China BTX Industry Chain Analysis
Aromatics are the most basic raw materials for organic chemical industry, among which benzene, toluene and xylene are the basic raw materials of petrochemical industry, hereinafter referred to as "BTX".
Industry characteristics |
Benzene |
Toluene |
Xylene |
Coal-based BTX |
Concentration degree |
Relatively high |
Relatively high |
Relatively high |
Average |
Integration degree |
Rising |
Rising |
Rising |
Small |
Technology barrier |
High |
High |
High |
Relatively high |
Supply-demand pattern |
Short supply |
Balanced |
Slight supply shortage |
Short supply |
Demand growth rate |
Relatively rapid |
Rapid |
Rapid |
Relatively rapid |
BTX is divided into oil-based BTX and coal-based BTX, extracted from petroleum and coal respectively. With the rapid development in recent years, oil-based BTX industry has been completely formed. Due to the high access threshold, most of the new production capacity are put into operation by large enterprises with sufficient capital strength. The coal-based BTX industry is in a period of slow development. The access threshold is relatively low, but its development is limited by environmental protection policies, capital and raw material supply.
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