What Challenges Will China’s Propylene Industry Face in 5 Years?
Lead: In recent years, more newly added propylene capacity has been put into operation as the C3 industry developed rapidly, and the propylene market started upgrading towards diversification, integration and scale. In the next five years, there will be a large amount of newly added capacity of propylene and downstream products, and the market competition will be fiercer with the continuous change in propylene industry pattern.
In the next five years, the newly added capacity of propylene and downstream products will continuously increase in China. The newly added capacity of propylene will reach around 40 million mt/a, and the downstream consumption volume is estimated to increase by 35 million mt. It is predicted that China’s propylene market will face oversupply in 2023.
The growth rate of propylene capacity rebounded in 2019, and much newly added capacity went into production in 2020.
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