Ethylene oxide and its downstream products are likely to be accelerated due to industrial upgrading, the rise of emerging industries, the rapid growth in demand for new materials, and the shift from traditional coatings to green coatings. At present, the European debt crisis has caused the recovery of the global economy to be difficult. The prices of international crude oil and other bulk materials have remained low, and ethylene oxide and its downstream products have achieved good results.
The stable price of ethylene oxide and its downstream glycol ethers, double alkyl terminated polyethers, chemical fiber oils, plasticizers, and organic pharmaceutical intermediates are closely related to the trend of petroleum. As the European debt crisis continued, international crude oil prices remained at around $100/barrel. The main raw material of ethylene oxide is ethylene, and the correlation degree between ethylene and crude oil is the highest. At present, the price of crude oil is relatively stable. Through the smooth conduction of ethylene, ethylene oxide is very useful for production. Since the fourth quarter, domestic ethylene oxide, although slightly lower with the ethylene price, but due to the more demanding downstream, 10,000 yuan (ton price, the same below) mark strong support, making its price is always above 10,900 yuan, two yuan The price of alcohol ethers and their acetate products remained above 12,000 yuan, and there are signs of a recent increase. At the same time, the prices of downstream materials such as methanol and glacial acetic acid are very low, which is very beneficial for improving the profitability of the ethylene oxide industrial chain.
Ethylene oxide and its downstream products are favored by the market, mainly due to the reasonable structure of the industry, and the demand is still greater than the supply. Ethylene oxide is a high-risk chemical and its production is subject to higher constraints such as technology, capital, storage and transportation. A set of production capacity of 50,000 tons of equipment, technology transfer fees, construction costs frequently more than 500 million yuan, the average SME is difficult to reach. At present, there are only a dozen manufacturing companies in China, mainly large-scale state-owned enterprises with strong technical force, and only two private enterprises. At the same time, the requirements for the storage and transportation of ethylene oxide are extremely stringent, which also discourages general enterprises. Therefore, ethylene oxide does not appear to have excess capacity in the country.
It is reported that there are more than 5,000 fine chemical species downstream of ethylene oxide, but there are only about 200 domestic self-produced products, some of which are heavily dependent on imports. Based on this, it is estimated that the entire downstream is expected to have a market potential of several hundred billion yuan. In particular, the downstream ethylene glycol market has a very large capacity. Its consumption accounts for more than 50% of domestic ethylene oxide, and it imports about 5 million tons each year from abroad to make up for the shortfall in domestic demand. Industry insiders predict that potential demand will keep glycol at an annual growth rate of over 30%. Ethylene oxide and its downstream products will be preferentially used in many fields such as coatings, chemical fiber, synthetic rubber, oil refining, chemical fertilizers, ink, printing and dyeing due to its advantages of low carbon and environmental protection.
The market is particularly optimistic about diol ether products. At present, the total annual demand in the country is 500,000 tons, while in 2010, the domestic diol ether production capacity is about 280,000 tons, there is a huge gap, if you consider the average annual 20% to 30% The growth rate is very optimistic. In alcohol ether solvent series products, propylene glycol methyl ether and its acetate, ***** and its acetate, are all environmentally friendly solvents.
According to reports, the proportion of benzene-containing solvents in the country is as high as 70%, and in addition to physical damage to construction workers, environmental pollution has been criticized by the environmental protection community. The alcohol ether solvent can be naturally decomposed and there will be no pollution. Therefore, there is a large space for market substitution and the prospects are very promising. According to the requirements of the “Twelfth Five-Year Plan†of China's paint industry, the pace of replacing environmentally-friendly coatings with formaldehyde and benzene products should be accelerated, providing a huge alternative space for environmentally friendly coatings. For example, in 2010, the total output value of the paint industry was 232.5 billion yuan. Replacement of only environmentally-friendly paints contained a business opportunity of several hundred billion yuan.
The potential market is huge For thousands of varieties downstream of ethylene oxide, there are many products that can be selected and developed by the companies in the industry. This requires related companies to develop new materials based on national industrial policies and emerging market demands. There are large market opportunities for the following products: First, the new material Polycarboxylate concrete water reducer, which can increase the concrete strength, while reducing the concrete volume, while making the concrete structure more impact resistant, especially suitable for construction Bridge project. The second is solar cutting fluid, which can be widely used in the field of polysilicon and monocrystalline silicon in new energy materials. The third category is glycol ethers, in which methyl ether is used as an aviation kerosene antifreeze and dimethyl ether is an inert solvent used in automotive brake fluids. In addition, the use of electronic grade propylene glycol methyl ether acetate as a raw material for cleaning agents has a huge market potential, and is particularly well-received in Southeast Asia. In recent years, the demand in this area has shown rapid growth.
