The epidemic overlays the impact of oil prices, and the pattern of olefin aromatics industry accelerates.

On June 3, the 2020 Petrochemical Industry Development Conference, chaired by Li Bin, Vice President of the China Petroleum and Chemical Industry Federation, was held on the China Chemical News Agency's webcast platform. The meeting conducted an in-depth analysis of the adverse external environment such as the global epidemic spread and the continued low oil prices faced by the olefin aromatics industry since this year, discussed and looked forward to the future development of the olefin aromatics industry, and released the 2019 China Propane Dehydrogenation PDH Industry Report. It was pointed out that the unfavourable external environment will accelerate the production capacity of the olefin aromatics industry backward, and the industrial pattern will accelerate the remodeling of

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and aromatics are basic chemical raw materials, which plays an important role and significance in optimizing the structure of chemical products and promoting the development of national economy. Li Bin introduced that in recent years, China's light hydrocarbons and aromatics industry development pattern is quietly changing, large-scale refining into the peak production, propane dehydrogenation projects every place flowering, ethane lysate ethylene demonstration project steadily advanced, olefin downstream accelerated into the high-end, many enterprises transformation and upgrading pressure is huge, the industry pattern is being remodeled. Since this year, the whole industry is facing adverse external environment such as Sino-US trade friction, low oil prices and the spread of global epidemic, and more uncertainty has emerged in the development of the industry.
outbreak will hit the overall demand for the olefin aromatics industry hard, and reduced demand and increased production capacity will accelerate the elimination of backward production capacity in the olefin and aromatics industry, bringing merger and acquisition opportunities. Bohan, market editor at Argus Chemicals, said that in the new environment, companies that rely on fuel production will be hit hard, while integrated projects will be more resilient. The process of remodeling the olefin aromatics industry will be accelerated.
Bohan, the impact of the new crown outbreak and low oil price environment on different petrochemical industries varies. In the short term, profits in the ethylene and propylene industries were significant, as a result of falling prices for raw materials and a marked increase in downstream demand, while profits in polyester products such as PX, PTA and MEG were repaired, and the butylene industry was hit hard by the continued downturn in the downstream automotive market. In the medium to long term, good profits may not last and may lead to inventory build-up.
meeting, the Petrochemical Federation also released the first annual report of China's PDH industry, the 2019 China Propane Dehydrogenation PDH Industry Report. Zhang Wenjun, deputy director of the Industrial Development Department of the Petrochemical Federation, said that China is the world's largest producer and consumer of propylene, and PDH (propane dehydrogenation) is one of the important driving force to promote the development of China's propylene industry. Upstream, raw propane is basically dependent on imports, in the next few years with the substantial increase in domestic PDH production capacity, as well as a number of propane and butane as the main raw materials of steam cracking projects put into operation, domestic propane imports will also increase significantly, how to ensure supply is a matter to be considered. The propylene market downstream of PDH has become more competitive in recent years and there is a serious overcapacity. It is expected that by the end of 2020, domestic propylene production capacity will exceed equivalent consumption for the first time. With the further growth of domestic propylene production capacity, the domestic acrylic equivalent gap will gradually narrow, but still need to import some polypropylene special materials, elastomers and other downstream derivatives.
, experts from research institutions and industry companies also discussed advanced technologies in the olefin aromatics industry. Chen Superstar, deputy general manager of Shanghai Zhuran Engineering Technology Co., Ltd., made a comprehensive introduction to the domestic propane dehydrogenation complete set of technologies, Song Wenbo, chief expert of Sinopec Beijing Chemical Research Institute and director of the New Product Development Institute, analyzed the progress of high-performance technology of polyolefin resin, and Cao Chunshe, senior manager of ExxonMobil Catalyst and Technology Licensing Co., Ltd., shared a new liquid isomerization process of xylene circuit de-bottleneck and energy saving.
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