Polyester production capacity continues to grow, industry concentration increases

Release time:

2021-12-21

In recent years, due to the increasing social demand, China's polyester production capacity has continued to grow. Polyester is the main raw material for the textile industry and beverage packaging industry. The rapid development of the textile industry and beverage industry is the main reason for the rapid growth of polyester production capacity.

China's polyester production capacity increased from 50.55 million tons in 2017 to 66.975 million tons in 2021, with an average annual growth rate of 6.85. From 2015 to 2017, the growth rate of domestic polyester production capacity slowed down, with an average annual growth rate of 4.48. 2018-2019 is the peak period for polyester production, with a total of 12.1 million tons of new production capacity. 2020-2021, domestic polyester production capacity continued to grow steadily, the industry re-emergence of excess crisis, new capacity growth slowed down, 2021 to the present a total of 4.67 million tons of new capacity, the removal of waste capacity of 620000 tons, as well as some products for capacity correction adjustment, capacity growth rate of 4.69.

In recent years, the market share of polyester leading enterprises has gradually increased. According to Jinlianchuang statistics, up to now, the number of domestic polyester enterprises with more than 2 million tons is 9, with a total production capacity of 37.1 million tons, accounting for 55% of the total domestic polyester production capacity. Among them, Hengyi has a production capacity of 8.13 million tons, Xinfengming polyester has a production capacity of 6.3 million tons, Tongkun polyester has a production capacity of 5.9 million tons, and the total production capacity of the three companies is 20.33 million tons, accounting for 30.35 percent of the total domestic polyester production capacity. The market share is relatively large, and the polyester industry pattern dominated by leading enterprises is beginning to take shape.

This year's new polyester production capacity is also mostly leading enterprises to expand production capacity, of which Hengyi Group added polyester production capacity of 1.4 million tons, Xinfengming Group added polyester production capacity of 1.2 million tons, two new production capacity accounted for 58% of this year's new production capacity. Leading enterprises continue to expand their market share, which not only consolidates their competitive position, but also strengthens their control over prices. Polyester enterprises through horizontal or vertical integration to do long and wide industrial chain, large-scale, strong strength, industrial chain supporting enterprises will have more voice, so the future of the polyester industry, brand effect and large-scale development is an important bargaining chip for enterprises to compete for the market.

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