Industry News
Supply growth MMA exports maintain a stable and upward trend
In 2023, the MMA industry's production capacity increased by 305000 tons, and the regional supply-demand relationship intensified
According to monitoring statistics, the compound growth rate of MMA production capacity in China from 2019 to 2023 was 18.03%. In 2023, CNOOC Fudao (Hainan) produced 70000 tons of MMA units, Jihua (Jieyang) produced 50000 tons, Liaoning Jinfa produced 100000 tons, and Jiangsu Sirbang (Phase IV) produced 85000 tons of MMA units. A total of 305000 tons of MMA production capacity were added this year.
From the changes in the regional distribution of MMA in China from 2019 to 2023, it can be seen that the East China and North China regions have always been the two main production areas of MMA in China, with the fastest growth in production capacity. In 2023, MMA added 305000 tons of production capacity, breaking the long-term stable situation of production capacity in Northeast and South China, and upgrading the regional supply and demand relationship.
MMA Downstream Consumption Boosts ACR Industry Growth Most Significantly
From the perspective of downstream consumption structure in the MMA industry, PMMA is still a product with high demand, with a slight increase in usage in 2023 but a slight decrease in proportion, reaching 57%. The ACR industry has seen a significant increase in the proportion of downstream consumption in MMA, from 14% to 21.5%, mainly due to the expansion of some enterprises. The acrylic resin and lotion industry will grow from 14% in 2022 to 17.5% in 2023, and the overall consumption will grow steadily.
2024 Supply growth point: MMA plans to increase production capacity by 300000 tons
In 2024, the MMA industry plans to increase production capacity by 300000 tons, distributed in the Southwest, Shandong, and Northeast regions. At present, we are paying attention to the production dynamics of Chongqing Yixiang and Panjin Sanli in the second and third quarters, and Yingke Chemical is also following up on the production time.
PMMA is the largest downstream industry of MMA. In 2024, PMMA industries such as Shandong Qiheng's 140000 ton plant and Chongqing Shuangxiang's 150000 ton PMMA particle plant are planned to be put into operation in the first quarter. The Xinpu Chemical MS plant has been put into trial operation in January. The ACR industry expansion plan still exists, and the demand for MMA in 2024 continues to increase compared to 2023. In addition, acrylic resin and lotion still have new capacity, and the demand for MMA keeps growing. Overall, it is expected that the main downstream consumption will increase to over 1.2 million tons in 2024.
With the growth of supply, in addition to meeting the needs of domestic trade, exports will also maintain a stable and upward trend. Due to factors such as the domestic and foreign trade environment and export arbitrage space, the growth rate of export volume needs to be considered.
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