In The Era Of High Capacity Expansion, Polyester Production May Exceed Ten Million Tons

    As of 2023, the domestic polyester production capacity has increased by over 8 million tons per year, far exceeding the same period in previous years. In the remaining time of the year, there are still plans to add 3 million tons of new production capacity per year, and the polyester industry may be put into production by the end of the year, exceeding 10 million tons. Over the past decade, the average new production capacity in the domestic polyester industry has been 3.678 million tons per year. In 2022, the largest new production capacity was added, at 5.615 million tons per year, which is lower than the new investment in the domestic polyester industry in the first half of this year (5.9 million tons per year added in the first half of this year).
    From the perspective of production products, polyester filament has always been the main production product in the domestic polyester industry, with an annual output of around 3 million tons, accounting for 50% -75% of domestic polyester production. After entering this year, due to the good demand and profit performance of polyester bottle chips in the early stage, the production volume of domestic polyester bottle chips has significantly increased. As of the current data, the new production capacity of polyester filament is over 4 million tons within the year, accounting for 48.9% of domestic polyester production. The new production capacity of polyester bottle chips is 3.3 million tons/year, accounting for 39.7%. However, there is still a plan for 2.1 million tons of polyester bottle chips to be put into production in the fourth quarter. Therefore, the total production capacity of polyester bottle chips for the year is expected to be 5.4 million tons, accounting for 47.7% of the total production capacity in China. The expected annual production capacity of polyester filament accounts for 41.1% of the total polyester production. In 2023, the new production capacity of the domestic polyester industry may exceed 10 million tons, reaching a historical high.