Global chemical giants pay close attention to new materials development

Recently, the US "Chemical Weekly" released the "2011 global chemical industry research and development top 50 list." Among the top ten companies, R&D investment accounts for 11% of the higher sales revenue, and the lowest is 3% or more. Many companies have rushed to the technical commanding heights by vigorously developing functional products and high-performance new materials.

As the basic chemical products business is greatly affected by the industrial cycle, the marginal profit of scale production is declining, etc., the implementation of the growth strategy of functional chemicals and specialty chemicals business, the shift of business portfolio to high-growth, high-profit areas has become The common choice of chemical giants. Taking Dow Chemical as an example, its business portfolio focuses on specialty chemicals and high-performance chemicals. Currently, 65% of global operations are specialty chemicals and functional chemicals, and special chemicals and functional chemicals businesses in China. The ratio is even as high as 99%. Under this portfolio of businesses, Dow's R&D investments are more likely to focus on specialty chemicals and functional chemicals such as electronic chemicals, coatings, and construction and packaging materials, agrochemicals, automotive chemicals, and water treatment technologies. According to statistics, from 2006 to 2010, Dow's total investment in research and development reached US$9 billion, and the expected return was about US$31 billion.

Coincidentally, DuPont has also increased R&D investment in high-performance chemicals, high-performance coatings, high-performance materials, safety and protection. In 2010, 85% of DuPont's R&D resources were concentrated in these areas. BASF practices “customer-oriented R&D” and its research and development capabilities are increasingly invested in specialty and specialty chemicals. Bayer's research and development in the chemical industry is mainly focused on agrochemicals and materials technology. From the business structure of Monsanto Chemical Company of the United States and Syngenta of Switzerland, their R&D investment is almost concentrated in the field of agrochemicals and biotechnology.

The research and development investment in new materials and refined products is favored, representing the development strategy of international chemical companies. At present, Sumitomo Chemical's sales of new materials and fine chemical products account for half of its total sales. Companies such as Mitsubishi Chemical and Sumitomo Chemical are focusing on these areas, such as new energy and electronic chemicals, new resins and next-generation composite materials, new membrane materials, and new products and materials for medicine, agriculture, and so on. (Wang Peng)

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