Huntsman eyes $ 30 mn biz from India, China

Global manufacturer of differentiated chemicals Huntsman Advanced Materials said it is looking to consolidate its position in India and China and expects to achieve a business of $ 20-30 million from these countries in the next 5 years.

"India and China offer immense opportunities for us, with the construction industry in these countries growing at a phenomenal pace of 15-20% per annum as against 3-5% growth in USA and Europe," Andy Walton, global marketing manager (construction) for Huntsman, told PTI.

Total market size of the construction materials segment in India and China is estimated to be about $ 700 million and it is growing at a good pace, he said at the launch of Araldite 'Karpenter' adhesive in India.

Huntsman has a manufacturing facility in Chennai with a capacity of 30,000 tonne blr (base liquid resin) per annum. Apart from it, the group also has six manufacturing facilities in several other countries.

It caters to wide range of industries including power, automotive, electronics, aerospace, wind, telecommunications and construction.