The main petrochemical products such as butadiene, benzene, toluene and xylene reached 1. 1.28 million tons, accounting for a quarter of the world's total output (in the same period, the US output was 63.3 million tons, accounting for 1.4%). It is predicted that the petrochemical industry in China will continue to maintain a high growth rate of 6.2% in the next five years.

Although China petrochemical industry started late compared with foreign petrochemical industry, it has the opportunity to choose the latest generation of petrochemical refining technology, including several leading technologies of Honeywell UOP, and get faster development. Huge domestic demand, unparalleled large-scale projects and comprehensive government support have also created a good development environment for China petrochemical industry.

The Present and Future of China Petrochemical Industry

China's huge domestic demand market and increasing self-sufficiency rate.

Huge domestic demand and growth potential are the main competitive factors for China to become the largest petrochemical production center at present and in the future.

In the next 3-5 years, China is expected to increase the number of middle class1-200 million, which will become a key factor to promote consumption. The expected economic growth rate of around 6.5% in China will generate stable petrochemical demand and ensure the further healthy development of the industry.

During the "Thirteenth Five-Year Plan" period, a major goal of the petrochemical industry is to further achieve self-sufficiency, which will also promote the expansion of domestic production bases. Domestic production capacity increment and compound annual growth rate far exceed other countries and regions in the world, which will lay a solid foundation for China producers to grow into global giants.