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2018-2019 China VAC Market Annual Report

Annual Report Overview

Highlights

In 2018, it is conservatively estimated that China’s VAC average prices will increase by over 30% from last year. In addition to the strong support from cost side, unit maintenance and domestic tight supply caused by intensive export were the key factors to boost VAC prices. In H1, 2018, the export volume of VAC rose by 9.94% Y-O-Y, while the output of VAC declined by 6.37% Y-O-Y. Curbed by the high cost and other factors, many downstream enterprises carried out “Baojia” policy (It means that consumers buy at posted prices, and discounts will be made at the end of the month when settlement prices are issued. It indicates a bearish market trend.), and the rigid demand for VAC weakened.

The capacity is highly concentrated in VAC industry, but the structural overcapacity exists. Many sets of EVA units are scheduled to be put into operation in 2019, which will increase the demand for ethylene-based VAC substantially. However, the capacity of ethylene-based VAC is only 480 kt/a in China, and some products are mainly for self-use. Thus, the supply cannot satisfy the rapidly increasing demand. Will the newly added capacity of ethylene-based VAC be built in the future? Will the photovoltaic policy in EVA industry change the VAC demand in Asia and impact China’s VAC export market? Will glacial acetic acid prices remain at highs and impose cost pressure on VAC producers?

SCI has been engaged in commodity research for 15 years. Based on the originated data collected by SCI and combined with domestic macro policies and industry characteristics, this report reviews the overall VAC market in 2018 and analyses the supply-demand pattern, profit changes, market sentiment, etc., and also forecasts the future development of VAC market by a combination of graphics and texts, which is aimed at helping market participants grasp the current situation and the future trend.

Report value:

1. The report will summarize China’s VAC industry status and analyze the competitiveness of substitute products.

2. The report provides the analysis of competitiveness of VAC with different manufacturing techniques, so as to help market participants grasp the current situation and the future development of VAC market.

3. The report will analyze the influence of photovoltaic policy on the VAC demand in Asia, so as to help traders grasp the factors affecting VAC export.

4. The report will analyze and forecast the future development of VAC from multiple perspectives.

Contents

Part 1 VAC Market Overview      

Part 2 2014-2018 VAC Market Supply-Demand Balance Analysis  

Part 3 2018 China VAC Supply Pattern Analysis        

3.1 2014-2018 VAC Capacity Analysis

3.1.1 2014-2018 Global VAC Capacity Analysis

3.1.2 2014-2018 China VAC Capacity Analysis  

3.2 2014-2018 VAC Output Comparison    

3.2.1 2018 Ethylene-Based VAC Output Statistics   

3.2.2 2018 Calcium Carbide-Based VAC Output Statistics      

3.2.3 2018 Natural Gas-Based VAC Output Statistics      

3.2.4 2016-2018 China VAC Enterprises Output Statistics       

3.3 2014-2018 VAC Industry Operating Rate Comparison       

3.3.1 Drivers of VAC Industry Operating Rate 

3.3.2 2018 VAC Unit Operating Rate Comparison by Technology 

3.4 2018 China Main VAC Unit Maintenance Statistics   

3.5 Imported VAC Supply Pattern      

3.5.1 2014-2018 VAC Import Volume Analysis

3.5.2 2016-2018 VAC Import Volume Analysis

3.6 VAC Logistics Industry Analysis   

3.7 VAC Inventory and Price Comparison

3.8 2019 China VAC Capacity and Output Forecast  

Part 4 2018 VAC Market Demand Pattern Analysis 

4.1 Demand Volume Change Tendency and Reason Analysis        

4.2 2018 VAC Demand Structure Analysis

4.2.1 2018 Global VAC Demand Structure Analysis

4.2.2 2018 China VAC Demand Structure Analysis by Industry      

4.2.3 2018 China VAC Demand Structure Analysis by Region

4.3 VAC Downstream Customer Scale and Demand Change Analysis  

4.3.1 2018 China VAC Industry Customer Scale and Demand Change Analysis  

4.3.2 2018 China PVAC Emulsion Customer Scale and Demand Change Analysis       

4.3.3 2018 China EVA Resin Customer Scale and Demand Change Analysis        

4.3.4 2018 China VAE Emulsion Customer Scale and Demand Change Analysis 

4.3.5 2018 China Acrylic Fibers Customer Scale and Demand Change Analysis  

4.4 VAC Downstream Industry Consumption Forecast   

4.5 VAC Export Pattern Analysis

4.5.1 2014-2018 VAC Export Statistics Analysis        

4.5.2 2016-2018 VAC Export Analysis

4.6 2019 VAC Consumption Volume Forecast  

4.7 VAC Downstream Customer Key Purchasing Factor Analysis  

4.8 VAC Application Slack Season and Peak Season Analysis

Part 5 VAC Price Trend Analysis 

5.1 China VAC Market Price Trend Analysis     

5.2 Asia VAC Price Trend Analysis      

5.3 Glacial Acetic Acid and VAC Spot Price Co-movement Analysis     

5.4 Calcium Carbide and VAC Spot Price Co-movement

5.5 Ethylene and VAC Spot Price Co-movement Analysis      

Part 6 2019 VAC Market Forecast Analysis        

6.1 Macro Environment Interpretation and Influence   

6.2 Influence of Future Policies on VAC Industry    

6.3 2019-2023 China VAC Supply Pattern Forecast  

6.4 VAC Market Competition Analysis      

6.4.1 Imported VAC Competitiveness Analysis       

6.4.2 Exported VAC Competitiveness Analysis        

6.5 VAC Value Chain Analysis and Forecast      

6.6 China VAC Production Technologies Comparison

6.6.1 2018 Ethylene-Based VAC Gross Profit Analysis

6.6.2 2018 Calcium Carbide-Based VAC Gross Profit Analysis

6.6.3 2018 Natural Gas-Based VAC Gross Profit Analysis

6.6.4 2018 VAC Production Cost Comparative Analysis by Production Technology

6.6.5 Production Technology Forecast for Newly Added Units    

6.7 Related Products Price Co-movement Influence Forecast

6.8 Main Influencing Drivers on 2019 VAC Prices

Appendix 1 VAC Industry Highlights

Appendix 2 2017-2018 VAC Industry Events

Appendix 3 Methodology and Related Definition

3.1 Data Statistics and Calculation Methodology

3.2 Statement of Forecast Model      

3.3 Definition and Abbreviation

Appendix 4 Distributor List

Appendix 5 Tables, Charts, Enterprise Names and Related Reports    

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