Simply put, the relationship between modern coal chemical industry and petrochemical industry is one of mutual dependence and complementary roles. While the modern coal chemical industry can partially—though not entirely—substitute for petrochemical products, some products from the modern coal chemical industry are unique and not available in the petrochemical sector.

　　Our country is relatively... “ Rich in coal, poor in oil ” For our country, the appropriate and orderly development of modern coal chemical products holds certain strategic significance. After years of dedicated efforts, China has developed and built a range of modern coal chemical products, technologies, and equipment—including coal-to-oil, coal-to-olefins, coal-to-dimethyl ether, coal-to-ethylene glycol, and coal-to-natural gas—and has already achieved initial scale, laying a solid foundation for their further development.

　　No industry is as controversial as coal chemical engineering, yet this does not negate its importance. Our country... “ Lacking oil and gas, relatively rich in coal. ” The resource endowment characteristics of our country determine that coal-to-chemicals will inevitably become a major pillar of the chemical industry. Similarly, coal-to-oil and gas is also an important component of China’s energy strategy. “ Energy Security Strategy ” is an important component and plays a significant role in reducing China’s dependence on foreign oil and gas supplies and ensuring national energy security.

　　Zhang Jinyang, a senior engineer at Sinochem Fertilizer Co., Ltd., believes that the following four development trends in coal chemical industry are particularly worth paying attention to.

　　Coal chemical industry is an effective complement to petrochemical industry.

　　Simply put, the relationship between modern coal chemical industry and petrochemical industry is one of mutual dependence and complementarity. The modern coal chemical industry can partially—rather than completely—substitute for petrochemical products.

　　Oil prices are the key to the success or failure of modern coal-to-chemicals projects. Without them... “ Benchmark ” Talking about the profitability of coal chemical industry is meaningless. Precisely for this reason, it is particularly important to rationally control the scale of the coal chemical industry.

　　Currently, the advantages of coal chemical industry compared to petrochemical industry largely come at the expense of environmental capacity and carbon emissions. Once these advantages are gone... “ Free lunch ” Its competitive advantage will be incomparable and will emerge. “ Reversal ”。

　　Expected by 2020 In the coming years, it is highly likely that one-third of chemical products previously produced via petrochemical routes will be replaced by coal-to-chemicals. In other words, in the competition with petrochemicals, the ultimate goal of coal-to-chemicals is— “ One-third of the world is theirs. ”。

　　Extending the coal chemical industry chain is an inevitable choice.

　　Jin Yong, a professor at Tsinghua University and an academician of the Chinese Academy of Engineering, proposed that... “ The direction of coal chemical industry is materials, not fuels. ” This is an inevitable choice for the development of coal chemical industry. Therefore, fossil energy coal is artificially converted into another form... “ Artificial fossil fuels ” Coal-to-oil and coal-to-gas projects should not be vigorously encouraged or supported.

　　Converting coal into oil and gas involves transforming one energy source into another. Leaving aside the efficiency of energy conversion, the mere fact that carbon emissions exceed the allowable limits already presents an insurmountable obstacle, making large-scale promotion of this approach inappropriate. Until carbon emissions are thoroughly addressed, fully rolling out coal-to-chemicals would undoubtedly... “ To seek the end while neglecting the root. ”。

　　Therefore, it is essential to conduct a comprehensive summary and evaluation of the demonstration projects that have already been completed and put into operation; only on the basis of these evaluation results can we determine the future direction of coal-to-oil and coal-to-gas production.

　　Specifically, among the product chains involving coal-to-oil, coal-to-alcohol and ether fuels, coal-to-olefins, coal-to-natural gas, coal-to-ethylene glycol, and coal-to-aromatics, the development of coal-to-olefins, coal-to-aromatics, and coal-to-ethylene glycol should be given priority encouragement, while overall scale should also be kept under control.

　　Extending the industrial and product chains is an enduring theme in coal chemical engineering—and also the most effective way to prevent and resolve overcapacity in the coal chemical industry. Without the support of downstream markets, coal chemical engineering would become... “ Water without a source, a branch without a root. ”。

　　The boundaries between coal chemical and petrochemical industries are becoming blurred.

　　In the future, the boundary between petrochemicals and coal chemicals may become increasingly blurred, and the two industries will gradually merge. “ You are in me, and I am in you. ” In the context of large-scale chemical industry, the coupling and integration between petrochemicals and coal chemicals will become an inevitable trend.

　　By coupling coal-to-aromatics and coal-to-ethylene glycol, it is possible to produce polyethylene terephthalate (PET) from coal. PET The complete industrial chain of [company name] will become a new investment hotspot in coal chemical industry.

　　The future of coal chemical industry will be even more... “ Big ” and “ Fine ”

　　The future trend of the coal chemical industry will focus on: “ Big ” and “ Fine ” Two aspects. The former refers to the scaling up of size and production capacity—what we commonly call industry entry barriers, such as annual production capacity... 50 Ten thousand tons of olefins, 20 One hundred million cubic meters of natural gas, 100 Ten-thousand-ton coal-to-oil; the latter refers to market and technology segmentation—that is, enhancing the added value of conventional coal chemical products (such as methanol) by extending the product chain.

　　In addition, China’s coal chemical industry will likely split into two major camps: one comprising leading coal enterprises such as Shenhua, China National Coal Group, Yitai, and Henan Energy; the other consisting of prominent petrochemical companies like Sinopec and Yanchang Petroleum. In this rivalry between the two camps, the former currently enjoys a significant lead, though in the future, they are expected to reach a more balanced standoff.