Chinese state-owned petrochemicals giant Sinopec (Beijing; www.sinopec.com) is planning to develop new materials for 3D printing as it moves away from oil production and processing. It has been reported that the Sinopec chairman, Fu Chengyu, has said that industrial parks and a research institute will be founded to accelerate the pace of innovation at the company. Industries embraced by the research projects will include biofuels, solar, wind and geothermal energy, environmental protection and 3D printing.

The company is focusing on new ways to grow over the next decade as the world oil market goes through a period of uncertainty. Fu is quoted as saying that lower forecast crude oil prices in 2015 had led to the company’s move away from the industry and a shift in its focus from traditional oil and gas provision to becoming a science-based petrochemicals company.