WACKER Silicones has a good development momentum in China

Global Silicone Network News: Shanghai, April 19, 2021-Despite the challenges, the Munich-based Wacker Chemie Group announced that its sales in the Chinese market for 2020 will only drop 0.3% from the previous year. Constrained by unfavorable exchange rates and insufficient supply of raw materials for silicone products, WACKER's sales in Greater China amounted to 1.025 billion euros (2019: 1.05 billion euros). Thanks to the expansion of domestic consumption and the upgrading of manufacturing, WACKER Greater China is expected to resume growth in 2021.

After experiencing the uncertainty caused by the outbreak of the new crown epidemic in early 2020, as the epidemic is gradually brought under control, WACKER's sales in Greater China have rebounded strongly since the second quarter. Throughout 2020, customer demand for most WACKER products is high.

Although insufficient supply of raw materials restricts sales, WACKER Silicones, the group's largest business unit, has developed well in China, especially in applications such as renewable energy, electronics and consumer products.

Both WACKER Polymers sales and sales volume have increased. Due to the recovery of China's construction industry, the growth of construction polymers is particularly strong.

"Looking forward, China has set a modest GDP growth target of more than 6% in 2021. It can be seen that China pays more attention to high-quality development. WACKER will benefit from this. Our innovative products can contribute to the growth of domestic consumption in China. And provide support for the upgrading of the manufacturing industry,” said Limbaugh, President of Wacker Chemicals (China) Co., Ltd. In addition, China’s 2060 carbon neutral target also creates opportunities for WACKER’s many environmentally friendly products, such as polysilicon for photovoltaics, silicone products for electric vehicles, power transmission and distribution, and energy-saving solutions for the construction industry. . Limbaugh also said: “As all our business units expect sales to increase in 2021, WACKER Greater China is confident that it will resume growth this year.”