1. Industry development stage and Industry Overview
China has become the largest phenolic resin producer in the world. In recent years, China's phenolic resin industry has entered a period of stable growth. On the whole, the technical indicators of products produced by some leading enterprises in the industry can reach the international level, but most phenolic resin manufacturers still have a certain gap with foreign enterprises in terms of key process and quality stability. The supply of high-end products is still insufficient.
2.Industry production profile and main enterprise capacity
There are more than 200 phenolic resin manufacturers in China, most of which have a capacity of 1000 tons. Large scale domestic enterprises mainly include Jinan Shengquan, Shandong Yushi, Tongcheng new materials and other enterprises. The production capacity of foreign enterprises in China mainly includes Taier chemical, St. Lecter chemical, Suzhou Sumitomo and Panasonic electronic materials. At present, the production capacity of the top ten enterprises in the industry has reached a relatively high proportion, accounting for 66%.
Generally speaking, the low-end market entry threshold of phenolic resin industry is low, and there are many enterprises entering. There are a large number of small and medium-sized enterprises engaged in phenolic resin production and processing in China. A considerable number of enterprises have low technical level, insufficient investment in environmental protection, and serious homogenization of products. The market competition is becoming increasingly fierce. The market concentration of general phenolic resin industry is low and in a state of full competition.
Our partner factory Hangmo New Materials Group Co., Ltd has been a listed company in China since 2015. The company is committed to the research and development, production and sales of phenolic resin and its composite materials. The company has cooperated with Mcmaster university of Canada and zhejiang university, and has completed more than 20 research and development of new products and authorized more than 20 patents.The company has a perfect ISO9001 quality system, ISO14001 environmental management system and OHSAS18001 occupational health and safety management system. Its products are sold to over 30 provinces and cities in China, and exported to southeast Asia, Europe and other countries and regions.
3.Phenolic resin industry import and export
In recent years, China's phenolic resin import and export are basically balanced, the export volume maintains a relatively stable growth trend, and the import volume shows a slow decline trend. In 2017, China's phenolic resin export volume is higher than the import volume for the first time, becoming a net exporter, but the difference is small, and the overall balance of supply and demand is balanced.
However, from the perspective of the structure of import and export products, the import and export of phenolic resin still have great deficiencies. The phenolic resin exported by China is mainly low-end products, while the imported products are mainly high-end products. The average price gap between import and export products is significant, and the difference shows an expanding trend.
4.Industry market demand and its structure
In general, due to its excellent performance and low price, phenolic resin has become the basic raw material of many composite materials, and its application scale in the field of building decoration has also continued to expand, and the market demand of the industry has maintained a relatively stable growth trend.
The rapid development of domestic automobile, rail transit and other industries has also promoted the demand growth of high-end phenolic resin and its composites. China's phenolic resin consumption has maintained a stable growth trend, from 918200 tons in 2014 to 1355800 tons in 2019, with an average annual compound growth rate of 8.10%, higher than the GDP growth rate of the same period.
From the perspective of demand structure, the demand pattern of phenolic resin is basically stable. Wood processing and laminates are reduced due to the slow growth of the real estate market and formaldehyde safety. The proportion of grinding and friction materials and heat-resistant insulation materials has increased significantly.
5.Analysis of industry development prospect and trend
At present, phenolic resin has been used in many important fields of national economy, such as aviation, aerospace, shipping, rail transit, automobile, construction, integrated circuit and so on. From the perspective of the development prospect of the industry, with the continuous development of phenolic resin matrix composites and modified materials technology, it is expected that the demand of phenolic resin in China will maintain a relatively stable growth trend, especially with the continuous development of domestic automobile, aerospace, consumer electronics, rail transit and other high-end manufacturing industries, the demand of building energy saving field will continue to expand, and the demand of medium and high-end phenolic resin will continue to increase The demand will grow steadily and the demand structure will change gradually.
In the future, with the gradual growth of the demand of downstream industries and the development and growth of new application fields such as Internet of things, big data, artificial intelligence, 5g communication and automotive electronics, the demand for phenolic resin will continue to grow.
From the technical point of view, phenolic resin with its own excellent characteristics and modifiable space, promote domestic and foreign enterprises to research and develop high-performance, high value-added modified phenolic resin, phenolic resin industry on the whole toward the direction of refinement and functionalization, gradually forming a variety of small batch production pattern.
As the middle and high-end product market has certain characteristics of customized development, and has higher technical barriers and qualification barriers, the number of new enterprises entering the industry is small, and the supply continues to exceed the demand. Special high-end products mainly rely on imports to meet the demand. With the change of demand structure and the tightening of national environmental protection policies, small enterprises with excessive emissions, backward technology and limited production capacity in the industry will face elimination. The demand rate of general phenolic resin will continue to slow down.
Modified resin and high-end products in specific fields will be important products to enhance the competitiveness and profitability of enterprises. The market concentration of the industry will continue to improve. At the same time, with the rapid expansion of domestic large-scale enterprises, the production scale advantage in the field of general-purpose products will be transformed into cost advantage. It is expected that the concentration of China's phenolic resin industry will enter a period of rapid improvement in the next few years.