China has become the world's largest consumer of acrylic acid and its esters. In the past, there was a significant supply-demand gap in the domestic market. However, with the completion of new projects, the country's reliance on foreign imports has gradually declined. Over the next few years, China is expected to experience a peak period for the construction of acrylic acid and ester facilities, and the industry's expansion will continue at a rapid pace.
Acrylic acid is primarily used in the production of acrylic esters, which account for approximately 80% of total acrylic acid consumption. China is the fastest-growing market for acrylates globally. In 2006, the output of acrylates reached 611,000 tons, while consumption hit 840,000 tons, making up about 23% of global demand. The market size exceeded 5.4 billion yuan. Despite rapid growth, domestic production still struggles to meet rising demand. From 1996 to 2001, the self-sufficiency rate dropped from 80% to 44%, while import dependency increased from 20% to 56%.
Driven by strong demand from sectors such as construction, textiles, packaging, and sanitary products, the Chinese acrylate market is set for continued growth. It is projected that domestic demand will reach 1.16 million tons in 2010, accounting for roughly 31.4% of global consumption. By 2015, annual demand is expected to rise to 1.7 million tons, solidifying China's position as a major acrylate consumer.
With rising prices, domestic companies have accelerated the construction of new production facilities. For example, Shenyang Paraffin Chemical completed an 80,000-ton acrylic acid plant and a 130,000-ton acrylate facility by late October 2006. Similarly, Formosa Plastics (Ningbo) started operations on a 160,000-ton acrylic acid and 230,000-ton acrylate project around the same time. By the end of 2006, China’s acrylic acid capacity reached 720,000 tons, and acrylate capacity reached 780,000 tons. As these new projects came online, import dependency fell from 42.3% in 2002 to 9.6% in 2006.
Several other projects are currently under construction. Zhenghe Group launched an acrylic acid and ester project in Guangrao County, Shandong, in mid-July 2006, with a planned capacity of 80,000 tons of acrylic acid and 120,000 tons of acrylates. Singapore Sun Vic Chemical expanded its plant in Xiangshui, Jiangsu, with a planned completion in late 2006, increasing its acrylic acid and acrylate capacities to 205,000 and 250,000 tons respectively. BASF also plans to build a polyacrylate polymer plant in Shanghai, with a capacity of over 30,000 tons, scheduled to start operations in Q1 2008.
Currently, several new facilities are planned across China, including projects in Zhuozhou, Hebei; Huizhou and Maoming, Guangdong; Ganzhou, Sichuan; and Shenyang, Liaoning, with capacities ranging from 80,000 to 100,000 tons. The next few years will be a peak period for the development of acrylic acid and ester infrastructure. By 2010, it is expected that China’s acrylic acid production capacity will reach 900,000 tons, and acrylate capacity will reach 980,000 tons.
Although the supply and demand balance was achieved in 2006 due to new projects, the growing Chinese economy is expected to drive further demand. By 2010, the supply-demand gap may widen again. Therefore, in the long term, acrylic acid and ester products in China still have significant room for growth and development.
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