Plastic raw material maker eyes markets in Asia, Middle East

Taking advantage of the reduction in plastic item production in developed countries, including US and Europe, due to the ongoing global financial meltdown, LyondellBasell, a Dutch company who produces polypropylene and fuel, now eyes capturing Asian and Middle Eastern (ME) market, said the company's commercial director yesterday.

“Asian countries, including Bangladesh, are emerging as plastic products makers, while the production has reduced in the rich countries, hurt by the financial crisis worldwide. This scenario has prompted us to pay special attention to these markets,” Domenico Gigliobianco told a seminar in Dhaka.

LyondellBasell and Linkers (Far East) Private Ltd jointly organised the seminar on Presence of LyondellBasell in the Region and the Value for Our Customers.

Linkers (Far East) Private Ltd, a Singapore based company, is the sole agent of LyondellBasell in Bangladesh.

The LyondellBasell official further said, “Bangladesh is an important market for us, as its RMG and plastic furniture manufacturing has experienced a huge growth, which requires polypropylene.”

Bangladesh, the plastic goods market size of which is worth Tk 4,000 crore a year, imported $40 million polypropylene, polyethylene and spherizone, the raw materials for plastic goods, last year.

Lauding that Bangladesh is doing well in plastic furniture, Gigliobianco said, “Bangladesh, who also produces plastic hangers for the RMG industry, a front on which it has showed a tremendous performance, creates a huge prospect for exporting plastic goods.”

He also pointed to the fact that the market for plastic products in Asian and Middle Eastern countries is growing at six percent in recent years. The global production of polypropylene will double and reach 3500 million tonnes by 2013.

Currently, the local plastic industry fetches Tk 600 crore a year from exports, while the country has potential to export goods worth Tk 1200 crore, according to industry insiders.

Local plastic products include hangers, various sheets, including polycarbonate sheets, PP sheets, HIPS sheets and polystyrene sheets, billboards, POPs, POSMs, dispensers, pipe, home appliances, luggage, danglers, banner stands, shop signs, kiosks, road safety signs, scroll signs, tri-vision, zigzag signs, automated moving signs and electro-magnetic signs.

Deepali Kelekar, technical and innovation manager of LyondellBasell, and Rezwanul Haque, country manager of Linkers (Far East) Private Ltd, were also present at the seminar.