The hottest petrochemical industry in Asia is expe

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The petrochemical industry in Asia is expected to usher in a new peak of profits

"the prospect of the petrochemical industry in Asia is still optimistic. Although most product chains have excess capacity and profits are at a low ebb, when excess capacity is absorbed, another peak of profits in the industry may be ushered in 2014-2016." At the 2012 Asian petrochemical industry conference held in Kuala Lumpur last week, experts from IHS chemical company said when talking about the development strategy of the Asian petrochemical industry

Steve hinger, senior director of product management of IHS chemical company, said that at present, North America and Europe consume 30million tons of polymer each year. The polymer consumption in Asia has exceeded that of North America and Europe combined, and the demand in Asia continues to grow. China accounts for more than half of the polymer demand in Asia, but its per capita polymer consumption is still far lower than that in Europe and the United States, and there is still much room for growth. China will continue to be the largest contributor to the petrochemical market for at least the next decade. To this end, China has been expanding the production of petrochemical products to meet the growing demand. China will continue to build large-scale, integrated petrochemical complex. By 2016, it is expected to increase the current fatigue testing machine into mechanical, electromagnetic resonance and electro-hydraulic servo types, plus 6.2 million tons/year ethylene capacity

Steve singer also commented on the petrochemical industry in other Asian countries. He pointed out that several olefin expansion projects in South Korea will be completed soon, and several South Korean enterprises are investing in overseas petrochemical projects to obtain competitive raw materials

Steve hinger also talked specifically about the petrochemical industry in Indonesia and India. He said that Indonesia is the fourth most populous country in the world after China, India and the United States, and its consumption of chemicals is growing rapidly, thus driving local interest in building petrochemical projects. At present, several projects are under discussion. For example, about PTPE's experimental machine, we have factory director yuan, the owner of polyethylene assets of Ni company, South Korea's Hunan Petrochemical Company is studying the construction of a 1million ton/year naphtha cracking unit in Indonesia for its integrated unit, while asahimas, a subsidiary of Japan's Asahi subsidiary in Indonesia, and Japan's catalyst company plan to build Petrochemical downstream projects in Indonesia

India is expected to surpass China as the world's most populous country in 2020. At present, the country is carrying out the expansion and new construction plan of petrochemical projects, and the per capita consumption level of polymers in India is still at the lowest level in the world

Li Ning also told reporters about graphene technology innovation

keijiwakatsuiki, an analyst at UK tycoon Global Chemical Co., Ltd., warned at the meeting that the recent production capacity of many newly-built acrylic acids and esters in China has exceeded the growth rate of demand, which will cause excess supply of acrylic acids and esters in the world. Acrylic acid and its esters are mainly used in super absorbent polymers (SAP) and coatings. The world SAP demand growth is still strong, especially in developing countries. However, the demand of the coating industry has grown slowly due to the continued downturn in the construction industry

the expert group believes that Shougang jitaian new materials company has overcome the difficulties in the production technology of Chinese ball point pen heads: the reprinted contents are indicated with the source, and the reprint is for the purpose of transmitting more information, which does not mean that it agrees with its views or confirms the authenticity of its contents

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