Ethyl Acetate (EA) Industry Market Depth Analysis Report Ethyl Acetate (EA) Industry Market Depth Analysis Report

1. Basic overview of industry products 1. Basic overview of industry products

Ethyl acetate (EA), chemical name ethyl acetate, is one of the most widely used general-purpose ester solvents in the field of fine chemicals in China. With its excellent solubility, moderate volatilization rate, low toxicity properties and food-grade compliance, it spans multiple scenarios such as industrial manufacturing, food flavors, pharmaceutical refining, and pesticide chemicals. The product can be adapted to varnish, enamel, photographic film, and adhesive production. At the same time, it can be used as an extraction solvent for drugs and food processing. It can also serve as a core raw material for pesticide herbicide medium solvents and fruit and alcohol flavors. It is a basic chemical product with rigid demand in the industrial chain. Ethyl acetate (EA), chemical name ethyl acetate, is one of the most widely used general-purpose ester solvents in the field of fine chemicals in China. With its excellent solubility, moderate volatilization rate, low toxicity properties and compliance with food grade adaptability, it spans multiple scenarios such as industrial manufacturing, food flavors, pharmaceutical refining, and pesticide chemicals. The product can be adapted to varnish, enamel, photographic film, and adhesive production. It can also be used as an extraction solvent for drugs and food processing, and can also be used as a core raw material for pesticide herbicide medium solvents and fruit and alcohol flavors. It is a basic chemical product with rigid demand in the industrial chain.

From the perspective of the global industrial production system, the mainstream synthesis process of ethyl acetate includes four major technical routes: acetate esterification method, acetaldehyde acetation method, ethanol dehydrogenation method, and acetic acid/ethylene addition method. Domestic industrial production technology is relatively concentrated, and only popularized. From the perspective of the global industrial production system, the mainstream synthesis process of ethyl acetate includes four major technical routes: acetate esterification method, acetaldehyde acetation method, ethanol dehydrogenation method, and acetic acid/ethylene addition method. Domestic industrial production technology is relatively concentrated, and only two processes are popularized: acetate esterification method, ethanol dehydrogenation acetation method, and ethanol dehydrogenation method . Among them, the production capacity of acetate esterification method accounts for more than 90%, which dominates the domestic industrial pattern. Different process routes directly determine the enterprise cost curve, impurity control level and product grade upper limit, and are also the source of differentiation for the core competitiveness of leading enterprises and small and medium-sized factories in the industry. The acetate esterification process is mature, the device threshold is low, and it is suitable for large-scale mass production, but there are shortcomings of serious equipment corrosion, many by-product impurities, and high environmental protection treatment costs; the ethanol dehydrogenation process is greener, with low impurity content and high product purity, but the raw material requirements are strict and the technical barriers are high, and it is mostly used for the production of high-end refined grade products. The two processes, of which the acetate esterification process accounts for more than 90% of the production capacity, dominate the domestic industrial structure. Different process routes directly determine the enterprise cost curve, impurity control level and product grade upper limit, and are also the source of differentiation for the core competitiveness of leading enterprises The acetate esterification process is mature, the device threshold is low, and it is suitable for large-scale mass production, but there are shortcomings such as serious equipment corrosion, many by-product impurities, and high environmental protection treatment costs. The ethanol dehydrogenation process is more green, with low impurity content and high product purity, but the raw material requirements are strict and the technical barriers are high. It is mostly used in the production of high-end refined products.

Compared with overseas mature process structures, there are no high-end green routes such as acetaldehyde condensation and ethylene addition in China, and the overall structural characteristics of "low-end production capacity clustering and high-end process shortage" are presented, which lays the core foreshadowing for the homogenization of the follow-up industry, overcapacity and low-price competition. Compared with overseas mature process structures, there are no high-end green routes such as acetaldehyde condensation and ethylene addition in China, and the overall structural characteristics of "low-end production capacity clustering and high-end process shortage" are presented, laying the core foreshadowing for the homogenization of the follow-up industry, overcapacity and low-price competition.

