By 2016, China's synthetic resin production is forecast to reach 70.58 mln tons, as per Sino Market Insight. China's synthetic resins mainly include five categories i.e. polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS) and acrylonitrile-butadiene-styrene (ABS), of which, PE has the largest consumption. In 2012 China's apparent consumption of PE was 17.9 mln tons; followed by PP with 14.98 mln tons; PVC, PS and ABS respectively 13.93 mln tons, 2.76 mln tons and 2.68 mln tons.
China's synthetic resin industry has entered the high-speed development period since 2000, thus becoming the world's big producer and consumer of synthetic resin. In 2012 its synthetic resin capacity, production and apparent consumption attained to 58 million tons, 52.133 mln tons and 79.473 mln tons, respectively. In 2013-2016, China's synthetic resin industry will continue to face massive capacity expansion, especially polyolefin products.
In 2013, Sinopec Wuhan Company's 800,000 tpa Ethylene Project went into operation, bringing new 600,000 tpa polyethylene and 400,000 tpa polypropylene production capacity; PetroChina Sichuan Petrochemical Company Ltd's 800,000 tpa ethylene plant will add 600,000 tpa polyethylene and 250,000 tpa polypropylene production capacity.
As China's economic recovery has stabilized, the demand for synthetic resin will also see a gradual increase; following the successive commissioning of domestic olefin plants, synthetic resin production will rise accordingly, and the substitute of domestic production for foreign imports will be increasingly expanded.
01-Oct-15 
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