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2023

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02

The overall stable economic operation of the petrochemical and chemical industry in 2022


According to data released on the website of the Ministry of Industry and Information Technology on February 1st, the overall economic operation of the petrochemical and chemical industry (excluding oil and gas extraction) remained stable in 2022.

1、 Production has declined.

According to data from the National Bureau of Statistics, in 2022, the capacity utilization rate of the chemical raw material and chemical product manufacturing industry was 76.7%, a year-on-year decrease of 1.4 percentage points and 1.1 percentage points higher than the industrial average.

Among the key products, the crude oil processing volume was 680 million tons, a year-on-year decrease of 3.4%; The production of bulk raw materials such as caustic soda, soda ash, sulfuric acid, and ethylene increased by 1.4%, 0.3%, -0.5%, and -1% year-on-year, respectively; The output of synthetic resin, synthetic rubber, Synthetic fiber polymer and other synthetic materials increased by 1.5%, -5.7% and -1.5% year on year respectively; Tire production decreased by 5% year-on-year; The total amount of chemical fertilizers (converted to pure) increased by 1.2% year-on-year.

2、 Prices fluctuate at high levels.

According to data from the National Bureau of Statistics, in 2022, the factory price index of chemical raw materials and chemical product manufacturing industry increased by 7.7% year-on-year.

Among the 30 products focused on, the average price of 18 products will increase year on year in 2022, accounting for about 60%, of which the prices of caustic soda, Potassium chloride and toluene will increase by 58%, 38% and 33% year on year; In December, the price increase slowed down, with 19 companies experiencing a month on month decrease in average prices, accounting for approximately 63%. Among them, sulfuric acid, hydrochloric acid, and MDI decreased by 18%, 17%, and 10% month on month.

3、 Investment and export growth are showing good momentum.

According to data from the National Bureau of Statistics, in 2022, investment in the chemical raw material and chemical product manufacturing industry increased by 19% year-on-year, 7.4 percentage points higher than the industrial average.

According to data from the General Administration of Customs, the trade structure continues to improve, with a total export volume of organic chemicals of 80.7 billion US dollars, a year-on-year increase of 17%, and a trade surplus of 29 billion US dollars, a year-on-year increase of 216%; The total export of inorganic chemicals was 39.4 billion US dollars, up 68% year on year, and the trade surplus was 13.5 billion US dollars, up 57% year on year; The total export value of synthetic resin was 25 billion US dollars, a year-on-year increase of 4%, and the trade deficit was 24.9 billion US dollars, a year-on-year decrease of 22%.

Source: China Chemical New Network, Ministry of Industry and Information Technology