N95 mask as an important member of the epidemic prevention and control materials, focusing on the eyes of the people of the country, the relevant listed companies there may be investment opportunities have also been the attention of the capital.N95 cup masks are composed of needle punched cotton, meltblown cloth, non-woven fabrics, to form the SMS structure. In the N95 mask, the most important is in the middle layer of the barrier layer or meltblown layer, meltblown layer fiber is relatively fine, to prevent bacteria, blood infiltration plays a vital role.
All the raw materials of the mask are made of polypropylene (PP for short), and the intermediate products are polypropylene fibers, of which the best quality is polypropylene high soluble nonwoven. Only in terms of polypropylene, its application is very wide, for the production of polypropylene woven bags, bags, injection molded products used in the production of electrical appliances, telecommunications, lighting, lighting equipment and television sets, flame retardant parts, polypropylene fibers accounted for only about 10% of the downstream consumption of PP. The application of polypropylene fiber is also very wide, of which nonwoven fabrics accounted for about 70%, and nonwoven fabrics are mainly used for packaging materials and sanitary materials, sanitary materials, the corresponding raw material is the high-melt fiber. In healthcare, nonwoven fabrics produced from polypropylene nonwoven specialties can be used for disposable surgical gowns, sheets, masks, cover cloths, liquid absorbent pads, and so on.
In 2019, China's PP production is about 22,348,200 tons, an increase of 6.82% year-on-year, of which about 1.7 million tons of polypropylene fiber production. Polypropylene fibers in the high melt 950,000 tons, 770,000 tons in the melt, high melt products in Sinopec accounted for 26%, PetroChina accounted for 37%, in addition to the coal chemical industry and local enterprises increased significantly. According to relevant media reports, the current domestic high melting fiber enterprises *** 31, 2019 production in 880,000 tons or so, relative to the production capacity, there is still a certain surplus.
Mask demand growth on polypropylene is limited, polypropylene business performance still depends on economic fundamentals. mask consumption of polypropylene accounted for a relatively small, according to the China Textile Network data, in 2018, China's production of various types of masks 4.54 billion, combined with market data 1 ton of high melting finger polypropylene fiber material can be produced nearly 250,000 polypropylene medical masks, even if all the masks with the production of polypropylene, there are only 20,000 tons of volume, accounting for only less than 3% of the supply of high melting fiber material.
From the polypropylene price chart can be seen, since the end of 18, polypropylene industry boom continued to decline, mainly by the impact of economic fundamentals. It is difficult to reverse the business situation of polypropylene enterprises only by the stage of the mask industry, the needs of the downstream of polypropylene are more relevant to the real estate industry.
Polypropylene future supply growth rate is faster, there is a certain digestion pressure. According to public information, in 2019-2020, China's polypropylene new capacity will be as high as 14.1 million tons or more. East China's new capacity accounts for the largest share of the new capacity is expected to reach 5.8 million tons in 2019-2020, accounting for 41%, followed by the northeast region accounting for 16%.
Mask industry chain in the middle of the enterprise is non-woven raw materials manufacturers, such as listed companies Xinlong Holdings; downstream is the mask manufacturers, such as 3M China. In order to dispel the worries of overcapacity brought about by the enterprises to speed up the production capacity, for the downstream enterprises to produce the prevention and control materials, the NDRC expressed that it will be stored, as long as it meets the standards.
Therefore, the mask on the industry chain to drive the industry is not significant, but for the micro individual enterprises is indeed the existence of certain favorable.