Oct
Address The Key Chemical Industry Overcapacity, Structural Adjustment
Petrochemical business is extremely cyclical business, because of its technology-intensive and capital-intensive, high expense out of the characteristics of petrochemical industry will inevitably lead to cyclical fluctuations. Soon after 2002, in developed countries Economy Recovery as properly as China, India, Russia and other countries, driven by rapid economic growth, the globe chemical business elevated the development of re-entering the cyclical period. 2004 to 2007, globe prices of chemical market in the business cycle peak, but also for the duration of the rapid development of China’s chemical market, its growth rate in the history of the chemical market are rare, every single year Sell Revenue grew 30% to 35%, 25% profit growth. Huge market and greater profitability and stimulate investment in the market, so that the rapid expansion of domestic production capacity of chemical plant, resulting in some excess capacity. The outbreak of the monetary crisis, but also to the issue of excess capacity prominent.
Excess performance: a structural surplus and excess phase
Present, China’s calcium carbide, coke, methanol, dimethyl ether, nitrogen fertilizer, compound fertilizer, “two bases”, acetate, polyvinyl chloride ( PVC ) And other industry overcapacity, are really conspicuous, capacity utilization dropped considerably. China Oil And Chemical Industry Association statistics, in June, soda ash, caustic soda, calcium carbide, PVC, methanol, phosphate fertilizer market unit starts had been 83%, 83.4%, 78.4%, 51.1%, 44%, 56%. In 2009, is expected to reach 63 million tons of urea capacity of about 53 million tons in yield of about four,500 tons of aggregate demand, is the history of the most significant overcapacity of urea a year. In addition, the coke production capacity surplus in more than 30%, much more than 70% of DME production capacity idle.
Overcapacity performance stage for the structural surplus and excess. Structural surplus manifests itself in several aspects: Very first, the irrational structure of raw materials, such as oil heads to change the material structure in gas, natural gas, gas might also be ripe to take into account appropriate in gas, raw supplies products far distance to carry out structural adjustment of raw materials and decrease transportation expenses of raw supplies 2 is the product structure is irrational, far more common and dependable, low value-added products Third, technological backwardness, lack of innovation, enterprise competitiveness is weak fourth, the enterprise structure is irrational, devices are too small, will undoubtedly lead to high consumption Energy Low efficiency. Stage surplus primarily as follows: economic development in the globe a better time, such as 2003 and 2007, tight supply of numerous items, so on a number of projects, but a economic crisis, these projects will become redundant construction, leading to excess capacity at the present stage. Though the economy is recovering now, but it needs a slow process, not all of a sudden return to 2007 levels, then the excess capacity is now quite simple ones.
In addition, ought to also be viewed on the worldwide overcapacity. For example, differences in the first half of the price of huge domestic and foreign alcohol, leading to an influx of foreign low-cost alcohol, specially by oil related gas as raw material, the Middle East, importing large quantities of methanol, a severe impact on the domestic market. According to incomplete statistics, from 1 June, China’s methanol imports 350 million tons, accounting for 40% of total supply. By the impact of imports of methanol, methanol costs lower than the inland port. This shows that the global chemical market place has entered an era of relative surplus of economic globalization to the globe industry closely linked to immune development ideas has come to an end.