II. Capacity expansion cycle and domestic supply pattern evolution II. Capacity expansion cycle and domestic supply pattern evolution

The domestic ethyl acetate industry is a typical domestic ethyl acetate industry is a typical demand-driven extensive expansion track demand-driven extensive expansion track , 2006-2015 is the industry's production capacity explosive growth of the golden decade, with the rapid rise of the domestic architectural coatings, furniture manufacturing, packaging inks, adhesives industry, the market demand for rigid continued to increase, driving the industry to build and expand the equipment to be concentrated. Data show that in 2006, the total domestic production capacity of ethyl acetate was only 900,000 tons, climbed to 2.10 million tons in 2010, broke through 4.16 million tons in 2015, and the production capacity exceeded 4.6 times in ten years. From 2009 to 2015, the long-term high growth trend was maintained., 2006-2015 was the golden decade of explosive growth in the industry's production capacity. With the rapid rise of the domestic architectural coatings, furniture manufacturing, packaging inks and adhesives industries, the market demand for rigidity continued to increase, driving the industry to build and expand equipment. Data show that the total production capacity of ethyl acetate in China in 2006 was only 900,000 tons, climbed to 2.10 million tons in 2010, and exceeded 4.16 million tons in 2015. The production capacity exceeded 4.6 times in ten years. Maintain a high growth trend for a long time from 2009 to 2015.

After the high-speed expansion, China has become the world's largest producer of ethyl acetate in one fell swoop, with a total production capacity accounting for 65% of the world's total, forming an absolute scale advantage. However, it has also directly ended the industry's supply-in-short dividend cycle. After fully entering the high-speed expansion, China has become the world's largest producer of ethyl acetate in one fell swoop, with a total production capacity accounting for 65% of the world's total, forming an absolute scale advantage. However, it has also directly ended the industry's supply-in-short dividend cycle and fully entered the structural overcapacity stage.

From the perspective of regional supply pattern, domestic production capacity presents highly concentrated regional characteristics, and the industrial cluster effect is significant. East China is the core production capacity hinterland of the country, with a total production capacity of 2.64 million tons, accounting for 63.46% of the total national production capacity. Relying on the perfect chemical industry chain, port logistics advantages, and downstream paint and ink industry clusters, it has become the core hub of domestic production, trading and export; South China relies on the manufacturing advantages of the Pearl River Delta, with a production capacity of 1.025 million tons, accounting for 24.64%, mainly radiating the South China end point market and South East Asia export trade; North China, Southwest China, and Central China account for relatively low production capacity, and the rigid demand in the main service area is weak across regions. Overall, more than 88% of the country's production capacity is concentrated in East China and South China, and the regional supply and demand pattern is highly differentiated. From the perspective of the regional supply pattern, the domestic production capacity presents a highly concentrated regional feature, and the industrial cluster effect is significant. East China is the hinterland of the country's core production capacity, with a total production capacity of 2.64 million tons, accounting for 63.46% of the country's total production capacity. Relying on the perfect chemical industry chain, port logistics advantages, and downstream coatings and inks industry clusters, it has become a core hub for domestic production, trading, and export. Relying on the advantages of the Pearl River Delta manufacturing industry, South China has a production capacity of 1.025 million tons, accounting for 24.64%. It mainly radiates the South China end point market and South East Asia export trade. North China, Southwest China, and Central China have relatively low production capacity, and the rigid demand in the main service areas is weak Overall, more than 88% of the country's production capacity is concentrated in East China and South China, and the regional supply and demand pattern is highly differentiated.

From the perspective of the enterprise landscape, the industry presents a competition landscape of "head concentration, small and medium-sized dispersion, and extreme involution". In 2015, the industry leader was Guangdong Jiangmen Qianxin Chemical (including Taixing Jinjiang), with a total production capacity of 600,000 tons, accounting for 14.42% of the country's total production capacity. It has a large-scale cost advantage; Jiangsu Thorp ranked second with a production capacity of 500,000 tons, and is the core supplier in East China. The rest of the mainstream enterprises have a production capacity concentrated in the 100,000-300,000 ton range, with a large number, scattered production capacity, and serious product homogeneity. Small and medium-sized manufacturers basically do not have the pricing power and can only follow the market price fluctuations and sell in volume. The industry competition remains high. From the perspective of the enterprise landscape, the industry presents a competition landscape of "head concentration, small and medium-sized dispersion, and In 2015, the industry leader was Guangdong Jiangmen Qianxin Chemical (including Taixing Jinjiang), with a total production capacity of 600,000 tons, accounting for 14.42% of the country's total production capacity, with a large-scale cost advantage; Jiangsu Thorp ranked second with a production capacity of 500,000 tons, and was the core supplier in East China. The rest of the mainstream enterprises' production capacity is concentrated in the 100,000-300,000 ton range, with a large number, scattered production capacity and serious product homogeneity. Small and medium-sized manufacturers basically do not have the pricing power and can only follow the market price fluctuations and sell in volume. The industry competition remains high.

