The average annual growth rate of China’s bottle-grade PET output from 2016 to 2020 is 12.11%. Among them, the output of polyester bottle flakes increased significantly from 2016 to 2018; the growth rate slowed down from 2019 to 2020. China’s total polyester bottle flake production in 2020 was 9.5252 million tons, an increase of 822,500 tons compared with 2019, a year-on-year increase of 9.45%. Although a large number of new devices were put into production in 2020, the production time was delayed due to the impact of the epidemic. Therefore, the output of newly put into production began to be released intensively in the second half of the year. At the same time, in the first half of the year, due to many unexpected shutdowns and maintenance equipment, the production capacity reached 2.05 million tons. They are: Jiangyin Chenggao 1.2 million tons; Shanghai Yuanfang Large Line 400,000 tons; Anyang Chemical 300,000 tons; Sichuan Wuliangye 150,000 tons.
As can be seen from the table above, the operating rate of domestic polyester bottle flake devices dropped to a low of 74.26% in recent years in 2020, mainly due to the centralized shutdown of the devices due to unexpected reasons in 2020.
Chart of production capacity proportion of polyester bottle flake manufacturers in 2020
There are 15 domestic bottle-grade PET manufacturers divided into groups. Among them, China Resources has factories in Zhuhai and Changzhou; Wankai has factories in Zhejiang and Chongqing; Yisheng has factories in Hainan and Liaoning. Overall, in 2020, after the new devices of Yisheng and Wankai were put into production, the top three rankings in the industry will be adjusted accordingly, and the degree of industrial concentration will be higher. Yisheng Petrochemical ranked first in the domestic industry with a production capacity of 2.7 million tons/year. Sanfangxiang’s production capacity of 2 million tons/year was lowered to second place, and Wankai ranked third with a production capacity of 1.8 million tons/year.
Looking at the regional share of production capacity, East China is still the main area for bottle-grade PET production, with a total regional production capacity of 6.8 million tons/year, and the share dropped to 56.86%. The production capacity in South China is 3.25 million tons, accounting for 27.17% of the national production capacity; the East and South China markets account for 84.03% of the domestic production capacity. With the successful start-up of Dalian Yisheng and Chongqing Wankai, the production capacity of polyester bottle flakes is extended to the northeast and southwest, which will form a new industrial cluster in the local area, open up the polyester industry chain, and effectively supplement the local supply of polyester bottle flakes Shortcomings and vacancies.
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