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On April 4th, BASF, the world's leading chemical company, revealed a major investment plan to boost its presence in the Asia-Pacific region. The company announced a €10 billion (approximately $13 billion) investment between 2013 and 2020, with the goal of creating around 9,000 new jobs in the area. This move highlights the growing importance of the Asia-Pacific market for the global chemical giant.
According to BASF’s statement, the chemical industry in the Asia-Pacific region is expected to grow at a compound annual rate of 6.2% by 2020, outpacing the global average of 4%. With this strong growth potential, BASF aims to achieve sales of €25 billion (around $32.5 billion) in the region by 2020. The company sees this as a key opportunity to strengthen its position and meet rising demand across various sectors.
To support this expansion, BASF plans to significantly increase its local workforce, especially in research and development. By 2020, the number of R&D personnel in the Asia-Pacific region is expected to rise from about 800 to 3,500. This means that one-quarter of the company’s global R&D efforts will be based in the region. Additionally, 75% of products sold in the Asia-Pacific will be manufactured locally, reinforcing BASF’s commitment to localization and long-term growth.
The company also emphasized its intention to deepen partnerships with local businesses and explore mergers and acquisitions to further integrate into the regional market. These strategies are part of a broader effort to tailor products and services to the unique needs of the Asia-Pacific consumers.
Looking ahead, BASF plans to introduce a range of innovative solutions tailored to the region’s growing market demands. These include low-carbon construction materials, advanced pharmaceuticals, eco-friendly coatings, sustainable packaging, energy-efficient vehicles, and renewable energy technologies. The company will also focus on agricultural solutions that use fewer resources, as well as products supporting affordable housing, food diversification, wind energy, and water purification—especially for the rising middle class in the region.
As the world’s largest chemical company, BASF reported global sales of €72.1 billion (about $93.7 billion) in 2012, with approximately 110,000 employees worldwide. In the Asia-Pacific region, the company operates over 100 production sites and maintains an R&D and innovation center in Shanghai, China. This latest investment underscores its long-term vision for the region and its confidence in the future of the chemical industry there.