2017 China's polyester capacity plan increased by 4.5 million tons

According to relevant data, from January to December 2017, domestic polyester plans to increase production capacity by 4.5 million tons. Among them, the production capacity with relatively clear production time totaled 3.15 million tons, of which 68.3% of the production capacity was put into production in the second and third quarters. Specific to the sub-industry, polyester filament yarn plans to increase 1.55 million tons, accounting for 34.4%; polyester staple fiber plans to increase 200,000 tons, accounting for 4.4%; polyester bottle tablets plan to increase 2.75 million tons, accounting for 61.1%.
From the perspective of new capacity, the polyester bottle production unit has become the “biggest” in the polyester industry this year. It mainly includes: 500,000 tons of new materials, 500,000 tons of Jiangyin Chengxing, 500,000 tons of Hainan Yisheng and 500,000 tons of Sanfangxiang Group. In 2016, China's polyester bottle production capacity totaled 7.570 million tons, and the annual output was about 6.306 million tons, an increase of 7.0%. Since Wuliangye Group's 150,000-ton unit has been in a state of parking and Hengyi Petrochemical (Shanghai) has relocated 250,000 tons of equipment, the actual effective capacity is about 7.17 million tons.
According to the data of the last three years, the average operating rates of polyester chips, polyester staple fibers, polyester filament yarns and polyester bottle tablets were 62.1%, 64.1%, 69.6% and 79.7%, respectively, in 2014-2016. Among them, the operating rate of polyester bottle tablets remained relatively high, mainly due to the relatively small impact of economic fluctuations on the fast-moving consumer goods industry using polyester packaging, providing a stable downstream market base for polyester bottle flakes. Compared with this, due to the sluggish textile and garment industry, the operating rates of polyester chips, polyester staple fibers and polyester filaments are seriously insufficient. Among them, the operating rate of polyester chips is the worst and the market share of slice spinning is shrinking.
In the next three years, China's polyester capacity growth rate is expected to be around 5.0%-6.0%. From the perspective of the investment structure of the product, the capacity expansion of non-fibrous polyester capacity is greater than that of fiber polyester. Among them, the supporting filament and staple fiber production capacity accounts for 35.0%-40.0% of the total polyester production capacity, while the supporting bottle and diaphragm production capacity accounts for 60.0%-65.0% of the total polyester production capacity. It is estimated that by the end of 2020, China's polyester production capacity will reach about 50.0 million tons.

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