Looking at the changes in polyester market supply in 2021 through numbers

Introduction: In 2021, the self-control ability of China's polyester industry will be further enhanced, and China's polyester production capacity and output will increase steadily, but the year-on-year growth rate will decline compared with the previous period. Return to a reasonable range at the end of the year.
The year-on-year increase in production capacity and output both declined



In 2021, China's polyester production capacity and output will grow steadily, but the year-on-year growth rate will both decline. The newly added polyester production capacity was 4.49 million tons, and the capacity base was removed from the short-term difficult to restart production capacity of 1.77 million tons. The polyester production capacity reached 66.9 million tons, a year-on-year increase of 4.23%, a decrease of 4.28 percentage points from 2020. The output of polyester was 57.49 million tons, a year-on-year increase of 7.48%, a decrease of 0.02 percentage points from 2020.



In 2021, the distribution of new polyester production capacity in China will show a trend of high and then low on a quarterly basis. The second quarter is the high point of the number of new production capacity in the whole year, around 2.25 million tons; the third quarter is the low number of new production capacity in the whole year. point, around 520,000 tons. In 2021, the new production capacity of polyester will be 4.49 million tons, a decrease of 615,000 tons from 2020 and an increase of 650,000 tons from 2019. Among them, the new production capacity of polyester filament was 2.87 million tons, accounting for 63.92% of the new production capacity this year.



In 2021, the average monthly operating rate of polyester in China will be high and low. April is the high point of the annual operating rate, around 92%; October is the low point of the annual operating rate, around 80%. In 2021, the average daily operating rate of polyester will be 85.43%, an increase of 2.89 percentage points from 2020 and a decrease of 1.61 percentage points from 2019.



In 2021, the end-of-month inventory of polyester factories in China will first rise and then decrease. March is the high point of the year-end inventory at the end of the year, around 2,590,500 tons; February is the low point of the year-end inventory at the end of the year, around 1,044,400 tons. In 2021, the polyester factory inventory at the end of the year will be 2,224,700 tons, an increase of 3,800 tons compared with the polyester factory inventory at the end of 2020.

On the whole, the supply of China's polyester market in 2021 is in the post-epidemic recovery stage. In the first half of the year, the cost-driven increase and the downstream procurement of raw materials in advance accelerated the release of new polyester production capacity in China. The operating rate of polyester factories increased steadily, polyester production continued to rise, and the polyester market supply increased significantly. With the increasing inventory pressure in the polyester industry, polyester factories on the one hand actively reduce prices and promote sales to stimulate shipments, on the other hand, take the initiative to reduce loads to adjust production, superimposing that the upstream and downstream factories of the polyester industry chain will carry out staggered production in an orderly manner in the fourth quarter, and the end of 2021. In half a year, the inventory of polyester industry gradually returned to a reasonable level.