2021 China's fine chemical market status/prospects

Fine chemicals are closely related to social economy, industrial and agricultural production, national life, and technological development, and are a key part of the formulation of chemical development strategies at home and abroad. In recent years, various countries in the world, especially industrialized countries, have taken the development of fine chemical products as one of the key development strategies for the structural upgrading and adjustment of traditional chemical industries, and their chemical industries have been developing in the direction of "refinement". Data show that the total industrial output value of my country's fine chemical industry in 2017 was 439.95 billion yuan.

A wide variety of products and a wide range of applications

Because certain chemical products have various chemical characteristics such as stability, lubricity, film-forming, thickening, and anti-corrosion, they have irreplaceable catalysis and auxiliary functions in a certain link in the industrial chain of many industries. There are many varieties of fine chemical products, and even the same product can be used in completely different industries as synthetic raw materials or auxiliary materials. Therefore, the application fields of fine chemical products are quite wide. Once the market in a certain industry is opened, it will bring huge market capacity space.

Unique technical service mode, high viscosity of downstream customers

The production process of fine chemical products is complex and diverse, with many chemical reaction links, and the intermediate process needs to be strictly controlled, which requires high product stability. In the production process, once the time, temperature, raw material ratio, catalyst selection and other aspects are slightly changed, the chemical properties of the final product may be changed to some extent; and it is often based on the same chemical reaction principle and technology. A set of machinery and equipment and production lines are likely to produce a variety of chemical products with similar chemical properties but different application fields. Downstream customers generally have high requirements for the quality stability of fine chemical products. Once a supplier is selected, it is rarely easy to change.

Strict quality control system

Since fine chemical products play an irreplaceable catalytic and auxiliary role in a certain industrial chain in many industries, the chemical characteristics of fine chemical products are relatively strict. Providing reliable, safe, and stable fine chemical products is the core advantage of fine chemical companies. Fine chemical companies generally have a strict control system on product quality.

Market prospects of fine chemical industry

1. Favorable national policies

According to the "Petrochemical and Chemical Industry Development Plan (2016-2020)" issued by the Ministry of Industry and Information Technology, the added value of the petrochemical and chemical industry during the 13th Five-Year Plan period will increase by 8% annually, and the sales profit margin will increase slightly, reaching 4.9 in 2020 %. At the same time, a national and industry innovation platform will be established in key areas such as new chemical materials, fine chemicals, and modern coal chemicals.

2. Large room for industry improvement

The overall technical level of my country's fine chemical products is still low, the core technology of the fine chemical industry still has a certain gap with the international advanced level, and the import dependence of high-performance, functional and high-value-added fine chemicals is still high. Compared with the level of refinement rate in developed countries, my country's fine chemical industry still has more room for improvement. With the steady growth of my country's economy, the continuous deepening of industrialization and informatization, and the adjustment and upgrading of industrial structure, especially the state attaches great importance to the fine chemical industry, my country's fine chemical industry will usher in good opportunities and a broad market in the future.