Recently, the “big players” in the polyester market have once again released signals of active expansion, attracting the attention of the chemical fiber industry and the capital market.
Following the start of the 2.7 million tons polyester production capacity project of Xinfengming Jiangsu Xinyi Industrial Base last month, Tongkun Group Co., Ltd. issued an announcement on the evening of June 22 stating that the company Signed an investment agreement with the Guleigang Economic Development Zone in Zhangzhou, Fujian to produce 2 million tons of polyester fiber per year, with a total investment of 15 billion yuan.
The investment project plans to invest in a new polyester fiber with an annual output of 2 million tons in Guleigang Economic Development Zone, Zhangzhou, Fujian Province , 500 texturing machines and 2,000 loom projects, the company will establish a new joint venture with Fuhua Gulei in the Gulei Port Economic Development Zone, Zhangzhou, Fujian Province to promote the implementation of the new project. The total land area of the project is approximately 1,800 acres. Land supply in installments. Among them, the land for the first phase project is about 1,000 acres; the land for the second phase project is located in the area surrounding the first phase project, covering an area of about 800 acres.
Tongkun, a textile and apparel industry with a scale of 1.4 trillion yuan, has planted the flag of expansion in Fujian!
Although excellent companies are different in their own way, some of their characteristics are often similar. These characteristics usually include being able to quickly make sensitive and accurate judgments on the policy dividends that relevant macro policies can bring, being able to accurately grasp the investment hot spots in the industry in which the company is located in the next 5 or even 10 years, and being bold and determined. , seize the opportunity to quickly turn ideas into reality.
At present, these characteristics are becoming more and more obvious among the big players in the domestic petrochemical polyester market, which has also caused some worthwhile changes in the investment trend in the industry. Pay attention to changes. Under the upsurge of industrial integration development, the geographical advantages and demand capabilities of downstream textile clusters are crucial.
After Jiangsu and Northern Jiangsu, large chemical fiber companies began to plant their expansion flags in Fujian. According to the announcement, the modern textile and garment industry is one of the four leading manufacturing industries in Fujian Province and has cultivated many well-known clothing brands, such as Septwolves, Jiumuwang, Qipai, Fuguiniao, etc. According to the “14th Five-Year Plan” of Fujian Province, it is necessary to build a strong province in advanced manufacturing and promote leading manufacturing industries such as electronic information, advanced equipment manufacturing, petrochemicals, and modern textiles and clothing. Optimize and upgrade, expand capacity and improve quality; it is necessary to promote the high value-added development of modern textile and clothing brands, and expand and strengthen the upstream fiber raw material industry; it is necessary to promote the transformation and upgrading of key links in mid-end weaving, dyeing and finishing, expand and improve the supply and application of terminal high-end textiles, and by 2025 In 2016, the scale of the modern textile and apparel industry reached RMB 1.4 trillion. However, the scale of the upstream clothing market in Fujian is currently not large, and fiber raw materials and fabrics are mostly purchased from Jiangsu and Zhejiang, leaving a large gap.
Tongkun shares believe that the products of the polyester fiber investment project with an annual output of 2 million tons have functional properties such as environmental protection, antibacterial, antistatic, moisture absorption and perspiration, and have high added value. On the one hand, the implementation of the project will help meet the needs of downstream textile and garment enterprises for differentiated and functional fiber raw materials, and promote the transformation and upgrading of the province’s textile industry. After the completion of the project, it will enhance the competitiveness of Gulei Economic Development Zone’s new materials industry and build a first-class chemical fiber manufacturing base. In addition, the surrounding areas where the project is implemented, such as Zhangzhou, Quanzhou Jinjiang, and Fuzhou Changle, have a large demand for chemical fiber raw materials. At the same time, they can be radiated to the Guangdong market. It has a location advantage for the project, with guaranteed product sales and broad development prospects. The implementation of the project will help the company achieve industrial chain integration, enhance scale and cost advantages, improve industrial spatial layout, and enhance corporate competitiveness.
Industry insiders believe that as the global epidemic is gradually brought under control, the overall refining and chemical-polyester industry chain is expected to continue to pick up, taking into account the location and supporting facilities of the Zhejiang Petrochemical Project Integration Project The excess income brought by the advantages, coupled with the company’s Yangkou Port PTA-polyester and Muyang project layout, Tongkun shares have strong room for profit growth and are expected to exceed the industry growth rate.
The regional distribution of the polyester industry is concentrated in Zhejiang, Jiangsu and Fujian
The editor noticed that in December last year, Tongkun also signed an investment agreement of 15 billion yuan, and signed an annual production of 2.4 million tons of filament (short fiber) with the Jiangsu Shuyang Economic and Technological Development Zone Management Committee. ) and other project investment agreements, the corresponding filament production capacity accounted for approximately 32% of the company’s production capacity that year; the polyester fiber project invested this time also accounted for nearly 30% of the company’s production capacity last year.
Considering that this polyester fiber project is far away from the current location of Tongkun Co., Ltd. and the local industrial chain development advantages, Tongkun Co., Ltd. will invest with Fuhua Gulei Implementation of the joint venture established. In addition, the project partner Fuhua Gulei is also relatively strong and can provide support.
According to the annual report, Tongkun Co., Ltd. has a PTA production capacity of 4.2 million tons/year, a polyester polymerization production capacity of approximately 6.9 million tons/year, and a polyester filament production capacity of approximately 7.4 million tons/year. In 2016, it has ranked first in output and sales in the domestic market for 20 consecutive years. The domestic market share of polyester filament yarn is nearly 20%, and the global share exceeds 12%.
From an industrial perspective, domestic polyester filament yarn for civilian use is currently a fully competitive industry. In order to enhance operational stability and gain cost advantages, leading polyester filament yarn companies have shifted their industrial chains to Extending upstream and downstream, starting from crude oil refining,Create a complete industrial chain of “aromatics – PTA – polyester – consumer yarn – weaving – dyeing and finishing”; at the same time, as the demand for polyester filament products develops in the direction of diversification and high quality, seize the opportunity of market demand adjustment and introduce advanced production equipment , Improving production intelligence has also become an important choice for enterprises. In 2020, the national polyester filament output will be approximately 39 million tons. The new production capacity in the industry will basically come from large leading companies. The aggregate production capacity concentration rate of the top six companies in the industry is close to 60%.
Judging from the later production situation, there are still many layouts of leading manufacturers, and Tongkun In Nantong Yangkou, Suqian Shuyang, Xinjiang Alar and other places, Hengyi has certain installations in Xiaoshan, Hangzhou, Suqian High-tech Zone and other places, and Xinfengming has certain equipment production plans in Jiaxing Pinghu, Xuzhou Xinyi and other places. In the later period, the domestic polyester industry The production capacity of leading enterprises will enter the fast lane of production. It is expected that by 2023, the production capacity of the six major domestic polyester factories will account for more than 50% of the domestic level. As the advantages of industrial chain integration become more and more obvious, the regional distribution of the polyester industry is concentrated in Zhejiang Province, Jiangsu Province, and Fujian Province, and it also shows the characteristics of industrial gradient transfer. </p
