In 2021, the average PE price was 1,299 USD per ton, increased by 41% from the previous year, as following the higher of Crude oil price. While the market was supported by easing lockdown in many countries due to the speed-up of the progress on vaccination which impacted to the demand growth, although was under pressure from the new supply in the market. In 2021, MEG (ACP) price was 846 USD per ton, increased by 35% from 2020, as following the higher of Ethylene price, although was pressured by weaker demand in downstream industries. Adjusted EBITDA of Olefins and Derivatives (Unit: Million Baht) 2020 2021 YoY % +/(-) Adjusted EBITDA 14,795 27,350 85% Adjusted EBITDA (%)* 16% 20% 4% Utilization Rate Olefins (%) 97% 91% -6% Utilization Rate Polymer (%) 101% 103% 2% Note: *If included PTA, PET %Adj. EBITDA in 2020 and 2021 are 14% and 17% respectively.In 2021, Olefins plants had average utilization rate of 91%, Olefins and Derivatives Business Unit Prices and Spreads of Olefins and Derivatives (Unit: USD per ton) 2020 2021 YoY % +/(-) Naphtha (MOPJ) 380 646 70% Ethylene (SEA) 713 1,008 41% Propylene (SEA) 775 966 25% Avg. PE 919 1,299 41% HDPE 880 1,181 34% HDPE-Naphtha 500 536 7% LLDPE 867 1,200 38% LLDPE- Naphtha 487 554 14% LDPE 1,010 1,516 50% LDPE- Naphtha 630 870 38% PP 992 1,321 33% PP-Naphtha 612 675 10% MEG (ACP) 627 846 35% MEG-0.65 Ethylene 164 191 16% 102 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
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