DuPont: Key Emerging Markets Recovering Faster Than Developed Economies   

DuPont sales in emerging markets grew by 80% in the past five years at a compounded annual growth rate of 16%, and accounted for nearly one-third of the company's US$30.5 billion sales in 2008. While 2009 emerging market sales estimates are expected to be down about 10% from US$9 billion in 2008, the company projects 2012 emerging market sales of about US$13 billion, according to DuPont Executive Vice President and Chief Innovation Officer Thomas M. Connelly.   
    "Our approach to growth outside the United States typically targets key fast growing industries as the increasing population needs more food, better infrastructure and transportation and a greater emphasis on safety and security." Take agriculture for example, DuPont has recently announced the addition of four new seed research centers in developing countries, which will extend the research leadership DuPont business Pioneer Hi-Bred has built. The new research centers include a multi-crop center in Ukraine; and corn research facilities in Beijing, China, and Udaipur and Vijayawada, India.
    In 2008, DuPont sales in China were nearly US$1.7 billion with a compounded growth rate of 14% over the last five years.
    "China is one of our most strategic markets globally. We have firm confidence in continued economic and social growth in China, and seen perfect match between the country's development priorities and the DuPont capabilities and offerings", said Dr Douglas Muzyka, DuPont Corporate VP and President of Greater China.
    "Next generation solar technology is a large market opportunity for DuPont in China," Muzyka said. DuPont is currently a major supplier to the crystalline silicon solar cell and module market. To support this fast growing industry, DuPont recently launched a Photovoltaic Technology Center at the DuPont China R & D Center in Shanghai to provide local customer technical support and product innovation.
   DuPont materials also are critical to next generation thin film photovoltaic modules, which hold the promise of better cost effectiveness for large scale commercial and utility applications and building integrated installations. DuPont launched a thin film photovoltaic subsidiary in Shenzhen of Guangdong province to focus on amorphous silicon thin film modules which will become operational later 2009.