With the continuous progress of PVC paste resin technology in China, the future production is expected to gradually increase

Polyvinyl chloride (PVC) is a polymer formed by free radical polymerization and reaction mechanism polymerization of vinyl chloride monomer (VCM) under the action of an initiator or photothermal agent. PVC can be divided into general resins and paste resins, among which PVC paste resins are often combined with plasticizers to make PVC paste. The raw materials of PVC paste resin mainly include calcium carbide, VCM, EDC, etc. PVC paste resin is a unique liquid material of PVC plastics in the raw state. It has the advantages of convenient configuration, stable performance, good chemical stability, higher mechanical strength, and is widely used in the production of soft trademarks, wallpaper, artificial leather, vinyl toys, foamed plastics and other products.

Due to the epidemic, PVC paste resin, as the main raw material for epidemic prevention materials such as PVC gloves, has seen rapid market demand growth. Driven by downstream industry demand, China's PVC paste resin production continues to grow. From 2012 to 2022, China's PVC paste resin production increased from 672000 tons to 1.124 million tons. With the continuous progress of China's PVC paste resin technology, future production is expected to gradually increase.

From the perspective of downstream consumption structure, gloves, artificial leather, automotive interiors, toys, etc. are its main application areas. Among them, the glove market accounts for up to 37.6%, the artificial leather market accounts for 22.3%, the automotive interior market accounts for 6.9%, and the toy market accounts for 4.2%.

At present, there are many participants in the PVC paste resin market in China, with larger enterprises mainly including Shenyang Chemical, Xinjiang Tianye, Xiyang Chemical, Chenhongli, Yidong Dongxing, Sanyou Chemical, Zhongyan Jilantai, Chlor-alkali Chemical, Jining Zhongyin, etc. Among them, listed enterprises mainly include Shenyang Chemical, Xinjiang Tianye, Sanyou Chemical, Chlor-alkali Chemical, etc. From the perspective of revenue, in 2022, Shenyang Chemical, Xinjiang Tianye, Sanyou Chemical, etc The total operating revenue of chlor alkali chemical industry was 5.941 billion yuan, 11.65 billion yuan, 23.68 billion yuan, and 6.364 billion yuan, respectively.

From the perspective of resin business revenue, Shenyang Chemical's resin business revenue has declined in the past two years. In 2022, Shenyang Chemical's resin business revenue reached 1.304 billion yuan, a year-on-year decrease of 43.5%.

According to research firm Hengzhou Chengsi (YH), the global PVC paste resin market size was approximately 26.5 billion yuan in 2022, with an annual compound growth rate of approximately% from 2018 to 2022. It is expected to continue to maintain a stable growth trend in the future, with the market size approaching 29.4 billion yuan by 2029 and a CAGR of 1.5% in the next six years.

The Asia Pacific region is the largest consumer region of PVC paste resin, with a market share of approximately 10%. China is the largest consumer country, with a consumption share of 33%. Next are Europe and North America, with 28% and 18% respectively.

The main manufacturers of PVC paste resin include Vinnolitm, Shenyang Chemical, Mexico, Kaneka, Xinjiang Tianye, Kem One, etc. Currently, Vinnolitm is the largest supplier of PVC paste resin, with a market share of over 10%.