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Inquire NowRead: 418 Time:35months ago Source:
entered the fourth quarter, the decline of the epoxy resin industry chain is obvious to all. First, the price of raw materials has fallen, and more importantly, the downstream demand has exerted its strength. When orders are not received smoothly, the price of epoxy resin has followed the price of raw materials, and the market shows no signs of recovery.
the epoxy resin several major downstream: coatings, adhesives, electronic and electrical and composite materials, all over again, it is difficult to find the epoxy resin industry to bring support to the good.
Coating industry
the paint industry with the largest proportion of, so far, no authoritative organization has announced the national paint output from January to November 2021. However, judging from the performance of leading enterprises in the third quarter, the paint industry has not had a good time this year, and its profits are mostly in a downward state. The situation of leading enterprises and listed companies is more representative, they are still struggling, not to mention those little-known small and medium-sized enterprises. Whether it is the rise in raw material prices, the weakening of downstream demand, or floods, power restrictions, production restrictions, road closures, energy consumption double control brought about by the industry operating rate reduction, make the operation of paint companies become very difficult.
Composite industry
In the composite material field, the fourth quarter is more likely to bring demand growth to the epoxy resin industry is the offshore wind power industry, 2021 is the last year of offshore wind power rush installation, last year onshore wind power rush installation, really let the epoxy resin industry fire, and soaring also polyether amine industry.
, China's total offshore wind power installed capacity reached 10.48 GW in October this year, although there was a year-on-year increase, but compared with last year's more than 70 GW of wind power installed capacity, the volume is still too small, the support for the raw material industry is not strong enough.
Electronic and electrical industry
copper clad laminate is the most important application of epoxy resin in the electronic and electrical industry. In 2020, the copper clad laminate industry will consume more than 200,000 tons of epoxy resin. The copper-clad laminate industry has a high concentration, and the production capacity is mainly concentrated in more than ten leading listed companies. The operating conditions of copper-clad laminate companies in the fourth quarter have not yet been released, but the direct downstream PCB industry can learn information.
PCB leading enterprise Pengding Holdings announced on December 7 that the company's combined operating income in November 2021 was RMB 4.222 billion, a decrease of 9.81% from the combined operating income in the same period last year. At the same time, the same decline as Pengding Holdings also included the entire PCB (printed circuit board) sector. According to Wind data, the printed circuit board index fell by 4.57% in only 5 trading days in December.
End users have not increased. In addition, the epoxy resin industry has experienced limited production and maintenance. At present, the operating load remains high, the market supply is sufficient, and the serious contradiction between supply and demand is the fundamental reason for the continuous decline in epoxy resin prices.
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