2013 will promote the development of new chemical materials
July 06 00:02:17, 2025
In 2013, the petrochemical industry was expected to focus on enhancing the quality and efficiency of its operations, aiming for steady and sustainable growth. Despite challenges in 2012—such as overcapacity, high financial costs, and weak export performance—the sector managed to stabilize and gradually recover. The industry's added value increased by 8.29% year-on-year, with the chemical industry growing at a more robust 12.1%. Total revenue reached 11.85 trillion yuan, reflecting a 10.9% increase, while employment rose by 3.1%.
Throughout 2012, the industry experienced fluctuating growth rates. While the first half saw a decline, the latter part showed improvement, with output reaching 16.1% in November. Major products like crude oil, natural gas, and chemicals continued to grow, with crude oil production rising by 1.9%, natural gas by 6.7%, and chemical output increasing by 8.0%. However, prices remained under pressure, especially for basic materials such as soda ash, methanol, and fertilizers.
The industry also saw structural improvements, with synthetic materials and organic chemicals making up larger shares of the chemical industry. Regional growth was notable, particularly in central and western China, where some provinces recorded double-digit growth. Investment in the industry surged by 23.1%, with significant increases in technology-intensive sectors like synthetic materials and organic chemicals.
Despite these gains, profits declined in 2012, with total industry profits falling by 0.7%. Some sectors, like phosphate fertilizer and synthetic materials, saw sharp drops in profitability. Foreign trade deficits widened, with import growth outpacing exports, highlighting increased reliance on foreign resources.
Looking ahead to 2013, the industry aimed to maintain stability while addressing key challenges. The government emphasized the need for innovation, structural adjustments, and green development. Efforts were focused on improving efficiency, reducing excess capacity, and promoting new materials and technologies. Policies were introduced to support the development of advanced chemical products, strengthen environmental regulations, and ensure food security through stable fertilizer and pesticide supplies.
Overall, 2013 marked a turning point for the petrochemical industry, with a renewed focus on sustainability, innovation, and long-term growth.