my country’s styrene industry is at the peak of production and production capacity will reach 20 million tons by the end of 2022

my country is a major producer of styrene, with a large number of domestic companies engaged in styrene production, including Yantai Wanhua, Maoming Petrochemical, Anqing Petrochemical, Tianjin Dagu, Shenghong Refining and Chemical, Lianyungang Petrochemical, etc. Competition in the styrene market is fierce. In recent years, with the increasingly stringent environmental protection supervision and the deepening of supply-side structural reform, the styrene market has gradually concentrated on large leading companies.

Styrene (SM for short) is an organic compound formed by replacing one hydrogen atom of ethylene with benzene. As an important organic chemical raw material, styrene can be used to produce styrene-butadiene rubber, polystyrene, foamed polystyrene and other products. Its downstream applications involve plastic products, pharmaceuticals, dyes, pesticides, synthetic rubber and other fields. In recent years, with the continuous release of market demand, my country’s styrene production capacity has expanded rapidly. At this stage, my country has become the world’s largest styrene producer.

According to the “2021 Styrene Industry Market Status and Investment Prospects Forecast Report released by the Industrial Research Center, as a bulk basic chemical raw material , my country’s market has a huge demand for styrene. Thanks to the continued growth of the domestic economy, my country’s styrene consumption continues to grow. It is expected that my country’s styrene consumption will increase from 12.8 million tons to 15.2 million tons from 2020 to 2022.

Thanks to the increase in new domestic production units, my country’s styrene production capacity continues to be released. From January to August 2021, my country’s new styrene equipment has been put into operation to reach 2.8 million tons. It is expected that the new production capacity in 2021 will reach more than 6 million tons. . At present, my country’s styrene industry is at the peak of production, and this trend will continue until 2022. It is expected that about 6 million tons of new styrene will be put into production in 2022, and my country’s styrene production capacity is expected to exceed 20 million tons by then. From the perspective of output, the growth rate of styrene output is not as fast as the growth rate of production capacity. It is expected that by the end of 2022, my country’s styrene output will reach 14.5 million tons.

From the perspective of new device processes, new styrene device processes include PO/SM co-production process, C8 extraction process, ethylbenzene dehydrogenation, etc. Among them, the PO/SM co-production process has low investment costs, good economics, large production scale, It has strong anti-risk capabilities and other characteristics, and its proportion of production capacity is constantly increasing. From the perspective of the import and export market, my country is still a net importer of styrene. However, with the continuous release of domestic production capacity, my country’s styrene self-sufficiency rate has gradually increased, and the total styrene imports have continued to decline. It is expected that in 2022, my country’s styrene imports will will drop to 1.45 million tons.

Industry analysts said that as a bulk basic chemical raw material, styrene has a wide range of application fields, huge market consumption, and is in a growing trend , In recent years, my country’s styrene production capacity has been continuously improved as related planned and under-construction projects have been put into production. In the next two years, my country’s styrene industry will be at the peak of production. While production capacity and output are increasing, the styrene industry structure will also be optimized, and industry development will continue to improve.