2022 Styrene Industry Chain Capacity Expansion Outlook
2022 will be a year of continuous expansion of styrene production capacity. We will refine the capacity expansion of styrene industry chain next year from time and spatial dimensions, so as to judge the market change and development next year more clearly.
Time dimension: benzene supply will be tighter in H1, 2022 compared with styrene supply.
From the perspective of newly added production capacity, it is expected that in 2022, 3,510 kt/a of benzene, 6,750 kt/a of styrene and 7,280 kt/a of styrene downstream varieties will be put into operation. The specific commissioning conditions are as follows:
Convert the production capacity into output, the output of styrene into the demand for benzene, and the consumption at seven downstream varieties of styrene into the demand for styrene. In this way, the supply gap of benzene is large in the first half of 2022. Moreover, the styrene capacity increases more in the first half of 2022, and slows down in the second half.
Spatial dimension: the contradiction between benzene and styrene is the most obvious in North China.
From the perspective of regional capacity, there are differences in production capacity between regions, which will cause changes in regional supply and demand, so as to change the flow direction of goods. Benzene capacity is put into production most in East China, followed by South China. Styrene capacity is also the most put into production in East China, followed by North China. In the downstream industry of styrene, East China has the most production capacity, followed by South China. It also shows that East China is the main production and consumption distribution center of styrene industrial chain.
From the perspective of styrene downstream industries, ABS has the largest newly added capacity among the seven downstream industries, followed by PS and EPS. At the same time, in terms of time dimension, PS is put into production most in the first half of the year, followed by ABS and EPS. In the second half of the year, ABS was put into production the most, followed by PS and EPS. From the spatial dimension, PS is the most put into production in East China, followed by ABS and EPS. ABS is the most put into operation in South China, followed by PS and UPR. ABS is also the most put into operation in North China, followed by PS and EPS.
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