China's ethylene gap expands to 40 percent in 2007. China's average annual growth rate of ethylene demand will exceed 11 percent in 2008. With higher dependence on imported ethylene, China has to import ethylene from the world for a long period of time, particularly related derivatives from Asia.
Currently, Sinopec, PetroChina, CNOOC are three oil giants in China. They have developed ethylene projects throughout the country, of which China Petrochemical has been a leader in ethylene production, with its output reaching more than half of the total production in China.
From January to October 2007, China's polyethylene resin production was 5.75 million tons, up 17.14 percent on year. Therefore polyethylene demand and supply gap in China is quite huge.
Fibre2fashion, News Desk - China
marketing@alchempro.com
