Modified plastics industry, the main listed companies: Jinfa Science and Technology (600143), the country's grace shares (002768), PuLiTe (002324), DaoShi shares (002838), will pass the shares (688219), with the benefit of the shares (300538), the national science and technology (300716), the poly stone chemical (688669), Yinxi Science & Technology (300221), Meilian New Material (300586), Walter (002886), Nanjing Jurong (300644), Jiezhijie (834166), Wochang Polymerization (832089), Jiangsu Boyun (301003), Fuhang Xinmai (832469), Qidu Xinmai (300995), PATEL ( 836871), Dawson Technology (871461) and Newmarket (835180).
This article's core data: modified plastics production and sales data, regional distribution, revenue
Industry Overview
1, Definition
Modified plastics refers to the general-purpose polymer resins through the Physical, chemical or both methods, the introduction of specific additives, or to change the structure of the resin molecular chain, or the formation of interpenetrating network structure, or the formation of the island structure and so on the new polymer resin materials obtained.
Compared with the original resin materials, modified plastics have more superior performance in electricity, magnetism, heat resistance, flame retardant, aging resistance, mechanical properties. The National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Commerce, the State Intellectual Property Office on June 23, 2011 promulgated the "current priority development of high-tech industrialization of key areas of the Guide (2011)" document, identified the current priority development of the top ten industries in the fourth industry, "new materials", which is a "polymer materials and new catalysts", including "general plastics modification technology", that is, modified plastics including PP, PE, ABS, PS, PVC, etc., modified plastics are prioritized for the development of new polymer materials.
Divided according to its functional applications, modified plastics can be divided into flame retardant resins, reinforced toughened resins, glass fiber reinforced thermoplastics, plastic alloys and PVC alloy products, etc., and its consumer groups and applications, see the following chart:
2, the industry chain analysis: the application of a wide range of
Modified plastics belong to the intermediate products in the petrochemical industry chain. Intermediate products in the petrochemical industry chain, mainly by the five general-purpose plastics and five engineering plastics for the plastic substrate processed, according to the different fillers, can make the modified material has a flame retardant, impact resistance, high toughness, easy to process and other characteristics. At present, modified plastics have been used in a large number of home appliances, automobiles, construction, packaging, light industry and other industries.
At present, the upstream of modified plastics mainly includes petrochemical, synthetic resin/plastic and modifier enterprises, of which the upstream petrochemical enterprises mainly include Sinopec, Shanghai Petrochemical, Huajin shares, etc.; upstream synthetic resin/plastic enterprises mainly include Yongyue Science and Technology, Huafeng Microfiber, Hongchang Electronics, Foshan Plastic Science and Technology, Excalibur shares, etc.; upstream modifiers include LiAnLong, Ricochem, Royal Horse Technology, Ruifeng High Material, Chenhua shares. Modified plastics industry chain in the middle of the industry chain mainly includes Jinfa Science and Technology, the country's shares, Pratt, Daoyuan shares, will pass the shares, with the benefit of the shares, national science and technology, polystone chemical, silver jubilee science and technology, the United States of America, new materials, Walter shares, Nanjing Jurong, Jieshijie and other enterprises.
Industry development history: industry slowdown
China's plastics industry started after the liberation of 1958, China's first set of polyvinyl chloride resin synthesis device was put into operation in Jinxi, marking China's synthetic resins as the main raw material for the plastics processing industry into the industrialization of the development of the period.1972, I
China has established a number of new plastics processing plants.
China has established a number of petrochemical-based raw material production bases, promoting the gradual development of China's plastics industry.
After the reform and opening up, China's plastics processing industry has entered a period of rapid development, the state has continuously launched policies to encourage the development of light industry, and through the large-scale introduction of advanced processing technology and equipment, and actively attract foreign capital to set up foreign-funded enterprises, and vigorously strengthen the transformation of scientific and technological achievements, which led to a great change in the whole sector of the plastics processing industry. During this period, China's modified plastics technology has also gradually emerged, but because of the relative backwardness of the modified technology, modified plastics product performance or quality can not fully meet the requirements of use, many high-end products are dependent on imports, the United States DuPont, Germany, BASF, the Netherlands, DSM and other international multinationals took the opportunity to enter the market in China, and at the same time, the domestic Guangdong, Jiangsu, Zhejiang, Shandong and other regions have emerged in China's first generation of modified plastics enterprises.
