Latest plastic production report from January to August: PA demand surges, ABS production significantly decreases
According to the National Bureau of Statistics, the production of primary plastics in August was 10.758 million tons, an increase of 0.5%. During the January-August period, cumulative production reached 86.267 million tons, up 4.5 percent year on year. In terms of varieties, the yield of polyamide (PA) increased significantly, reaching 25.9%. The production of ABS fell by 10.5%
From January to August, domestic PE (polyethylene) production reached 18.34 million tons, an increase of 0.8% compared to the same period last year. This increase shows the steady development of the polyethylene industry during this period. As a material widely used in packaging materials, agricultural film, wire and cable and other fields, the growth of its output also reflects the stability and growth of demand in related industries.
From January to August, domestic polypropylene (PP) production reached 22.535 million tons, an increase of 8.3%. This growth reflects the positive performance of the polypropylene industry in terms of market demand and increased production capacity. Polypropylene is widely used in many fields, including food packaging, automotive and construction, showing its important position in the plastics industry.
From January to August 2024, PVC production was 15.479 million tons, an increase of 4.3% over the same period last year.
From January to August, domestic polystyrene (PS) production was 2.79 million tons, an increase of 4.5% year-on-year. This increase shows that the demand for polystyrene in the plastics industry is gradually increasing. Because of its excellent physical properties, such as high strength, impact resistance and good thermal stability, polystyrene has been widely used in many fields such as packaging materials, household appliances and auto parts.
From January to August, China's ABS (acrylonitrile-butadiene-styrene copolymer) production was 3.48 million tons, down 10.5% compared with the same period last year. This downward trend may be related to a variety of factors, including changes in market demand, excess capacity, fluctuations in raw material costs, and adjustments in the competitive landscape of the industry.
From the perspective of market supply and demand, although ABS resin has a wide range of applications in household appliances, electronic products, automobiles, construction and other fields due to its excellent physical properties and ease of processing, the market size of ABS resin in China has shown a fluctuating trend in recent years. In 2022, China's ABS resin market size is about 76.297 billion yuan, down 24.87% year-on-year. At the same time, due to the increase in production capacity, the contradiction between supply and demand in the market may continue to affect the entire industry chain, resulting in the weakening of ABS market prices.
From January to August, China's polycarbonate (PC) production reached 1.72 million tons, up 2.4 percent from the same period last year. This growth demonstrates the steady development of polycarbonate in the Chinese market. Due to its excellent transparency, impact resistance and temperature resistance, polycarbonate is widely used in automotive parts, building materials, electronic appliances and medical devices. While the global market may be challenged by oversupply in some sectors, China's PC production growth shows that demand for this material remains strong in the domestic market. In addition, the domestic dependence on PC imports is gradually decreasing, and the competitiveness and market share of domestic PC materials are expected to be further improved.
From January to August, the production of polyamide (PA) was 4.52 million tons, an increase of 25.9% year-on-year. Among them, the production of PA6 was 4.05 million tons, an increase of 26.6% over the same period last year; PA66 production was 470,000 tons, an increase of 20.5%. At the same time, the production of polyformaldehyde (POM) was 330,000 tons, an increase of 6.5%.
