2021 is coming to an end, review the annual BOPET market changes greatly, such as new production line supply increase, sudden factors, supply and demand mismatch mitigation price drop and profit compression, enterprise orders are less than 20 days but most of 2020, inventory level is still low, etc. This Zhuochuang information will show the data of BOPET market fundamentals in 2021.
According to the statistics of Zhuochuang Information, the total production capacity of BOPET market is expected to BOPET in 2021 is expected to reach 4.487 million tons, and the new production capacity is 1 million tons. The specific production situation is detailed in 2021-2022 China BOPET Market Annual Report.In 2021, the BOPET market delayed production lines in the early stage, and it is expected that the annual capacity growth rate will be 28.68%, 19.27 percentage points higher from 2020.
In 2021, the width of the new production line in the BOPET market was expanded to more than 10 meters, which is a major progress in the width of the industry, and its single daily output almost doubled from the original production line.2021 China BOPET new capacity statistics are attached to 2021 China BOPET new capacity statistics in 2021
More sudden factors than the BOPET start load rate declined in 2021
The annual starting load rate of China’s BOPET market is at a five-year high in 2020, and is expected to decline by 8.05 percentage points to 70.97% in 2021. However, its production continues to increase due to production lines throughout the whole year.
In 2021, BOPET starting load rate increased, mostly around 80%. In May, due to unexpected shutdown of Zhejiang Yongsheng and enterprises in Guangdong, the starting load rate fell to 72.67% below 70% due to northeast, Jiangsu, Zhejiang, Guangdong, improved in November, the industry starting load rate rose to near 77%, but the starting load rate is expected to decline again due to unexpected shutdown of a plant in Jiangsu.
Supply and demand mismatch to alleviate BOPET prices fell high, profits were compressed
In 2021, the price of China’s BOPET market fluctuated sharply, but it was at the middle level of the historical five years (2016-2020). The annual price low is 9,810 yuan / ton, and the high is 13,510 yuan / ton, and the fluctuation range is still large.As of December 16, the average price of 12 straight melt ordinary film in East China was 11,287 yuan / ton, up 6.70% compared with the average annual price of 10,5780 yuan / ton, and the center of gravity shifted up compared with 2020.Factors affecting the price trend of China’s BOPET in 2021 include: new production landing, weak demand, eased supply and demand mismatch, heavy downstream bearish mentality, tight short-term spot situation, OK orders, expanded raw material increase and other factors.
In 2021, China’s BOPET market profit has been compressed, but it is at the middle level of five years (2016-2020). The annual profit low is 1933 yuan / ton, and the high is 6464 yuan / ton, and the fluctuation range is still large.As of December 16, the average profit of 12 straight melt ordinary film in East China was 3,283 yuan / ton, down 17.88% from the average annual profit of 2020, and the center of gravity decreased compared with 2020.The main factors affecting the profit changes in 2021 include: high film prices fall, low level of raw materials rise, increased supply, weak demand, etc.
BOPET inventory is low and orders remain above 20 days. The 2021 BOPET market finished product inventory is at a historically low level, most time at 2-4 days, an average of 2.65 days, below the historical average of 4.48 days.The low inventory of the finished products in 2021 is first because the market continued the supply and demand mismatch phenomenon in 2020 at the beginning of the year, and then the orders of the production enterprises are mostly maintained at 20-50 days within the year. However, the device accident shutdown, planned maintenance and load reduction production phenomenon affected by force majeure, and the spot supply in the short-term market is tight.
In addition to the above fundamental changes in the market of BOPET, its import and export have also changed significantly compared with previous years.In terms of demand, the backplane demand policy support continues to improve, and the optical field, its demand increases steadily with the development of electronic products.However, in the next five years, the BOPET market still has more than 4 million tons of production capacity, which is expected to be put on the market. With the entry of new production capacity, the contradiction between supply and demand in the market will increase, and the fundamental data will also change.
Post time: Dec-21-2021