The export market size of polyether polyols has increased significantly, and the industry has broad room for development.

Polyether polyol, referred to as polyether, refers to an organic polymer produced by the addition polymerization reaction of a initiator and ethylene oxide, propylene oxide, butylene oxide, etc. in the presence of a catalyst. According to different uses, polyether polyols can be divided into five categories: soft foam, hard foam, CASE, POP and special polyether polyols. Polyether polyol is a colorless to brown viscous liquid at room temperature. It is usually easily soluble in aromatic hydrocarbons, halogenated hydrocarbons, alcohols, and ketones. It has the characteristics of low toxicity, good oil resistance, high wettability, and good antioxidant properties. It is Important chemical raw materials.

Polyether polyol is a key raw material for the production of polyurethane polymer materials. Polyurethane consumption accounts for more than 83% of the total polyether polyol. Polyurethane has a wide range of applications. In recent years, the demand for polyurethane in domestic furniture interiors, electronics, construction, shoe materials, home appliances, automobiles and other markets has continued to increase, which in turn has driven the expansion of the production and sales of polyether polyols. According to the “Polyether Polyol Industry Market In-depth Research and Investment Prospects Forecast Analysis Report 2022-2026” released by the Industrial Research Center , domestic polyether polyol production in 2021 will be 4.25 million tons, a year-on-year increase of 21.8%; apparent consumption will be 3.82 million tons, a year-on-year increase of 21.6%.

The continued expansion of polyether polyol sales is driving the continuous increase in its production capacity. In 2021, the domestic polyether polyol production capacity will be approximately 6.84 million tons, a year-on-year increase of 15.1%. From the perspective of production capacity distribution, East China is currently the region with the largest polyether polyol production capacity in China, accounting for approximately 75.6% of the total domestic production capacity, followed by South China and North China, accounting for 12.5% ​​and 7.1% respectively.

At present, the main participants in the domestic polyether polyol market include multinational companies such as Dow Chemical, Covestro Group, and BASF Group; large state-owned enterprises such as Shenyang Chemical, Shandong Dongda, and Sinochem International; Wanhua Chemical, Jiangsu Changhua, and China Shipping Shell and other private companies. Among them, the leading domestic polyether polyol company is Wanhua Chemical, and its production capacity accounts for the largest share of the domestic market in 2021, accounting for 7.6%. At present, the production capacity distribution of domestic enterprises is relatively scattered, with CR5 being only 27.1%, and the concentration of the polyether polyol industry is low.

At this stage, the uneven distribution of domestic polyether polyol product structure has led to the problem of overcapacity. Therefore, local companies have gradually opened up foreign markets to solve the overcapacity. In recent years, the export scale of my country’s polyether polyols has continued to expand. According to data from the General Administration of Customs, my country’s polyether polyol import volume in 2021 will be 611,100 tons, a year-on-year increase of 4.64%; the export volume will be 1.1447 million tons, a year-on-year increase of 42.67%.

Industry analysts personnel said that although domestic polyether polyol production capacity is relatively large, domestic products are mainly concentrated in the low-end market and high-end products Imports from abroad are still needed to fill domestic gaps. At present, the domestic polyether polyol industry is gradually entering a period of adjustment, and the product structure is gradually changing from a single product to a multi-category product, thereby increasing its market share by expanding the market scale. In the future, the concentration of the domestic polyether polyol industry will continue to increase, and advantageous companies will accelerate their deployment in the domestic high-end market and the global market. The industry has broad room for development.