19 May 2011 11:58 [Source: ICIS news]
LONDON (ICIS)--China will need 10m–13m tonnes/year of ethylene equivalent imports between 2011 and 2015 to satisfy demand from its petrochemical markets in addition to its expanding domestic capacity, a senior Japanese consultant said on Thursday.
Data compiled by Mitsubishi Chemical Techno-Research show that China has added the equivalent of three 1m tonne/year naphtha crackers each year in the 2009–2011 period, said Masaru Kani, an executive consultant with the organisation.
He was speaking in Cologne, Germany, at the Global Petrochemicals annual meeting organised by the World Refining Association (WRA), which ends on Thursday.
Current plans show that the rate of capacity addition will slow to closer to 2m tonnes/year of ethylene in the 2012–2015 period, Kani said in an earlier interview with ICIS. But he added that the petrochemical industry in China is becoming so big that it still needs this level of imports.
China’s petrochemical industry was supported by the government’s stimulus plan for 10 key industries, introduced at the start of 2009, but nevertheless continues to grow and demand imports, Kani said. The country is currently the second-largest ethylene producer in the world after the US, and its demand for petrochemicals is growing fast.
A 771-page Mitsubishi Chemical Techno-Research study, The Petrochemical Industry in China 2011, was published in February.
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