2020 new polyester production capacity continues to grow

2020 has come to the end of the year, and the epidemic has brought heavy damage to the global economy. Although the polyester market has fallen to the bottom, the efficiency of polyester enterprises has become the most profitable end of the polyester industry chain, and polyester production capacity continues to grow , But the overall growth rate shows a trend of slowing down year after year.

China's polyester production capacity has increased from 48.15 million tons in 2016 to 63.725 million tons in 2020, with an average annual growth rate of 6.60%. From 2016 to 2017, the domestic polyester production capacity increased slowly in the past two years, with an average annual growth rate of 4.41%. 2018-2019 is the peak period for polyester production, with a total of 12.1 million tons of new capacity. After entering 2020, domestic polyester production capacity has continued to grow steadily, and the industry has reappeared in a crisis of overcapacity. The new capacity has been put into production as scheduled. This year, a total of 4.94 million tons of new production capacity will be added. In 2020, a total of 1.7 million tons of waste capacity will be deleted, and the capacity growth rate will drop to 5.77 %. And next year, a large number of new polyester projects are expected to be put into production, and polyester will resume its production peak.

This year, the new domestic polyester production capacity will be concentrated in the 2-3 quarters. With the effective control of the domestic epidemic situation, the economy has recovered steadily. The good domestic economic environment has laid a solid foundation for the scheduled commissioning of new domestic polyester projects. In particular, the newly added capacity reached 1.6 million tons in a single month in April. In terms of the new additions of polyester products, polyester filaments (including polyester industrial yarns) and polyester bottle flakes have the most added capacity, polyester bottle flakes have an additional capacity of 1.45 million, and polyester yarn has an additional capacity of 2.93 million. Ton. Most of the newly added polyester products focus on differentiated and functional specifications, and the polyester industry is developing towards high-end products.

In recent years, the market share of leading polyester companies has gradually increased. According to statistics from Jinlianchuang, there are currently 8 domestic polyester companies with a capacity of more than 2 million tons, and their total production capacity is 31.85 million tons, accounting for approximately 50% of the total domestic polyester production capacity. Among them, Hengyi has a production capacity of 6.98 million tons, and Tongkun polyester has a production capacity of 5.9 million tons. The combined production capacity of the two companies is 12.88 million tons, accounting for 20% of the total domestic polyester production capacity. It has a large market share and a polyester industry structure dominated by leading companies. Taking shape.

Most of the new polyester production capacity this year is also for the expansion of leading enterprises. Leading companies continue to expand their market share, which not only consolidates their competitive position, but also strengthens their control over prices. As far as the current polyester industry is concerned, the industry is highly concentrated, and larger companies play a leading role in the market, jointly promoting market development and maintaining industry profit levels, which to a certain extent is also beneficial to the healthy and stable development of the industry. Polyester companies grow and widen the industrial chain through horizontal or vertical integration. Large-scale, strong, and complete industrial chain companies will have more voice. Therefore, in the future polyester industry, brand effect and large-scale development are important An important bargaining chip for enterprises to compete for the market.