China's chemical suppliers have maintained a high rate of growth

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  • Published date: November 19, 2020
    • Badarpur, Assam, India
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In 2018, although the tense Sino US trade relations exacerbated the economic turbulence, China's chemical industry still maintained a high growth rate.

According to the data, in 2018, the annual investment of China's chemical industry increased by 6.0%, and the total output of major chemical products increased by about 2.3%, down 0.2 percentage points from the previous year. Among them, the total output of chemical fertilizer (converted into pure) was 54.596 million tons, a year-on-year decrease of 5.2%; the output of sulfuric acid was 86.364 million tons, with a year-on-year increase of 1.8%; the output of caustic soda was 34.202 million tons, with a year-on-year increase of 0.9%; the output of polysilicon was 325000 tons, with a year-on-year increase of 2.5%; the output of ethylene was 18.41 million tons, with a year-on-year increase of 1.0%; the output of pure benzene was 8.276 million tons, with a year-on-year increase of 4.7%; the output of methanol was 47 The total output of materials was 158 million tons, an increase of 7.5% year-on-year; the output of tire was 816 million, with a year-on-year increase of 1.0%.

As early as 2010, China's petrochemical industry surpassed the United States with a total output value of US $770 billion, becoming the world's No. 1 chemical supplier. In the following years, China's petrochemical industry continued to maintain rapid growth, reaching nearly 40% of the global share in 2018.

The implementation of "made in China 2025" strategy just provides enough soil for the transformation of China's chemical industry. In order to achieve self-sufficiency in aerospace, new energy, medicine and other high-end fields, more chemical suppliers need to continuously improve their innovation and technological capabilities.

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