21 April 2005 11:57 [Source: ICIS news]
GUANGZHOU (CNI)--China’s styrene monomer (SM) demand is expected to increase to 6.34m tonne in 2010 from 5.03m tonne in 2005, said Wang Huifen, deputy chief economist of Sinopec Guangzhou, on Thursday.
Speaking at the China Petrochemicals & Feedstocks Summit 2005 being held in Guangzhou, Wang forecasts that China would continue to see a strong demand for SM, with demand coming from acrylonitrile butadiene styrene (ABS) and polystyrene (PS).
He estimates that consumption of SM from the PS sector would reach 3.3m tonne in 2005 and this figure would rise to 3.8m tonne in 2010. Consumption from ABS would also increase to 1m tonne in 2010 from 600,000 tonne in 2005.
Wang did not reveal historical consumption figures for SM.
Chinese imports of SM are expected to narrow because of new capacities coming onstream between 2004 and 2006.
Wang said the SM production in China would increase from the current 1.04m tonne to 1.88m tonne in 2005, and to 5.37m tonne in 2010.
The huge capacity increment was mainly due to new plants brought and to be brought onstream by Changzhou Donghao Chemical (150,000 tonne/year), Shanghai Secco Petrochemical Co (500,000 tonne/year) and CNOOC & Shell Petrochemicals Co (560,000 tonne/year).
Sinopec Guangzhou currently produces 80,000 tonne/year of SM in Guangzhou, Guangdong.
Organised by IBC Asia, the two-day conference ends on Friday.
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