Aniline is a “professional” grade product in chemical products, and overcapacity is particularly serious. For a long time, the aniline market fluctuated around the cost line. Most industry insiders believe that if hydrogen has a better place, aniline products will be phased out. In the future, aniline will have no new capacity, and I never imagined that with the increase of MDI equipment load, the aniline industry will have new capacity!
In 2018, China's aniline production capacity was about 3.525 million tons. This year, Yantai Wanhua added 180,000 tons/year of aniline equipment, which caused China's domestic aniline production capacity to increase from 3.345 million tons in 2017 to 3.525 million tons, an increase of 5.38%. On December 9, 2015, the Yanhuan Recycling Industrial Park project of Jiangsu Fuqiang New Materials Co., Ltd., which was newly invested by Jinling Group, was not put into production as scheduled in 2018 due to the “coal to gas” policy. The market was informed that the project is currently under construction and the project is postponed until the end of 2019. It is estimated that China's aniline production capacity will increase by 100,000 to 3.625 million tons in 2019. In 2018, Fujian Cornell Polyurethane Co., Ltd., jointly established by Cornell Chemical Co., Ltd., Fujian Chemical Industry Group Co., Ltd. and Fuzhou State-owned Assets Investment Development Co., Ltd., plans to build an MDI project in Fuqing City, Fujian Province. A 400,000 tons/year MDI unit, a 55,000 tons/year formaldehyde unit, and a 100,000 tons/year ODC hydrochloric acid electrolysis unit. The second phase will support the construction of 480,000 tons/year of nitrobenzene, 360,000 tons/year of aniline and 270,000 tons/year of nitric acid. The first phase of the project is planned to start in October 2019, and the second phase of the plant is planned to be in 2020. Construction began, and driving in December 2021. At the same time, Wanhua said at the investment meeting in March this year that in the next three years, the Yantai Wanhua MDI plant will be upgraded from 600,000 tons to 1.1 million tons through the technical transformation, and the Ningbo MDI plant will be upgraded from 1.2 million tons. To 1.5 million tons. Recently, Wanhua Yantai MDI plant expanded to 1.1 million tons of environmental impact assessment, the second public notice shows that a new 360,000 tons of nitric acid plant, two sets of nitrobenzene plant, respectively, 480,000 tons, 240,000 tons; two sets of aniline The capacity of the plant is 360,000 tons and 180,000 tons respectively. By 2021, the domestic aniline plant capacity will increase to 4.525 million tons.
In the next three years, China's aniline production capacity will increase significantly, and there will be a certain time difference between the downstream MDI production capacity and the new aniline production capacity. Therefore, the growth of demand and supply growth will not be less than the impact on the aniline market.