In 2008, China synthetic resin output amounted to 31.296 million tons, and the figure in H1 2009 was 16.473 million tons. On variety, a complete variety system led by five major synthetic resin products (Polyethylene, polypropylene, PVC, polystyrene, ABS) and supported by others like Phenolic resin, amino plastics, epoxy resin, acrylic resin, etc has formed in China. China has become one of the world’s major synthetic resin producers.

In the first half of 2009, the synthetic resin industry still hovered low; and got impacted by the imports, the industry development continued to be in the downturn. During Jan-Apr of 2009, the synthetic resin output was 10.729 million tons, down 2.5% year-on-year, and its exports were 567,000 tons, down 40.5% year-on-year. Currently, China synthetic resin industry is facing both opportunities and challenges. With the issuing of a series of economic stimulation plans by the government, the economic situation will turn better in H2 2009 and the downstream demand of synthetic resin industry will rebound.

Under the backdrop of global financial crisis, China’s resin companies were more or less affected from 2008 to Mid-2009. Taking SINOPEC Shanghai Petrochemical Co. Ltd for example, its revenue in 2008 went up 0.21% to RMB60.311 billion year-on-year; during Jan-Jun 2009, its prime operating revenue declined 35.56% to RMB21.205 billion, and its profits from synthetic resin and plastic business in 2008 were negatively RMB2.177 billion , a drastic drop compared to RMB660 million in 2007.

The report makes an in-depth analysis of China resin industry development, market changes, the development of synthetic resin segmented industries, latest trends of the resin application fields and upstream and downstream key companies of resin; and predicts the future development direction of the resin industry.

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