Challenges and Opportunities of China's New Coal Chemical Industry for the Petrochemical Industry

Development status of new coal chemical industry was introduced. In the face of crude oil shortage and overcapacity of traditional coal chemical industry, to develop new coal chemical industry can facilitate the adjustment of industrial structure and transformation of China's energy consumption. Coal-to-oil, MTO, MTP, coal-to-natural gas, and coal-to-alcohol fuel processes can supply the petrochemical products. The new coal chemical industry on the market and the cost brings a lot of challenges to the petrochemical industry. However, there are some opportunities: One is to raise the level of refining technology and to pay attention to environmental protection, the second is to solve the petrochemical industry overcapacity problem and to adjust industrial structure, and the third is to reduce our dependence on foreign oil.