Current Situation and Development of Resin Manufacturing Industry in China

Chinese resin manufacturers have a very large production scale and consumer market. In 2014,  total production of synthetic resins in the domestic reached 69.507 million tons. Among them, polyethylene is 13.366 million tons, an increase of 13.8% over the same period last year. Polypropylene is 13739,000 tons, an increase of 10.2% over the same period last year. Polyvinyl chloride (PVC) was 16.296 million tons, an increase of 6.5%, and polystyrene (PS) was 2.114 million tons, an increase of 0.5%. ABS output is 2.674 million tons, an increase of 10%. The total output of the five general resins accounted for 69.3% of the total synthetic resins. In 2014, China's synthetic resin industry achieved a major revenue of 852.34 billion yuan, an increase of 6.7% over the previous year, setting a new record for the development of the industry. In 2014,  synthetic resin industry in China achieved a major revenue of 852.34 billion yuan, an increase of 6.7% over the previous year, setting a new record for the development of the industry.
 

Current Situation and Development of Chinese Resin Manufacturers

1. Demand growth of domestic high-end products 

Packaging is the largest market for Chinese resin manufacturers. However, as the center of the world manufacturing industry, the development of high-tech manufacturing industry has increased the demand for high-end machinery and materials, and the demand for high-end resins and plastics has also increased significantly. According to OECD data, China surpassed the United States in 2004 and became the world's largest exporter of information and communication technology (ICT) products, such as mobile phones, laptops and digital cameras.

2. Intensified competition and further improvement of polyolefin process technology

Chinese resin manufacturers are facing the competition of low-cost products from the Middle East. To cope with the competition, Chinese resin manufacturers are allocating their assets to the Middle East region of low-cost raw materials. China is building world-class large-scale production facilities and making full use of scale benefits. China adopts more advanced catalysts, process technology and advanced computer control, optimization and management schemes. Reorganization and merger are also important options for Chinese resin manufacturers. The aim is to achieve economies of scale and share resources such as public works and logistics services. Although the polyolefin technology has become mature, the mature technology is still further improved, and new products are constantly produced.