From the perspective of process distribution, more than 95% of domestic production capacity relies on acetate esterification method, only a few enterprises such as Jiangyin Baichuan and Shandong Haihua use ethanol dehydrogenation method, the problem of process structure simplification is prominent, the supply of high-end refined products is scarce, low-end general-purpose products are seriously oversupplied, and the structural mismatch problem is significant. From the perspective of process distribution, more than 95% of domestic production capacity relies on acetate esterification method, and only a few enterprises such as Jiangyin Baichuan and Shandong Haihua use ethanol dehydrogenation method. The problem of process structure simplification is prominent, the supply of high-end refined products is scarce, and the problem of structural mismatch is significant.

III. Import and Export Trade Pattern: From Import Dependence to Export-Driven Industrial Transformation III. Import and Export Trade Pattern: From Import Dependence to Export-Driven Industrial Transformation

The continuous increase in production capacity has completely reshaped the trade structure of domestic ethyl acetate, and the industry has completed the complete transformation from pure import dependence, internal and external supply and demand balance to export export destocking, and internal and external supply and demand balance to export export destocking. In 2005, domestic production capacity was insufficient, high-end and rigid demand products relied on imports, and the annual import volume reached 46,400 tons; with the rapid release of domestic production capacity, the import volume fell off a cliff year by year, falling to 1,000 tons in 2011, only 300 tons in 2014, and the import volume was further reduced to 100 tons in January-September 2015. Imports are basically approaching zero, achieving 100% localization substitution. Complete metamorphosis. In 2005, domestic production capacity was insufficient, and high-end and rigid demand products were dependent on imports. The annual import volume reached 46,400 tons; with the rapid release of domestic production capacity, the import volume fell off a cliff year by year, falling to 1,000 tons in 2011, and only 300 tons in 2014. From January to September 2015, the import volume was further reduced to 100 tons, and the import basically approached zero, achieving 100% localization substitution.

In contrast to the shrinking of imports, domestic excess capacity continued to shift to overseas markets, and the scale of exports soared in the past decade. In 2005, exports were only 18,800 tons, and there was basically no overseas market has the voice over; in 2014, exports soared to 431,200 tons, setting a stage peak, an increase of 2.20% year-on-year, and exports became the core channel for domestic enterprises to digest excess capacity. From January to September 2015, exports 316,900 tons, a slight decrease of 7.58% year-on-year, mainly due to fluctuations in overseas regional demand, the impact of international low-price supply, and the shortcomings of the homogeneous low-price model of domestic products. In contrast to the shrinking of imports, domestic excess capacity continued to shift to overseas markets, and the scale of exports soared in the past decade. In 2005, exports were only 18,800 tons, and there was basically no overseas market has the voice over; in 2014, exports soared to 431,200 tons, setting a phased peak, an increase of 2.20% year-on-year, and exports became the core channel for domestic enterprises to digest excess capacity. From January to September 2015, exports 316,900 tons, a slight decrease of 7.58% year-on-year, mainly due to fluctuations in overseas regional demand, the impact of international low-price supply, and the shortcomings of domestic product homogenization and low-price volume model.

From the analysis of the export market structure, domestic export destinations are highly concentrated. East Asia and South East Asia are the core export markets, with high market concentration and weak anti-risk ability. In 2014, exports to the five core markets of Japan, South Korea, Taiwan, Vietnam and Malaysia totaled 314,900 tons, accounting for 73.03% of the total export volume. Among them, the Japanese market accounted for the highest 29.29%, but showed a shrinking trend year by year; the markets of South Korea and Malaysia grew steadily and became the core of incremental growth; the markets of Taiwan and Vietnam declined slightly. The overall export structure is characterized by "shrinking traditional mature markets and making-good emerging South East Asia markets", but the overall market is single, vulnerable to international trade barriers and anti-dumping sanctions, and the potential trade risks of the industry are extremely high. From the analysis of the export market structure, domestic export destinations are highly concentrated. East Asia and South East Asia are the core export markets, with high market concentration and weak anti-risk ability. In 2014, exports to the five core markets of Japan, South Korea, Taiwan, Vietnam and Malaysia totaled 314,900 tons, accounting for 73.03% of the total export volume. Among them, the Japanese market accounted for the highest 29.29%, but showed a shrinking trend year by year; the markets of South Korea and Malaysia grew steadily and became the core of incremental growth; the markets of Taiwan and Vietnam declined slightly. The overall export structure is characterized by "shrinking traditional mature markets and making-good emerging South East Asia markets", but the overall market is single, and it is highly vulnerable to international trade barriers and anti-dumping sanctions. The potential trade risks of the industry are extremely high.

