South Korean petrochemical industry is confident in rapid recovery

According to the latest financial report released by the company, due to the sluggish global economy and slowdown in chemical demand, some Korean petrochemical producers experienced a decline in sales revenue and earnings in the fourth quarter of last year. However, analysts are full of confidence in the rapid recovery of the Korean petrochemical industry this year. From the plans announced last year, in order to increase market competitiveness, Korean petrochemical producers have continued to expand investment in order to consolidate their market position. As the world’s fifth largest petrochemical producer, South Korea’s petrochemical industry is mainly guided by exports, and provides raw material guarantees for its domestic automotive, electronics and textile industries. Investment-enhancement projects announced last year are also aimed at these industries with growth potential.

According to the financial report released recently, South Korea's Hunan Petrochemical's sales in the fourth quarter of last year fell by 14.7% from the previous quarter to 344.8 billion won; operating profit fell 59.8% from the previous quarter to 158.4 billion won. In the fourth quarter of last year, sales of LG Chemical Co., Ltd. fell by 4.8% from the previous quarter to 560.2 billion won; operating profit fell 30% from the previous quarter to 560 billion won. In addition, the sales volume and operating profit of S-OIL and SK Innovations Co., Ltd. both fell in different degrees during the same period.

Although the profits in the fourth quarter of last year have been affected to a certain extent, the investment of major companies this year has continued unabated. The Korean Petrochemical Industry Association (KPIA) recently stated that South Korean petrochemical producers plan to invest 7.5 trillion won (about 6.7 billion U.S. dollars) in equipment upgrades and capacity expansion this year, an increase of 2.7% over the previous year. KPIA also stated that in 2012, South Korea’s petrochemical company plans to export petrochemical products worth US$47.5 billion, and last year the value of petrochemical exports was US$45.5 billion.

The rapid development of the automotive, electronics, and textile industries in Korea has led to the investment in related chemicals, and investment in energy conservation and environmental protection has also increased. In July of last year, Kumho Petrochemical announced that it plans to invest 837 million U.S. dollars in Lishui to build a number of new petrochemical plants by 2014 and increase investment to achieve 20 trillion won in annual sales by 2020, becoming the world's leading chemical group. The investment projects in Lishui include the construction of a 60,000-ton/year solution-polymerized styrene-butadiene rubber plant, a 60,000-ton/year EPDM plant, a 150,000-ton/year bisphenol A plant, and a joint venture company. Kumho Mitsui Chemicals plans to build a new 50,000-ton/year diphenylmethane diisocyanate plant. In addition, Kumho Petrochemical plans to expand the capacity of the styrene butadiene rubber plant in Ulsan from the current 480,000 tons/year to 560,000 tons/year.

SKC plans to significantly expand its production capacity of HPPO unit in Ulsan. By the end of 2016, the company's total propylene oxide production capacity will reach 600,000 tons/year, making it the largest epoxy in Asia. Propane producer. SKC also plans to expand the polyether polyol production capacity from the current 135,000 tons/year to 400,000 tons/year by 2016 to meet the market demand for polyurethane insulation materials; and to double the propylene glycol production capacity from the current 100,000 tons/year. Annual increase to 200,000 tons / year.

OCI will invest US$1.65 billion to expand South Korea's polysilicon production capacity and build a fifth polysilicon unit in the new Wanjin Industrial Complex in Jeollabuk-do, South Korea, with a production capacity of 24,000 tons/year. The device is expected to be completed in December 2013. After this polysilicon device is completed, OCI's polysilicon production capacity will reach 86,000 tons/year, and its position as the world's largest polysilicon supplier will be further consolidated.

Mitsubishi Rayon and Korea’s Hunan Petrochemical announced in February last year that they plan to expand their MMA joint venture in Dashan, Korea, to expand their MMA monomer and acrylic resin production capacity. The joint venture's MMA monomer production will expand to 98,000 tons/year, and it is expected to complete the expansion in January 2013; the acrylic resin production capacity will expand by 60,000 tons/year.

5.0 Ton Spider Crane

5.0 Ton Spider Crane

Towable boom lift is mainly featured by its compact size, stable lifting, 360 degree rotating and multi powers with the max platform height from 10m to 20m.

5.0 Ton Spider Crane,Auto Spider Crank Truck,16.8M Spider Crank Truck,5Section Spider Crane Truck

Hubei ruiyate Automobile Co.,Ltd , https://www.ruiyateworkingtruck.com