China’s Polyester Industry Chain Integration Deepening
In the future, the integration of polyester industrial chain will be further deepened, and the value of industrial chain will also be transmitted from PX to downstream PTA and polyester enterprises.
The new enterprises in the future will be almost the ones with the integration of upstream and downstream business, which account for more than 60% of the total enterprise capacity. For example, Sinopec, Hengli petrochemical and Hengyi Petrochemical will become leading enterprises in various product fields of the polyester industry.
The PX trade flow pattern is facing changes with the development of China's industrial integration. With the production of new PX units in China, China will slowly change from a PX inflow region with huge demand to a self-sufficient region. However, this will take at least five years before China’s self-supply meets its own needs.
After China's PX supply and demand are basically balanced, China's PX supply can also be exported to countries with demand gap when the cost, distance or profit are appropriate, which provides an alternative export place for large international trade enterprises or production enterprises.
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