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  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Review and Prospect of Chinese Market of Phenol and Acetone

    Review and Prospect of Chinese Market of Phenol and AcetoneMarket of Phenol and AcetoneMarket of Phenol and Acetone

    CPICSingapore 18th April 2013

    CPICSingapore 18th April 2013Singapore,18th April,2013Singapore,18th April,2013

    [email protected]

    Copyright CNCIC Consulting

    1

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    CONTENT Current status of China phenol/acetone industry Forecast for China phenol/acetone industry Conclusions

    1

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    China accounted for 12% of global phenol capacities and 15% global phenol Current status

    WORLD PRODUCTION OF PHENOL 2012

    g p p g pconsumption.

    WORLD CONSUMPTION OF PHENOL-2012

    United States

    Other Regions9% United States

    Other Regions8%

    WORLD PRODUCTION OF PHENOL-2012 WORLD CONSUMPTION OF PHENOL-2012

    United States26%

    Oth A i

    United States21%

    Other Asia32%

    China

    Other Asia30%

    China15%

    32%

    Western Europe23%

    12%

    Western Europe24%23% 24%

    Producers of phenol are mainly located in Asia, United States and Western Europe In 2012, global phenol capacity was 10750kt/a; Chinese phenol capacity was 1295kt/a

    I 2012 l b l h l ti 9600kt Chi h l ti 1470kt

    Source: CNCIC

    In 2012, global phenol consumption was9600kt; Chinese phenol consumption was 1470kt

    2

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Current status

    China accounted for 11% of global acetone capacities and 21% global acetone

    WORLD PRODUCTION OF ACETONE 2012 WORLD CONSUMPTION OF ACETONE 2012

    g p gconsumption.

    United States26%

    Other Regions10%

    United States

    Other Regions11%

    WORLD PRODUCTION OF ACETONE-2012 WORLD CONSUMPTION OF ACETONE-2012

    26%

    Other Asia30%

    19%

    Other Asia26%

    China

    China21%

    26%

    Western Europe23%

    11%

    Western Europe23%

    Around 90% of acetone is produced through cumene process. Another 10% of acetone is produced through IPA dehydrogenation process and by-product of cresol manufacture from cymene

    In 2012, global acetone capacity was 6750kt/a; Chinese acetone capacity was 785kt/a

    Source: CNCIC

    In 2012, global acetone consumption was 5950kt; Chinese acetone consumption was 1240kt

    3

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    All of phenol/acetone in China is produced through cumene process.Current status

    p p g p

    Producing 1t of phenol can co-produce around 0.62t of acetone Major technology providers include KBR (1230kt), Mitsui Chemicals (260kt) j gy p ( ), ( )

    and UOP (590kt)

    Benzene0.855 t

    Cumene

    Phenol1 t

    Propylene0.5 t

    1.315 tAcetone

    0.62 t

    1

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Current status

    Chinese phenol/acetone capacity increased rapidly in recent years. p p y p y y

    CHINESE PHENOL/ACETONE CAPACITY FROM 2002 TO 2012kt/a

    CAGR15.3%

    CAGR12%

    CAGR of global phenol/acetone capacity was 3% from 2007 to 2012 By the end of 2012, the capacity of phenol in China is 1.3 million tons and that of acetone is

    roughly 800 kt

    Source: CNCIC 5

    roughly 800 kt

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    By the end of 2012, there were 8 phenol/acetone producers in china.Current status

    Bluestar HaerbinSinopec Beijing Yanshan

    y p p

    Jilin Petrochemical company 120kt/a

    Bluestar Haerbin120kt/acompany260kt/a

    Sinopec/SABICTianjincompany 350kt/a

    company120kt/a

    Lihuayi Group350kt/a

    Sinopec Shanghai Gaoqiaocompany360kt/a

    HuiZhou Chung Shun Chemical company200kt/a

    Shiyou Chemical320kt/a

    p y

    Source: CNCIC 6

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Current status

    Share of state-owned company in Chinese phenol/acetone producers

    TYPES OF PHENOL/ACETONE PRODUCERS IN CHINA

    p y p pdecreased gradually from 2006.

    %

    Sinopec accounted for 56% ofChinese phenol/acetone capacityp p yin 2011, but in 2012 it fell to 38%

    PHENOL/ACETONE CAPACITY OF STATE-OWNED COMPANY IN CHINA-2012

    PHENOL/ACETONE CAPACITY OF FOREIGN FUNDED COMPANY IN CHINA-2012

    State-owned Company

    Name Capacity (kt/a) %in Total

    Foreign Funded Company

    Name Capacity (kt/a) %in Total

    Sinopec 795 38

    PetroChina 120 6

    ChemChina 120 6

    Kingboard 520 25

    SABIC 175 8

    Sub-total 695 33

    Lihuayi Group 350 17

    Sub-total 1385 67 7

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Current status

    There has always been a supply-demand gap in the phenol market and the y pp y g p pforeign dependence was 40% in 2012.

