Relationship between equivalent consumption and apparent consumption volume
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In a recent report on olefins, I came across data on the equivalent consumption and apparent consumption of propylene and ethylene over the past few years. What is the relationship between equivalent consumption and apparent consumption?
Ethylene is a raw material used in the production of synthetic resins, synthetic rubbers, organic products, and other items. The apparent consumption of ethylene refers to the amount of ethylene used in the manufacture of these products. Importing such downstream products is essentially equivalent to importing ethylene as well; therefore, the amount of ethylene consumed should be calculated by converting the volume of downstream products into an equivalent amount of ethylene. The calculation formula is: Ethylene equivalent = Apparent consumption of ethylene + Converted value of net imports of ethylene-based downstream products