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Acrylic acid is mainly used in the production of acrylic esters, accounting for about 80% of total acrylic acid consumption. China is the country with the fastest growth rate of acrylate consumption in the world. In 2006, the output of acrylates reached 611,000 tons, and the consumption reached 840,000 tons, accounting for about 23% of the world's total consumption. The market size exceeded 5.4 billion yuan. Although the acrylic acid industry in China has developed rapidly, it is still unable to meet the rapidly growing market demand. From 1996 to 2001, the domestic self-supply rate of acrylic acid was decreasing year by year, from 80% in 1996 to 44% in 2001. The corresponding increase from 20% to 56%.
As the prices of acrylic acid and esters continue to rise, domestic companies are accelerating the process of building new expansion devices. Formosa Plastics (Ningbo) Co., Ltd.'s 160,000-ton/year acrylic acid and 230,000-ton/year acrylate projects were put into production in October 2006; Mitsubishi Chemical Corporation transferred its acrylic and ester technologies to Shenyang Blue Paraffin's Shenyang Paraffin Chemical Company. The construction of an acrylic acid and ester unit, 80,000 tons/year of acrylic acid and 130,000 tons/year of acrylate, was also completed at the end of October 2006. By the end of 2006, China's acrylic acid production capacity reached 720,000 tons/year, and its acrylate production capacity reached 780,000 tons/year. With the start of production of these new devices, the degree of import dependency also began to decline, from 42.3% in 2002 to 9.6% in 2006.
Driven by the strong demand in the four major sectors of construction, textiles, packaging and sanitary materials, China's acrylate market will continue to develop rapidly in the future. It is expected that domestic demand in 2010 will reach 1.16 million tons, accounting for approximately 31.4% of the world's total consumption. 2015 The annual demand will reach 1.7 million tons, at which time China will become a veritable acrylate consumer. Under this circumstance, the expansion of the domestic acrylic acid and ester industries has not diminished. The Sinochem Group's Acrylic Acid and Ester Project was laid in Guangrao County, Shandong Province in mid-July of 2006. The project has a design capacity of 80,000 tons/year of acrylic acid. , 120,000 tons/year acrylate, the total design scale of the first phase of the construction started was 40,000 tons/year acrylic acid and 60,000 tons/year butyl acrylate; Singapore Sun Vic Chemical Company expanded its acrylic acid in Xiangshui, Jiangsu Province. The ester plant, which is planned to be completed in the fourth quarter of this year, will expand its acrylic acid and acrylate production capacity to 205,000 tons/year and 250,000 tons/year respectively; BASF will build more than 30,000 tons/year in Shanghai. The polyacrylate polymer plant, scheduled to be put into production in the first quarter of 2008, will be supplied to the Chinese market. In addition, there are 80,000 to 100,000 tons/year of acrylic acid and ester units planned to be constructed in Hebei Zhangzhou, Huizhou, Guangdong and Maoming, Sichuan Zhangzhou and Shenyang, Liaoning. The next few years will be the peak period for the construction of acrylic acid and ester devices in China. It is expected that by 2010, China's acrylic acid production capacity will reach 900,000 tons and the acrylate production capacity will reach 980,000 tons.
Due to the completion of some construction projects, the supply and demand of acrylic acid and esters in China are basically balanced in 2006; however, with the development of China's economy, the demand for acrylic acid and esters will increase further. By 2010, it is expected that the gap between supply and demand will increase. Therefore, in the long run, China's acrylic acid and ester products still have a lot of room for development.
At present, China has become the world's major consumer of acrylic acid and esters. In the past, the gap between product supply and demand has been very large. However, with the launch of new projects in China, the degree of foreign dependence has recently shown a downward trend. In the next few years, it will still be the peak period for the construction of acrylic acid and ester devices, and the industry's energy expansion will continue unabated.