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Petrochemicals Industry in China
Taiyou Research, Aug 2011, Pages: 120
China's petrochemical industry is set to enter a key transition period during the 12th Five-Year Program period (2011-2015). Although the current high oil price affects the development of the petrochemical industry, the trend of the industry in general towards growth will not be changed. At present, China ranks second in the world in its capacity for primary petroleum processing, fifth in the production capacity of both ethylene and synthetic resin, fourth in the production capacity of synthetic rubber and first in the production capacity of synthetic fiber.
The industry has to deal with problems such as weak competitiveness, shortage of products due to irrational structure and other bottlenecks. The petrochemical industry needs adjustments in product structure, imports of resources, concentration in the refining sector and an expanded ethylene production capacity. The petrochemicals from Japan and South Korea, which already accounts for more than 40% of China's imports, will accelerate their shipments to China as their domestic economies remain weak. However, the Chinese petrochemicals industry continues to surge amidst growth in capacity, with the latest reports estimating ethylene capacity of 17.9mn tpa and polymer capacity of 43.9mn, tpa in 2011, both of which have doubled over five years.
Sinopec is strengthening its position as a leading chemicals producer with 2 million tpa of ethylene capacity added to its operations in 2010, lifting capacity to 9.5 million tpa.
The global financial crisis has made the world economy drop considerably and has caused large fluctuations to global crude oil prices, therefore, sparing no country from suffering the aftermath of high crude oil prices. The slowing of economic growth has evidently reduced the increase rate of petrochemical product demands. Recently, a petrochemical plant in the northeast Chinese city of Dalian, was shut down after large-scale public protests which could lead to further increase in shortage of naphthalene supply. Now, China needs to think things over and carry out its plans accordingly in order to achieve stability in this industry.
In this industry scenario, Taiyou Research analyzes the Petrochemicals Industry in China. The report covers the following:
- An analysis of the global petrochemicals industry in the aftermath of the Japan earthquake and the nuclear disaster in Japan. We analyze the global petrochemicals industry in 2011 and an outlook for the industry.
- An analysis of the petrochemicals industry in Asia in order to establish the importance of the Chinese petrochemicals industry in the region.
- An analysis of the petrochemical industry in China including market profile, production statistics of petrochemicals, upstream activity, olefins market in China, intermediates market in China, market for coal-based chemicals, and the challenges facing the industry.
- A SWOT analysis of the Chinese petrochemical industry is carried out, along with a look at industry trends and major projects in the industry.
- Regulatory framework impacting the Chinese petrochemical industry are analyzed.
- Major industry players are analyzed through a company overview, analysis of business segments, a look at their major products and services, and a SWOT analysis. For the market leader, Sinopec, we analyze the company strategies as well.
- An industry outlook completes this in-depth analysis of China's petrochemical industry.
Taiyou Research’s report on the Petrochemicals Industry in China is a complete profile of this growingly competitive industry in China that is fast making its presence felt across the world.
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