Overcapacity weighed on the market
With the increasing production capacity in recent years , the industry is in excess of maleic anhydride state . Data show that in 2013 , with Qi Xiang Tenda Chemical 100,000 tons and an annual output of 80,000 tons Jiangshan Chemical plant put into operation , such as maleic anhydride , maleic anhydride domestic production capacity reached 1.729 million tons , 1.409 million tons in 2012 compared with an increase of 32 tons, but production increased by 740,000 tons compared to 2012 only 03,000 tons , venting capacity has reached more than half of the excess capacity rate of 130%.
"At present , the production of maleic anhydride market overcapacity embodied in the excessive growth of production capacity , while the domestic economy is currently weak overall market demand is difficult to boost prices continued lower , longer inventory cycle . Plant also will reduce profit margins , products adjust space narrowing . Maleic Anhydride industry as a whole, the current operating rate of less than 50% , partly due to the relatively small device has been overwhelmed parking is expected in 2014 with production capacity of about 500,000 tons of maleic anhydride , overcapacity will further intensified . " Zhang said , the next two to three years , with the increasing prices of maleic anhydride production capacity will gradually decrease.
Law n-butane hit the market
At present, China maleic anhydride synthesis route in two ways: the traditional method of benzene and n-butane oxidation method. Since last year , China's new device maleic anhydride industry are concentrated in the n-butane law , and this synthesis are menacing to dominate the market , there is a growing trend in the leading markets.
"Domestic benzene prices, the traditional method of maleic anhydride cost pressures continue to increase , profitability was severely affected. Contrast, had a relatively small market share in n-butane to maleic anhydride method increasingly prominent advantages , lower raw material costs than the traditional route more than 1,500 yuan , terephthalic law maleic anhydride unit have a huge impact . " Zhu northeast Sales Director of China National Petroleum Company said.
Two materials from the market outlook , the current worldwide supply sufficient liquefied gas , liquefied petroleum gas is transferred from the use of deep-processing component to use paraffin olefin components downstream by-product is of high purity n-butane. Therefore , supporting the use of n-butane to maleic anhydride unit building has great advantages in resources, n-butane prices rose sharply in a short time is impossible .Sellotape
In contrast, much of benzene from the refinery 's ethylene cracker and other devices, the current international trend of lightweight materials ethylene cracking heavier , benzene supply is bound to decrease , prices will continue to rise, the price will follow the pure benzene hydrogenation benzene continue upward, benzene feedstock prices overall will remain high for long . Thus , n-butane oxidation method maleic anhydride and maleic anhydride benzene will also maintain a large spread of long-term trend .
" Affected by the traditional method of n-butane to maleic anhydride method product price pressure, is difficult to have a big improvement . 2014 program focused on investment and construction method of n-butane device , the traditional approach would be a severe test , part of the scale small and supreme downstream benzene oxidation to maleic anhydride business , is likely to exit the market . " Zhu said the Commissioner .Washi tape
Market demand is not clamped
Downstream as maleic anhydride , unsaturated resin market activity in general, in the end demand downturn , manufacturers have cut prices to boost sales , take the goods as a whole slightly better than the previous . More expensive raw materials inventory resin manufacturers ( such as Tianjin superstar , etc. ) , without making the price adjustment process continues very price -dimensional city , take the goods unusually slow .
" North China due to the cold weather affect downstream manufacturers of fiberglass delay start , the situation is not optimistic resin manufacturers started to digest pre-inventory -based. Unsaturated resin demand a substantial increase in the short term is difficult , recent market expected to remain weak . " Zhang said.Masking tape
Another downstream BDO (1,4 - butanediol ) overall poor demand , then set the intention is not high , the market traded in a small single-oriented . BDO unit restarted two days, driving, Meizhou Bay in the 18th BDO device replacement catalyst parking , Shaanxi BDO means of two push to end shipments. Downstream pulp industry return to work slowly. When the weather gets warmer, the downstream industry demand will significantly increase, or for the market to inject a little positive.
In summary, for the moment, maleic anhydride market will repeat the 2013 downturn, the loss mistakes , the market price is difficult to have eye-catching performance. But given the cost of support , or will not be much to a narrow range consolidation.Wholesale masking tape
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