The stable price of ethylene oxide and its downstream glycol ethers, double alkyl terminated polyethers, chemical fiber oils, plasticizers, and organic pharmaceutical intermediates are closely related to the trend of petroleum. As the European debt crisis continued, international crude oil prices remained at around $100/barrel. The main raw material of ethylene oxide is ethylene, and the correlation degree between ethylene and crude oil is the highest. At present, the price of crude oil is relatively stable. Through the smooth conduction of ethylene, ethylene oxide is very useful for production. Since the fourth quarter, domestic ethylene oxide, although slightly lower with the ethylene price, but due to the more demanding downstream, 10,000 yuan (ton price, the same below) mark strong support, making its price is always above 10,900 yuan, two yuan The price of alcohol ethers and their acetate products remained above 12,000 yuan, and there are signs of a recent increase. At the same time, the prices of downstream materials such as methanol and glacial acetic acid are very low, which is very beneficial for improving the profitability of the ethylene oxide industrial chain.
Ethylene oxide and its downstream products are favored by the market, mainly due to the reasonable structure of the industry, and the demand is still greater than the supply. Ethylene oxide is a high-risk chemical and its production is subject to higher constraints such as technology, capital, storage and transportation. A set of production capacity of 50,000 tons of equipment, technology transfer fees, construction costs frequently more than 500 million yuan, the average SME is difficult to reach. At present, there are only a dozen manufacturing companies in China, mainly large-scale state-owned enterprises with strong technical force, and only two private enterprises. At the same time, the requirements for the storage and transportation of ethylene oxide are extremely stringent, which also discourages general enterprises. Therefore, ethylene oxide does not appear to have excess capacity in the country.
It is reported that there are more than 5,000 fine chemical species downstream of ethylene oxide, but there are only about 200 domestic self-produced products, some of which are heavily dependent on imports. Based on this, it is estimated that the entire downstream is expected to have a market potential of several hundred billion yuan. In particular, the downstream ethylene glycol market has a very large capacity. Its consumption accounts for more than 50% of domestic ethylene oxide, and it imports about 5 million tons each year from abroad to make up for the shortfall in domestic demand. Industry insiders predict that potential demand will keep glycol at an annual growth rate of over 30%. Ethylene oxide and its downstream products will be preferentially used in many fields such as coatings, chemical fiber, synthetic rubber, oil refining, chemical fertilizers, ink, printing and dyeing due to its advantages of low carbon and environmental protection.
The market is particularly optimistic about diol ether products. At present, the total annual demand in the country is 500,000 tons, while in 2010, the domestic diol ether production capacity is about 280,000 tons, there is a huge gap, if you consider the average annual 20% to 30% The growth rate is very optimistic. In alcohol ether solvent series products, propylene glycol methyl ether and its acetate, ***** and its acetate, are all environmentally friendly solvents.
According to reports, the proportion of benzene-containing solvents in the country is as high as 70%, and in addition to physical damage to construction workers, environmental pollution has been criticized by the environmental protection community. The alcohol ether solvent can be naturally decomposed and there will be no pollution. Therefore, there is a large space for market substitution and the prospects are very promising. According to the requirements of the “Twelfth Five-Year Plan†of China's paint industry, the pace of replacing environmentally-friendly coatings with formaldehyde and benzene products should be accelerated, providing a huge alternative space for environmentally friendly coatings. For example, in 2010, the total output value of the paint industry was 232.5 billion yuan. Replacement of only environmentally-friendly paints contained a business opportunity of several hundred billion yuan.
The potential market is huge For thousands of varieties downstream of ethylene oxide, there are many products that can be selected and developed by the companies in the industry. This requires related companies to develop new materials based on national industrial policies and emerging market demands. There are large market opportunities for the following products: First, the new material Polycarboxylate concrete water reducer, which can increase the concrete strength, while reducing the concrete volume, while making the concrete structure more impact resistant, especially suitable for construction Bridge project. The second is solar cutting fluid, which can be widely used in the field of polysilicon and monocrystalline silicon in new energy materials. The third category is glycol ethers, in which methyl ether is used as an aviation kerosene antifreeze and dimethyl ether is an inert solvent used in automotive brake fluids. In addition, the use of electronic grade propylene glycol methyl ether acetate as a raw material for cleaning agents has a huge market potential, and is particularly well-received in Southeast Asia. In recent years, the demand in this area has shown rapid growth.
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