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2012 China's PO Market Analysis Report
Updated: 2013-01-11 09:05 Source: PUWORLD share:

Summary:

Supply and demand contradiction presents sharp in 2012. Import volume of PO edged up year by year since 2007. The number exceeded 300 kt in 2010 and is predicted to reach 500 kt by end of this year. Since chlorohydrination method has been inserted to “Elimination List” according to the twelfth “five-year” plan, there will be some shutdown of PO facility in China in the next few years and meanwhile several large-scale PO facilities to be put into operation.

PO is the intermediate between propylene and polyether polyol. According to IEA, international oil market is probably to keep bearish in the next few years. As a downstream product of naphtha, propylene price will keep firmed. In terms of downstream application, although furniture export has been affected by weak European and American markets and appreciation of the Rmb, furniture output this year still increased slightly compared to last year. What’s more, auto industry in China is still ascending. China has finished layout of most manufacturing bases (except Tibet, Qinghai and Ningxia) in the last decade. Growth rate in auto industry is said to keep above 15% in the next 5 years.

Growth rate in the most promising construction industry has been dented due to restriction policies. But demand growth rate in medium and small cities keeps grow. Once policy turns better, prospect of construction industry can be really immeasurable.

After ten years development, major demands lie in new demand from middle and western China as well as replacement in coastal cities and developed areas. General demand is going to slow down.

In general, prospect of PO application areas present healthy. Structural adjustment of capacity resulting from policies and environmental protection requirements as well as better-turning downstream demand will secure PO industry a bright future.

2012 China's PO Market Analysis Report.pdf.pdf

 

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