China's Consumption of Synthetic Resin to cross 45 mln tons by 2010

China is one of the five key synthetic resin consumption countries in the world as per a report buy Research and Markets. Since 2007, because the downstream demand increases rapidly, the production of synthetic resin has been on a steady ascending trend. The output of polypropylene has a sharp increase, which had an obvious effect on promoting the total output of synthetic resin. From Jan. to Oct. of 2007, the national accumulative output of synthetic resin reached 22.5 million tons, up 18.48% year on year and its growth rate was 0.55 percentage points higher than the same period of last year, of which, the accumulative output of PVC resin reached 7.2 million tons, up 20.37% year on year and its growth rate was 2.91 percentage points lower than the same period of last year; the accumulative output of polythene resin and polypropylene resin respectively reached 5.1 million tons and 5.2 million tons, up 17.29% and 22.82% year on year respectively and their growth rate respectively increased 2.68 percentage points and 7.17 percentage points than the same period of last year. As the key branch of petrochemical industrial chain, synthetic resin keeps a rapid increase and its output and production value both increased over 15%. Meanwhile, China synthetic resin has high dependency on the import, especially those special materials and high-grade materials. Because of this reason, though China is the biggest synthetic resin import country in the world, it cannot decide the price, especially the resin varieties that it cannot produce by herself, whose prices adopt the international price. At present, the crude oil price still keeps high and the prices of the resin products are also on an ascending trend all the time. Chinese clients have to accept all of these passively. The production units for the synthetic resin products such as polyolefin mostly depend on the foreign technology. Some manufacturers apply the domestic technology, yet only for small units. The self-development ability of the engineering plastics production technology is weaker and has not reached the industrial production standard. Chinese polystyrene equipment also adopts the technologies from abroad or Taiwan of China. So, achieving the independent innovation and strengthening R&D have become the common point of view for the global resin industry. In the long term, with the continuous development of China's technology and economy, the demand for the high-performance products will increase continuously. Maybe the supply cannot meet the demand in the high-performance synthetic resin market while the production capacity would be surplus in the general synthetic resin market. It is expected that China's consumption of synthetic resin will be above 45 million tons by 2010 and the average increase rate would be 6.5% in the next five years, of which, the growth rate of PE will be 6.6%, the growth rate of the high density material would be higher than that of the low density material; the growth rate of PP would be 8.9%, PVC 5.6%, PS 3.4% and ABS 4.8%. The prospective output would maintain a steady increase on the premise that the demand increases steadily.
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