LPG Market Outlook: Imports for China rising with PDH plants picking up steam

LPG Market Outlook

June 2021

Chinese imports have rebounded strongly in the first five months of 2021 with the country importing roughly 2 MMt/m. The petrochemical sector continues to ramp-up activity with five new PDH units planned for 2021. Two units have already begun operations which will add roughly 1.4 MMt/y in imports once fully operational. The other three units are not expected to start up until mid to late-2021 and the increase in import demand from those plants will not be really seen until 2022 when operating rates pick up. For 2021, imports are forecast to climb by 21% to 23.9 MMt/y as operating rates from the plants constructed in 2020 climb in addition to the new plants coming online.

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