The petrochemical industry in Asia quietly changes

Affected by the significant increase in petrochemical capacity in China and the Middle East and the impact of low-cost petrochemical products in the Middle East, the Asian petrochemical industry is undergoing profound changes, mainly due to the following factors: China has grown to become the largest petrochemical producer in the Asia region; the Middle East is based on cheap The petrochemical production capacity of natural gas feedstocks grows rapidly; the demand for basic chemicals from China's rapid economic growth has great potential; the export of low-cost petrochemical products from the Middle East will force the closure of some ethylene plants in Asia, especially the impact on the Japanese ethylene industry. .

Sustained by the rapid economic growth, China's petrochemical production capacity is growing strongly. In 2005, China surpassed Japan for the first time to become the world’s second largest ethylene-producing country after the United States. By the end of 2009, China had an ethylene capacity of 13.9 million tons/year, and China will add 8.7 million tons/year of ethylene production between 2010 and 2015, accounting for 54% of the new ethylene production capacity in Asia during the period. By 2015, China's ethylene production capacity will exceed the sum of Japan, South Korea, and China Taiwan.

As the world's second largest population country, India has experienced rapid economic growth in recent years. India's petrochemical industry has also begun to accelerate its growth. India’s ethylene production capacity will also increase rapidly. India will add 4 million tons/year of ethylene capacity by 2015.