PX: Asia determines the direction of global markets

Recently, market participants said that entering 2022, the Asian paraxylene (PX) market will face enormous pressure from the intensive expansion of PX capacity in the internal market, resulting in increased supply

In 2022, on the supply side, market participants said that the addition of PX capacity in Asia may lead to a surplus of 9 million tons in the regional market in 2022

The continued increase in PX supply and the weak PX-naphtha oil price spread are adding to the uncertainty of the PX market in 2022

Different scenarios may appear in the PX market in the first half and second half of 2022.

Regionally, market participants said that the continued increase in the supply of PX in East Asia will continue to reduce the region's dependence on imported goods

In Europe, due to the continued impact of the new crown pneumonia epidemic, serious uncertainty caused by upstream energy fundamentals due to the geopolitical situation, and the slow progress of the global economic recovery, European market participants are cautiously concerned about the prospects of the PX market in 2022

In the U.