Recently, relevant experts stated that after more than 40 years of development, China has become a big country in the polymer materials industry, with production and consumption ranking first in the world. However, due to the excess production capacity at the low end, the three major synthetic materials industries that were originally profitable showed a loss. According to experts from the Beijing Chemical Industry Research Institute, after years of rapid development, the output of China's three major synthetic materials increased from 1.42 million tons in 1981 to 88.3 million tons in 2013. In 2014, the country’s consumption of synthetic resin reached more than 87 million tons, and the apparent consumption of plastics reached more than 93 million tons. At present, the three major synthetic materials are all in excess capacity in China. Synthetic rubber, which was originally in short supply, has always been a profitable industry. However, in recent years, the rapid growth in production capacity has led to an oversupply of the entire industry, the rapid decline in its prices, and a loss-making situation in the entire industry. Relevant data show that in 2013, China's synthetic rubber production capacity reached 5.09 million tons, the industry-wide operating rate was only 60%; import volume reached 1.55 million tons, mainly high-end products. In 2014, the country’s synthetic rubber production capacity reached 5.18 million tons, the operating rate was only 57%, and the import volume was 1.485 million tons. Experts said that the overcapacity of domestic synthetic fibers has caused losses in related industries for many years, and it is difficult to change the situation in a short period of time. The surplus of synthetic resin is not as serious as the other two, but the outlook is not optimistic. According to the analysis, domestic overcapacity products are basically ordinary “highway goods†or low-end products. High-end products with real technical content mainly rely on imports. For example, in 2014, the national engineering plastics consumption reached more than 3 million tons, of which 2/3 depends on imports. According to the plan of “Made in China 2025â€, the polymer materials industry will play an important role in the strategy of building a strong country.
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Synthetic rubber excess capacity