SOURCE: Radiant Insights, Inc.

Radiant Insights, Inc.

March 01, 2016 05:45 ET

China Synthetic Resin Market Growth and Forecast Report: Radiant Insights, Inc.

SAN FRANCISCO, CA--(Marketwired - Mar 1, 2016) - China synthetic resin market entered a high-speed progress era, hence became the big producer & consumer of synthetic resin. The synthetic resin capacity of China in 2012 was more than 57 million tons, production was over 52 million tons, and consumption apparently was more than 79.4 million tons.

The China synthetic resin market is going to witness huge expansion in terms of capacity from 2013 to 2016 and in terms of production of polyolefin. SINOPEC Wuhan Industry had gone for operation in 2013 for Ethylene Project worth 8 hundred thousand ton/a getting 6 hundred thousand ton/a polyethylene and 4 hundred thousand tons/a polypropylene manufacture capability. Petro China Sichuan Petrochemical Company Ltd's 8 hundred thousand ton/a ethylene is going to add 6 hundred thousand ton/a polyethylene and 2.5hundred thousand tons/a polypropylene manufacture capability.

Browse full research report on "China Synthetic Resin Industry Report, 2013-2016" at -

The five major groups of China's synthetic resins are polyethylene, polypropylene, polystyrene, acrylonitrile-butadiene-styrene, and polyvinyl chloride. The biggest consumption was of Polyethylene. China's obvious consumption of polyethylene (PE) was more than 17.5 million tons; polypropylene (PP) followed polyethylene (PE) with more than 14.90 million tons. Polystyrene (PS) had over 2.75 million tons and acrylonitrile-butadiene-styrene (ABS) had more than 2.65 million tons.

There will be a gradual raise in the requirement of synthetic resin in China as the stabilisation of the economic recovery has already taken place. The successive commissioning is followed by the olefin plants which are domestic, production of synthetic resin is going to rise for that reason, and the alternative of home production for importation is going to expand.

The revenue was continuously increasing over the time due to growing demand of in house industries as well as demand by the foreign market. Nevertheless, downstream market such as manufacturing of domestic electronic appliance and construction of building are undergoing hardship as the government's incentives stopped. After many years expansion of output along with the improvement of technology, the market is now able to satisfy their domestic requirement.

The internal set of laws on the protection of environment is comparatively lesser than that of developed nations such as Japan and the United States. Major fall was observed in the domestic synthetic resin market due to the entry of many new foreign industries and thus increasing the competition.

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