Taiwan’s booming semiconductor industry is driving rapid growth in the local chemical sector, with advanced materials becoming vital for the production of ever-smaller and more powerful chips. Fueled by major investments and strategic collaborations, Taiwan is poised to lead the global semiconductor chemicals market by 2030.
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Property tax rates revised to curb speculation The Legislative Yuan on April 9 passed the third and final reading of amendments to the Income Tax Act that aim to revise property tax rates. The amended law will take…
With over three decades of experience in the chemicals industry across markets in the West and Asia-Pacific, Kraton Formosa Polymers Corp. President Mike Wong knows how to run a successful business in a sometimes controversial sector. From negotiating and overseeing the successful formation of a joint venture, to ensuring the health, safety, and environmental standards…
Chemical manufacturers in Taiwan are concerned that new rules requiring the disclosure of hazardous substances in their products could compromise confidential business information (CBI). In November 2018, the Ministry of Labor (MOL) published an amendment to the Regulations for the Labeling and Hazard Communication of Hazardous Chemicals that requires disclosure of the substance’s Chemical Abstract…
Despite global economic headwinds, some makers in the sub-sector are continuing to perform well. Taiwan has been steadily moving into specialty chemicals in a bid to move up the global industry value chain. Specialty chemicals are sold based on their function or performance instead of composition. They often are designed to impact one specific aspect…
Given environmental pressures and limited scale, the sector sees just two options: move into specialty chemicals or invest overseas. Despite environmental and other challenges, Taiwan’s chemical sector continues to thrive. In 2018, the industry was forecast to grow by 4.88% – the highest growth rate of any industry in Taiwan – to reach NT$4.68 trillion…
The state-owned company looks to invest in high-value-added chemicals and green projects at home while exploring upstream opportunities overseas. The CPC Corp. was established in Shanghai as the Chinese Petroleum Corp. in 1946 and relocated to Taiwan three years later. The state-owned firm plays a crucial role in ensuring Taiwan’s energy security, and is also…
Article 23 of the School Health Act (SHA) prohibits schools from using raw or fresh foods that contain genetically modified (GM) ingredients and primary processed products. However, this provision, which was adopted in 2015 in the amended version of Article 23 of the SHA, prohibits schools from serving GM foods that have been fully accredited…
On January 1, 2017, Taiwan implemented Phase 4 of the Globally Harmonized System of Classification and Labeling of Chemicals (GHS). In accordance with Phase 4 of GHS, Taiwan will require chemical companies to make full disclosure of health hazards on a Safety Data Sheet (SDS). However, while many of Taiwan’s global counterparts require chemical companies…
Performance chemicals offer higher margins, but the entry barrier is also steep. After nearly five years of planning, evaluation, and construction, last fall the US$200 million factory of the Kraton Formosa Polymers Corp. (KFPC) started operations at the Mailiao complex of the Formosa Plastics Group (FPG). A joint venture between Taiwan’s FPG and U.S….
