1.2.2 Petrochemical Capacity 1.2.3 Petrochemical Sales Note: Included sales of Trading business (iPolymer) Petrochemical 2021 2020 %Change Utilization Rate Olefins Group 95% 93% 2% Aromatics and Styrenics Group 99% 98% 1% In 2021, the utilization rate of Olefins group was 95% increasing by 2% from that in 2020 of 93%. In addition, the utilization rate of Aromatics and Styrenics group was 99% being close to that in the prior year. Products Sales Volume (KMT) Sales Value (Million Baht) 2021 2020 2021 2020 Olefins Group 1,062 1,029 42,011 29,578 Aromatics and Styrenics Group 727 703 29,078 17,879 Total 1,789 1,732 71,089 47,457 Net sales of petrochemical businesses in 2021 rose by 50% from that in 2020 as the average selling prices improved by 47% and the sales volume increased by 3%. Net sales of petrochemical businesses in 2021 were Baht 71,089 million rising by Baht 23,632 million or 50% from that last year. This was mainly owing to a 47% increase in the average selling prices and a 3% increase in the sales volume equaling 57,000 tons. The escalated sales volume was mainly from PP in Olefins group and all products in Aromatics group. measures from various parts of the world such as the U.S., Europe, and Thailand also encouraged the demand recovery. However, the supply chain disruption being caused by shortages of semiconductor chips as well as ships and containers, along with elevated freight costs, remained major impediments lowering the demand for petrochemical products significantly owing to rising prices following higher costs. These obstacles were seen in certain industries including automotive, electrical and electronics appliances. Furthermore, according to the COVID-19 situations, there were some new production capacity in Asia being initially planned to start the commercial production in late 2020 that were postponed to the second half of 2021 and 2022. The postponement entailed pressured petrochemical product prices in late 2021 due to the expanding production capacity, particularly from China, South Korea, India, and Vietnam. 169 Management Discussion and Analysis (MD&A) IRPC PUBLIC COMPANY LIMITED
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