The epidemic has caused overseas markets to press the “pause button”, but leading chemical fiber companies have not stopped expanding. Large leading companies will continue to expand by virtue of their scale and technological advantages, and industry concentration will further increase. In the future, private chemical fiber companies will continue to expand. The leader will enter the development stage where the strong will always be strong.
1. Hengli Petrochemical: PTA -5 Project equipment hoisting was completed, and the 200,000-ton-per-year high-performance polyester industrial yarn project was put into operation in July
On May 6, Shaanxi Chemical Construction Lifting Company completed the construction of Dalian Hengli Petrochemical The 110-ton oxidation reactor mixer equipment of the project PTA-5 unit was hoisted. So far, the company has fully completed all large and medium-sized equipment hoisting tasks for the Dalian Hengli Petrochemical PTA-4/5 project.
It is understood that the large and medium-sized equipment hoisting project of Hengli Petrochemical PTA-4/5 project is divided into PTA-4 and PTA- 5 two parts. In June 2019, the PTA-4 project started hoisting. The Chemical Construction Hoisting Company invested 20 construction personnel. It took 11 months to complete the hoisting of 128 large and medium-sized equipment, with a total weight of approximately 13,800 tons.
The successful hoisting of this equipment marks the climax of the construction of Dalian Hengli Petrochemical’s 2.5 million tons/year PTA-4/5 project.
It is reported that Hengli Petrochemical (Dalian Changxing Island) Industrial Park has a total investment of 150 billion yuan and currently has 20 million tons of The three key projects of /year refining and chemical integration, 1.5 million tons / year ethylene, and 12 million tons / year PTA will reduce my country’s dependence on the import of high-end chemical raw materials after they are completed and put into production.
At the same time, the project with an annual output of 200,000 tons of high-performance polyester industrial yarn is one of the key projects of Hengli Group this year. , it is understood that the current production capacity has completed more than 90% of the overall progress. It is expected that the first equipment installation and commissioning will be carried out in June and will be put into production in July.
The total investment in this project exceeds 1.5 billion yuan and is mainly focused on the production of high-performance and automotive polyester industrial yarns. Its products are basic materials for strategic emerging industries and will be used in special materials fields such as automotive safety, marine engineering, oil exploration, and military equipment. The project will realize intelligent production and has more than 100 core technology invention patents. It is currently the most advanced technology in my country’s polyester industrial yarn industry and a major high-tech industrialization project that breaks through the “stuck neck” problem abroad.
After the project is completed and put into operation, it is expected that annual sales will reach about 3 billion yuan, and annual profits and taxes can reach 700 million yuan. , will support and lead the high-quality development of the fiber manufacturing industry and its downstream industries in Jiangsu Province.
Wang Shanshui, general manager of Jiangsu Hengli Chemical Fiber Co., Ltd., said that this project can lay a good foundation for the company to further expand the international market. Base. At the same time, after the project is put into production, it will also mark a new improvement in production capacity and efficiency of my country’s polyester industrial yarn industry, and will play a certain benchmarking role in the industry.
It is understood that although the epidemic has brought many challenges to my country’s economy and the operation of the chemical fiber industry since this year, in this context, Hengli Group has established operations in Suzhou, southwest and northern Jiangsu, etc. The total investment in the area has reached 43 billion yuan, and projects such as Hengli (Suqian) Fashion Industrial Park and Hengli (Luzhou) Industrial Park are progressing smoothly according to the rhythm. Hengli Group accelerates investment progress, enhances industrial scale, and drives regional economic recovery with major projects.
2. The hoisting of Shenghong Refining and Chemical Integration Project successfully entered a new stage
On May 10, the first large piece of equipment of the Shenghong Refining and Chemical Integration Project was successfully hoisted in the Lianyungang Petrochemical Industry Base in Jiangsu Province.
The 330-ton tricycle in the 16 million tons/year atmospheric and vacuum distillation unit The electric desalination tank was steadily lifted by a 1,350-ton crawler crane and successfully placed in place under the precise operation of technicians.
The total investment of the Shenghong Refining and Chemical Integration Project is approximately 67.7 billion yuan, which is a major project in Jiangsu Province project. This hoisting is the first large-scale equipment hoisting in this project, marking a new stage of project construction. Before hoisting, Shenghong Refinery organized the construction unit and supervision unit to conduct repeated research and demonstration on the hoisting plan. From hoisting foundation processing to equipment foundation installation, from crane assembly to hoisting rigging preparation, all work was carefully organized and prepared to ensure nothing went wrong.
