Read： 224
Time：2weeks ago
Source：Chemical flat head elder brother, change the world
In 2024, China's chemical industry has experienced unprecedented challenges and changes. Economic turmoil and consumer downgrades led to a market downturn, and some chemical products even recorded the largest losses in history. However, in the structural adjustment of the global chemical industry, the Chinese chemical market still shows its stability and development potential. This paper will review and analyze China's chemical industry in 2024 from the aspects of macroeconomic background, ethylene integration project construction, C2 industry chain strategic adjustment, polyethylene industry chain, ethylene oxide industry chain, styrene industry chain and EVA industry chain. Macroeconomic background, global economic turbulence and adjustment
the Federal Reserve cut interest rates: In 2024, the Federal Reserve cut interest rates three times. Although it eased the financial pressure on some countries, it also triggered an influx of "hot money" and disrupted the global economic order. The EU carbon border adjustment mechanism: the entry into force of this mechanism has exacerbated the fragmentation of the international trading system, the shrinking of cross-border investment, and the urgent need to repair the multilateral trading system. The expansion of the BRICS countries: Saudi Arabia, Egypt, the United Arab Emirates and other countries have joined the BRICS family, bringing new strength to global governance. Global trade growth: Global trade is expected to reach a record high of $33 trillion billion in 2024, but the growth rate of trade in services and goods is significantly different, and the trade gap between developed and developing countries is widening. Economic growth is slowing: The United Nations Conference on Trade and Development predicts that the global economy will grow at only 2.7 per cent in 2024 and 2025, lower than the average annual growth rate of the past 20 years. Ethylene integration project construction and production, a number of large-scale projects landed
luoyang Petrochemical: On September 12, Luoyang Petrochemical's one million-ton ethylene project was approved by Sinopec with a total investment of 27.8 billion yuan and is expected to be put into operation in December 2025. Yueyang region: on January 3, the 1 million-ton/year ethylene refining and chemical integration project in Yueyang region started with a total investment of 35.68 billion yuan. Nanjing Yangzi Yangba: On August 7, the light hydrocarbon comprehensive utilization project of Nanjing Yangzi Yangba Olefins Co., Ltd. was announced, with a proposed investment of 9.142 billion yuan. Wanhua Chemical: On June 29, the 200000-ton/year POE project of Wanhua Chemical Phase I was put into operation, and the 400000-ton POE project of Penglai Phase II is expected to be put into operation by the end of 2025. ExxonMobil: In December, ExxonMobil Huizhou Ethylene Phase I Project 1.6 million tons of ethylene plant to achieve the exchange. C2 industry chain strategic adjustment, enterprise transformation and upgrading accelerated
lanzhou Petrochemical: On June 3, the feasibility study report of Lanzhou Petrochemical Ethylene Transformation Project passed the review, and a joint construction agreement was signed on November 8. Luxi Chemical Industry: The total investment of the ethylene downstream integration project is 1.186 billion yuan, and the planned investment is 0.2 billion yuan in 2024. It is expected to be commissioned in December. Major events in the polyethylene industry chain, continuous expansion of production capacity
oil plant production: In 2024, China's polyethylene production capacity is planned to increase by 1.5 million tons, including Jiangsu Hongjing new materials 200000 tons, Yulong Island refining 1.3 million tons. CTO/MTO polyethylene: Sinopec Yingli 900000 tons of light hydrocarbon polyethylene production capacity, Inner Mongolia Baofeng 550000 tons and Ningxia Baofeng 250000 tons of EVA conversion LDPE production capacity increased. Overseas investment: On September 10, Sinopec participated in the construction of Kazakhstan's 1.25 million-ton polyethylene production complex project. The new plant was put into operation: from November 11 to 12, Sinopec yioxin (Tianjin) petrochemical co., ltd. officially started operation, including 300000 tons/year linear plant and 500000 tons/year low pressure plant. Yulong Petrochemical: In December, it plans to put into production multiple sets of polyethylene plants to further enhance its influence in the polyethylene market. Ethylene oxide industry chain big event, capacity and output growth steadily
the new capacity is limited: in 2024, the new capacity of ethylene oxide will be 250000 tons, the total capacity is expected to reach 9.11 million tons, and the output is expected to increase to 5.24 million tons, up 6% year on year. Seasonal rule of maintenance: maintenance is concentrated in February-July, with a total of 16 sets of equipment maintenance. The new unit is put into operation: in November, a 300000-ton/year ethylene oxide unit will be put into operation in Shandong, and it will be equipped with downstream ethoxylation products simultaneously. Styrene Industry Chain Events, Capacity Expansion and Trade Changes
production capacity continues to expand: Zhongtai Chemical 680000 tons/year plant put into operation, Shenghong Refining, Yulong Petrochemical and Beihai Refinery and other units in the third quarter to the end of the production. Changes in the trade pattern: imports fell sharply by 73.55 in the first half of the year, exports gradually increased, and net exports increased significantly. Anti-dumping measures: starting from June 23, China will continue to impose anti-dumping duties on imports of styrene originating in South Korea, Taiwan and the United States for a period of five years. International production capacity withdrawal: South Korea's LG Chemical closed its last styrene plant in Yeosu and officially withdrew from styrene production in South Korea; Ineos Benzene Collar announced that it will close its Canadian production base by June 2026. EVA Industry Chain Events, Capacity Growth and Oversupply
new plant put into operation: Ningxia Baofeng 250000 tons of EVA new plant start-up, Jiangsu Hongjing 200000 tons of plant is expected to be put into operation in the fourth quarter, the domestic EVA production capacity will reach 2.9 million tons. Integration project planning: Jiangsu Thorpe plans to invest about 7.128 billion yuan to build vinyl acetate and EVA integration project. Changes in the supply pattern: domestic EVA production capacity, output growth, external dependence fell to 33%, the export volume continues to increase, but in addition to photovoltaic products, other types of products such as foaming and other products appear oversupply situation. Through the review and analysis of the multiple dimensions of China's chemical industry in 2024, it can be seen that despite the many challenges, the Chinese chemical market still shows its strong resilience and development potential. In the future, with the gradual stability of the global economic situation and the continuous transformation and upgrading of the chemical industry, China's chemical industry is expected to usher in a broader development prospects. Source: Chemical Flat Head Brother, Hua Yi World* Disclaimer: the content contained in the Internet, WeChat public number and other public channels, we maintain a neutral attitude to the views in the article. This article is for reference only, exchange. The copyright of the reprinted manuscript belongs to the original author and organization. If there is infringement, please contact Huayi Tianxia customer service to delete it.
All Categories
Mainly
Polyurethane
Fine Chemical
.png)
