China will more than double polycarbonate capacity to 2022, says GlobalData

Tue, Nov 20, 2018 | By publisher


Oil & Gas

China’s polycarbonate plant capacity is set to grow at a compound annual growth rate, CAGR, of 19.8% from 0.870 million tons per annum (mtpa) in 2017 to 2.150 mtpa in 2022, according to GlobalData, a leading data and analytics company.

The company’s report: ‘Polycarbonate Industry Outlook in China to 2022 – Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants’ revealed that Electrical and Electronics, Construction, Automotive, Optical Applications, Packaging and Medical are the primary sectors that are behind the impressive growth of polycarbonate industry. In 2017, these sectors together accounted for 75.1% of the polycarbonate demand in the country.

Dayanand Kharade, Petrochemicals analyst at GlobalData, explained: “China is set to more than double the thermoplastic engineering material capacity by 2022 in order to cater to the burgeoning domestic demand due to rapid urbanization and industrialization, and reduce dependency on imports.”

Bayer Material Science Polycarbonate Technology is the dominant technology used for polycarbonate production in China and it accounted for 46% of the total installed polycarbonate capacity in 2017.

The largest polycarbonate plants in China in 2017 were ‘Covestro Caojing Polycarbonate Plant 1’, ‘Covestro Caojing Polycarbonate Plant 2’, ‘Teijin Polycarbonate China Jiaxing Polycarbonate Plant’, ‘Ningbo Oceanking Chemical Development Company Ningbo Polycarbonate plant’ and ‘Ling You Engineering-Plastics Shanghai Polycarbonate Plant’.

The major companies in the country are Bayer AG, Lihuayi Group Co., Ltd., Mitsubishi Gas Chemical Co Inc, Ningbo Oceanking Chemical Development Co., Ltd. and Teijin Ltd. In 2017, together these companies accounted for 89.9% of the polycarbonate capacity in China.

Average price of polycarbonate in China is expected to increase at a CAGR of 1.2% from $3013.0/ton in 2017 to $3195.7/ton in 2022.

Between 2008 and 2017, China was a net importer of polycarbonate. During the period, China’s imports as percentage of demand decreased from 105.2% in 2008 to 77% in 2017. GlobalData forecasts imports as percentage of demand to further decrease to 54% in 2022.

Kharade concludes: “Despite the decline, the Chinese market will continue to be heavily reliant on imports until 2022 owing to increased demand from various sectors in the country.”

– Nov. 20, 2018 @ 17:47 GMT |

Tags:


NNPC, Dangote Refinery Slash Petrol Prices to N899 Per Litre Amid Rising Competition

NNPC has reduced petrol ex-depot price to N899 per litre, sparking competition with Dangote Refinery and benefiting Nigerian consumers. The...

Read More
Fuel to sell at N935 per litre from Monday -IPMAN

THE Independent Petroleum Marketers Association of Nigeria (IPMAN), says the price of petrol will drop to N935 per litre by...

Read More
NNPCL refutes allegation of shut down of Port Harcourt refinery

By Victoria Frances NIGERIAN National Petroleum Company Limited, NNPCL, has refuted reports that the Port Harcourt Refinery has been short...

Read More