Introduction: In the third quarter of 2023, with the smooth production of the fourth set of 600 thousand tons of ethylbenzene dehydrogenation plant in Zhejiang Petrochemical and 200 thousand tons of ethylbenzene dehydrogenation plant in Ningxia Baofeng, the total domestic styrene production capacity reached 21.292 million tons, the production of these two sets of devices, but also shows that this year’s new equipment is nearing the end of the year, or only 120 thousand tons of new equipment in Luoyang Petrochemical may be put into operation.

2023 Domestic styrene production capacity to maintain rapid growth, 2023 since the beginning of the new production capacity 3.7 million tons/year, an increase of 860,000 tons over the whole of last year, as of the current industry’s total production capacity increased to 21.292 million tons, capacity growth of 21.03%, capacity growth to maintain a high growth trend. In addition, ethylbenzene dehydrogenation was the main process of the new plant put into operation during the year, accounting for 83.78%.

Looking forward to 2024, according to the current market understanding, the styrene units that have not been put into production are Luoyang Petrochemical and CITIC Guoan styrene units, the devices under construction are Jingbo Petrochemical (Zhongtai Chemical) and Shenghong refining and chemical styrene units, and the rest of the enterprise devices are mostly in the approval and pending construction stage, based on the construction cycle. The large probability of putting into operation in 2024 is significantly reduced compared with 2023, and the growth rate of production capacity is slowing down.