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[Polyester Session]Polyester industrial development tendency analysis in China
!!Zhao Donghua, GM, Zhejiang Hengyi Petrochemicals Co., Ltd

2019-03-21 15:24:59
Zhao Donghua, GM, Zhejiang Hengyi Petrochemicals Co., Ltd, delivers his report of Polyester industrial development tendency analysis in China 

Firstly, Mr. Zhao introduced basic situation of Hengyi Petrochemical and elaborated the project under construction in Brunei, with increment of crude oil processing, PX capacity and ethylene capacity respectively at 14 million tons/yr, 2 million tons/yr and 1.5 million tons/yr. The project is now working smoothly. 

Secondly, Mr. Zhao analyzed supply & demand and forecasted the industry. The annual supply growth of 2019-2020 is anticipated at 3 million tons/yr and PFY demand is around 2 million tons per annual. Direct-spun PFY is hard to maintain processing spread in 2019 due to supply and demand mismatch. More POY capacities will come on stream and processing spread is expected to be reduced. DTY is not expected to be pessimistic. 

Finally, Mr. Zhao gave the conclusion with two words: 1. Concentration, including company, capacity and facility (more improvement of industry chain with consumption markets in Jiangsu, Zhejiang, Fujian and Guangdong); 2. Enablement, including product enablement like faster development of new products and shorter cycle, R&D enablement like development of functional fiber and service enablement like logistics and supply chain finance, etc. 
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