Entering the 21st century, China's manufacturing industry is developing rapidly, including automobiles and home appliances, the rapid popularization of the global energy conservation and environmental protection awareness continues to grow, prompting automobiles and home appliances to the lightweight, thin and light direction of the development of plastic products to metal and other materials, the substitution effect is obvious. The continued development of the domestic capital market, the domestic part of the rapid development of modified plastics enterprises, the rapid expansion of scale, technology continues to improve in the formulation design with strong technical capabilities, part of the performance of modified plastics products have reached the international advanced level, and gradually applied to high-end areas, boosting China's development into the world's largest plastics country.
Industry policy background: modified plastics is the national key to the development of new materials industry
Experience the "Thirteenth Five-Year", accelerate the transformation and upgrading of the plastics processing industry, improve the plastics processing industry's ability to independent innovation, new materials, new technologies, new equipment and new products. Popularization of new materials, new technologies, new equipment and new products, have become the "Thirteenth Five-Year Plan" of the top priority, the plastics industry policies have come and gone.
Looking forward to the "14th Five-Year Plan", China will carry out in-depth pollution prevention and control actions to strengthen the prevention and control of the whole chain of plastic pollution, and vigorously develop strategic emerging industries. New materials as the cornerstone of the development of strategic emerging industries, in the "14th Five-Year Plan" chemical new materials industry development strategy and tasks are highly valued, "14th Five-Year Plan" period will focus on the development of 5G communications base stations with the core of the copper-clad laminate resin materials (LCP, PI, epoxy resin, etc.). The "14th Five-Year Plan" period will focus on the development of 5G communication base station core copper cladding board resin materials (LCP, PI, epoxy resin, etc.); polysulfone, polyphenylsulfone, polyether ether ketone, liquid crystal polymers and other high performance engineering plastics.
Industry Development Status
1, modified plastics production continues to grow
2010-2019 China's modified plastics production year by year, in 2020, the domestic plastics production of 103.55 million tons, an increase of 7%, the modified rate of 21.7%, and the output of modified plastics in 2020 is 22.5 million tons.
2, Jiangsu, Zhejiang and Shandong for modified plastics production province
According to the National Bureau of Statistics announced the production of primary forms of plastics regional data for the calculation, in 2020, China's modified plastics production in the top three provinces were Jiangsu, Zhejiang and Shandong provinces, respectively, the output of 2,328,600 tons, 2,266,600 tons and 1,938,600 tons. The output is 2,328,600 tons, 2,266,600 tons and 1,938,600 tons, accounting for 10.92%, 10.63% and 9.09% of the domestic production of modified plastics, respectively.
3, home appliances and automobiles as the main downstream areas of modified plastics
From the downstream demand, home appliances, automobiles, office equipment, electrical and electronic and power tools are the main application areas of modified plastics. Among them, home appliances as the first major consumer of modified plastics in 2020, accounting for about 34%, followed by the automotive sector, accounting for 19%. With the national "plastic instead of steel", "plastic instead of wood" policy continues to promote, we believe that the future downstream demand for modified plastics will be more extensive. While the demand for traditional applications is gradually slowing down, new market applications will gradually be opened.
Industry Competition
1, regional competition: China's modified plastics industry production capacity is mainly distributed in East China
From the point of view of the distribution of production capacity, at present, China's modified plastics industry production capacity is mainly distributed in the East China region, the 2020 national modified plastics production top fifteen provinces and cities. Production of the top fifteen provinces and cities, East China accounted for five, East China modified plastics production accounted for the largest proportion, including Jiangsu Province modified plastics production accounted for 11.74%, Zhejiang Province modified plastics production accounted for 11.43%, Shandong Province modified plastics production accounted for 9.77%, Fujian Province modified plastics production accounted for 4.13%.
2, enterprise competition: the industry's overall concentration is relatively low, jinfa science and technology production and sales leading
According to the modified plastics industry listed companies published in the 2020 annual report data show that, in 2020, jinfa science and technology modified plastics sales of 1,546,600 tons, an increase of 22.36%; national grace shares modified Plastic sales of 301,200 tons, a year-on-year increase of 10.00%; Huitong shares modified plastic sales of 345,200 tons. At present, China's modified plastics industry's leading listed companies are Jinfa Science and Technology, Guoen shares and will pass shares, these three listed companies modified plastics business revenue and modified plastics production and sales volume is large. From the point of view of the production and sales rate, in 2020, only polystone chemical, silver jubilee science and technology and Walter shares of modified plastics production and sales ratio is greater than 100%, the other enterprises are in a state of overcapacity.
In 2020, from the modified plastics production, Jinfa Science and Technology's market share of 7.1%, Huitong's market share of 1.6%; Guoen's market share reached 1.4%.
