Development status and challenges of China's chemical industry in 2023

(5) The industrial layout continues to develop towards the base, and the industry concentration has been further improved

Intensive management is a major trend in the development of petrochemical industry. Through mutual supply of materials and sharing of public works, resources can be fully optimized and rationally utilized, so as to reduce operating costs and realize intensive management. In the next 2 to 4 years, strengthening acquisitions or asset divestitures between large companies will continue, and many diversified petrochemical companies have begun to focus on specialization and integration.

(6) Cross-border knowledge and technology integration is the key to achieve industry upgrading

The collaborative development between industries is the basis for the digital transformation of the industry, the development of new materials, the recycling of waste plastics and other businesses. Throughout the global chemical industry, new technologies and new products are iterated rapidly and emerge in endlessly. Enterprises need to establish a fast, flexible and forward-looking information acquisition, digestion, absorption, integration, innovation ability system.

Digital technologies will play a revolutionary role in improving performance and transforming the business at all levels. However, at present, most domestic petrochemical enterprises still remain at the level of understanding in terms of digital transformation, and have not given full play to the huge potential of digital technology, and lack of new generation information technology support such as big data and cloud computing.

The development of new materials requires the integration of expertise in chemistry, biology, physics, materials science, engineering and other fields, and the establishment of a close connection with downstream user technologies and businesses in various industries.

Iii. Concluding remarks

Although China is the world's largest petrochemical products production country, but also the world's largest petrochemical products market, but in the era of market globalization, if you want to enhance the industry in the global market competitiveness, you need to adapt to environmental changes, it is impossible to be competitive. Continuously improve the comprehensive competitiveness of the industry through speed, innovation, high quality and low cost. China's chemical industry should develop from large to strong, from technology dependence to technology independence, from the primary stage of deep processing of resources to the middle and advanced stage, from the extensive stage of management to the fine stage. This requires greater attention at the national and corporate levels to several major challenges facing the development of the chemical industry.