The Trend Of PTA Productivity In 2021

2019-2021 is the peak period of PTA production. The newly invested devices next year are basically concentrated in the hands of industry leaders, and the concentration degree of production capacity is further improved. And the industry's voice is becoming more and more important. Among them, Yisheng New Materials, Hengli and Honggang Petrochemical are mainly the expansion of existing production capacity. Fujian Baihong unit is the upstream extension of polyester enterprises. In terms of the size of the device, the newly added single set of device in 2021 reaches 2.67 million tons, all of which belong to large devices, which is significantly lower than the ton cost of the medium and small devices of 600,000 to 1 million tons. The cost per unit is relatively optimized to the lowest range.

By the end of 2021, domestic PTA production capacity will reach 73.09 million tons, with a growth rate of 28.02%. From the data, both the capacity base and expansion capacity growth rate are far higher than the demand end, the supply and demand pattern is basically established, PTA enters the period of overcapacity.

At present, Lonzhong has learned that the new device basically belongs to the supporting device of the leading enterprise in the industry or the downstream polyester enterprise extends to the upstream, which has advantages over the small and medium-sized devices in terms of scale, supporting facilities, cost and so on. This part of the equipment and the existing advantages of enterprises accounted for more than 60% of the total domestic production capacity, for next year's production growth to provide a guarantee.

In addition, the domestic PTA industry has entered the era of stock competition, and the current PTA processing fee is still not compressed to the situation that small and medium sized devices can not afford.

Therefore, backward production capacity cannot be effectively eliminated from the market before the expected first half of the year, which is an effective supplement to market supply. In the second half of the year, the effect of extrusion of some small and medium sized devices on the output should be considered.