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According to the estimates of the American Chemistry Council (ACC), in the past 10 years, China’s chemical output value has increased by nearly seven times. It is expected that in 2009 China's chemical output value will reach 600 billion US dollars. China is likely to replace the United States in 2011 to become the world's largest chemical market. In 1998, the output value of Chinese chemicals was about the same as that of France, which was approximately US$90 billion. It exceeded Germany in 2002 and surpassed Japan in 2005. In 2009, it will be nearly twice the value of Japanese chemicals.