Future of adipic acid market in china

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"It is the first edition report for adipic acid market in China from CCM. …

"It is the first edition report for adipic acid market in China from CCM.

After anti-dumping investigation into and anti-dumping duties levied on imported adipic acid respectively in 2008 and 2009, China’s adipic acid industry has undergone great changes in the past two years. What are the changes in production, consumption, import and export, competitive landscape in China’s adipic acid industry? What is the trend of China’s adipic acid industry? CCM will give you the right answers in this report.

The report also covers the following aspects of China’s adipic acid industry:

- Government regulations on adipic acid industry in China, especially anti-dumping policy
- Price competition between domestic and overseas adipic acid
- Impact of anti-dumping on future import and price
- All adipic acid producers in China and their plans for future adipic acid projects
- Strengths and weaknesses in China’s adipic acid production
- Comparison between domestic and overseas adipic acid in quality and consumption
- Value, structure, and distribution of adipic acid consumption in China
- Forecast on adipic acid consumption in next five years, especially in key consumption fields
- Investment opportunities in China’s adipic acid industry
"

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  • 1. CCM Data & Primary Intelligence Website: http://www.cnchemicals.com Email: econtact@cnchemicals.com Tel: +86-20-3761 6606 Fax: +86-20-3761 6968
  • 2. CCM Data & Primary Intelligence Description: It is the first edition report for adipic acid market in China from CCM. After anti-dumping investigation into and anti-dumping duties levied on imported adipic acid respectively in 2008 and 2009, China’s adipic acid industry has undergone great changes in the past two years. What are the changes in production, consumption, import and export, competitive landscape in China’s adipic acid industry? What is the trend of China’s adipic acid industry? CCM will give you the right answers in this report. The report also covers the following aspects of China’s adipic acid industry: - Government regulations on adipic acid industry in China, especially anti-dumping policy - Price competition between domestic and overseas adipic acid - Impact of anti-dumping on future import and price - All adipic acid producers in China and their plans for future adipic acid projects - Strengths and weaknesses in China’s adipic acid production - Comparison between domestic and overseas adipic acid in quality and consumption - Value, structure, and distribution of adipic acid consumption in China - Forecast on adipic acid consumption in next five years, especially in key consumption fields - Investment opportunities in China’s adipic acid industry Main content: No. Content Page Executive summary 1 Methodology and source 2 I Global adipic acid market and China’s position 5 II China’s anti-dumping policy on adipic acid 10 II-1 Government’s regulations 10 II-2 Import and export analysis 2005~2009 11 II-3 Price competition between domestic and overseas adipic acid 15 II-4 Impact on future import and domestic price 17 III Adipic acid production in China 19 III-1 Historical adipic acid production 2005~2009 19 III-2 Strengths and weaknesses in production 23 III-3 Future projects and trend 24 III-4 Forecast on adipic acid production 2010~2014 25 IV Adipic acid consumption in China 26 IV-1 Consumption situation 26 IV-2 Consumption fields 28 Quality and consumption comparison between domestic and oversea adipic IV-3 31 acid IV-4 Forecast on adipic acid consumption 2010~2014 32 V Market channels and shares of domestic and overseas producers 35 VI Competitive landscape 38 VII Conclusion and opportunities 40 Website: http://www.cnchemicals.com Email: econtact@cnchemicals.com Tel: +86-20-3761 6606 Fax: +86-20-3761 6968
