Analysis of the status quo and future trends of the basic chemical industry in 2022 The chemical industry will usher in definite growth opportunities

2) Coal chemical industry: In addition to petrochemicals, a large part of the chemical industry chain comes from the coal chemical industry chain, and in the coal chemical industry chain, such as coal-to-ethylene, propylene, coal-to-methanol, ethylene glycol and other downstream commodity prices often follow the oil price linkage, and the upstream cost is linked with the coal price. Therefore, when the oil price opens the upward channel, The low-cost coal chemical sector can have better performance flexibility. Although since the third quarter of this year, affected by factors such as dual control of energy consumption, coal prices have risen significantly, increasing the cost of raw materials for coal chemical enterprises. However, considering that China is a coal-rich country after all, we believe that looking forward to 2022, the price of coal will most likely go down the channel, and if the high oil price as mentioned above continues, then the coal chemical sector is expected to usher in a sustained high boom.

3) Soda ash: According to Zhuo Chuang information data, the current domestic soda ash production capacity of 32.93 million tons, the output of 27.59 million tons in 2020, the average operating rate of the corresponding industry of 83.8%, apparent consumption of 26.57 million tons, overall, soda ash industry in a tight balance between supply and demand. In terms of the downstream application of soda ash, according to statistics, the current domestic soda ash downstream consumption structure float glass accounts for about 40%, glass packaging containers account for 12%, and photovoltaic glass accounts for 6%. We believe that with the release of photovoltaic glass production capacity constraints, the rapid development of photovoltaic industry installed capacity in the future, photovoltaic glass will constitute the core increase of soda ash demand. Therefore, we believe that the soda ash industry will maintain a high boom.