TAIPEI, Taiwan--(BUSINESS WIRE)--According to statistics compiled by the Industrial Technology Research Institute’s Industrial Economics & Knowledge Center, the volume of plastics used in Taiwan each year exceeds 5,908,000 metric tons, requiring the use of at least 296,000 metric tons of plastic additives. However, in 2009 Taiwan’s plastic additives industry posted annual production value of approximately US$360 million, and annual production value of only around 144,000 metric tons; there was thus a shortfall of approximately 152,000 metric tons in the quantity of plastic additives that Taiwan was able to produce for itself. The main reason for this situation is that Taiwan lacks mineral resources, making it difficult to obtain the upstream raw materials required for the production of plastic additives. This same problem also restricts the development and adoption of new types of plastic additive product.
Taiwan has been working actively to promote the development of high-value plastics products, for example through the Promotion Plan for Building High-value-added Plastics Manufacturing Industry Clusters. Plastic additives are key materials that have a vital role to play in the development of high-value plastics.
Taiwan has many outstanding plastic additive manufacturers, such as Sunko Biotechnology. At the same time, market demand for plastic additives in Taiwan is very strong; the plastics used in manufacturing the products of leading Taiwanese brands such as Acer and ASUS require large quantities of plastic additives. The Economic Cooperation Framework Agreement (ECFA) signed between Taiwan and mainland China includes “complex stabilizers for use in rubber and plastics” in the Early Harvest List. By investing in Taiwan, mainland Chinese materials suppliers can provide plastic additives that Taiwan is unable to produce for itself for the use of Taiwanese brands whose products are marketed all over the world; in this way, these mainland Chinese companies will be able to become part of global supply chains.
In the new era that the Economic Cooperation Framework Agreement (ECFA) has ushered in, Taiwan is working actively to integrate resources, and expand exchange between companies. Cross-strait exchange and collaboration in the field of plastic additives would contribute to the pooling of the strengths of Taiwanese and mainland Chinese industry, and to industry upgrading and transformation, helping to create a bright future for the plastics industry. Taiwan has already opened up its markets to mainland Chinese investment in 204 areas. For more information about investing in Taiwan, visit the InvesTaiwan website at http://investtaiwan.org.