Compared with 2014, my country’s chemical fiber industry will perform better this year. Industry insiders said that resolving production capacity pressure, optimizing inventory, and controlling increment have become the key tasks of the chemical fiber industry in 2015.
In 2014, my country’s chemical fiber industry accelerated industrial upgrading, and the overall output growth rate dropped. While digesting existing production capacity, the industry structure was further optimized. Relevant research reports pointed out that in 2015, the overall operation of the chemical fiber industry may be slightly better than that in 2014. The total output of chemical fiber for the year is expected to be 46 million tons, a year-on-year increase of about 5%. The total profit has increased compared with the previous year, and the operation quality has improved.
According to data from the National Bureau of Statistics, in 2014, the industrial added value of the chemical fiber industry increased by 8.5% year-on-year, achieving a total profit of 27.73 billion yuan, an increase of 11.21%. A large part of the profit growth was due to the sharp drop in crude oil prices in the second half of the year. Although synthetic fiber prices also fell sharply, the decline in product prices was smaller than that of raw materials, so the profit margins of chemical fiber products expanded. In terms of industries, the polyester industry achieved a total profit of 10.409 billion yuan, a year-on-year increase of 10.64%, and the growth rate increased by 13.71 percentage points. The efficiency of the spandex industry continues to grow, but the growth rate has dropped significantly. The profitable variety of man-made fibers is mainly acetate fiber, while the viscose fiber industry is more difficult to operate.
In 2014, due to high international silk fabric inventories and reduced market demand, the transaction volume of chemical fiber silk fabrics declined. At the same time, domestic sales prices of my country’s chemical fiber filament fabrics continued to be sluggish last year. Since market prices are generally low, it has been difficult for companies to adjust prices to attract the market. In addition, demand is very limited, prices can only hover in a lower range, and corporate profit margins are narrow.
Industry insiders said that at present, the investment boom in the chemical fiber industry is gradually fading, and some project construction plans have been postponed or canceled. Although some projects have been completed, full production capacity has not been released according to market conditions. Preliminary statistics show that the new polyester production capacity in 2014 was 3.48 million tons, accounting for only half of the projects planned to be put into production at the beginning of the year. Most of the projects planned to be put into production in 2015 were postponed from 2014, with a total polyester production capacity of about 3.4 million tons. Based on the actual situation, it is estimated that only about 50% of the production capacity can actually reach production. Enterprises are operating more rationally in production and operation, controlling market loads, accepting and adapting to the new normal, and further deepening structural adjustments.
At the same time, fluctuations in international crude oil prices also directly affect the subsequent trends of related chemical fiber varieties. In addition, affected by the adjustment of domestic cotton policies, domestic cotton prices have fallen sharply, and the price difference with polyester staple fiber and viscose staple fiber has continued to narrow, which will have a certain impact on the market consumption of related chemical fiber varieties. However, the rise in cotton prices will be a major benefit to the improvement of the overall competitiveness of my country’s textile industry, and the chemical fiber industry will also benefit from the overall progress of the textile industry.
Industry insiders predict that the overall performance of my country’s chemical fiber industry in 2015 will be slightly better than that in 2014. The key tasks of the chemical fiber industry are to resolve production capacity pressure, optimize inventory, control increment, and expand applications. In addition, the industry must vigorously promote advanced energy-saving and emission-reduction technologies, accelerate mergers and reorganizations, and accelerate the exit of backward production capacity.
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