Following the announcement by many US and European companies of the construction of an ethylene cracker in the United States, South African chemical giant Sasol announced on February 17 that it intends to build a new ethane-based 1.4 million t/yr at the Lake Charles, Louisiana plant. Ethylene cracker. Immediately after, Formosa Petrochemical, a Chinese company in Taiwan, announced at the end of February that it would build an 800,000-tonne olefin cracking project in Texas. The cost advantage brought by the shale gas revolution led giant companies to watch the US olefin cracking project one after another, showing signs of a shift in the world petrochemical industry's focus toward the United States. However, in the author's opinion, the revival of the petrochemical industry in the United States caused by shale gas will not change the world's petrochemical market. Ten years ago, the competitiveness of ethylene crackers in the United States did not have any advantage over the rest of the world. As of 2005, ethylene production in the United States still faces difficulties in supply of raw materials and high costs, but the shale gas revolution in the US has made a qualitative change in all this. Since the spring of 2011, Dow Chemical Company, Chevron Phillips Chemicals, and Shell Chemicals have all disclosed the construction of a new multi-billion-dollar joint installation plan to produce ethylene and derivatives such as rings. Ethylene oxide and polyethylene. In addition, Westlake Chemical Company, Lyondell Basell and Ineos also plan to expand their ethylene production capacity in the United States. While the world is seeking more economical and efficient alternative energy sources, the rapid development of the US shale gas industry has opened a door for the revitalization of the petrochemical industry. However, this does not mean that the future world petrochemical industry structure will therefore There are major changes. Although the renewed prosperity of the petrochemical market in the United States will have a certain impact on the markets in Europe, the Middle East and Asia, this shock wave will not be too great. For the Middle East region, the region has many advantages such as abundant raw materials and low production costs. The ethylene production capacity in the region currently accounts for about 20% of the total global production capacity. Its solid strength is sufficient to withstand the pressure from the increased competitiveness of the US market. . Relatively speaking, the European petrochemical market is affected more. The market was first hit by the financial crisis. Some old petrochemical plants were closed due to overcapacity, and some new projects were forced to be delayed. The debt crisis in Europe since last year has caused a sharp drop in demand in the region. The petrochemical industry, which has been in a difficult position, may be affected by the rise of the US market. However, after many years of development, the European petrochemical industry chain has its own technological advantages, and its ability to respond to market changes is also strong. If it is subjected to major shocks, it will not change much in addition to adding some mergers and acquisitions. From this analysis, the future petrochemical market landscape in North America, Europe, Asia, and the Middle East will not be easily broken by the development of the US shale gas industry.
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In Asia, with the rapid economic growth and the stimulation of strong domestic demand, governments in various countries have given sufficient attention to the development of the petrochemical industry, and the petrochemical industry has experienced rapid development, especially in the petrochemical products of India, South Korea, Malaysia, and China. From the beginning of the supply to the oversupply. In particular, after the financial crisis, petrochemical companies have greatly enhanced their international competitiveness through mergers and reorganizations. Coupled with strong demand in the region, they will not easily fluctuate due to changes in the US market.