BASF eyes opportunities in Asia Pacific to propel future growth

German chemicals giant BASF will leverage opportunities in Asia Pacific, the largest market for production and consumption of chemicals, to drive growth in future. “We are well positioned in Asia Pacific, the world’s largest market for the production and consumption of chemicals. We are leveraging the growth opportunities of the region to contribute to the overall success of BASF Group,” said Sanjeev Gandhi, member of the board of executive directors of BASF SE and responsible for Asia Pacific, at the roundtable for investors and analysts in London on September 23, 2016. 

BASF expects gross domestic product and chemical production in Asia Pacific to continue to outgrow other regions, despite the recent slowdown. “China did not grow as fast as we had assumed. We saw low growth in mature Asian markets. India and South East Asia are picking up slightly. Overcapacities in some commodity product lines have contributed to a changing business environment. However, even under the ‘new normal,’ Asia Pacific is the growth engine for the world economy. We still see great potential for BASF as the fundamentals have not changed,” continued Gandhi.