my country's polyester industry is seriously introverted and the competition is more intense

In recent years, with the rapid development of China's economy, China's polyester industry's global market position is also gradually improving.
Longzhong data shows that the proportion of China's polyester production in the world has increased from 43.
54% to around 64.
35% in the past ten years
.

Polyester leading enterprises dominate the list, and the competition between them is also more intense
.
At present, the CR10 industry concentration of polyester industry has increased from 54.
2% in 2019 to the current 61.
9%.
It is expected that CR10 will further increase to more than 80% in 2023
.

On November 29th, the 2021 China Top 500 Petroleum and Chemical Enterprises list was released.
More than 30 chemical fiber-related enterprises were shortlisted, and Hengli Group Co.
, Ltd.
ranked third on the list
.

Figure 1 Ranking of Top 500 Chinese Petroleum and Chemical Enterprises in 2021 (Chemical Fiber-related Enterprises)

The editor looked at the list over the years.
Basically, there are only a few polyester faucets in recent years.
There is a saying that the factory orders for the production of the most advanced winding first-class equipment in the world are all arranged in a few years.
, and the equipment produced is given priority to supply some leading players in the Chinese polyester market
.
The weight of these leaders in the global polyester market is thus evident
.
The competition in the polyester industry has also seen serious involution
.

In recent years, the top 10 leaders in the domestic polyester industry have been continuously improved, and the comprehensive competitiveness of the industrial chain of leading enterprises has been continuously enhanced
.

In recent years, with the rapid development of China's economy, China's polyester industry's global market position is also gradually improving.
Longzhong data shows that the proportion of China's polyester production in the world has increased from 43.
54% to around 64.
35% in the past ten years
.

Figure 2 Global and Chinese polyester output from 2010 to 2020

China is the global polyester production and consumption center, and Jiangsu and Zhejiang regions are the main polyester producing areas in China
.
As can be seen from the figure below, the production capacity of polyester in Zhejiang and Jiangsu provinces accounts for about 77% of the total production capacity of polyester in the country
.

Figure 3 Distribution of polyester production capacity in China in 2021

Zhejiang is the largest production and marketing province, while Zhejiang is mainly concentrated in Huzhou, Xiaoshao, Ningbo, and the polyester industry is relatively concentrated
.

Domestic technological progress promotes rapid growth of polyester production capacity

In the early stage, the production technology sources of China's polyester industry were mostly Swiss Iventa, DuPont, Barmag, etc.
The use of domestic production technology accounted for a small proportion.
With the continuous progress of domestic technology, about 60% of China's polyester production enterprises used China Textile.
Institute production technology
.

Figure 4 The start-up time of polyester production plants in China

Figure 5 Comparison of polyester plant construction in different periods

China's polyester production technology and equipment are localized, and the scale of production of a single set of equipment has been continuously expanded, reducing investment costs and shortening the construction period of the equipment.
In recent years, China's production capacity has entered a period of rapid growth, especially in 2011-2015.
79 sets of new production capacity have been added.
Since 2016, the production rate of new devices has slowed down compared with the previous cycle.
However, overall, 69 sets of new production devices were put into production in China during the "13th Five-Year Plan" period, which is still in a stage of rapid growth
.
According to statistics, 17 sets of plants are expected to be put into operation in 2021, and most of the new production capacity will be concentrated in leading polyester enterprises
.

Figure 6 Capacity of TOP10 Chinese polyester manufacturers (unit: 10,000 tons)

At the same time, the leading polyester enterprises dominate the list, and the competition between them is also more intense
.
At present, the CR10 industry concentration of polyester industry has increased from 54.
2% in 2019 to the current 61.
9%, and according to Longzhong statistics, it is expected that CR10 will further increase to more than 80% in 2023
.
According to the classification standards of American economist Bain and Japan's Ministry of International Trade and Industry, the industrial market structure is roughly divided into two types: oligopolistic (CR10 ≥ 40%) and competitive (CR10 < 40%)
.
Among them, the oligarchic type is subdivided into extremely high oligarchic type (CR10 ≥ 70%) and low-concentration oligarchic type (40% ≤ CR10 < 70%); the competitive type is further subdivided into low-concentration competitive type (20% ≤ CR10 < 40 %) and decentralized competition (CR10 < 20%)
.
At present, the industrial concentration of China's polyester can be classified as low-concentration and oligopoly by applying this theory
.
Looking at the ranking of the list, these new changes are reflected from the side.
Today, even the old predecessors who are as stable as Mount Tai may be overtaken by their peers and lose in the competition
.

Under the current international economic situation, the high concentration of the industry means that the comprehensive competitiveness of the industrial chain is enhanced, and the competition among enterprises is also becoming more intense
.
As far as polyester filaments are concerned at present, the industry concentration is high, and large-scale enterprises play a certain leading role in the market, jointly promote the development of the market, maintain the industry's profit level, and to a certain extent are also beneficial to the healthy and stable development of the industry
.
In the future, the competition in the polyester market will be further intensified, the granularity of business operations will be refined, and cost control will become more stringent.
Polyester production enterprises will grow and widen the industrial chain through horizontal or vertical integration, with large scale, strong strength and supporting industrial chain.
Perfect enterprises will have more right to speak, so in the future polyester industry, brand effect and large-scale development will be an important bargaining chip for enterprises to compete for the market
.