Overall, China's modified plastics industry market concentration is not high, from the point of view of the production of each enterprise, in 2020, modified plastics operating market CR5 market share of 12.62%, mainly because of the modified plastics process is shorter and simpler, at present, some of the general-purpose large varieties of modified plastics of the original formula of the market is open, and therefore enter the manufacturer more. The core of the competitiveness of modified plastics products lies in the formula, in the design of the formula, raw materials and modification additives, slight changes in the ratio will cause large fluctuations in product performance indicators. Therefore, in the automotive, precision instruments and other areas of modified plastics technology and capital barriers are higher, while in the packaging, office supplies, tableware and other areas of application of modified plastics technology barriers are lower.
Industry Development Prospects and Trends Forecast
1, it is expected that in 2026, the domestic production of modified plastics reached 28.58 million tons or so
Modified plastics as a new material products, belong to the category of the country's strategic emerging industries, and therefore by the national policy to encourage and support. Support, the central and local for the healthy and stable operation of the industry to provide a good policy environment. Among them, "Made in China 2025", "Outline of the Fourteenth Five-Year Plan for National Economic and Social Development" and "13th Five-Year Plan for the Development of National Strategic Emerging Industries" set the direction for the development of modified plastics technology.
Future, modified plastics will be high-performance, environmental protection, multi-functional direction, and gradually penetrate into more applications. However, the current production environment of the modified plastics industry is not optimistic, the domestic modified plastics industry after the rapid development of the early stage, the industry is currently experiencing overcapacity status quo, at the same time, the domestic economic slowdown, international trade friction intensified, a number of countries to carry out the restriction of plastic ban on plastic. 2021 China's economy from the impact of the new crown epidemic began to recover from the impact of the modified plastics downstream industries in the automotive and household appliances have a greater impact on the two industries corresponding to the demand for modified plastics. Industry corresponding to the demand for modified plastics has also rebounded, the new crown epidemic brought about by the medical device equipment industry surge in demand for modified plastics increased the demand for modified plastics, a comprehensive view of the next five years, the domestic modified plastics industry will enter a period of recovery, the output began to grow, the compound annual growth rate is expected to be around 5% by 2026, the domestic production of modified plastics reached 28.58 million tons or so.
2, modified plastics applications continue to broaden, performance continues to improve, environmental
Modified plastics applications gradually broaden. The application of new technologies makes modified plastics in the flame retardant, alloying level has been continuously improved, and its applications from a single industrial field gradually to building materials, electrical and other fields to expand. For example, modified PP plastic can effectively replace the application of marble, which has a light weight, low cost, good processability and other characteristics.
Engineering plastics high performance. Engineering plastics through modification can enhance a variety of mechanical and physical properties to meet the downstream industry on engineering plastics high performance requirements, such as high temperature resistance, high flame retardant, high heat resistance, high flow, wear resistance, high rigidity and other properties. High-performance engineering plastics is mainly through the engineering plastics using the "alloying" method of processing, through the engineering plastics and some other plastics using *** mixing, grafting and blocking, etc., so that a variety of plastics performance organic combination, so as to build a new compatible with a variety of high-performance plastic materials, has been used in the engineering plastics, and now has been used in the engineering plastics industry. The plastic materials have been widely used in engineering applications.
Nano-modified plastics in the production process to add the amount of inorganic nanoparticles is small, the amount added is only about 1/10 of the usual amount of inorganic fillers, and the density of the composite material and the density of the original resin is not a big deviation, so the modified plastics obtained using nanotechnology will not be due to the increase in the density of modified plastics and the corresponding increase in the factory production cost of modified plastics, and it is also corresponding to the circumvention of the density of the filler is too much, so that it can be used as a new material. Therefore, the modified plastics obtained by nanotechnology will not increase the production cost of the modified plastics due to the increase of density of the modified plastics, and also avoid the defects of the modified plastics caused by the decrease of performance due to the excessive fillers. The performance of the modified plastics after nanoimprovement has been strengthened, and the nanoimproved plastics will not be broken in the process of processing or recycling, and the modified plastics have gained a strong recyclability.
With the growing global environmental awareness, consumers are demanding more and more flame retardant plastic products, non-halogen, low-smoke, low-toxicity environmentally friendly flame retardant has been more and more widely required to use, some multinational corporations, such as Sony, Apple, Hewlett-Packard, etc. have also put forward their own environmental standards, in addition to restricting halogenated compounds, but also on lead, cadmium, mercury, hexavalent chromium, and other heavy metals to implement the control of the limit.
The above data is from China Modified Plastics Industry Production and Sales Demand and Investment Forecast Analysis Report by Prospect Industry Research Institute.