With the launch of new and expansion projects in China, the industry insiders predict that China will overtake the United States as the world's largest producer of crude acrylic acid and acrylate by the end of 2012, and become a net exporter from a net importer of acrylic acid. However, the growth of demand cannot keep up with the growth of production capacity. How to digest the new production capacity has attracted attention.
It is understood that Jiangsu Jurong Chemical Co., Ltd. has put into operation a set of crude acrylic acid plant with an annual output of 160000 tons in Taixing this spring, and a similar scale plant will be put into operation in September. In the first half of this year, Jiangsu Sanmu group has put into operation a set of crude acrylic acid plant with an annual output of 60000 tons, and it is expected that another set of butyl acrylate plant with an annual output of 80000 tons will be put into operation in August this year. CNOOC has a crude acrylic unit with an annual output of 160000 tons and an acrylic unit with an annual output of 160000 tons, which will be put into operation in July as planned.
At present, there are many acrylic acid and ester projects planned and under construction in China. Yantai Wanhua company decided to build an annual output of 300000 tons of acrylic acid and supporting acrylic acid project in three phases. The first phase of the project is expected to be completed and put into operation in 2013. In January this year, Yangzi Petrochemical & mdash; BASF company announced that it will build a new set of fine acrylic acid plant with an annual output of 190000 tons in Nanjing Chemical Park, which is expected to be completed and put into operation in early 2014. Taiwan's Yanzhou group has launched an annual production of 80000 tons of acrylic acid and 80000 tons of acrylic butyrate vinegar project with a total investment of US $220 million in Nantong. Shandong Kaitai group is also building an acrylic acid project with an annual capacity of 80000 tons. In addition, there are also Zhejiang satellite Petrochemical's super absorbent resin project in Jiaxing City, Zhejiang Province, and Formosa Petrochemical's comprehensive acrylic acid project in Ningbo.
According to the analysis of UK tycoon, China's acrylic acid market has been oversupplied. By the end of 2011, there were 11 domestic acrylic acid production enterprises, with an annual production capacity of 1.3 million tons. This year, China's crude acrylic acid production capacity is expected to grow by 24%, to 1.83 million tons, and the acrylic acid production is expected to increase by 31%, to 1.97 million tons. Due to the centralized production of a large number of acrylic acid and ester production capacity in China, China will change from a net importer of acrylic acid to a net exporter, and will significantly affect the supply pattern of Asian market, and even change the supply pattern of European, North and South American markets.
In recent years, China's acrylic acid market demand continues to grow at an average annual growth rate of 10%. The demand will increase from 1.1 million tons in 2011 to 1.3 million tons this year, mainly driven by the demand growth of superabsorbent resin, water treatment agent, coating adhesive and textiles. This leads to the expansion of enterprises. It is estimated that in the next few years, it will still be the peak of acrylic acid and ester plant construction.
At the acrylate and methyl ester Market Forum held recently, relevant experts also said that from 2012 to 2013, if the devices such as Jiangsu Sanmu, Jiangsu Jurong, CNOOC Huizhou, Qilu Kaitai and Yantai Wanhua are put into operation as expected, the market capacity of acrylate will be in a centralized explosion, while the new expansion speed of the downstream is far behind the upstream, which may lead to excess situation.