With the promotion of structural reforms on the supply side, the chemical fiber industry will continue to operate steadily in 2017 and lead the way in quality and efficiency. The chemical fiber industry accelerated the elimination of backwardness and mergers and reorganizations. With a limited increase in total volume, the industry's concentration has improved; the overall operating rate of the industry has improved compared to 2015 and 2016, and inventory has remained low, with product prices oscillating under the cost of the original branch. Ascending, the quality of the industry's operations has improved significantly, and the benefits have increased significantly.
Chemical fiber production grows
In recent years, China has made full use of the strong demand in the domestic market and its advantages in industrial development, achieving rapid growth in production capacity and significantly improving industrial competitiveness. At present, China’s chemical fiber output ranks first in the world, and its product coverage and application range are also the most extensive in the world. In 2011-2017, China's chemical fiber output increased volatility; by 2017, China's chemical fiber production reached 491.96 million tons, an increase of 5.0% year-on-year.
As far as the region is concerned, Zhejiang Province is the largest producer of China's chemical fiber industry and the largest chemical fiber industry base in the world. The chemical fiber industry has become an important pillar industry in Zhejiang's national economy and a stable social production industry. In 2017, the output of chemical fiber in Zhejiang reached 20.56 million tons, ranking first in national chemical fiber output. As a textile province, Jiangsu Province has a strong chemical fiber industry. In 2017, Jiangsu Province achieved 14.71 million tons of chemical fiber production, ranking second in the country. The output of chemical fiber is ranked below Fujian Province in the provinces of Sichuan, Sichuan, and other regions after 2017. The chemical fiber output in 2017 is below 10 million tons.
Chemical fiber sales slightly decreased
In recent years, the domestic market in China has continued to expand, while natural fibers such as cotton have been slow to grow under the constraints of land, and the status of chemical fiber in textile raw materials will be further strengthened. With the textile market picking up, the demand for chemical fiber has improved. In the first three quarters of 2017, the cumulative sales of chemical fiber reached 37.5072 million tons, a year-on-year increase of 5.7%. From the whole year, the sales volume of chemical fiber in 2017 was 48.1022 million tons, which was 1.4% lower than 2016. In the first quarter of 2018, the sales volume of chemical fiber in China was 10,231,100 tons, a year-on-year decrease of 5.9%.
The number of enterprises above designated size continues to decrease
From 2011 to 2014, the number of enterprises above designated size in China's chemical fiber manufacturing industry has increased year by year, from 1,557 in 2011 to 1,938. After 2014, the number of above-scale enterprises in China's chemical fiber manufacturing industry continued to decrease. By 2017, the number of companies above the scale of chemical fiber manufacturing was 1,851, a year-on-year decrease of 1.9%.
Chemical fiber industry operating efficiency is stable
From 2011 to 2017, China's chemical fiber manufacturing sales revenue increased year by year; in 2011, industry sales revenue was 633.088 billion yuan; by 2017, the chemical fiber manufacturing industry reached 790.58 billion yuan, an increase of 24.9%. Contrary to changes in sales revenue, since 2011, the total profit of China's chemical fiber manufacturing industry has continued to decrease, from 44.49 billion yuan in 2011 to 22.523 billion yuan in 2016. In 2017, the profitability of China's chemical fiber manufacturing industry has improved, and the total profit of chemical fiber enterprises above designated size has reached 32.062 billion yuan, a year-on-year increase of 21.4%. The profits of China's chemical fiber industry mainly come from the three industries of human fiber, polyester and nylon. The rebound in the profits of the chemical fiber industry will promote the industry's enthusiasm for fixed asset investment, control the reasonable growth of production capacity, and continue to adjust the industrial structure will be the key to the future development of the industry.
The Development of Chemical Fiber Industry in 2018
