The Rise Of New Forces Of Private Chemical Fiber: 60%PTA, 50% Polyester Production Capacity Is Firmly Held In Their Hands!

The epidemic has pushed the overseas market to press the "pause button", but the leading enterprises of chemical fiber have not stopped the pace of further expansion. Large scale leading enterprises will continue to expand with their scale and technological advantages, and the industry concentration will further enhance. In the future, private chemical fiber bibcock will enter the development stage of strong Heng Qiang.

1, Hengli Petrochemical: PTA-5 project equipment hoisting completed, annual production capacity of 200 thousand tons of high performance polyester industrial yarn project put into operation in July.

In May 6th, Shaanxi chemical construction and transportation company completed the installation of a 110 ton oxidation reactor agitator in the PTA-5 plant of Hengli petrochemical project in Dalian. So far, the company has completed the lifting task of all large and medium-sized equipment in Hengli petrochemical PTA-4/5 project in Dalian.

It is understood that Hengli petrochemical PTA-4/5 project lifting equipment for large and medium-sized equipment is divided into two parts PTA-4 and PTA-5. In June 2019, the PTA-4 project began to be hoisted. The construction and transportation company invested 20 construction personnel, which lasted for 11 months, and completed 128 large and medium-sized equipment hoisting. The total weight was about 13800 tons.

The successful lifting of the equipment marks the construction peak of Dalian Hengli Petrochemical 2 million 500 thousand ton / year PTA-4/5 project.

It is reported that Hengli Petrochemical (Dalian Changxing Island) Industrial Park total investment of 150 billion yuan, currently has 20 million tons / year refining and chemical integration, 1 million 500 thousand tons / year ethylene, 12 million tons / year PTA three key projects, after the completion of production, will reduce China's import dependence on high-end chemical raw materials.

　　 At the same time, the annual production of 200 thousand tons of high performance Dacron industrial yarn project is one of Hengli Group's key construction projects this year. It is understood that the current production capacity has completed over 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 operation in July.

The total investment of the project is more than 1 billion 500 million yuan, mainly for the production of high performance and automotive polyester industrial yarn. Its products are the basic materials of strategic emerging industries, and will be applied to automotive safety, marine engineering, petroleum exploration, military equipment and other special materials. The project will achieve intelligent production and possess more than 100 core technology invention patents. It is a major high-tech industrialization project with the most advanced technology in China's polyester industrial yarn industry and breaking through the difficult problems of foreign countries.

After the project is completed and put into operation, it is estimated that annual sales can reach 3 billion yuan, and annual profits and taxes will be 700 million yuan, which will support and guide the high quality development of Jiangsu's fiber manufacturing industry and its downstream industries.

Wang Shanshui, general manager of Hengli Chemical fiber Limited by Share Ltd, Jiangsu, said the project can lay a good foundation for the company to further expand its international market. At the same time, after the project is put into operation, it also marks the new upgrading of China's polyester industrial yarn industry in terms of capacity and efficiency, and will play a benchmark role in the industry.

It is understood that this year, although the epidemic to China's economic and chemical fiber industry to bring many challenges, but in this context, Hengli Group in Suzhou and southwest, Northern Jiangsu and other places total investment reached 43 billion yuan, Hengli (Suqian) fashion industrial park, Hengli (Luzhou) production Park and other projects are advancing smoothly in accordance with the rhythm. Hengli Group accelerates investment progress, promotes industrial scale, and accelerates regional economic recovery with major projects.

2, Sheng Hong integrated petrochemical projects successfully launched into a new stage.

In May 10th, in the Lianyungang petrochemical industrial base of Jiangsu, the first large equipment of Sheng Hong refining and chemical integration project was successfully hoisted.

The three class electric desalting tank weighing 330 tons in the 16 million ton / year atmospheric and vacuum distillation unit was steadily lifted by a 1350 ton crawler crane and was successfully positioned under the precise operation of technicians.

The total investment of Sheng Hong refining and chemical integration project is about 67 billion 700 million yuan, which is a major project in Jiangsu province. This hoisting is the first large-scale equipment hoisting of the project, marking the new stage of project construction. Before lifting, Sheng Hong refining and chemical organization construction unit and supervision unit repeatedly studied and demonstrated the lifting scheme, from hoisting foundation treatment to equipment foundation safety, from crane assembly to lifting rigging preparation, all work seriously organized preparations, to ensure foolproof.

