With the continued rapid growth of China's petroleum and chemical industry during the "Eleventh Five-Year Plan" period, the domestic chemical machinery sector is expected to enter a new phase of development in the coming years. Currently, as investment in the oil and chemical industries increases, the chemical machinery industry is undergoing a strategic transformation from mere expansion in quantity to a focus on quality improvement, aligning itself with the evolving demands of the sector.
Experts from the China Petroleum and Petrochemical Equipment Industry Association have noted that for a long time, the industry has struggled with losses, largely due to the large-scale import of advanced petrochemical equipment. However, 2004 marked a turning point, as the market for chemical machinery saw a significant boom, reversing the previous losses. This growth was driven by strong domestic and international demand, technological advancements that boosted efficiency, and successful industrial restructuring.
According to reports from 2004 to 2005, there remains substantial potential in the markets for petrochemical and plastic machinery. After a period of challenges, the industry is now showing steady improvement, with economic efficiency gradually rising and a shift toward sustainable development.
In recent years, the rise in crude oil prices has led to increased investment in refining infrastructure, particularly in hydrogenation equipment, which helps maximize light oil production. With over 100 hydrogenation units already in operation and more than 45 under construction between mid-2004 and early 2005, the demand for such equipment has surged. This has created a shortage for manufacturers, leading to a surge in orders and sales—some companies even reported a 30% increase in the first half of 2005. Clearly, the petrochemical industry has become a strong driver for the chemical machinery sector.
Moreover, China's chemical machinery industry has made notable progress in independent research and development, enhancing its competitiveness. For instance, a 3.5-million-ton-per-year heavy oil catalytic cracking unit, developed independently by Dalian Petrochemical, achieved successful testing, showcasing China’s capabilities in large-scale catalytic technology. Similarly, Hangzhou Oxygen Plant’s ethylene cold box was successfully implemented at Yanhua’s 710,000-ton ethylene plant, achieving international standards. The Hefei General Machinery Research Institute also completed a major national project involving large natural gas storage tanks, filling a domestic gap.
Recently, officials and experts from the National Equipment Manufacturing Office visited Zhejiang’s Yongjia County, known as the hometown of pump and valve manufacturing. They emphasized the importance of developing high-pressure, high-parameter pump and valve equipment, which are in high demand. Sinopec Ningbo Engineering Co. has called on domestic manufacturers to adjust their product structures, enhance technological content, and meet the needs of large-scale, complex projects.
Looking ahead, the domestic chemical machinery market is expected to maintain a positive trajectory. Over the next five years, refining and ethylene will be key areas of growth. Seven major trends are expected to shape the industry: traditional products will continue to hold strong market shares; energy-saving technologies will open up new opportunities; environmental protection equipment will gain momentum; large-scale petrochemical plants will drive demand for big equipment; export potential for alternatives to imported goods, such as tire and rubber machinery, will grow; and storage and transportation equipment will see increasing demand.
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