At present, the total capacity of PVDF in China is only 71000 tons, of which the capacity of milk source Guangdonghectechnologyholdingco.Ltd(600673) fluorine is 0.5 tons, but the total capacity of the company is expected to rise sharply in the future.
On December 28, the leader Shanghai Putailai New Energy Technology Co.Ltd(603659) in the negative pole industry of power battery announced that in order to further meet the continuous product demand of downstream lithium-ion battery customers, promote the production capacity construction of Guangdonghectechnologyholdingco.Ltd(600673) fluororesin as soon as possible, accelerate the production capacity layout of PVDF, and build a perfect coating material and binder supply chain system, the company plans to further expand the production capacity construction plan on the basis of the original plan, It is proposed to build 20000 t / a PVDF and 45000 T / a R142b projects through Guangdonghectechnologyholdingco.Ltd(600673) fluororesin, with a total investment of about 1.4 billion yuan.
In May this year, Shanghai Putailai New Energy Technology Co.Ltd(603659) has announced to promote the business development and industrial planning of Guangdonghectechnologyholdingco.Ltd(600673) fluororesin and ensure that Guangdonghectechnologyholdingco.Ltd(600673) fluororesin starts the 10000 t / a PVDF + 27000 T / a R142b project.
In other words, this Shanghai Putailai New Energy Technology Co.Ltd(603659) is equivalent to adding another 10000 tons of PVDF capacity on the original basis.
According to the plan, 10000 t / a PVDF and 18000 T / a R142b projects with the above capacity will be built in phase I, with a construction period of 2 years. It is expected to be completed and put into operation before the end of 2023; Phase II construction of 10000 t / a PVDF and 27000 T / a R142b projects is expected to be completed and put into operation before the end of 2024.
If the 20000 tons of PVDF capacity is put into operation as scheduled, Guangdonghectechnologyholdingco.Ltd(600673) fluorine PVDF total capacity will directly rise to 25000 tons, and replace Changshu akoma as the largest production enterprise in China. At present, the PVDF capacity of the latter is 14500 tons.
At that time, the new PVDF capacity will also have synergy with Shanghai Putailai New Energy Technology Co.Ltd(603659) existing businesses.
"The investment and construction of PVDF production capacity will help the company further improve the industrial closed loop in base film, coating materials, adhesives, coating equipment and coating processing, and form an effective industrial synergy with the company's coating processing and adhesive business. As the main raw material of PVDF, R142b will be conducive to the construction of a perfect process and raw material layout of Guangdonghectechnologyholdingco.Ltd(600673) fluororesin." Shanghai Putailai New Energy Technology Co.Ltd(603659) announced.
Although the new capacity of 20000 tons is considerable, as the phase I project will be put into operation by the end of 2023, it can not have a significant impact on the supply and price of PVDF in the short term.
On the supply side, in 2022, there will be only Lecron Industrial Development Group Co.Ltd(300343) new projects put into operation in the PVDF industry. Among them, 3000 tons in phase I has been announced to enter the trial production and operation stage at the end of August this year, and 5000 tons in phase II is planned to be put into operation from June to July next year.
A more optimistic estimate is that the company may bring an increase of about 5000 tons next year.
Correspondingly, there is a huge demand for downstream lithium battery binder and diaphragm coating. Under the background of no significant increase at the supply side, the high PVDF price cannot be affected in the medium and short term.
Since December, the price of PVDF used in coatings and photovoltaic fields has dropped, but the price of lithium grade PVDF continues to remain at a high level of 445000 yuan / ton.
If estimated at this price, Shanghai Putailai New Energy Technology Co.Ltd(603659) the proposed 20000 ton PVDF production capacity will reach 8.9 billion yuan. You know, the revenue of Listed Companies in 2020 is only 5.281 billion yuan.
In addition, the above 20000 ton PVDF capacity is an "integrated project", including the supporting 45000 ton / year R142b project, which is conducive to the reduction of its overall production cost.
The 21st hard core investment research in mid December pointed out that the production cost of R142b in an integrated enterprise is only 36000 yuan / ton. After adding labor, depreciation and other costs, the production cost of PVDF will not exceed 50000 yuan per ton.
At present, the market price of R142b has risen to 185000-19000 yuan / ton, and 1.8 tons of R142b are required for each ton of PVDF. For this reason, the cost difference between outsourcing R142b and self-produced R142b PVDF manufacturers is very huge.
At present, it is uncertain whether the new capacity of Shanghai Putailai New Energy Technology Co.Ltd(603659) PVDF will be reserved for its own use or partially sold.
(21st Century Business Herald)
