Authoritative Interpretation Of The Development Status Of China'S Regenerated PET Fiber Industry Chain

In 2017, the total output of China's chemical fiber has exceeded 50 million T, accounting for more than 70% of the world's total, of which the output of polyester fiber accounts for about 80% of the total output of chemical fiber.

The problem of waste pollution associated with huge production is also becoming increasingly serious.

according to

Estimate, at present

The total social stock is close to 400 million T.

Therefore, the development of regeneration chemistry

It is the only way for sustainable development in China.

Raw material industry of regenerated PET fiber

The regenerated PET fiber industry is a raw material shortage industry. The main raw material is the waste PET bottle recycling material. Among them, the supply of PET bottle chips is less than 5% of the total raw materials supplied by the waste materials produced in the process of polyester fiber production and the small amount of PET fiber and the amount of raw materials available is about 8% to the total raw material supply.

From the chart below, we can see that the supply of recycled bottle has always accounted for about 60% of the capacity of regenerated PET fiber (including the annual PET imports of about 2 million T).

Matching between raw material supply and capacity in China's regenerated polyester industry from 2005 to 2017

In the past 3 years, the supply of recycled PET raw materials has gradually developed to a large scale, and the trend of raw materials being concentrated into large enterprises and large groups is becoming more and more obvious.

Large enterprises participating in the industry include ring Jia group, Gezhouba Dam group, aerospace technology, China renewable resources, Zhejiang Hua Fei and Jiu Long technology. Some of the leading enterprises are ready to enter.

(for example, the green environmental protection technology company, etc.), a group of recycled fiber enterprises are preparing to gradually withdraw from the recycling industry to enter the primary polyester industry.

Price trend of recycled PET bottles in 2017

According to the policy announced by the Ministry of environmental protection and solid waste management center, the import of PET bottles in 2018 is expected to drop to about 200 thousand t/ years. This means that if production is maintained at the level of 2017, the raw material gap will reach 1 million 800 thousand T in 2018, accounting for 26% of the output of recycled PET fiber in 2017.

At the same time, as the country completely stopped importing PET waste in 2018, the shortage of raw materials will further intensify.

If the price of raw PET fiber remains unchanged in 2017, it will seriously squeeze the profit margins of recycled PET fiber enterprises.

The pformation, upgrading, structural adjustment and merger and reorganization of the regenerated PET fiber industry will accelerate in the coming period.

Regenerated PET fiber industry

The products of China's regenerated PET are mainly fibers.

By the end of 2017, the capacity of China's regenerated PET fiber has exceeded 10 million T, ranking the first place in the world, but its share of the world continued to decline. This also reflects the actual situation of China's regenerated PET fiber enterprises and production capacity starting to accelerate the going out.

The domestic productivity distribution of recycled PET fiber is still concentrated in Jiangsu and Zhejiang provinces. The development of inland areas is constrained by various reasons, and is not as optimistic as many people in the industry expected to develop 3 years ago.

Changes in productivity and output of China's regenerated PET fiber from 2005 to 2017

The changes in capacity, output and capacity utilization of industries tend to be stable, reflecting the characteristics of overheated development and rationality.

Difference and native PET

Industry, due to the constraints of raw materials supply radius, raw material pollution control and enterprise management capabilities, regenerated PET fibers.

There is no obvious advantage of large-scale production.

Some leading enterprises with domestic capacity ranging from 150 thousand to 200 thousand t/a (such as Cixi Dafa, Shandong Long Fu company, Yangzhou Tian Fulong company, Zhejiang Haili company, etc.) have stopped the pace of capacity expansion, and the new entrants also tend to be cautious about the development of the industry.

Growth, productivity and utilization of recycled PET fiber from 2005 to 2017

Due to the regeneration of PET

There is no guarantee of uniformity of color, poor quality stability and low volume ratio, which makes it difficult to initially apply products in the fashion and home textiles market.

Since 2015, a large number of regenerated PET filament enterprises have been shut down, resulting in a decline in the proportion of regenerated PET filament in the composition of recycled PET fiber products.