BASF launches material production unit in Zhanjiang

Germany-based chemicals maker BASF announced the launch of a thermoplastic polyurethane (TPU) facility on Thursday, its second plant to come on stream at the 10-billion-euro ($10.9 billion) Verbund site being built in Zhanjiang, Guangdong province.

The new plant will better enable BASF to meet growing demand in the Asia-Pacific, especially in the industrial, e-mobility and new energy sectors, said Martin Jung, president, performance materials, BASF, at a ceremony in Zhanjiang on Thursday.

The TPU market in the Asia-Pacific is expected to grow by an average 7.4 percent annually by 2030, he said, citing a sectoral research report.