China is set to witness fast development in the polyoxymethylene (POM) industry in 2024, on the back of steady growth in automobile demand. The POM capacity is projected to surge by 190,000 tonnes/year in 2024, up 34.55% year on year, pushing up the POM capacity to 740,000 t/y in China, according to data compiled by OilChem.
Source: OilChem
2024 China Newly-added POM Capacity (Unit: '000 t/y)
|
Item |
Proposed Projects |
|
East China |
90 |
|
Northwest China |
60 |
|
Northeast China |
40 |
|
Total |
190 |
Source: OilChem
Concerning distribution, roughly 29% of POM capacities are concentrated in East China, in proximity to its consumption areas, amid convenient transportation there. In addition, nearly 78.95% of newly added POM capacities will come on stream in the fourth quarter of 2024, as reported by OilChem based on the progress of proposed projects.
Source: OilChem
In terms of POM downstream application, the consumption of automobiles ranks first, taking up 42% or so. Moreover, propelled by domestic policies, China's POM development direction gradually transfers to medium-to-high-end applications, and the proportion of automobile field is on an uptrend.
Written by Ariel Guo, gq@oilchem.net
Edited by Navy Liu, liuchuanjun@mysteel.com
