consensus in the industry this year. however, while sales have improved and performance has recovered, facing the relative weakness of overall demand, industry insiders are still cautiously optimistic about the recovery in the second half of the year.