Core data of this paper: Glacial Acetic Acid production capacity, glacial Acetic Acid output, glacial acetic ACID apparent consumption, glacial acetic acid downstream industry distribution
PTA, vinyl acetate and ethyl acetate are the main consumer goods
Glacial acetic acid is also called acetic acid and glacial acetic acid. It is a colorless transparent liquid with pungent smell. The upstream raw materials of glacial acetic acid include butyric acid, methanol, natural gas, oxygen, ethanol, acetaldehyde, ethylene, etc.
Glacial acetic acid is mainly used to prepare vinyl acetate, acetate fiber, acetic anhydride, metal acetate and halogenated acetic acid in industry. It can also be used as an important raw material for pharmaceutical, pesticide and other organic synthesis. It can also be used as analytical reagent, solvent and leaching agent. According to the statistics of Zhuo Chuang, the downstream consumer goods of glacial acetic acid in 2020 are mainly PTA, vinyl acetate and ethyl acetate, accounting for 64.35% in total. PTA is the most consumed downstream commodity, accounting for 27.7%.
Capacity and output continued to grow
From 2015 to 2020, China's glacial acetic acid production capacity continued to grow. By 2020, the capacity of glacial acetic acid has reached 9.66 million tons. Accordingly, the output of glacial acetic acid in China is also increasing year by year. In 2019, the output of glacial acetic acid in China reached 7.439 million tons, an increase of 7.59% over 2018. In 2020, the output of glacial acetic acid in China was affected by factors such as Xinguan epidemic, and the growth rate decreased. In 2020, the output of glacial acetic acid in China was 7.753 million tons, with a year-on-year increase of 2.62%.
The fluctuation of apparent consumption increased
From 2015 to 2019, China's apparent consumption of glacial acetic acid basically showed a fluctuating growth trend. In 2019, China's apparent consumption of glacial acetic acid reached 6.8 million tons, an increase of 8.63% over 2018; In 2020, the import volume of glacial acetic acid was 51700 tons, and the apparent consumption of glacial acetic acid in China reached 7.65 million tons.
Cr5 of glacial acetic acid industry in China exceeds 50%
Glacial acetic acid is one of the industries with high barriers and has certain requirements for technology, capital and upstream and downstream supporting facilities. For example, the investment in acetic acid production equipment is large and the construction cycle is long. The investment required for 500000 tons of production capacity is about 3 billion. It takes 2-3 years to completely build new production capacity, so the domestic production capacity is relatively concentrated, Among them, the total capacity of the top five acetic acid manufacturers accounts for more than half of the total domestic capacity.
On the whole, the market supply and demand of China's glacial acetic acid industry is relatively balanced, the market competition presents a duopoly model, and the overall market development is relatively stable.
