January 15, 2025 – China National Petroleum Corporation (CNPC) has marked a significant milestone in its new materials industry by achieving its annual production target 10 days ahead of schedule in 2024. The output has once again witnessed leapfrog growth, surpassing the 2 million tonne mark. This achievement signifies that CNPC’s new materials industry is accelerating into a new phase of vigorous development.
Since 2021, CNPC has been comprehensively laying out its strategy for new energy and new materials, establishing a refining, marketing, and new materials subgroup, and implementing a business unit reform. The new materials business has been elevated to the same important position as refining and basic chemicals. Meanwhile, the Shanghai New Materials Research Institute and the Japan New Materials Research Institute have been established one after another, accelerating the construction of the new materials technology research system. To further propel the rapid development of the new materials industry, CNPC has also registered and established Lanhai New Materials (Tongzhou Bay) Co., Ltd. and Kungang Advanced Manufacturing (Beijing) Co., Ltd., focusing on building five major new materials bases in Dushanzi, Lanzhou, Jilin, Liaoyang, and Lanhai.
CNPC’s Refining and Chemical New Materials Company has achieved remarkable results in developing new materials and enhancing product value-added. According to industry insights from AsiaMB, since the beginning of 2024, the company has developed over 135 new chemical product grades, with production volumes increasing by nearly 20% year-on-year. Notably, the gas-phase polyolefin elastomer (POE) technology has achieved a significant breakthrough in China, with product performance reaching international advanced levels, breaking the long-term monopoly of foreign products. In addition, the first domestically developed dual-end functionalized solution-polymerized styrene-butadiene rubber has broken foreign technology monopolies, ensuring strategic security for China’s tire industry chain. In the field of metallocene polyethylene, CNPC’s production has exceeded 60% of domestic total output, continuing to consolidate its leading position in the domestic market.
CNPC has made significant progress in various new material fields. Its wax production ranks first globally, with a domestic market share exceeding 85%. Domestic market shares for low-sulfur petroleum coke and premium electrode coke have reached 53% and are among the top globally, respectively. In terms of nitrile rubber, Lanzhou Petrochemical’s capacity has reached 100,000 tonnes per year, ranking second globally and first domestically. In solution-polymerized styrene-butadiene rubber production, Dushanzi Petrochemical is the domestic producer with the largest capacity and the most comprehensive product range. Specialized asphalt covers 11 categories, with a leading domestic market share in hydraulic and waterproof asphalt.
Looking ahead, the Refining and Chemical New Materials Company vows to continue remembering its mission, seizing opportunities, and focusing on high-end, intelligent, and green development. It will continuously strengthen the production and development of high-end materials, contributing to the high-quality development of the group company and the construction of a world-class enterprise.