A few days ago, the approval report for the largest domestic 650,000-ton/year phenol/acetone project was completed by the world's largest phenol and acetone producer, Ineos Phenol, and Yangzi Petrochemical . The 400,000-ton/year phenol is currently domestic The largest production plant of its kind. According to industry sources, domestic phenol plants are experiencing a surge in production. After these facilities are put into production next year, there will be an excess of phenol production in China.
Phenol is mainly used in the fields of synthetic resins, plastics, medicines, and pesticides. The consumption of phenolic resin and bisphenol A to phenol accounts for more than 60% of its total consumption. In 2011, China's phenol production capacity was 880,000 tons. The current production capacity reached 1.1 million tons, and the actual annual output reached about 92 million tons.
In recent years, the demand for phenol in the Chinese market has increased year by year, and the increase has been large. In 2010, the apparent consumption reached 1.4 million tons, up 16.7% over the previous year; in 2011, the apparent consumption reached 1.6 million tons. 12.1%. As domestic phenol production is far from meeting market demand, China's imports have increased rapidly in recent years. In 2009, China imported 560,000 tons of phenol, and in 2010 it imported 630,000 tons. In 2011, it imported 760,000 tons. Due to the large market demand, domestic phenol devices are generally driven by 120% load.
At present, due to negative factors such as the spread of the European debt crisis and slowing domestic economic growth, the demand in the end markets such as the domestic construction industry, the auto industry, and the household electrical appliance industry has shrunk significantly, resulting in the downstream industries of phenolic resin, water reducer, polycarbonate and bisphenol A. The sharp drop in demand has resulted in a significant drop in market purchasing power, and the turnover of the phenol market has been sparse. In April this year, the 320,000 tons of phenolic ketone plant put into operation by Shiyou Chemical (Yangzhou) Co., Ltd., which has a production capacity of 200,000 tons/year of phenol, equivalent to an additional 20,000 tons of supply per month, downstream With weak demand, market pressure has increased.
Despite the current weak market operation, phenol production has been insufficient for many years, and domestic companies are still looking forward to the phenol market. Starting from last year, large-scale expansion of the domestic phenol market, in addition to Ineos and Yangzi Petrochemical joint-venture construction of 650,000 tons / year phenol and acetone project, the Lihua Yi Group 350,000 tons / year phenol acetone, Xisa Chemical (Shanghai) Co., Ltd. production capacity 250,000 tons/year phenol, Taiwan Phenol (Ningbo) Co., Ltd. 300,000 tons/year phenol, Shanghai Sinopec Mitsui Chemicals Co., Ltd., with a capacity of 250,000 tons/year phenol, all started construction last year and will be put into production in 2013. .
Yu Xiaohong, an analyst at Zhongyu Consulting, said that in 2013, it is expected that the newly added capacity will be 1.827 million tons/year, and the total phenol production capacity is expected to reach 2.9085 million tons, and the output is expected to reach about 3.4 million tons. If the apparent consumption of phenol is increased by 10%, the consumption of phenol in China will reach 1.988 million tons in 2013. By then, the production and demand pattern of phenol in China will change, the output will exceed the consumption, and the import volume of phenol will gradually decrease. Ketone importing countries are gradually transformed into exporting countries. As the country's largest production facility, the 400,000-ton/year phenol project that Ineos Phenol Co., Ltd. and Yangzi Co., Ltd. has jointly built will have annual production capacity equivalent to the national one-year import volume, and the market will be greatly squeezed.
According to insiders, from 2013 to 2015, the domestic pharmacol industry will enter a period of rapid development. In addition to the above-mentioned devices, there are Jiangsu Ruisheng New Materials located at Yizheng's 355,000 tons/year phenol ketone and Taiwan Changchun Chemical at Changshu. The construction of a phenolic ketone plant with a capacity of 320,000 tons/year has led to a significant increase in domestic phenol production capacity. At the same time, due to the rapid growth of global phenol production capacity, there has been a surplus in recent years, and new and expansion devices are almost all concentrated in Asia. New products will inevitably enter the Chinese market, and the phenol market will become more competitive.
In addition, it is even more noteworthy that, since phenol production in China mainly uses the cumene process, acetone is a by-product of phenol, and approximately 0.6 tons of acetone is produced per ton of phenol produced. The phenol-ketone plant was constructed in accordance with the demand for phenol, and the expansion of the phenol plant resulted in a corresponding expansion of the production capacity of acetone. As domestic phenols are developing faster than acetone, domestic and foreign phenol-ketone units continue to expand, resulting in a serious excess supply of acetone, which will further exacerbate the weak pattern of phenolic ketones.
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