The rise in oil and gas prices in the past two years has promoted the strategic shift of the chemical industry to coal-based chemicals. The latest research report from U.S.-based consulting company Nexant pointed out that the driving force of this change is mainly from the unprecedentedly high energy demand in developing countries, especially in Asia, and technological advances in the application of coal technology such as coal gasification and related environmental technologies. Areas with rapid growth in energy demand have shifted from importing large amounts of oil to using local coal resources. Even in North America, many manufacturers believe that in the future, they must have competitive advantages in the production of general chemical products and must rely on innovative technologies in coal chemical industry.
The Nexant report analyzes the technical and economic feasibility of producing major petrochemical products using coal gasification or other known processes. The current production cost is a major factor affecting the successful development of coal-based chemical products. In addition, factors to be considered include coal gasification and auxiliary system technologies related to the environment; other low-cost alternative raw materials and processes, such as competition with natural gas raw materials in remote areas in the Middle East, Eastern Europe, and Africa.
The report also analyzed that it is expected that the shortage of conventional raw materials, important chemical products and intermediate products in China is expected to make use of China's abundant coal resources to make up for it. At present, chemical products produced by China using acetylene have made considerable progress. Global crude oil reserves may enter a phase of gradual decline. Consumers are worried that the dependence on unstable oil and gas sources will increase, and the incentive to reduce this dependence is increasing. In particular, the United States is facing increasing pressure from energy substitution and the lack of attention to coal and related environmental issues. In addition, the possibility that the price difference between crude oil and coal continues to increase is also an important factor driving the development of coal chemical industry.
Nexant stressed that whether it is produced by coal gasification technology or produced by acetylene like some PVC products in China, the growth of coal-based chemical products will ultimately depend mainly on cost competitiveness. At present, the cost of producing methanol from coal to methanol from methanol is still relatively high, and it is not enough to compete with ethylene produced by ordinary steam cracking.
However, Nexant still believes that many chemical products produced from coal, such as methanol, ammonia, fertilizers, polyolefins, acetylene, and formaldehyde (these products are produced from coal gasification of syngas), vinyl acetate and acrylic acid ( Coal-based acetylene routes, etc. are economically competitive. The Nexant report predicts that coal-based chemicals will play an advantage in solving environmental problems in the future and diversifying energy and raw materials.
The Nexant report analyzes the technical and economic feasibility of producing major petrochemical products using coal gasification or other known processes. The current production cost is a major factor affecting the successful development of coal-based chemical products. In addition, factors to be considered include coal gasification and auxiliary system technologies related to the environment; other low-cost alternative raw materials and processes, such as competition with natural gas raw materials in remote areas in the Middle East, Eastern Europe, and Africa.
The report also analyzed that it is expected that the shortage of conventional raw materials, important chemical products and intermediate products in China is expected to make use of China's abundant coal resources to make up for it. At present, chemical products produced by China using acetylene have made considerable progress. Global crude oil reserves may enter a phase of gradual decline. Consumers are worried that the dependence on unstable oil and gas sources will increase, and the incentive to reduce this dependence is increasing. In particular, the United States is facing increasing pressure from energy substitution and the lack of attention to coal and related environmental issues. In addition, the possibility that the price difference between crude oil and coal continues to increase is also an important factor driving the development of coal chemical industry.
Nexant stressed that whether it is produced by coal gasification technology or produced by acetylene like some PVC products in China, the growth of coal-based chemical products will ultimately depend mainly on cost competitiveness. At present, the cost of producing methanol from coal to methanol from methanol is still relatively high, and it is not enough to compete with ethylene produced by ordinary steam cracking.
However, Nexant still believes that many chemical products produced from coal, such as methanol, ammonia, fertilizers, polyolefins, acetylene, and formaldehyde (these products are produced from coal gasification of syngas), vinyl acetate and acrylic acid ( Coal-based acetylene routes, etc. are economically competitive. The Nexant report predicts that coal-based chemicals will play an advantage in solving environmental problems in the future and diversifying energy and raw materials.
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