China becomes the second largest market for DOW

China has become the second-largest market for Dow and the country's ongoing green transition offers the US materials science giant substantial opportunities for further cooperation in the years to come, said a company executive.

"The strong demand for sustainable development from the Chinese market, including electric vehicles, sustainable packaging materials and environmentally friendly coatings, presents Dow with numerous opportunities," said Puay Koon Chia, Dow Asia Pacific President, on the sidelines of the ongoing sixth China International Import Expo.

"We are looking to explore potential collaborations and partnerships with Chinese partners to enhance business in the low carbon sector. Dow will leverage our global resources in combination with local development and service capabilities to provide customized solutions for local customers."

According to Chia, the dual carbon goals and high-quality development in China have brought significant opportunities for Dow, which has further strengthened the company's confidence in the Chinese market.

The company will continue to strengthen its innovation and manufacturing capabilities in the country in the years to come, as China's economic policymakers have assured greater efforts to attract foreign capital, widen market access and ensure a level playing field for both domestic and foreign companies, she said.

"The silicone manufacturing site in Zhangjiagang, Jiangsu province, is our most invested location. I think the growth is tremendous and we're definitely going towards that," she said.

The manufacturing site in Zhangjiagang, China's largest facility of this kind and among the world's biggest and most advanced integrated silicone production sites, is expected to serve fast-growing demand for silicone materials in China and Asia, she said.

Dow signed a Memorandum of Understanding (MoU) with the Chinese company ZKH Group Limited during this year's CIIE. According to the MoU, Dow will provide ZKH with silicone products valued at $300 million to sell via online platforms, as well as with product and technical consulting services.

"The CIIE is an important platform for us to showcase our latest innovative technologies for China and the Asia-Pacific region. It is a one-stop display of our R&D expertise and manufacturing know-how and highlights the valuable partnerships we have in China," she said.