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- Production capacity warning: The ratio of epoxy propane production c
- By 2025, the production capacity/demand ratio of epichlorohydrin will reach 176%, resulting in overcapacity. The production capacity/demand ratios of polypropylene and acrylonitrile are 106% and 118% respectively. Among them, polypropylene will face structural overcapacity and declining operating rates due to the large import volume of high-end varieties, and acrylonitrile will also face the pressure of declining operating rates.
1. Acrylic
China has abundant sources of propylene. In 2020, steam cracking, catalytic cracking, methanol to olefin, and propane dehydrogenation facilities were all built and put into operation. The annual increase in propylene production capacity was 7.76 million tons/year, and the total production capacity reached 47.03 million tons/year, an increase of 20% compared to 2019. The average annual growth rate of production capacity from 2016 to 2020 was 9.5%; In 2020, the utilization rate of propylene production capacity in China was 77%. Between 2020 and 2025, China will add 20 million tons/year of propylene production capacity, with an average annual growth rate of 6.7% from 2020 to 2025.
In 2020, China's demand for propylene was 38.59 million tons, with a self-sufficiency rate of 94%. It is expected that the average annual growth rate of propylene demand in China will be 8.3% from 2020 to 2025; In 2025, the production capacity/demand and total supply/demand will be 113% and 117% respectively.
2. Polypropylene
In 2020, China's polypropylene production capacity increased by 3.7 million tons per year, with a total capacity of 28.16 million tons per year, an increase of 15% compared to 2019; In 2020, the utilization rate of polypropylene production capacity in China was 91%. Between 2020 and 2025, China will increase its polypropylene production capacity by 17.69 million tons per year, with an average annual growth rate of 10.2%.
In 2020, China's demand for polypropylene was 31.59 million tons, with a self-sufficiency rate of 81%. It is expected that the average annual growth rate of polypropylene demand in China will be 6.4% from 2020 to 2025; By 2025, the production capacity/demand and total supply/demand will be 106% and 120% respectively.
3. Epoxy propane
In 2020, China had no new production capacity for epoxy propane, with a total capacity of 3.21 million tons per year; In 2020, the utilization rate of epoxy propane production capacity in China was 80%. Between 2020 and 2025, China will add 4.62 million tons/year of epoxy propane production capacity, with an average annual growth rate of 19.5% from 2020 to 2025.
In 2020, China's demand for epichlorohydrin was 3.08 million tons, with a self-sufficiency rate of 83%. It is expected that the average annual growth rate of epoxy propane demand in China will be 7.7% from 2020 to 2025; In 2025, the production capacity/demand and total supply/demand will be 176% and 187% respectively.
4. Acetone
In 2020, China added 370000 tons/year of acetone production capacity, with a total capacity of 1.96 million tons/year, an increase of 23% compared to 2019; In 2020, the utilization rate of acetone production capacity in China was 75%. Between 2020 and 2025, China will add 500000 tons/year of acetone production capacity, with an average annual growth rate of 4.7% from 2020 to 2025.
In 2020, China's demand for acetone was 2.2 million tons, with a self-sufficiency rate of 67%. It is expected that the average annual growth rate of acetone demand in China will be 12.8% from 2020 to 2025; By 2025, the production capacity/demand and total supply/demand will be 61% and 79% respectively.
5. Bisphenol A
In 2020, the total production capacity of bisphenol A in China was 1.79 million tons per year, with a capacity utilization rate of 88%. Between 2020 and 2025, China will add 1.98 million tons/year of bisphenol A production capacity, with an average annual growth rate of 16.1%.
In 2020, China's demand for bisphenol A was 2.13 million tons, with a self-sufficiency rate of 73%. It is expected that the average annual growth rate of bisphenol A demand in China will be 11.3% from 2020 to 2025; By 2025, the production capacity/demand and total supply/demand will be 104% and 119% respectively.
6. Polycarbonate
In 2020, China added 280000 tons/year of polycarbonate production capacity, with a total capacity of 1.94 million tons/year, an increase of 17% compared to 2019; In 2020, the utilization rate of polycarbonate production capacity in China was 49%. Between 2020 and 2025, China will add 1.79 million tons/year of polycarbonate production capacity, with an average annual growth rate of 13.9%.
In 2020, China's demand for polycarbonate was 2.34 million tons, with a self-sufficiency rate of 41%. It is expected that the average annual growth rate of polycarbonate demand in China will be 9.3% from 2020 to 2025; In 2025, the production capacity/demand and total supply/demand will be 102% and 137% respectively.
7. Epoxy resin
In 2020, the total production capacity of epoxy resin in China reached 2.21 million tons per year, with a capacity utilization rate of 55%. Between 2020 and 2025, China will add 300000 tons/year of epoxy resin production capacity, with an average annual growth rate of 2.6% from 2020 to 2025.
In 2020, China's demand for epoxy resin was 1.56 million tons, with a self-sufficiency rate of 78%. It is expected that the average annual growth rate of epoxy resin demand in China will be 4.0% from 2020 to 2025; In 2025, the production capacity/demand and total supply/demand will be 132% and 149% respectively.
8. Acrylic acid
In 2020, China's acrylic acid production capacity was 3.36 million tons per year, with a capacity utilization rate of 79%. Between 2020 and 2025, China will add 1.04 million tons/year of acrylic acid production capacity, with an average annual growth rate of 5.5% from 2020 to 2025.
In 2020, China's demand for acrylic acid was 2.66 million tons, with a self-sufficiency rate of 100%. It is expected that the average annual growth rate of acrylic acid demand in China will be 7.9% from 2020 to 2025; By 2025, both production capacity/demand and total supply/demand will be 113%.
9. N-butanol
In 2020, China's n-butanol production capacity was 2.59 million tons per year, with a capacity utilization rate of 72%. Between 2020 and 2025, China will add 530000 tons/year of n-butanol production capacity, with an average annual growth rate of 3.8% from 2020 to 2025.
In 2020, China's demand for n-butanol was 2.15 million tons, with a self-sufficiency rate of 87%. Expected annual growth rate of n-butanol demand in China from 2020 to 2025 is 8.0%; By 2025, the production capacity/demand and total supply/demand will be 99% and 108% respectively.
10. Isooctanol
In 2020, China's isooctanol production capacity was 2.38 million tons per year, with a capacity utilization rate of 87%. Between 2020 and 2025, China will add 210000 tons/year of isooctanol production capacity, with an average annual growth rate of 1.7% from 2020 to 2025.
In 2020, China's demand for isooctanol was 2.35 million tons, with a self-sufficiency rate of 88%. It is expected that the average annual growth rate of demand for isooctanol in China will be 6.8% from 2020 to 2025; In 2025, the production capacity/demand and total supply/demand will be 79% and 87% respectively.
11. Acrylonitrile
In 2020, China added 260000 tons/year of acrylonitrile production capacity, with a total capacity of 2.6 million tons/year, an increase of 11% compared to 2019; In 2020, the utilization rate of acrylonitrile production capacity in China was 86%. Between 2020 and 2025, China will add 980000 tons/year of acrylonitrile production capacity, with an average annual growth rate of 6.6%.
In 2020, China's demand for acrylonitrile was 2.47 million tons, with a self-sufficiency rate of 90%. It is expected that the average annual growth rate of acrylonitrile demand in China will be 4.2% from 2020 to 2025; By 2025, the production capacity/demand and total supply/demand will be 118% and 125% respectively.
Supply and demand balance of major products in the propylene industry chain in 2020 and 2025
2020及2025年丙烯产业链主要产品产能/需求比例
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