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Optimization and Development Trend of China’s Petrochemical Industry
Li Yujing, Chen Qingjun, Zhao Yunfeng
2017, 36(2):
1-7.
DOI: 10.3969/j.issn.1002-302x.2017.02.01
China ranks on the forefront of the world for its total petrochemical industrial output. However, the industry as a whole remains nothing powerful. The oil refining sector faces a series of issues, such as structural surplus in productivity, further division of the trend for oil products, upgrading of oil products quality, and rapid development of replaceable fuels. Olefin industry faces a series of challenges, such as slowdown of consumption and demand growth rate, increasingly intense competition, and structural shortage. Xylene is currently in serious shortage. PX exporters have a say in the market to a larger extent. Currently, China has become the largest PTA producer in the world. Shortage of PX makes the profit of the whole industrial chain dependent on others, highlighting the risks of the industrial chain. China’s petrochemical industry needs to convert its growth pattern in next few years, upgrading itself into an industrial power from an industrial major. It is necessary to focus efforts on six areas – optimize layout and adhere to integrated development, optimize structure of olefin raw material and lower oil crude consumption growth for higher cost competitiveness, step up technological innovation and enhance conversion of catalytic diesel, develop high-end products and improve domestic market consumption level, accelerate elimination of outdated productivity and promote industrial upgrading, and appropriately deregulate export of oil products
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