Due to its excellent performance, modified plastic products are widely used in home appliances, automobiles, and construction industries. Among them, home appliances and automobiles are the two largest application areas. In recent years, the rise of new energy vehicles has made the requirements for lightweighting of automobiles more prominent. The demand for modified plastics has increased substantially.
Lightweight car boosts demand for modified plastics
According to statistics from Transparency Market Research, the global demand for modified plastics in 2012 was 125 million tons, and it is expected to increase to 170 million tons in 2019. The compound annual growth rate will reach 4.5%. According to data released by China Industry Information Network, China modified The output of plastics increased from 5.7 million tons in 2009 to more than 10 million tons in 2016. The rate of modification increased from 8% in 2004 to 19% in 2016.
Household Appliances is the largest area of application of modified plastics, accounting for 44% of the total consumption of modified plastics. The total domestic demand has exceeded 4 million tons/year, but the output of refrigerators, washing machines, air conditioners, and televisions has declined. In recent years, the growth rate of demand for modified plastics in this area has slowed to less than 5%. Affected by the demand for lightweight vehicles, the automotive industry has become the fastest growing area for demand for modified plastics. According to Markets and Markets estimates, global The consumption of plastics is expected to increase from 7.1 million tons in 2012 to 11.3 million tons in 2018, with a compound growth rate of 13.4%.
In addition, the growth rate of domestic automobile production has been much higher than the global level in the past many years, and the amount of plastics for bicycles is much lower than that of developed countries such as Europe and the United States. There is huge room for development. In particular, the rapid development of new energy vehicles requires more support from lightweight materials. Chemical Consulting expects that the compound growth rate of domestic automotive modified plastics demand will exceed 26% in the next five years.
The domestic modified plastics industry started relatively late. Compared with the international chemical giants, there are no advantages in technology, scale, and industrial chain. At present, although there are thousands of companies in China engaged in the production of modified plastics, large-scale enterprises (capacity more than 3,000 tons There are only more than 70 companies. Although the total production capacity exceeds 2 million tons, high-end modified plastics still need to be imported, showing a structural oversupply situation. From the perspective of market share, the domestic market share of enterprises is only 30%, far below. Foreign companies. The market share of the domestic market for modified plastics of blonde hair technology ranks in the forefront of the domestic market. In the first half of 2017, the sales volume of modified automotive plastics reached 236,000 tons, a year-on-year increase of 24%. The sales volume of home appliance modified plastics also achieved steady growth. Special automotive modified plastic products have been widely used in BMW, Mercedes-Benz, GM, Ford, SAIC Volkswagen, SAIC, SAIC, Great Wall Motor, Geely Automobile, Changan Automobile, BYD, and other car models. In addition, Domestic listed companies also have Jubilee Technology and Guoen shares engaged in modified plastics business.