TOKYO, Apr 16-Production of ethylene, a raw material used to make petrochemical products, jumped 10.7 per cent in fiscal year 2009 to top 7.21 million tons, according to figures released Thursday by the Japan Petrochemical Industry Association.
The increase, the first in three years, was sparked by growing Chinese demand for resins used in automobiles and electrical equipment.
Ethylene production hit a 14-year low in fiscal year 2008 due to the sluggish global economy following the Lehman shock. Demand has rebounded dramatically since last spring, and has gained further momentum since the start of this year.
March ethylene production climbed 1.7 per cent on the year to 513,400 tons, with production facilities operating at 94.6 per cent capacity on average during the month. That represented a sharp recovery from March 2009, when capacity utilization sank to 74.1 per cent, the lowest level since the association began tracking the figure in 1996.
The increase, the first in three years, was sparked by growing Chinese demand for resins used in automobiles and electrical equipment.
Ethylene production hit a 14-year low in fiscal year 2008 due to the sluggish global economy following the Lehman shock. Demand has rebounded dramatically since last spring, and has gained further momentum since the start of this year.
March ethylene production climbed 1.7 per cent on the year to 513,400 tons, with production facilities operating at 94.6 per cent capacity on average during the month. That represented a sharp recovery from March 2009, when capacity utilization sank to 74.1 per cent, the lowest level since the association began tracking the figure in 1996.
