PVDF increasingly "popular" with companies as chemical price volatility eases

In the past two years, chemical prices are in a very obvious upward cycle, but it is expected that by 2022, prices will need time to adjust and digest, marginal changes in demand will be relatively limited, and there will be downward pressure on the prices of some cyclical products. Thus, in 2022, the strategic direction is mainly focused on the segments with barriers and growth. It is recommended to focus on the accumulation of technology, customer acceleration breakthroughs in the field of high-end material localization replacement, as well as "new" field development driven by the upstream materials, such as PVDF, EVA, etc..

Policy-driven change in traditional industries, "new" areas into an important driver of the supply chain

Policy-driven change in traditional industries, in the past two years, the price trend of domestic chemical products basically follow the global chemical product price changes in the general direction, since April 2020, the price of domestic chemical products basically showed an upward trend, the upward range has been extended to October 2021, the impact of the round of the epidemic, supply and demand showed an obvious release mismatch, coupled with the segmentation of supply, transport matching difficulties to enhance The price of chemical products shows a significant upward trend.

Comprehensive analysis of the past two years of chemical product price trends in the phase, the core drivers of the overall industry high boom are but two: the rapid release of demand or supply-side control of the formation of supply and demand mismatch. In the basic industry chain supply relatively mature state, the supply-side changes will be driven more by policy, whether it is environmental protection, safety governance, energy structure governance, the essence is more supply-side capacity clearing, drive the product presents structural optimization pattern, for the traditional industry to give new life.

In the basic industry chain supply relatively mature state, the supply-side changes will be driven more by policy, whether it is environmental protection, safety governance, energy structure governance, the essence is more supply-side capacity clearing, drive products to show structural optimization pattern, for the traditional industry to give new life.

The rapid development of new energy batteries, drive PVDF products into the fast lane

PVDF: lithium battery demand to enhance the product supply and demand pattern significantly improved parameters and other adjustments, to meet the downstream manufacturers certification and mature supply of relatively few enterprises, and thus in PVDF (polyvinylidene fluoride) downstream more applications in the field of coatings, injection molding and lithium batteries, but different applications of product quality requirements differ significantly, product prices also have more obvious differences, and as lithium batteries Binder, for safety requirements are more stringent, generally need to production process, product purity, production product sales process, the price is significantly higher than other categories of products.

PVDF domestic enterprises can effectively supply more limited, the new production capacity cycle is long

Generally speaking, PVDF production capacity construction cycle in 1.5 ~ 2 years, plus the environmental assessment, energy assessment and other filing time, production line commissioning cycle, customer certification cycle, the real production capacity is expected to take more than 2 years, and the early industry demand is relatively stable, the domestic plan to expand the PVDF enterprise is relatively limited, in 2021 ~ 2022 in the first half of the effective release of capacity is very little. It is expected that the technical reform of enterprises to expand production capacity.

PVDF as the cathode binder, there is no alternative products, will lead to rapid growth in product demand

In the field of lithium batteries, PVDF can be used as the cathode binder and diaphragm coating, and PVDF as the cathode binder can be bonded conductive coating and aluminum foil, there is no substitute product, so along with the downstream lithium battery demand, will drive PVDF as the cathode binder product demand to grow simultaneously. Compared with ternary materials, lithium iron phosphate molecular weight is greater, the need for more PVDF amount.

PVDF benefit from the downstream power battery cathode binder demand, PVDF overall supply tight state, the new production capacity cycle is relatively long, different applications of the product production process control has differences, different manufacturers of customer base is different, the conversion space is more limited, so along with the lithium downstream demand, PVDF will continue to maintain a high boom operation in the future.

Policy to promote the installed capacity of photovoltaic continued to improve, pay attention to the material supply chain with barriers

From China's EVA resin downstream consumption structure, with the rapid development of the photovoltaic industry in recent years, the demand for upstream EVA photovoltaic material has grown significantly, the apparent consumption of EVA resin in China in 2020 is 1.864 million tons, of which the consumption of photovoltaic material is about 630,000 tons, accounting for 34%, has surpassed the foam material has become the first major consumer demand.