(Yicai) Sept. 8 -- Belgian multinational chemical company Solvay has completed the expansion of its China Research and Innovation Center in Shanghai with the inauguration of a new research building.

The new building marks a significant step forward for Solvay in advancing innovation in China, the world's largest chemical market, the Brussels-based firm announced on Sept. 6. It features several laboratories, including a pioneering pilot hall dedicated to advanced materials applications, purpose-built spaces customized for both industrial applications and consumer goods research, Solvay added.

Established in 1997, Solvay's China R&I Center has grown into the company's third-largest research hub, with a team of around 170 scientists, engineers, and technicians. Since 2005, Solvay invested more than CNY4 billion (USD545.8 million) in the hub to better support local customers and fulfill the booming demand for innovative and sustainable solutions in the region, it noted.

"The Chinese market is strategically important in our global strategy, and we are willing to increase our investments to address the demands here," said Ilham Kadri, chief executive of Solvay. "With a stronger research force in China, we will accelerate innovations that drive circular economy solutions and a sustainable future in response to the global megatrends and the ever-changing local needs."

In addition to the research building, Solvay opened a Material Application and Development Lab in the eastern Chinese city to meet the growing demand for customized high-performance material solutions from the automotive, new energy, life solutions, pharmacy, smart devices, and semiconductor fields.

"We are continuously expanding our research and innovation competencies in China to meet the evolving demands in the fast-growing sectors," said Pascal Metivier, Solvay's head of research and innovation. "The new capabilities empower us to speed up the delivery of research results in a series of markets and foster closer cooperation with customers in the region."

Kadri is optimistic about the recovery of the chemical industry next year despite it remaining in the hardship. She told Yicai that her trip to China allowed her to meet many local consumers and clients and that almost all of the hundreds of clients who attended a recent meeting agreed that next year will be the time for a recovery and rise of the chemical industry.

Solvay is not the only foreign chemical company that has made progress in China recently.

DuPont's new Zhangjiagang plant will start production late this month. BASF's EUR10 billion (USD10.7 billion) thermoplastic polyurethane facilities in Zhanjiang will come on stream in the second half of the year. Covestro put its two new Shanghai plants into operation last month. Evonik Industries announced it would hike the production capacity at its Shanghai plant in autumn.

Editors: Tang Shihua, Futura Costaglione