Affected by the weak demand in the downstream textile and apparel industry, the polyester filament industry was in a difficult situation in the past year. On the evening of the 11th, industry leader Tongkun shares announced a fixed increase of 2 billion yuan, of which 600 million yuan will be used for surfactants and special textile additives. The relevant person in charge of the company said that these two types of products are auxiliary materials, and by virtue of their advantages in formulas and other aspects, self-produced auxiliary materials will have obvious cost advantages.

Tongkun said that the fixed increase project will help ensure the quality of the company's chemical fiber products and the smooth release of chemical fiber production capacity. As of the first half of 2020, the company has an annual production capacity of 4.2 million tons of PTA, a polymerization capacity of 6.4 million tons per year, and a polyester filament production capacity of 6.9 million tons per year. The production and sales volume ranks first in the country, and the domestic filament market share is about 18 %, the polyester filament business brings 85% of operating income to the company.

Although the company's current production capacity of 6.9 million tons/year of polyester filament yarn is the country's leading, after Tongkun shares, Hengyi Petrochemical and Xinfengming will also release new production capacity in 2021. In other words, the cost advantage brought by production capacity will be reduced , Competition on the cost side is still very fierce.

In recent years, in order to enhance business stability and obtain cost advantages, leading polyester filament yarn companies have expanded their polyester filament yarn production capacity and extended the industrial chain upstream. After the initial layout of the upstream raw material end, Tongkun shares have set their sights on auxiliary materials and intends to borrow This further promotes cost reduction.

Another polyester leader Hengli Petrochemical has been vigorously developing new materials in recent years, aiming to further enhance the industry's competitiveness and product added value. On December 25, 2020, Yingkou Kanghui Petrochemical Co., Ltd., a subsidiary of Hengli Petrochemical Company, successfully started the new material project with an annual output of 33,000 tons of PBS biodegradable polyester, successfully put into production and produced qualified products. Hengli Petrochemical is committed to The holding subsidiary Kanghui Petrochemical will make every effort to build an industry-leading new material production base. Kanghui Petrochemical began to cooperate with Dalian University of Technology as early as August 2019 to independently develop the production formula of "PBS-type biodegradable polyester new material". In early 2020, it invested in the construction of an annual output of 33,000 tons of PBS-type biodegradable polyester. Material items. It is understood that with the continuous advancement of environmental protection policies, the increasing public awareness of environmental protection, technological advancement and cost reduction, PBAT materials have a broad market space. The continued layout of Hengli's new materials business will help the company further enhance its industry competitiveness, extend the industrial value chain and increase the added value of products.

Mainstream polyester polyester factories reduce costs and increase efficiency, and continue to extend downstream

While mainstream polyester factories continue to develop in the middle and upper reaches, they are also slowly expanding to the downstream and end markets.

Among the three specifications of polyester filament products, DTY has always had the best profit. Many melt direct-spun polyester filament factories are also actively entering the texturing field, and the texturing equipment for the six major polyester filament factories is in total. Around 2,100 units, in addition to large-scale production, the raw material POY is self-produced, and the cost control ability is strong, so the market has a strong voice in pricing.

However, in the past two years, the number of texturing machines in polyester filament factories in Fujian has grown rapidly, while the number of chemical fiber factories with more than 200 units in Xiaoshao and other regions is also increasing. With the increasing demand for functional fabrics, the future In the field of texturing, there is not only a large-scale growth, but also a breakthrough in the field of functional and differentiated fibers.

The downstream factories of polyester filament POY are texturing factories, and the downstream factories of polyester filament FDY and DTY are weaving factories.

Hengli has been deeply involved in the weaving field for many years. It has more than 10,000 water jet looms, more than 30,000 textile equipment, and a production capacity of more than 3 billion meters per year. It is one of the largest textile production bases in the world. In November last year, Hengli Group successively held a signing ceremony with the Gui'an New District Management Committee and Rifa Textile Machinery. The former was for the investment in the construction of the (Gui'an New District) Intelligent New Material Industrial Park project, and the latter was for a total of more than 10,000 purchases. Taiwan high-end chemical fiber two-for-one twisting machine and high-speed intelligent water jet loom.

In December last year, Tongkun Group also signed an investment agreement with the Shuyang Economic and Technological Development Zone Management Committee, which involved 10,000 looms.

In the field of weaving, water jet looms with a scale of more than 1,000 can be regarded as large factories, and water jet looms with a scale of 200 or more are standardized factories. However, the traditional gathering place of water jet looms in Wujiang, the general loom The number is around 240,000 units, which shows the volume of Hengli and Tongkun extending longitudinally to the weaving field.

They mainly produce high-end textile fabrics. With their own advantages in the field of functional fibers, they may be able to better promote the upgrading of my country's textile and apparel industry in the future. With the gradual increase in the concentration of downstream weaving capacity, the trading model of shipments from weaving factories may improve in the future. On the whole, with the advantages of industrial integration, leading polyester companies will greatly increase their anti-risk capabilities, profitability, and capital reserve capabilities.

With the continuous improvement of the industrial chain layout of "PX-PTA-polyester-spinning-texturing-weaving" by mainstream polyester factories, under the background of industrial chain integration, leading polyester companies do not have to bet A single link can avoid huge losses due to a decline in the prosperity of a link, and can be allocated according to the changes in the profit rate of each link, so as to better enhance the industry influence.