  • 3. CCM Data & Primary Intelligence VIII Profile 41 VIII-1 Key producers 41 VIII-1-1 PetroChina Liaoyang Petrochemical Co., Ltd. 41 … … 43 VIII-1-6 Taiyuan Chemical Industry Co., Ltd. 48 VIII-2 Key end users 50 VIII-2-1 Yutian Chemical Industry 50 … … 50 VIII-2-18 Zhejiang Longfeng Chemical Industry Co., Ltd. 60 Executive summary: In the past two years, with technology breakthrough and anti-dumping duties levied on imported adipic acid from the US, EU and South Korea, adipic acid capacity of China has expanded rapidly, which has changed the pattern of global adipic acid industry. Before 2008, owing to influx of imported adipic aicd with lower price, China’s adipic acid production entered a stagnation stage, with no capacity expansion in 2005~2007, which resulted in the increasing Chinese adipic acid dependency on import. For instance, xx of Chinese adipic acid was imported in 2007, while xx in 2005. Meanwhile, the lower price of imported products pushed down the settlement price and reduced the profitability of domestic producers. Fortunately, the situation has changed since 2008: after Chinese government started to conduct anti-dumping investigation on imported adipic acid from the US, EU and South Korea, some new entrants were engaged in adipic acid production, such as Shandong Haili Chemical Co., Ltd., Shandong Hongye Group, and Xinjiang Dushanzi TianLi High&New Tech Co., Ltd. After the capacity released, China’s self-sufficiency rate of adipic acid was increasing. As for consumption, driven by rapid development of PU sizing, PU resin for shoe sole and nylon 66 salt, consumption of adipic acid achieved a CAGR of xx in 2005~2009, despite its growth rate was negative in 2008 impacted by global economic crisis. PU sizing, PU resin for shoe sole and nylon 66 salt are the three largest downstream products of adipic acid, accounting for xx, xx, xx separately in total consumption volume in 2009. With increasing new entrants in this field and expanding capacity in the coming years, competition in China’s adipic acid market will be more intense for both domestic and overseas producers. Character of CCM' Report: The aim of this report is to provide powerful assistance to the strategy group and the management team in making correct decision as how to penetrate the ever-increasing China market and how to catch the maximum commercial opportunities. The report is formulated independently by CCM’s professional market researchers, based on the first-hand and primary data which are analyzed by scientific methodology, confirmed with both manufacturers/end users/traders and legal authorities, and presented in a logic way. Sample pages: Website: http://www.cnchemicals.com Email: econtact@cnchemicals.com Tel: +86-20-3761 6606 Fax: +86-20-3761 6968
  • 4. CCM Data & Primary Intelligence I Global adipic acid market and China’s position Global adipic acid market In past few years, global adipic acid supply was in shortage, pushing its price up. However, with the sharp rising of China’s adipic acid production in the past two years….. Figure I-1 Global capacity, output of adipic acid and their growth rates, 2005~2009 4,000,000 20% 3,600,000 16% Capacity and output Growth rate 3,200,000 12% 2,800,000 8% 2,400,000 4% 2,000,000 0% 2005 2006 2007 2008 2009 Capacity (t/a) Output (tonne) Grow th rate of capacity Grow th rate of output Source: CCM International In 2009, total about 00000 active manufacturers were engaged in adipic acid production all over the world and Invista was the largest one. Table I-1 Main adipic acid producers in the world, 2009 No. Name Country Capacity, (t/a) Total, (t/a) Share by capacity US 00000000 00000000 00000000 00000000 00000000 1 00000000 00000000 00000000 00000000 31.32% 00000000 00000000 00000000 00000000 2 Rhodia 000000 00000000 00000000 00000000 3 00000000 00000000 00000000 00000000 00000000 4 00000000 Germany 00000000 300,000 00000000 00000000 00000000 00000000 00000000 5 00000000 00000000 80,000 6 Asahi Kasei 000000 00000000 00000000 00000000 7 00000000 00000000 00000000 140,000 00000000 8 00000000 00000000 00000000 00000000 00000000 9 Shandong Haili Chemical Co., Ltd. China 00000000 00000000 00000000 Others - 00000000 00000000 00000000 00000000 00000000 00000000 Total - Source: CCM International Website: http://www.cnchemicals.com Email: econtact@cnchemicals.com Tel: +86-20-3761 6606 Fax: +86-20-3761 6968
