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【Chemical machinery equipment network market analysis ] Coal coking is also known as coal high-temperature carbonization, specifically refers to the use of coal as a raw material, heat to about 1000 ℃ under air-isolated conditions, produce coke through high-temperature carbonization, and obtain coal gas, coal tar and other chemical products at the same time the process of.
my country has formed a relatively complete coking industry system, but my country’s coking industry still has large-scale backward production capacity, low industrial concentration, and declining operating efficiency of the coking industry.
Market analysis of chemical machinery equipment networkChemical machinery and equipmentmy country has formed a relatively complete coking industry system, but my country’s coking industry still has large-scale backward production capacity, low industrial concentration, and declining operating efficiency of the coking industry.
The competitive landscape of the coking industry is two-dimensional, and independent coking accounts for a large proportion
The competitive landscape of the coking industry is two-dimensional, and independent coking accounts for a large proportionCoking is a well-developed and representative coal chemical industry.
Over the years, due to the relatively sufficient supply of raw materials and low technical thresholds, a large number of small-scale, small-capacity coking companies have emerged in various regions.
The industrial concentration is not high and it is a perfectly competitive market.
Over the years, due to the relatively sufficient supply of raw materials and low technical thresholds, a large number of small-scale, small-capacity coking companies have emerged in various regions.
The industrial concentration is not high and it is a perfectly competitive market.
The current competitive landscape of the coking industry is mainly two-dimensional competition between independent coking plants and self-built coking plants built by steel mills.
At the same time, there are also some mining bureaus investing in the construction of coking plants in the market.
Through self-development or joint reorganization, my country’s coking companies have basically formed joint steel coking companies such as Baosteel Group, Anben Iron and Steel Group, Wuhan Iron and Steel (Group) Company, China Shougang Group, and Xuyang Coal Chemical Group Co.
, Ltd.
, Shenhua Wuhai Energy Co.
, Ltd.
Liability company, China Coal Coking Holding Co.
, Ltd.
and other large independent coking companies are the main body, and small and medium coking companies coexist in the industrial development pattern.
At the same time, there are also some mining bureaus investing in the construction of coking plants in the market.
Through self-development or joint reorganization, my country’s coking companies have basically formed joint steel coking companies such as Baosteel Group, Anben Iron and Steel Group, Wuhan Iron and Steel (Group) Company, China Shougang Group, and Xuyang Coal Chemical Group Co.
, Ltd.
, Shenhua Wuhai Energy Co.
, Ltd.
Liability company, China Coal Coking Holding Co.
, Ltd.
and other large independent coking companies are the main body, and small and medium coking companies coexist in the industrial development pattern.
The investment in the construction of coking plants by iron and steel plants' own coking companies and coal companies is generally restricted by local environmental protection capacity, and the extent of industrial chain extension is low.
Coking by-products such as coal tar, coke oven gas and other deep processing levels are not high, resulting in low resource utilization.
Coking by-products such as coal tar, coke oven gas and other deep processing levels are not high, resulting in low resource utilization.
As a result, the coking capacity expansion of coke production capacity is insufficiently promoted by the investment in the construction of coking plants by iron and steel plants' own coking enterprises and coal enterprises.
According to statistics from the China Coking Industry Association, the coke output of the coking enterprises owned by steel plants accounts for about one-third of the country’s total coke output.
According to statistics from the China Coking Industry Association, the coke output of the coking enterprises owned by steel plants accounts for about one-third of the country’s total coke output.
Independent coking companies sell coke products to iron and steel companies and other smelting companies.
Their competitiveness is mainly reflected in the processing of coking by-products and the comprehensive recycling of coke oven gas.
For independent coking companies, a rich product structure and a long industrial chain are the fundamentals of their competitive advantages.
According to statistics from the China Coking Industry Association, the coke output of independent coking plants accounts for more than 65% of the country’s total coke output.
Their competitiveness is mainly reflected in the processing of coking by-products and the comprehensive recycling of coke oven gas.
For independent coking companies, a rich product structure and a long industrial chain are the fundamentals of their competitive advantages.
According to statistics from the China Coking Industry Association, the coke output of independent coking plants accounts for more than 65% of the country’s total coke output.
According to the data of myteel (my steel network), as of the end of 2019, the total production capacity of conventional coke ovens and heat recovery coke ovens nationwide was 545 million tons, of which the coking capacity of steel plants was 184 million tons, accounting for 33.
7%.
Independent coking The production capacity is 361 million tons, accounting for 66.
3%.
7%.
Independent coking The production capacity is 361 million tons, accounting for 66.
3%.
Overcapacity and stagnant industry income
Overcapacity and stagnant industry income my country's coking industry has undergone several years of adjustment and differentiation, and the survival of the fittest has resulted in a slight increase in coke production and a decrease in coke consumption, and the overall state of overcapacity is still present.
