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Chem366 — The performance of China’s PO market in 2020 is abnormal. Various influencing factors are intertwined. From the perspective of production, the impact of the epidemic on domestic PO production is mainly reflected in the first half of the year. With the outbreak of the epidemic at the beginning of the year, post-holiday rework of people in various places was postponed, transportation was restricted, and the downstream consumer market of the terminal was closed. Through the transmission of the industrial chain, the production of upstream raw materials was shackles. In the second half of the year, due to good domestic control, the impact of the epidemic has been significantly controlled. The downstream demand of each terminal is slowly recovering.
In 2020, the global PO production capacity can reach 11.73 million tons/year. Among them, Thailand’s PTTGC has newly added capacity of 200,000 tons/year. Nanjing Jinpu Kumho’s 100,000-ton/year PO plant was shut down at the end of 2019 due to geographical location and environmental protection policies. So far, Jinpu Kumho has not yet resumed normal production.
As of now, China’s cyclopropane production capacity has reached 3.367 million tons per year, accounting for 28.7% of the world’s total production capacity and 55.6% of Asia’s.
Looking forward to 2021, positive and negative news such as cyclopropane factory maintenance and new production capacity will intertwine, and the market game pattern is expected to change.
Supply side:
From a negative point of view, in the second quarter Sinochem Quanzhou 300,000 tons of cyclopropane, China Ocean Shell 300,000 tons, and Fuqiang New Materials 200,000 tons of new equipment will be put into production first, and some of them will be put into surrounding markets for their own use. . In 2021, the new production capacity will reach 1.95 million tons, and the total production capacity will reach 5.317 million tons, which is bound to increase the flow of goods in the market.
2021 domestic plant commissioning
|
Company |
craft |
Capacity (10,000 tons/year) |
Production time |
|
Jiangsu Fuqiang New Materials |
HPPO |
20 |
2021 year4month |
|
China Sea Shell |
PO/SM |
30 |
2021 April |
|
Taixing Yida Chemical |
HPPO |
15 |
2021 Mid-year |
|
Sinochem Quanzhou |
PO/SM |
30 |
2021 year4month |
|
Wanhua Chemical |
PO/SM |
30 |
2021 year 4th quarter |
|
Tianjin Dagu |
PO/SM |
20 |
2021 year 3 quarter |
|
Zhenhai Town Hailiande-family: equal line”>day |
|||
|
Japan Asahi Glass Chemical |
11 |
5– 6months, estimated 21 days |
|
|
Tokuyama, Japan |
8 |
July, expected 30day |
|
|
Total |
88 |
||
Demand side:
According to the statistics of Tiantian Chemical Network, China’s output About 2.523 million tons, the import volume is 470,000 tons, and the apparent consumption is 2.993 million tons. Polyether is still the largest downstream product of PO, accounting for 74.37% of PO consumption in 2020. Downstream polyether is mostly used in car seats, furniture, fabric linings, sound insulation materials, etc., close to every aspect of people’s lives. In 2020, affected by the epidemic, the export of downstream soft foam polyether will surge.
According to customs data, the export of soft foam polyether bottomed out in May 2020 and has continued to grow. The export volume in November increased by 159 tons compared with the 39,000 tons in May % to 101,000 tons, and the monthly export volume set a new record. In 2020, the annual export will be 802,000 tons, an increase of 6.6% over last year.
Soft foam polyether is mostly used in the furniture industry. According to the data released by the General Administration of Customs, the cumulative export value of furniture and its parts from January to February was 11 billion, an increase of 81.7% over the same period in 2020 (year-on-year). In the first two months, foreign trade imports and exports increased significantly, “the off-season is not slow”, continued the import and export from negative to positive since June last year, and continued to improve .
The “Chinese New Year in situ” policy has accelerated the progress of resuming work after the festival and ensured the production end’s support for exports . According to the Ministry of Human Resources and Social Security, big data monitoring shows that 80 million migrant workers will spend the New Year in their places of employment this year, an increase of 40 million over the previous year.
According to the General Administration of Customs, exports to the United States from January to February reached 87.3% year-on-year,Other major exporting countries are the UK (84.4%), the European Union (62.6%), Japan (47.7%), and ASEAN (53%). It can be seenThe United States and Europe are still the main driving forces for China’s high export growth. ChachaHigh demand and low supply are the biggest problems in the entire American furniture retail industry right now.
In general, the cyclopropane industry will face huge opportunities and challenges in 2021.
:14px”>Soft foam polyether It is mostly used in the furniture industry. According to the data released by the General Administration of Customs, the cumulative export value of furniture and its parts from January to February was 11 billion, an increase of 81.7% over the same period in 2020 (year-on-year). “The off-season is not slow”, continued the trend of import and export from negative to positive and continued to improve since June last year.
The “Chinese New Year in situ” policy has accelerated the progress of resuming work after the festival and ensured the production end’s support for exports . According to the Ministry of Human Resources and Social Security, big data monitoring shows that 80 million migrant workers will spend the New Year in their places of employment this year, an increase of 40 million over the previous year.
According to the General Administration of Customs, exports to the United States from January to February reached 87.3% year-on-year,Other major exporting countries are the UK (84.4%), the European Union (62.6%), Japan (47.7%), and ASEAN (53%). It can be seenThe United States and Europe are still the main driving forces for China’s high export growth. ChachaHigh demand and low supply are the biggest problems in the entire American furniture retail industry right now.
In general, the cyclopropane industry will face huge opportunities and challenges in 2021.
