In the next five years, the SAP resin market in China will maintain double-digit growth
Super Absorbent Polymer (SAP) is a new type of functional Polymer material with Super Absorbent Polymer capacity, which is widely used in sanitary products, medicine, agriculture, forestry, horticulture, industrial production, construction, etc.Among them, sanitary products account for nearly 90% of SAP consumption.Industry institutions estimate that as China's two-child policy is fully implemented, the population is aging, people's purchasing power is enhanced and overseas markets are explored, SAP demand will continue to grow rapidly.
By the end of 2019, SAP's global annual capacity is about 3.8 million tons, with about 67 percent of capacity concentrated in Asia, with China contributing 38 percent.In 2019, global SAP production is about 2.6 million tons and consumption is about 2.4 million tons.SAP production in China is 580,000 tons and apparent consumption is 532,000 tons.Some institutions forecast that the global SAP demand will continue to grow at an annual rate of 6-7% in the next five years.Asiahua expects that in the next five years, the market demand of SAP in China will still maintain double-digit growth, which is significantly higher than the global average.
At present, the main manufacturers of SAP are evtron, Japan catalyst, basf, sumitomo seiwa and SDP Global co., LTD. The combined production capacity of the first three companies accounts for more than 50% of the total Global production capacity.Major SAP manufacturers in China include yixing dansen technology, sandaya, nuer biotechnology, satellite petrochemical, Formosa plastic absorbent resin co., LTD., yanba co., LTD., etc.However, there is still a big gap between SAP manufacturers in China and foreign countries in terms of product industrialization and application research. High-end products are mainly supplied by foreign-funded enterprises and imported products, which are in urgent need of upgrading.
As overseas capacity continues to expand, domestic companies are also increasing their investment in SAP.In the second half of this year, wanhua's SAP unit of 30,000 tons/year will start operation smoothly and produce qualified products. The capacity expansion of SAP of local Chinese enterprises will continue to accelerate.At present, including satellite petrochemical, quanzhou bang lida, shenghong sierbang and other enterprises are expanding SAP production line, domestic SAP is welcoming product and technology upgrading.
The 13th five-year plan is a critical period for China to transform and upgrade its petrochemical industry and become a manufacturing power.In mid-october 2016, the ministry of industry and information technology released the petrochemical and chemical industry development plan (2016-2020), which pointed out that China has excess production capacity of traditional petrochemical and chemical products and a large gap in high-end products.During the 13th five-year plan period, the market demand for petrochemical and chemical products will continue to grow rapidly, driven by the steady promotion of new urbanization and consumption upgrading.Demand for high-end petrochemicals and chemicals will grow faster than in traditional industries.
As a downstream emerging consumer product of acrylic acid, SAP resin will account for 20% of acrylic acid consumption in 2019.Unlike most traditional chemical products whose downstream demand is saturated and can only maintain a low growth rate, the rapid growth of SAP will lead to an increase in the overall demand for acrylic acid and facilitate the rapid digestion of acrylic acid capacity.At the same time, the vacancy of high-end products also provides a good development direction for acrylic acid manufacturers.