Since the resumption of operation, Sheng Hong refining and chemical integration project is facing difficulties. It is closely related to the milestone in the commissioning of the plant and the successful commissioning of the project. In April 2nd, the construction of the production office building was started, and the wax oil hydrogenation unit started. In April 15th, the project 4*15 million tons / year sulfur recovery unit started; in April 28th, the project ethylene glycol and other devices started.

Low oil prices help the rise of new forces of private chemical fiber

In the 2019 annual report of the listed companies in the basic chemical industry, which has just been released, two private chemical companies have gone up in the opposite direction. Hengli Petrochemical's net profit is 10 billion 25 million yuan, second only to Wanhua chemical. Heng Yi Petrochemical net profit of 3 billion 201 million yuan, ranking fourth; Rongsheng Petrochemical net profit of 2 billion 207 million yuan, ranking ninth.

　　 It is worth noting that these companies, known as "the rise of new forces of private chemical fiber", are basically benefiting from the newly launched crude oil projects. Market analysis indicates that low oil prices are favorable for petrochemical enterprises after the oil price slump. On the one hand, low oil prices are conducive to the expansion of the downstream product spreads, and lower product prices are conducive to stimulating the growth of terminal demand, thereby promoting the increase of profits; on the other hand, low oil prices are facing rising opportunities, and the rise in oil prices brings industrial chain stock appreciation and production load upgrading. Thus stimulating demand growth.

The petroleum chemical fiber industry chain is concentrated in China, and the leading edge will be highlighted under the pressure of excess industrial chain.

In the past two years, the intensity of national environmental regulation and policy support is obvious. The former GSP gradually tends to strengthen and enhance the quality, and the market competition of the whole industry will escalate again. The market is increasingly leading to a few technologies, and the giant enterprises with obvious capacity advantages are concentrated.

Throughout the textile industry chain, the oligopoly of the industrial chain has been highlighted. The global "refining -PX-PTA- polyester filament" industrial chain has been concentrated in China, and China has become a major producer and consumer of petroleum chemical fiber products. China's "refining -PX-PTA- polyester filament" industrial chain has expanded rapidly in the past ten years, and a number of high-quality private enterprises have been sprung up. After the expansion and integration period, the production capacity has been concentrated on the head enterprises, and the industry concentration is relatively high. For example, the CR4 of the PTA industry is as high as 60%, and the CR4 of polyester filament industry is as high as 50%.

But at present, the whole industry chain is also facing excess pressure. According to capacity planning, the industry leaders in the future will not stop expanding. With the further expansion of leading enterprises, the industrial chain will usher in a new round of integration. The backward technology devices may shut down, and leading enterprises with the advantages of refining and chemical integration will emerge.

　　 On the other hand, the influence and control power of oligopoly enterprises on the industry is obviously enhanced. Take PTA as an example, after nearly two years of market supply and demand turning to a tight balance, PTA leading enterprises have taken the lead in changing the cooperation mode with downstream polyester factories. One is adjusted from spot purchase to about two, and the other products are transported downstream. The settlement price is determined by a certain proportion of the cost plus spot market price, and the discount is given according to the quantity of delivery. Leading enterprises have strong market influence and control capability.

According to the situation in recent years, domestic factories have higher requirements for the quality of products. As a result, those enterprises with the general level of technology and manufacturing will face more severe challenges. The superiority of PTA enterprises with outstanding quality and productivity will become more prominent in the next competition. Many of them were built earlier, and less competitive capacity of the old ones was basically in a long-term parking state.

Objectively speaking, it will lead to the following two trends:

First, the industry's integration and differentiation is a major manifestation of the growth of leading enterprises' shipments will be higher than the growth rate of the industry, and these giants enjoy the advantage of bargaining at the same time, or will continue to maintain high profitability and achieve rapid growth in product sales, which will lead to more capital invading factories and further accelerate the concentration of enterprises.

Second, the capacity utilization rate of leading enterprises is still at a relatively high level. As the expansion cycle is relatively long, in order to further consolidate the market share advantage and meet the turning point of the industry, leading enterprises will not slow down the pace of expansion, but will continue to expand production at a certain rate. Those enterprises that follow the leading enterprises will promote their own development with the rapid growth of leading enterprises.

It is foreseeable that the advantages of these leading enterprises will become more prominent, and downstream enterprises in order to avoid risks, it is impossible to use only one raw material, not only the competition between the strong and the weak, but also the competition between the strong and the strong.