Polyurethane is widely used in various industries in my country. Its wear resistance, high strength and other properties make it widely used in the fields of medical and health, textile, light industry, construction, and transportation. Since the downstream of the polyurethane industry has penetrated into all areas of the national economy, it is closely linked to fluctuations in the economic cycle.
Generally speaking, products that can be made from polyurethane materials include foam and non-foam. Among them, foam products have high strength, low density, shock and noise reduction, and no thermal conductivity. Non-foam products are mainly used to prepare synthetic leather, elastic fibers, coatings, etc. In view of the different properties of polyurethane products, they are used in cold storage construction, building insulation, mattress making, shoemaking, textile and other fields.
In recent years, the polyurethane industry has achieved great development in my country. Both production and application have formed a certain scale. my country has basically become the leader in the development of the global polyurethane industry. Main motivation. Moreover, with the emergence of demand for building energy-saving products, the increasing application of medical materials, and the development of the leisure and entertainment (leisure equipment, etc.) market, there is still a lot of room for the development of my country’s polyurethane industry, and industrial investment can be said to be at the right time.
According to statistics from the “China Polyurethane Industry Report” of the Qianzhan Industry Research Institute, my country’s polyurethane production is currently expanding. From the perspective of downstream product structure, it is mainly concentrated in soft foam and hard foam. As well as the sectors of synthetic leather slurry.
Judging from the current development of all aspects of my country’s polyurethane industry chain, raw materials such as upstream TDI and propylene oxide have relatively high technical barriers, so their production capacity is relatively concentrated. Downstream spandex manufacturers Not many, and polyether does not require a high technical level, so there are many producers and there is a risk of overcapacity.
Judging from the profitability of the industry, the profitability of each link is relatively ideal, especially for TDI and MDI, whose gross profit margins of over 20% are extremely impressive. The gross profit margin level of spandex manufacturers is generally around 25%.
However, as investors have entered the market one after another, in order to reduce duplication of construction and increase industry concentration, industry access conditions have been repeatedly raised. Taking MDI as an example, only those with a production capacity of 300,000 tons are eligible to set up a factory.
At present, the polyurethane industry has become a capital-intensive industry. The investment required to produce one ton of spandex has exceeded 40,000 yuan, and BDO and MDI are also around 20,000 yuan. Therefore, investors who want to invest in the field of polyurethane need to fully conduct market research and project feasibility assessment.
Although the barriers to entry in many aspects of the polyurethane industry are high, due to good profitability and the industry has now entered an upward cycle, overall, the future is bright For the better.
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