Analysis of the future state of competition in the acrylic industry in China

1 Competition with potential entrants

Between 2023 and 2027, a total of 935 to 1.855 million tons of acrylic products are expected to come on stream from four to nine different Chinese companies, including large-scale refining and chemical integration projects. Due to the large scale of investment, complete industrial chain, its cost advantage is obvious, coupled with mature management and channel construction, profit cycle is strong, they have a relative advantage in the industrial chain each link of the cost and price, is expected to 2023-2027 China acrylic products industry pattern will also have a significant impact.

2 Competition with alternative products

Acrylic monomers are one of the major primary derivative processing products and one of the leading raw materials in the organic synthesis chemical industry. It has strong technical and economic value in production, preparation and derivative processing. The downstream development of acrylic has an increasingly significant impact on the overall development of the acrylic industry.  Currently, there is no replacement product. Its specific manifestations are as follows:

The α and β sites of acrylic acid are easily replaced by hydrogen, and the carboxyl group can generate ester, amide, acyl chloride, anhydride, etc. Its double bonds have the universal properties of double bonds, are chemically active, can be homopolymerized and copolymerized, and polymers have an extremely wide range of uses and are essential chemical raw materials;  The product and its esters can be used as polymer monomers;  In addition, it can be used as an adhesive, coating, resin, and additional raw materials;  The resin synthesized by this product can be used in pharmaceuticals, leather, textiles, paper, chemical fibers, rubber, building materials, plastics, packaging materials, water treatment, oil extraction and other industrial aspects.

3 Intra-industry competition

In terms of industry concentration, the CR4 capacity for acrylic products is 51.70% in 2022 and 54.19% in 2027, which also indicates a significant increase in the number of acrylic products industry players, and the position of the industry's leading companies remains stable.