With the acceleration of the global economic integration process and the continuous development of our country's socialist market economy, our country's domestic market is gradually integrating with foreign markets, which means that a large number of foreign high-quality, low-price products will enter our country's market, which makes our country The petrochemical industry faces severe challenges in market competition. How to correctly face its development difficulties and external challenges has become an issue that the petrochemical industry attaches particular importance to. This article analyzes the current situation of Northern Huajin, a petrochemical enterprise, to reflect the problems and challenges that my country's petrochemical industry is facing and to predict its future development.