  • 5. CCM Data & Primary Intelligence II China’s anti-dumping policy on adipic acid II-2 Import and export analysis 2005~2009 Import situation in 2009 (January to November) Importers In 2009, over 00000000 enterprises are engaged in adipic acid import in China, among which Zhejiang Huafon New Materials Co., Ltd. is the largest one, which is also the largest polyurethane producer in China. Table II-2-2 Key importers of adipic acid in China, Jan. ~ Nov. 2009 No. Name Import volume (tonne) Value (USD) Price (USD/kg) 1 000000000000000000000000000 000000 00000000 00000000 2 Zhejiang Longfeng Chemical Industry Co., Ltd. 00000000 00000000 00000000 3 000000000000000000000000000 00000000 00000000 00000000 4 000000000000000000000000000 00000000 00000000 00000000 5 000000000000000000000000000 00000000 00000000 00000000 6 000000000000000000000000000 00000000 4,384,171 00000000 7 000000000000000000000000000 00000000 00000000 00000000 8 000000000000000000000000000 00000000 00000000 1.04 9 000000000000000000000000000 1,786.000 00000000 00000000 10 000000000000000000000000000 00000000 00000000 00000000 11 000000000000000000000000000 00000000 00000000 00000000 12 Shanghai Achemical Trading Co., Ltd. 00000000 00000000 00000000 13 000000000000000000000000000 00000000 1,459,201 00000000 14 000000000000000000000000000 00000000 00000000 1.35 15 000000000000000000000000000 00000000 00000000 00000000 16 000000000000000000000000000 00000000 00000000 00000000 17 000000000000000000000000000 1,437.100 00000000 00000000 18 000000000000000000000000000 00000000 1,686,681 00000000 19 000000000000000000000000000 00000000 00000000 00000000 20 Jiangsu Light Industrial Products Import & Export (Group) 00000000 00000000 00000000 Corporation 21 000000000000000000000000000 00000000 00000000 0.84 22 000000000000000000000000000 00000000 00000000 00000000 23 000000000000000000000000000 00000000 00000000 00000000 24 000000000000000000000000000 1,110.000 00000000 00000000 25 000000000000000000000000000 00000000 1,764,627 00000000 Others 00000000 00000000 00000000 Total 00000000 00000000 00000000 Source: CCM International Website: http://www.cnchemicals.com Email: econtact@cnchemicals.com Tel: +86-20-3761 6606 Fax: +86-20-3761 6968
  • 6. CCM Data & Primary Intelligence III Adipic acid production in China Adipic acid production After dramatic development in the past two years, the capacity of adipic acid has reached 00000000t/a by the end of 2009, compared with output of 00000000 tonnes in 2009. Figure III-1-1 Adipic acid production situation in China, 2005~2009 600,000 80% 500,000 Capacity and output 60% 400,000 Growth rate 300,000 40% 200,000 20% 100,000 0 0% 2005 2006 2007 2008 2009 Capacity (t/a) Output (tonne) Grow th rate of capacity Grow th rate of output Source: CCM International Table III-1-1 Brief introduction of all adipic acid producers in China, 2009 No. English name Abbreviation Location Ownership Status Capacity (t/a) 2009 2008 2009 2008 1 000000 000000 000000 State-owned 000000 000000 000000 000000 2 000000 000000 000000 000000 000000 000000 000000 000000 3 Shandong Haili Chemical Co., Ltd. 000000 000000 000000 000000 000000 000000 000000 4 000000 000000 000000 000000 000000 000000 000000 000000 5 000000 000000 000000 000000 000000 000000 000000 000000 6 000000 000000 Zhejiang 000000 000000 Active 000000 000000 7 000000 000000 000000 000000 Idle 000000 000000 000000 8 000000 000000 000000 000000 000000 000000 000000 000000 9 000000 000000 000000 000000 000000 000000 000000 000000 Total - - - - - 000000 000000 Source: CCM International IV Adipic acid consumption in China IV-1 Consumption situation After a gloomy demand in 2008, the apparent consumption of aidpic acid in China reached ….. Website: http://www.cnchemicals.com Email: econtact@cnchemicals.com Tel: +86-20-3761 6606 Fax: +86-20-3761 6968
  • 7. CCM Data & Primary Intelligence Table IV-1-1 Apparent consumption of adipic acid in China, 2005~2009 Year Output (tonne) Import (tonne) Export (tonne) Apparent consumption Total value (tonne) (USD) 2005 000000000000 000000000000 0000000000 000000000000 000000000000 2006 0000000000 000000000000 000000000000 000000000000 000000000000 2007 000000000000 0000000000 000000000000 000000000000 000000000000 2008 000000000000 000000000000 000000000000 407,447 000000000000 2009 000000000000 000000000000 000000000000 000000000000 0000000000 Source: CCM International VI Competitive landscape With fast capacity expansion in China, global adipic acid industry landscape has undergone considerable changes in the past two years: Table VI-1 SWOT analysis between domestic and overseas adipic acid producers Item S (Strength) W (Weakness) O (Opportunities) T (Threatens) Domestic 000000000000 000000000000 Huge market in 000000000000 producers Low labor cost 000000000000000000 China 000000000000 000000000000 000000000000 Oversea producers 000000000000 000000000000 000000000000 Global economy 000000000000 slump 000000000000000000 000000000000 Source: CCM International Website: http://www.cnchemicals.com Email: econtact@cnchemicals.com Tel: +86-20-3761 6606 Fax: +86-20-3761 6968