Chinese Paraffin Wax Supply And Demand
At present, China's paraffin industry is a market structure for monopoly competition. Most of paraffin wax manufacturers belong to PetroChina and Sinopec.
China’s paraffin production is mainly concentrated in the Northeast refinery, which is due to its unique raw material, that is, paraffin-grade Daqing crude oil. Ffaith paraffin wax also has its own factory there.
The total production capacity of Northeast paraffin wax refinery is about 1.115 million tons/year. Daqing Petrochemical and Daqing Refinery have increased production capacity by 50,000 tons/year in 2014.
With the shutdown of the Dushanzi Petrochemical and Yumen refinery in 2009 and 2010, only Lanzhou Petrochemical has paraffin resources in the northwest market.
Sinopec has seven paraffin wax refineries, but its output is far lower than that of PetroChina. Four of them has relatively big output, but only accounted for 30% of the total domestic resources.
It can be seen that in order to pursue overall profits, Sinopec has become an inevitable trend in the shrinking of paraffin wax production. However, its special wax production is developed better and better.
Due to the limitation of raw materials, domestic paraffin resources are mainly concentrated in PetroChina and Sinopec refineries, but there are still very few private enterprises relying on the advantages of location to launch paraffin equipment.
The sales of these big paraffin wax refineries are uniformly controlled under PetroChina and Sinopec. Ffaith, as first agent of PetroChina, can supply you bulk paraffin wax with best price in a shorter time.