Since 2018, the overall supply and demand of domestic coking coal has been overcapacity.
In 2018, the total national coke production was 438 million tons.
In 2019, the national coke production was 471 million tons, a year-on-year increase of 5%.
The coke consumption was only 450 million tons, and the overall capacity was overcapacity.
Since 2018, the overall supply and demand of domestic coking coal has been overcapacity.
In 2018, the total national coke production was 438 million tons.
In 2019, the national coke production was 471 million tons, a year-on-year increase of 5%.
The coke consumption was only 450 million tons, and the overall capacity was overcapacity.
Since China's supply-side reforms, the coking industry has eliminated outdated production capacity, the blast furnace capacity utilization rate has increased, and coke prices have fluctuated upward.
However, due to the fall in coke prices in 2019 and the high prices of raw coal, the economic benefits of the coking industry have fallen sharply.
However, due to the fall in coke prices in 2019 and the high prices of raw coal, the economic benefits of the coking industry have fallen sharply.
Taking Shanxi Province, the main coke production area, as an example, in 2019, the coking industry achieved main business revenue of 195.
6 billion yuan, a year-on-year increase of 0.
4%; realized a profit of 8.
2 billion yuan, a profit rate of 4.
2%, a year-on-year decrease of 5.
3 percentage points.
On the whole, the sales revenue of my country's coking industry in 2019 was 633.
37 billion yuan, a slight increase of 0.
4% year-on-year.
The industry income has stagnated significantly.
6 billion yuan, a year-on-year increase of 0.
4%; realized a profit of 8.
2 billion yuan, a profit rate of 4.
2%, a year-on-year decrease of 5.
3 percentage points.
On the whole, the sales revenue of my country's coking industry in 2019 was 633.
37 billion yuan, a slight increase of 0.
4% year-on-year.
The industry income has stagnated significantly.
Decline in industry operating efficiency
Decline in industry operating efficiency Since 2012, due to the slowdown in macroeconomic growth, the coke industry has overcapacity, the prices of steel, coke, and coal have fallen sharply, and the profit margin of the coke industry has decreased.
In 2014 and 2015, more than 50% of the companies in the industry suffered losses.
After the Spring Festival of 2016, the price of steel has been pulled back, driven by the real estate industry, automobile industry, and infrastructure investment.
At the same time, some coking plants shut down and restricted production due to non-compliance with environmental protection standards.
The supply of coke is tight, prices have rebounded, and industry profits have improved.
In 2014 and 2015, more than 50% of the companies in the industry suffered losses.
After the Spring Festival of 2016, the price of steel has been pulled back, driven by the real estate industry, automobile industry, and infrastructure investment.
At the same time, some coking plants shut down and restricted production due to non-compliance with environmental protection standards.
The supply of coke is tight, prices have rebounded, and industry profits have improved.
From the perspective of the gross profit margin of the coking industry, from 2016 to 2018, benefiting from supply-side reforms, although the price of raw coking coal has also risen sharply, the profitability of related businesses of my country's major coking companies has significantly improved.
National established coke companies such as Meijin Energy and Shanxi Coking have increased significantly since 2016, and it has been continuously for 3 years.
National established coke companies such as Meijin Energy and Shanxi Coking have increased significantly since 2016, and it has been continuously for 3 years.
However, in 2019, due to the fall in coke prices and the high prices of raw coal, the operating efficiency of the entire coking industry has been greatly affected.
The gross profit margin of coking products of major listed companies in the industry has dropped.
Among them, the gross profit margin of Baofeng Energy remains high.
The annual gross profit margin of coking products is as high as 43.
95%, among the existing listed coking companies*.
As of the third quarterly report of 2020, the gross profit margin of major listed companies in the industry has recovered to some extent.
However, the operating efficiency of the industry still declined significantly.
The gross profit margin of coking products of major listed companies in the industry has dropped.
Among them, the gross profit margin of Baofeng Energy remains high.
The annual gross profit margin of coking products is as high as 43.
95%, among the existing listed coking companies*.
As of the third quarterly report of 2020, the gross profit margin of major listed companies in the industry has recovered to some extent.
However, the operating efficiency of the industry still declined significantly.
Note: Baofeng Energy went public in 2019 and has not announced financial data for 2014 and 2015.
For more detailed research and analysis of this industry, please refer to the "China Coal Chemical Industry Development Prospects and Investment Forecast Analysis Report" by the Qianzhan Industry Research Institute.
At the same time, the Qianzhan Industry Research Institute provides industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment promotion, IPO fundraising feasibility research and other solutions.
At the same time, the Qianzhan Industry Research Institute provides industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment promotion, IPO fundraising feasibility research and other solutions.
Original Title: Analysis of China's Coal Chemical Industry Market Segmentation in 2021 Coking Industry Operating Benefits Decline
