Bayer MaterialScience is expanding its HMD plant in Shanghai to meet growing demand for paints and adhesives in the automotive, construction, textile and footwear industries.
The new expansion project has already broken ground and is expected to be completed in 2016. By then, the HDI production capacity of Bayer MaterialScience's integrated production base in Shanghai will increase by 50,000 tons/year. Before that, the factory's HDI production capacity was 30,000 tons/year. .
Bayer MaterialScience said that China’s middle class is growing and its demand for high-end end products is rapidly rising. According to the forecast of McKinsey & Company, the proportion of middle-class population in Chinese cities will reach 76% by 2022, which was only 4% in 2000.
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