Since the resumption of work, the Shenghong Refining and Chemical Integration Project has faced the difficulties, closely focused on the milestone goals of device delivery and successful commissioning, racing against time, comprehensively advancing construction, and striving to regain the resources delayed by the epidemic. progress. On April 2, the construction of the project production office building started.The wax oil hydrogenation unit started construction; on April 15, the project’s 4*150,000 tons/year sulfur recovery combined unit started; on April 28, the project’s ethylene glycol and other devices started construction.
Low oil prices have helped the rise of new private chemical fiber forces
Just some time ago In the “2019 Annual Report of Listed Companies in the Basic Chemical Industry” released, two private chemical companies bucked the trend and made a blockbuster rise. Among them, Hengli Petrochemical’s net profit was 10.025 billion yuan, second only to Wanhua Chemical. Hengyi Petrochemical’s net profit was 3.201 billion yuan, ranking fourth; Rongsheng Petrochemical’s net profit was 2.207 billion yuan, ranking ninth.
It is worth noting that these companies, which are known as “the rise of new private chemical fiber forces”, are basically Benefit from newly commissioned crude oil projects. Market analysis points out that low oil prices after the oil price crash are beneficial to petrochemical companies. On the one hand, low oil prices are conducive to the expansion of downstream product price differences, and lower product prices are conducive to stimulating the growth of terminal demand, thereby promoting the improvement of profits; on the other hand, low oil prices are conducive to the expansion of downstream product price differences. , low oil prices face the opportunity to rise. Rising oil prices will bring about an increase in the inventory value of the industrial chain and an increase in production load, thereby stimulating demand growth.
The petrochemical fiber industry chain is concentrated in my country, and the leading advantage may be highlighted under the pressure of excess in the industry chain
In the past two years, the intensity of national environmental protection rectification and policy support have obviously gradually shifted from the previous GSP to supporting the strong and the superior, and the market competition in the entire industry will also escalate again, and the market is becoming more and more Concentrate on a few giant companies with leading technologies and obvious production capacity advantages.
Looking at the textile industry chain, the oligarchy situation in the industry chain has become prominent. The global “refining-PX-PTA-polyester filament” industrial chain is concentrated in China, and my country has become a major producer and consumer of petrochemical fiber products. my country’s “refining-PX-PTA-polyester filament” industrial chain has expanded rapidly in the past decade, and a number of high-quality refining and chemical integrated private enterprises have emerged. After a period of expansion and integration, production capacity has been concentrated in leading enterprises. Industry concentration is high, for example, the CR4 of the PTA industry is as high as 60%, and the CR4 of the polyester filament industry is as high as 50%.
However, the entire industry chain is currently facing excess pressure. According to production capacity planning, industry leaders will not stop their expansion in the future. As leading companies further expand their capabilities, the industry chain may Ushering in a new round of integration period, small devices with backward technology may be shut down, and leading companies with scale advantages in refining and chemical integration will stand out.
On the other hand, the influence and control of oligarchs on the industry has increased significantly. Taking PTA as an example, after the market supply and demand turned to a tight balance in the past two years, leading PTA companies took the lead in changing the cooperation model with downstream polyester factories. One is adjusted from spot purchases to annual contracts, and the other is that the product freight is transferred to the downstream. The settlement price is determined by a certain ratio between the cost plus and the spot market price, and different degrees of discounts are given based on the volume of delivery. The market influence and control of leading enterprises are fully demonstrated.
From recent years, we have learned that major domestic factories have higher quality requirements for products. As a result, those companies with average technology and manufacturing levels will face more severe tests, while PTA companies with outstanding high-quality production capacity will have an increasingly prominent advantage in the subsequent competition. Many of the older, smaller and older production capacities that were built earlier have become less competitive and are basically in a state of long-term parking.
Objectively speaking, it will lead to the following two trends:
First, a major manifestation of integration and differentiation within the industry is that the shipment growth of leading companies will be higher than the industry growth rate. At the same time, these giants enjoy bargaining advantages and may continue to maintain high profitability and achieve rapid growth in product sales. This will lead to the intrusion of more capital into manufacturers, further accelerating the centralization of enterprises.
Secondly, the capacity utilization rate of leading enterprises is still at a high level. Due to the long production expansion cycle, in order to further consolidate the market share advantage and meet the industry turning point, leading enterprises must not They will slow down the pace of production expansion, but continue to expand production at a certain speed. Those companies that follow leading companies will drive their own development with the rapid growth of leading companies.
It is foreseeable that the advantages of these leading companies will become more and more prominent, and in order to avoid risks, downstream companies cannot only use raw materials from one company, not only the strong and the weak. The competition between the strong and the strong will become increasingly fierce. </p