From the perspective of export sources, domestic export production capacity is highly concentrated in Jiangsu and Shandong provinces. In 2014, the two provinces exported a total of 362,800 tons, accounting for 84.14% of the country's total exports. Among them, Jiangsu Province relies on the advantages of ports and industrial clusters, and exports account for 70.13%, making it the largest export province in the country; Shandong Province accounts for 14.01%. The two export bases in the north and south support the national export market, but the regional export concentration is too high. Once the local regional equipment is centrally overhauled, environmental protection is limited or logistics is limited, it will directly affect the national export supply. From the perspective of export sources, domestic export production capacity is highly concentrated in Jiangsu and Shandong provinces. In 2014, the two provinces exported a total of 362,800 tons, accounting for 84.14% of the country's total exports. Among them, Jiangsu Province relies on the advantages of ports and industrial clusters, with exports accounting for 70.13%, making it the largest export province in the country; Shandong Province accounts for 14.01%. The two export bases in the north and south support the national export market, but the regional export concentration is too high. Once local regional installations are centrally overhauled, environmental protection production is limited or logistics is limited, it will directly affect the national export supply.

4. End point demand structure: traditional rigid demand dominates, high-end application lags 4. End point demand structure: traditional rigid demand dominates, high-end application lags

The domestic ethyl acetate consumption structure is deeply bound to the traditional manufacturing industry, and the overall situation shows a pattern of "rigid demand for coatings is king, medical bonding assistance, and high-end application is insufficient". Industry consumption structure data in 2014 shows that: the paint industry is the largest consumer field, accounting for 35.5%, mainly used for the dilution and film-forming aids of architectural coatings, furniture paints, and industrial paints; followed by the pharmaceutical industry, accounting for 29.5%, mostly used for drug extraction, intermediate synthesis, and preparation refining; the adhesive industry accounts for 20.5%, serving the packaging, leather goods, and composite sheet fields; the ink industry accounts for 9.5%; other sub-sectors together account for 5.5%. The domestic ethyl acetate consumption structure is deeply bound to the traditional manufacturing industry, and the overall pattern is "rigid demand for coatings is king, medical bonding assistance, and high-end application is insufficient". Industry consumption structure data in 2014 shows that the coatings industry is the largest consumption area, accounting for 35.5%, mainly used for the dilution and film-forming aids of architectural coatings, furniture paints, and industrial paints; followed by the pharmaceutical industry, accounting for 29.5%, mostly used for drug extraction, intermediate synthesis, and preparation refining; the adhesive industry accounts for 20.5%, serving the packaging, leather goods, and composite sheet fields; the ink industry accounts for 9.5%; other sub-sectors together account for 5.5%.

Compared with the international mature market, there are obvious structural shortcomings in the domestic consumption structure: the proportion of consumption in the fields of medicine and adhesives is relatively high, the proportion of high-end electronic inks, precision coatings, food-grade refined solvents and other high-value-added scenarios is insufficient, and the product value is not fully released. From the perspective of industry iteration trends, the domestic end point structure is gradually converging to international standards. The demand in the fields of traditional pharmaceutical rough processing and low-end bonding is slowly declining. The demand in the fields of high-end high-end coatings, electronic-grade precision inks, and new energy supporting materials is steadily increasing, and the demand structure continues to be optimized. Compared with the international mature market, the domestic consumption structure has obvious structural shortcomings: the proportion of consumption in the fields of medicine and adhesives is relatively high, and the proportion of high-value-added scenarios such as high-end electronic inks, precision coatings, and food-grade refined solvents is insufficient, and the product value has not been fully released. From the perspective of industry iteration trends, the domestic end point structure is gradually converging to international standards. The demand for traditional pharmaceutical rough processing and low-end bonding is slowly declining. The demand for high-end high-end coatings, electronic-grade precision inks, and new energy supporting materials is steadily increasing, and the demand structure continues to be optimized.