    OUTPUT AND DEMAND OF PHENOL FROM 2002 TO 2012 IN CHINA

    kt

    CAGR16%

    CAGR8%

    Chinas demand for phenol has been steadily increasing over last 10 years In 2012, Chinas phenol demand stood at 1.5 million tons

    Source: CNCIC 8

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Supply-demand gap of phenol decreased 21% in 2012.Current status

    SUPPLY-DEMAND GAP OF PHENOL IN CHINA

    kt

    pp y g p p

    Gap=Demand-Output Phenol import by countries

    (2012): Thailand (18%), Spain(16%) J (14%) T i(16%), Japan (14%) , TaiwanProvince (14%) and Singapore(12%)

    LOCATION OF SUPPLY-DEMAND GAP OF PHENOL IN CHINA

    Supply-demand gap was mainly locatedin Jiangsu Province Shandong Provincein Jiangsu Province, Shandong Province,Zhejiang Province and Fujian Province

    Supply-demand gap in these 4 provinceswas 370kt/a, accounting for 65% of total.

    Source: CNCIC

    , g

    9

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Current status

    There is a strong demand for acetone in China and the foreign dependence g g preached 56% in 2012.

    OUTPUT AND DEMAND OF ACETONE FROM 2002 TO 2012 IN CHINA

    CAG 9%

    kt

    CAGR20%

    CAGR9%

    In 2012, Chinas acetone demand stood at over 1.2 million tons There has been a larger supply-demand gap in the acetone market than phenol

    10

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Current status

    Supply-demand gap of acetone decreased 7% in 2012.

    SUPPLY-DEMAND GAP OF ACETONE IN CHINA

    kt

    pp y g p

    Acetone import by countries(2012): Taiwan Province (23%),United States (21%), Thailand( )(11%), Korea (10%) andBelgium (9%)

    LOCATION OF SUPPLY-DEMAND GAP OF ACETONE IN CHINA

    Supply-demand gap was mainly locatedin Jiangsu Province, Shandong Province,Zhejiang Province , Fujian Province,Guangdong Province and Jilin Province

    Supply-demand gap in these 6 provinceswas 400kt/a accounting for 58% of total

    Source: CNCIC

    was 400kt/a, accounting for 58% of total.

    11

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    What foreign investors are concerned about is if there will still be a large Current status

    g gsupply- demand gap of phenol/acetone in China in the future.

    SUPPLY-DEMAND GAP OF PHENOL IN CHINAkt

    SUPPLY-DEMAND GAP OF ACETONE IN CHINA

    kt

    12

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    CONTENT Current status of China phenol/acetone industry Forecast for China phenol/acetone industry Conclusions

    13

  • ChinaNationalChemicalInformationCenter CNCIC Consulting

    Capacity expansion of phenol/acetone is expected to be over 4000kt/a.Forecast

    Construction Unit Capacity(kt/a)

    Phenol(kt/a)

    Acetone(kt/a)

    Location Schedule Finish Time

    Shanghai Sinopec Mitsui Chemicals 400 250 150 Shanghai 2013

    p y p p p

    Shanghai Sinopec Mitsui Chemicals 400 250 150 Shanghai 2013

    CEPSA 400 250 150 Shanghai 2013

    Formosa Chemicals & Fibre 480 300 180 Liaoning 2013Formosa Chemicals & Fibre 480 300 180 Liaoning 2013

    Changchun Group 480 300 180 Jiangsu 2013

    Xinjiang Datang Jiulong 160 100 60 Xinjiang 2014Xinjiang Datang Jiulong 160 100 60 Xinjiang 2014

    Qidong Sedin New Materials (CNCEC) 200 125 75 Jiangsu 2014

    Jiangsu Yangnong Chemical group 350 220 130 Jiangsu 2014Jiangsu Yangnong Chemical group 350 220 130 Jiangsu 2014

    Sinopec Beijing Yanshan company 200 125 75 Beijing 2014

    INEOS Phenol 650 400 250 Jiangsu 2015INEOS Phenol 650 400 250 Jiangsu 2015

    Jiangsu Haili Chemical Industry 480 360 220 Jiangsu 2015

    Beijing Huifuyuan 320 200 120 Xinjiang 2017Beijing Huifuyuan 320 200 120 Xinjiang 2017

    Total 4220 2630 1590 14

    CPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-1.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-2.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-3.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-4.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-5.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-6.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-7.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-8.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-9.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-10.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-11.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-12.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-13.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-14.pdfCPCI2013-8-Grace-Review and Prospect of Chinese Market of Phenol and Acetone-15.pdf