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Aromatics are important basic chemical raw materials
Benefiting from the growth of the national economy and the driving force of downstream industries, China's aromatic products had a significant gap at one time, prompting the aromatics industry to gradually develop in the direction of refining and chemical integration
Toluene market is saturated and forced to export
Toluene is the leader in the aromatics family
In 2020, 6 new toluene plants will be added in China, some of which are of world-class scale, with new capacity of 2.
In order to ease the pressure on domestic production capacity, the export volume of toluene has increased rapidly in the past two years
Xylene stocks hit record highs repeatedly
Xylene is the second child in the aromatic family
With the successive commissioning of 10 million tons of integrated refining equipment, the domestic xylene capacity growth rate has increased significantly, with an increase of 4.
Not only has the production capacity increased, but imports have also put pressure on the xylene supply side
The increase in production capacity and imports caused xylene stocks to hit a new high
The pressure on xylene surplus in 2021 will be even greater
Paraxylene capacity becomes a burden
As the third member of the aromatic family, para-xylene was once a sweet pastry in the eyes of investors, a cash cow, and it used to be launched even at the risk of offending the people
The 13th Five-Year Plan is the peak of investment in China's petrochemical industry and refining and chemical integration projects.
The current severe excess pressure on paraxylene can be seen from the continuous increase in the total inventory scale
However, in terms of consumption, the downstream application of p-xylene is single