BASF implements “We create chemistry” strategy in Asia Pacific

To achieve sales of EUR 25 billion to customers in the region by 2020, BASF’s Asia Pacific strategy “grow smartly” outlines investments of EUR 10 billion, the creation of some 9,000 new jobs, and annual savings of  EUR 1 billion. Around 25 % of BASF’s global R&D will be conducted in Asia Pacific by 2020, to develop innovative solutions that address the region’s challenges of resource efficiency, food and nutrition, and quality of life.

“In the next decade, Asia Pacific will face huge challenges while remaining the fastest growing market for the chemical industry. With our Asia Pacific strategy, we are positioning BASF as the leading provider of sustainable solutions for the Asia Pacific region,” said Brudermüller. “Based on our strong global R+D network, we will considerably strengthen our innovation capabilities in Asia Pacific, enabling us to better serve our customers in all industries in the region.”

BASF estimates the cumulative annual growth rate (CAGR) for real chemical production through 2020 for Asia Pacific at 6.2 %, well above the world average of 4 %. According to its strategy, BASF intends to grow profitably at least two percentage points above regional chemical production to achieve sales of EUR 25 billion in Asia Pacific by 2020.

BASF said it will collaborate with customers in focus markets to provide solutions for applications such as low-carbon construction, advanced pharmaceutical production, environmentally-friendly coatings, more sustainable packaging, energy-efficient vehicles, renewable energy, and solutions for less resource-intensive agriculture.