1、 Overview of chemical projects and bulk commodities under construction in China

In terms of China’s chemical industry and commodities, there are nearly 2000 new projects being planned and constructed, indicating that China’s chemical industry is still in a stage of rapid development. The construction of new projects not only has a decisive impact on the development speed of the chemical industry, but also reflects the growth vitality of the economy. In addition, considering a large number of planned chemical projects under construction, it can be seen that China’s chemical industry investment environment can meet the needs of most investors.

2、 Distribution of planned chemical projects under construction in various provinces

1. Shandong Province: Shandong Province has always been a major chemical industry province in China. Although many local refining enterprises have experienced elimination and integration, they are currently undergoing a transformation of the chemical industry chain in Shandong Province. They have chosen to rely on existing refining facilities for industrial extension and have applied for numerous chemical projects. In addition, Shandong Province has gathered a large number of production enterprises in the fields of medicine, plastic products, rubber products, etc., and such enterprises are also actively developing new projects. At the same time, Shandong Province is actively undergoing the transformation of new energy and has approved numerous new energy related projects, such as new energy battery supporting development projects and new energy vehicle supporting projects, all of which have promoted the transformation and development of Shandong’s chemical industry.

1. Jiangsu Province: There are nearly 200 planned chemical .projects under construction in Jiangsu Province, accounting for about 10% of the total planned projects under construction in China. After the “Xiangshui Incident”, Jiangsu Province relocated over 20000 chemical enterprises to the outside world. Although the local government has also raised the approval threshold and qualifications for chemical projects, its excellent geographical location and huge consumption potential have driven the investment and construction speed of chemical projects in Jiangsu Province. Jiangsu Province is the largest producer of pharmaceuticals and finished products in China, as well as the largest importer of chemical products, providing advantageous conditions for the development of the chemical industry on both the consumer and supply sides.

3. Xinjiang region: Xinjiang is the tenth province in China with the number of planned under construction chemical projects. In the future, the number of planned under construction projects is close to 100, accounting for 4.1% of the total planned under construction chemical projects in China. It is the region with the highest number of planned under construction chemical projects in Northwest China. More and more enterprises are choosing to invest in chemical projects in Xinjiang, partly because Xinjiang has low energy prices and favorable policy convenience, and partly because the main consumer markets for chemical products in Xinjiang are Moscow and Western European countries. Choosing to develop differently from the mainland is an important strategic consideration for enterprises.

3、 The main directions of future chemical projects under construction in China

In terms of project quantity, chemical and new energy related projects account for the largest proportion, with an overall project quantity of nearly 900, accounting for about 44%. These projects include but are not limited to MMA, styrene, acrylic acid, CTO, MTO, PO/SM, PTA, acetone, PDH, acrylonitrile, acetonitrile, butyl acrylate, crude benzene hydrogenation, maleic anhydride, hydrogen peroxide, dichloromethane, aromatics and related substances, epoxy propane, ethylene oxide, caprolactam, epoxy resin, methanol, glacial acetic acid, dimethyl ether, petroleum resin, petroleum coke, needle coke, chlor alkali, naphtha, butadiene, ethylene glycol, formaldehyde Phenol ketones, dimethyl carbonate, lithium hexafluorophosphate, diethyl carbonate, lithium carbonate, lithium battery separator materials, lithium battery packaging materials, etc. This means that the main development direction in the future will be more concentrated in the fields of new energy and bulk chemicals.

4、 Differences in planned chemical projects under construction between different regions

There are certain differences in the planned construction of chemical projects between different regions, which mainly rely on the local resource advantages. For example, the Shandong region is more concentrated in fine chemicals, new energy and related chemicals, as well as chemicals at the lower end of the refining industry chain; In the Northeast region, traditional coal chemical industry, basic chemicals, and bulk chemicals are more concentrated; The northwest region mainly focuses on the deep processing of new coal chemical industry, calcium carbide chemical industry, and by-product gases from coal chemical industry; The southern region is more concentrated in new materials, fine chemicals, electronic chemicals, and related chemical products in the field of electronics and electrical engineering. This difference reflects the respective characteristics and development priorities of chemical projects under construction in the seven major regions of China.

From the perspective of different types of chemical projects invested and constructed in different regions, chemical projects in major regions of China have all chosen differentiated development, no longer focusing on energy and policy advantages, but relying more on local consumption characteristics, resulting in a chemical structure. This is more conducive to the formation of regional structural characteristics of China’s chemical industry and the mutual supply of resources between regions.