2022The epidemic that has persisted throughout the year has superimposed international energy and food The supply is relatively tight, and industries, public consumption and manufacturing have all declined to varying degrees. As the effects of various policies continue to emerge, the overall economic operation is expected to pick up in 2023. First, after the change of the epidemic prevention policy, various places have passed the peak of the epidemic one after another, gradually promoting the economy to completely get out of the haze of the epidemic, bringing about the improvement of aggregate demand and the restoration of production capacity. Second, the coordinated efforts to expand domestic demand policies will, to a certain extent, offset the impact of weaker external demand on exports next year. Third, the impact of the epidemic on the economy in 2022 will lay a low base for economic recovery next year. It is estimated that the Chinese economy is expected to achieve growth of more than 5% in 2023.
As far as polyurethane raw materials are concerned, in 2022, under the macro and industry background of global inflation, repeated epidemics and continuous release of new production capacity,The market supply and demand pattern has changed from top to bottom,POThe market showed a trend of falling within a range and fluctuating within a narrow range.
China PO Market Price
2022 Year, China Changes in the PO market price are still more obviously affected by the dynamics and offers of manufacturers in Shandong. The average annual ex-factory price of bulk water cash in Shandong and North China is about 10,163 yuan/ton, a year-on-year decrease of 38.3%; the average delivery price of bulk water cash in East China is about 10,309 yuan/ton, a year-on-year decrease of 38.2%.
Figure 1 2021-2022 Propylene Oxide Price Chart in China
China PO production capacity & output
2022year The Taixing Yida project with an annual output of 150,000 tons of propylene oxide was successfully put into trial production, and Tianjin Bohua’s 200/450,000 tons PO/SM plant was successfully tested for the first time. The PO production capacity was further released, and the total production capacity increased by 14% to 4.897 million tons/year. At present, Zhejiang Petrochemical Phase II PO/SM project and Dongfang Shenghong 20/450,000 tons SM/PO plant are still under planning or construction, and China’s PO production capacity will continue to increase in the future. In 2022, the total domestic PO output will be 3.76 million tons, a year-on-year increase of 8.7%, which is a new high in recent years.
China PO Import and Export
<p style="tex1 2018-2022Southeast Asia and India Propylene Oxygen Capacity Review
6.2 Major propylene oxide producers in Southeast Asia and India
6.3 2018-2022Review of Propylene Oxide Demand in Southeast Asia and India
6.4 2023Prospects for Propylene Oxide Demand in Southeast Asia and India in 2019
6.5 2022-2023Propylene oxide price trend and outlook in Southeast Asia and India in 2019
Part 7: Analysis of Propylene Oxide Market in Japan and South Korea
7.1 Major propylene oxide producers in Japan and South Korea
7.2 2018-2022Review of Propylene Oxide Production Capacity and Demand in Japan and South Korea in 2019
7.3 2023Propylene oxide production capacity and demand outlook in Japan and South Korea in 2019
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