Market development pattern and forecast of China's PVC paste resin industry in 2021

The synthesis of PVC paste resin mainly consists of emulsion polymerization and micro suspension polymerization. Among them, emulsion polymerization PVC paste resin is mainly leather material, also known as large dish material. PVC paste resin produced by micro suspension polymerization is also called glove material. Its main raw material is vinyl chloride monomer. Vinyl chloride synthesis mainly includes calcium carbide method and petroleum method. The cost of calcium carbide method is lower than petroleum method, but the quality of vinyl chloride monomer produced by calcium carbide method is slightly worse than petroleum method, and the pollution caused by calcium carbide method is large, But at the same time, the oil law also has the problem of cost fluctuation caused by the rise of oil price, so the enterprises that can control the upstream raw materials have more advantages in cost control.

In 2019, the domestic production capacity of PVC paste resin was 1.28 million tons. Xiyang chlor alkali, Salt Lake Haina and Inner Mongolia Yidong are currently shut down. The industry has a limited production capacity of 1.05 million tons, an output of 920000 tons and an operating rate of nearly 90%. In 2020, novel coronavirus pneumonia affected the demand for PVC gloves. The production capacity of PVC paste resin reached 1 million 400 thousand tons at the end of 2020, the effective capacity of 1 million 150 thousand tons, and the output of about 1 million 120 thousand tons.

In 2020, driven by the demand for glove materials, the price of paste resin products will rise, and there will be some new production capacity in the industry. In 2020, an additional 90 thousand tons of capacity were produced. In the first half of the year, Xinjiang and China added 30 thousand tons of emulsion method, and Tangshan three friends added 20 thousand tons of micro suspension. In the second half of the year, Xinjiang and Zhongtai added 30 thousand tons of emulsion method, and Inner Mongolia's Gillan added 10 thousand tons of micro suspension.

Novel coronavirus pneumonia market in China in 2019 was about 7 billion 992 million yuan. In 2020, the supply of PVC paste resin was limited by the new crown pneumonia epidemic. The price of PVC paste resin gloves rose sharply, and the market size of PVC paste resin in China increased by more than 170%, about 22 billion 800 million yuan. PVC

From the perspective of import and export, the fluctuation of import quantity has decreased in recent years, and the degree of import dependence is low; As China is the main producer of downstream products of paste resin, the export volume of paste resin is small, and only about 3000-4000 tons are exported to Southeast Asian countries every month. From the downstream proportion, about 27% of PVC paste resin is used for gloves, 20% for artificial leather and 10% for automobile interior.