So far, 2014 has not been a great year for all, according to exhibitors at the 9th Flame-retarding Fiber Materials, Engineering and Modified Plastics Exhibition, held in Shanghai Oct. 20-22.
“The economy in general isn't as good, so it's affecting all industries. This year isn't a good year,” said Min Yifei, a sales rep from Jiangsu Yoke Technology Co. Ltd. The company produces TCPP, a flame retardant for polyurethane foam products, including exterior insulation materials.
Min said that it's common in his industry to have sees prices drop 3-5 percent this year.
“When the economy is bad, we have to lower prices. If this continues next year, some companies may have to close.”
Another representative of a company producing nylon, polycarbonate, polybutylene terephthalate, polypropyelene and PET for use in tools, electrical equipment, furniture and cars said sales have dropped 20 to 30 percent from last year. “We'll have to think about our costs,” he told Plastics News.
But others are experiencing an upswing in sales.
Jiangyin YOBO, a chemical company located west of Shanghai that makes PU materials for use in airplane seats, train seats and infant car seats for the domestic market and Southeast Asia, reported a sales increase of 10 percent from last year.
“People's living standards are getting higher, so demand is growing,” said sales manager Yin Zhi Wei. The company hopes to grow its market outside of Asia.