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    Home > Chemicals Industry > China Chemical > The latest ICIS report says: Downstream demand leads the strong recovery of the petrochemical industry

    The latest ICIS report says: Downstream demand leads the strong recovery of the petrochemical industry

    • Last Update: 2021-10-12
    • Source: Internet
    • Author: User
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    The latest report released by ICIS recently stated that demand from China's automotive and infrastructure sectors is leading a strong recovery in the petrochemical and energy industries.


    The latest report released by ICIS recently stated that demand from China's automotive and infrastructure sectors is leading a strong recovery in the petrochemical and energy industries.


    The automobile market is gradually recovering, and the demand for raw materials is very strongThe automobile market is gradually recovering, and the demand for raw materials is very strong

    As the world's largest automotive market, China has demonstrated a strong economic recovery capacity in the post-epidemic period, and it is expected to continue until 2021 , which will further promote the demand for petrochemical products in the Asian market.


    As the world's largest automotive market, China has demonstrated a strong economic recovery capacity in the post-epidemic period, and it is expected to continue until 2021 , which will further promote the demand for petrochemical products in the Asian market.


    With the recovery of the automotive industry, the demand for dashboards, car interior panels, paints, coatings, helmets and tires will promote such as butadiene rubber (SBR) , butadiene acrylonitrile styrene terpolymer ( The supply of raw materials for ABS) , polymethyl methacrylate (PMMA) , maleic anhydride (MA) and phthalic anhydride (PA) increased.


    ICIS analyst Zhang Jiming pointed out that due to the large sales volume and low inventory of ABS in 2020 , it is expected that home appliance manufacturers will increase their purchasing plans in 2021 .


    ICIS senior analyst Michele Bossi said: "In 2021 , global demand for PMMA is expected to recover by 9% .


    Infrastructure projects accelerate the implementation of petrochemical raw material prices reboundInfrastructure projects accelerate the implementation of petrochemical raw material prices rebound

    In 2021, with the rapid implementation of major infrastructure projects, China, as the world's largest construction market, will lead regional growth.


    In 2021, with the rapid implementation of major infrastructure projects, China, as the world's largest construction market, will lead regional growth.


    Accordingly, ICIS expects that the demand for polyvinyl chloride (PVC) and polyethylene (PE) will remain stable in 2021 .


    It is understood that since 2020 Nian 9 since the beginning, since China unsaturated polyester resin (UPR) and alkyd resin industry demand rebounded sharply, Asia's PA and MA import prices rose by 65% ~ 70% .


    ICIS Petrochemical analyst Robert Searle said that the demand for PVC in Northeast Asia is expected to increase by 6% in 2021 due to the impact of China's construction activities and real estate investment growth .


    E-commerce sales have grown significantly, and demand for packaging materials blowoutE-commerce sales have grown significantly, and demand for packaging materials blowout

    According to data from the National Bureau of Statistics, from January to November 2020 , China's online retail sales reached 10.


    According to data from the National Bureau of Statistics, from January to November 2020 , China's online retail sales reached 10.


    Due to the needs of the packaging industry, it is expected that the demand for polypropylene (PP) , PE and polyethylene terephthalate (PET) will continue to grow in 2021 .


    Xu Rong, director of ICIS China’s market development, said that the adoption of more government stimulus measures to promote domestic demand is also in line with the outline of more attention to domestic growth proposed at the Fifth Plenary Session of the 19th Central Committee in November last year .
    This will cause the petrochemical market to start from the second quarter.
    A full recovery began.
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