It’s settled! National standard degradable plastics was implemented in June, and many enterprises have put into production

On February 23, Ministry of ecology and environment spokesman Liu Youbin said that based on its own responsibilities, the Ministry of ecology and environment has actively strengthened the treatment of plastic pollution, actively participated in and contributed to strengthening the control of transboundary movement of plastic waste under the existing mechanism of the Basel Convention, and promoted the conference of the parties to adopt the amendment to the Basel Convention on plastic waste, Improve the level of environmentally sound management of plastic waste.

It is worth noting that, previously, the State Administration of market supervision formulated and issued the national standard on degradability and labeling requirements of biodegradable plastics and products, which will be officially implemented from June 1, 2022. Degradable plastics may usher in opportunities

degradable plastics are still in the blue ocean market

After the introduction of the “plastic ban order” in 2020, the market of degradable plastics as an alternative to traditional plastics has increased significantly. Industry insiders predict that during the 14th Five Year Plan period, the compound annual growth rate of degradable plastics market will be 11.3%, and the revenue scale of more than 50 billion yuan will be realized by 2025.

The Research Report of Capital Securities believes that the degradable plastics company has entered the performance cashing period. According to estimates, at present, the total effective production capacity of degradable plastics in China is only about 250000 tons. By 2025, the corresponding degradable plastics market has a huge space gap, which is a typical blue ocean market.

The broker said that under extremely conservative assumptions, is expected to reach 80116154 million tons of market demand in the next five years. With the average price of degradable plastics at 20000 yuan / ton, the market demand will reach more than 66 billion yuan in 2025. with the strengthening of policies and the continuous expansion of the application of degradable plastics, this market demand will be released to a greater extent

there are 3 billion companies in the field of degradable plastics

On February 22, a fixed increase announcement disclosed by Hunan Yussen Energy Technology Co.Ltd(002986) showed that the company plans to raise no more than 3 billion yuan through non-public offering of shares, which will be used for phase I of light hydrocarbon comprehensive utilization project and supplementary working capital respectively. It should be noted that the main products of the raised investment project are important raw materials or direct components of degradable plastics.

Specifically, Hunan Yussen Energy Technology Co.Ltd(002986) plans to invest 2.7 billion yuan in phase I of light hydrocarbon comprehensive utilization project, which is implemented in Huizhou new material industrial park. The company pointed out that the main products of the “light hydrocarbon comprehensive utilization project phase I” raised and invested project in this issuance are important raw materials or direct components of degradable plastics. After the completion of the project, it will provide 147600 T / a dimethyl succinate (DMS), 34200 T / a 1,4-butanediol (BDO), 46000 T / a polytetrahydrofuran (PTMEG) and 60000 T / a polybutylene succinate (PBS) new product capacity for the company, and promote the rapid development of the company’s new chemical material business, Further realize the strategic transformation of the company from a leading enterprise of petrochemical products to a comprehensive enterprise of petrochemical products and new chemical materials, so as to improve the company’s product structure, expand the company’s development space, enhance the company’s profitability and consolidate the company’s leading position in the industry.

According to Huaxi Securities Co.Ltd(002926) , at present, the main raw materials of mainstream degradable plastics are pla (polylactic acid) and PBAT (polyterephthalic acid butanediol adipate). PLA has high technical barriers, and companies with core technologies will fully benefit from the dividends brought by demand growth; The existing capacity of PBAT is small, but it is expected that the new annual capacity will exceed 7 million tons in the future. Industrial supporting facilities and costs are the core competitiveness of the enterprise.

Huatai Securities Co.Ltd(601688) believes that there is a broad alternative space for degradable plastics in China, and PBAT / PLA is the main variety. According to the calculation, taking the data of 2018 as an example, the consumption of disposable plastics in the fields of lunch boxes and plastic bags in China reaches 5.945 million tons. Assuming that is calculated at the substitution ratio of 30%, the consumption of degradable plastics is close to 1.8 million tons. from the perspective of technology maturity and cost performance, PBAT / PLA are the main raw materials of soft (mostly used for plastic bags) / hard (mostly used for lunch boxes, etc.) products, and starch based plastics are mainly used for compounding. Compared with ordinary PE / PP / PS plastics, the price of PBAT / PLA is about 2-4 times, so the demand mainly depends on policy promotion.

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