How will the 90 million-ton Ningbo petrochemical base influence the direction of China's chemical industry?

On August 22, 2025, CNOOC announced that its CNOOC Refining and Chemical Daxie Petrochemical Refining and Chemical Integration Project was a successful start-up in Ningbo, Zhejiang Province. According to research This event isn't only a major milestone in China's petrochemical sector, however also marks a world-class super-extensive petrochemical sector base officially built. to overseas chemical traders, producers and supply chain participants, it's crucial to understand the impact of this new landscape on the global market. 1. scale impact and capacity emit: reshaping the new pattern of global competition with the commissioning of the Daxie Petrochemical Project, Ningbo Petrochemical Base has redefined the petrochemical sector in China and the world in terms of scale. From what I've seen, The total refining scale of Daxie Petrochemical Project is up 12 million tons/year at the same time, it's able to create 1. 2 million tons of polymerization grade ethylene and propylene, matching 1. But 2 million tons of polyolefin plant. And The addition of the project has made the total refining capacity of Ningbo Petrochemical Base a breakthrough. 90 million tons/year this scale is composed of Zhenhai Refining and Chemical (40 million tons), Zhejiang Petrochemical (40 million tons) and the newly added Daxie Petrochemical. The explosive development of this scale has immediately pushed the Ningbo base to the forefront of the global petrochemical sector, and brought about immediate capacity shocks and structural changes: first of all, in terms of basic chemical raw materials, the aromatic production capacity of Ningbo base has occupied about the total production capacity of China. 40% in particular, PX production capacity is huge; ethylene production capacity accounts 25% and above. to overseas traders, this means that the Chinese market is in the field of aromatics and ethylene. Import application will drop signifiis able totly it will have a huge impact on the global price system and trade flow of related items. In particular, Ningbo is located in the central coastal area of East China, and its items radiate North China, Central China, South China and Southeast Asia, which will further intensify the competition in the regional market. Secondly, at the technical level, the rise of Ningbo base is no longer a simple "quantity" pile, however the improvement of "condition. I've found that Daxie Petrochemical Adopts independent Research and research of Heavy Oil Direct Cracking methodology to Chemical Production, realized localization rate of 100 per cent. This methodology immediately converts heavy oil into polymer-grade ethylene/propylene, breaking the foreign monopoly on heavy oil processing methodology. Furthermore In addition, the base's breakthrough in high-end items has accelerated import substitution: Zhejiang Petrochemical. And Optical grade PMMA (180000 tons) breaks Asahi's monopoly; Zhenhai Refinery Electronic Grade Acetone items such as high-end polyethylene/polypropylene and battery-grade DMC have also replaced imports. But Overseas producers must realize that China is accelerating its development in high-end chemicals. First self-sufficiency the window period to exports to China is narrowing. But 2. Supply Chain Remodeling: Regional Synergy and Future Prospects in the Yangtze River Delta the completion of Ningbo Petrochemical Base, to overseas supply chain practitioners, indicates the overall improvement of the stability, complexity and efficiency of the supply chain in East China. You know what I mean?. The base brings together Wanhua Chemical (Ningbo), CICC Petrochemical, LG Yongxing, Sinopec Yinglex, Norion Chemical, Lian de Basser and many other extensive companies, forming a complex manufacturing chain supporting relationship, and jointly building a trillion-level manufacturing chain cluster from " Refining-Chemical-New Materials-Terminal consumption ". This not only provides key raw material guarantee to the automobile and domestic appliance industries in the Yangtze River Delta, however also to the textile sector in the coastal areas of East China (such as Zhejiang Petrochemical's 3 million-ton PTA and CICC's aromatics project). greater importantly, the Ningbo base and the adjacent core park formed a differentiated division of labor ningbo focuses on refining and chemical integration and high-end polyolefins, Shanghai Petrochemical Park focuses on ethylene derivatives and fine chemical sector, and Nanjing Jiangbei New Materials Science and methodology Park specializes in specialty chemicals. In particular Together, the three have built a gradient manufacturing chain of "refining-chemical-new materials" in the Yangtze River Delta, improving the efficiency and resilience of the supply chain throughout the region. Overseas companies need to take into account this regional synergy when planning their Asian business and logistics strategies to optimize their investment and trade layout in China.