China’s high-performance resin market has a large gap between supply and demand and is highly dependent on imports

High-performance resins include polyamide engineering plastics (PA), polycarbonate (PC), polyphenylene ether (PPO), ethylene-vinyl acetate copolymer (EVA), polytetrafluoroethylene, fiber plastics, super absorbent resins, special Many products such as epoxy resin have a wide range of downstream applications, covering many industries such as automobiles, aerospace, rail transit, electronic appliances, and photovoltaic power generation. Compared with ordinary synthetic resins, high-performance resins have better physical and chemical properties and meet the requirements for high-quality development in industries such as automobiles, aerospace, rail transit, and photovoltaic power generation.

In recent years, under the background of the country’s vigorous development of aerospace technology, advanced manufacturing technology, new energy and electronic information technology, high-end chemical new materials have achieved rapid development, market demand has continued to grow, and the industry has shown high prosperity. As the largest market segment for new chemical materials, the downstream demand for high-performance resins in China has increased, and the demand has also shown a trend of increasing year by year. However, due to technical limitations, the output of China’s high-performance resin industry is difficult to keep up with demand. The market self-sufficiency rate is insufficient and it needs to rely on imports.

According to the“China High-Performance Resin Industry Market Monitoring and Future Development Prospects Research Report 2022-2026” released by the Industrial Research Center, In 2019, the demand of China’s high-performance resin industry was 22.37 million tons; in 2021, the demand of China’s high-performance resin industry was 27.33 million tons, and the output was 16.42 million tons. There is a large supply and demand gap. In the future, the development opportunities for my country’s high-performance resin industry will mainly lie in the support of national policies and the demand for import substitution.

On the one hand, high-performance resin, as a polymer material product, is an industry strongly encouraged by the state, local and industry associations, such as the “New Materials Industry Development Guide”, “New Materials Key Technology Industrialization Implementation Plan”, “14th Five-Year Plan” The launch of a series of national policies such as the “Industrial Green Development Plan” and the “Opinions on High-quality Development of the Petrochemical and Chemical Industry during the 14th Five-Year Plan” have provided good policy guidance and institutional guarantees for the vigorous development of the high-performance resin industry, and provided opportunities for existing enterprises and Potential entrants have provided strong policy support, which has had a positive impact on the company’s sustainable and stable operations.

On the other hand, my country’s current demand gap for high-performance resins is still relatively large, and its dependence on imports is high. As the downstream application fields of high-performance resins in my country continue to expand, domestic high-performance resin-related companies are actively planning to expand production capacity in order to further improve the current situation of high-performance resin demand being dependent on imports. In addition, due to the important applications of high-performance resins in aerospace, automobiles, medical, rail transit, photovoltaic power generation and other fields, along with the uncertainty and risk of international trade disputes, import substitution has become an important national strategy, which will in turn have an impact on high-performance resin products. Bring better market opportunities.