Expected from the increase in demand, the domestic manufacturing industry will recover steadily after 2015, the expansion of coatings, inks, electronics, and communications industries will continue to drive rigid demand, and the overall demand of the industry will maintain a steady growth trend. The industry estimates that the total demand for ethyl acetate in China will reach 1.20 million-1.25 million tons in 2019. From the anticipated increase in demand, the domestic manufacturing industry has steadily recovered after 2015, the expansion of coatings, inks, electronics, and communications industries continues to drive rigid demand, and the overall demand of the industry maintains a steady growth trend. The industry estimates that the total demand for ethyl acetate in China in 2019 will reach 1.20 million - 1.25 million tons, and the demand increment will be released smoothly, but the incremental speed is far lower than the capacity expansion speed, and the contradiction of excess supply and demand continues to intensify.

5. Market price trend and core pricing logic 5. Market price trend and core pricing logic

From 2014 to 2015, the domestic ethyl acetate market as a whole was in the 2014-2015 domestic ethyl acetate market as a whole was in the continuous downward, low volatility continued downward, low volatility channel, and the industry entered a low profit, low gross profit, and low price involution cycle. In 2014, the market price range was 5910-6740 yuan/ton, and the fluctuation range throughout the year was relatively controllable. In 2015, the market continued to weaken, and the price center moved sharply downward. The highest price in the year was 5640 yuan/ton, down 9.47% year-on-year. The lowest price fell to 4900 yuan/ton, down 22.47% year-on-year. The low price broke through the cost line of most small and medium-sized enterprises in the industry during the year. Channel, the industry entered a low profit, low gross profit, and low price involution cycle In 2014, the market price range was 5910-6740 yuan/ton, with relatively controllable fluctuations throughout the year. In 2015, the market continued to weaken, and the price center moved sharply downward. The highest price in the year was 5640 yuan/ton, down 9.47% year-on-year. The lowest price fell to 4900 yuan/ton, down 22.47% year-on-year. The low price broke through the cost line of most small and medium-sized enterprises in the industry during the year.

The continuous decline in prices is not caused by a single factor, but the continuous decline in prices is not caused by a single factor, but the result of the triple logic resonance of supply and demand structure, raw material cost, industry competition supply and demand structure, raw material cost, and industry competition . First, the continuous overcapacity, the market supply is far greater than the demand, and the small and medium-sized manufacturers continue to lower the average market price in order to withdraw funds at a low price. Second, the overall decline in the price of upstream acetic acid raw materials, the weak cost support, provides space for downstream price reduction. Third, the end point demand is flat, the downstream paint, furniture, and bonding industries have no explosive increments, and the rigid demand is stable and cannot digest the excess capacity. The market bargaining power is completely biased towards the end point, and the manufacturers passively reduce the price and leave the goods. The result of triple logic resonance First, the production capacity continues to be excessive, the market supply is far greater than the demand, small and medium-sized manufacturers take low prices for the return of funds, and continue to lower the average market price; second, the overall decline in the price of upstream acetic acid raw materials, the cost support is weak, providing space for downstream price reduction; third, the end point demand is flat, the downstream paint, furniture, and bonding industries have no explosive increments, rigid demand is stable and cannot digest excess capacity, the market bargaining power is completely biased towards the end point, and the manufacturer passively reduces the price and leaves the goods.

From the perspective of medium- and long-term logic, under the background of uncleared overcapacity, continuous deployment of new production capacity, and limited end point demand increment, it is difficult for industry prices to experience a sustained sharp rise. Long-term low-level operation and low-profit operation will become the new normal of the industry, and the era of huge profits in the industry will come to an end. From the perspective of medium- and long-term logic, under the background of uncleared overcapacity, continuous deployment of new production capacity, and limited end point demand increment, it is difficult for industry prices to experience a sustained sharp rise. Long-term low-level operation and low-profit operation will become the new normal of the industry, and the era of huge profits in the

6. Industry structural pain points, development shortcomings and breaking strategies 6. Industry structural pain points, development shortcomings and breaking strategies

Comprehensive production capacity, supply and demand, trade, price, and process status quo, the domestic ethyl acetate industry has fully exposed the four major structural stubborn diseases in 2015, which is also the core entry point for the subsequent industry reshuffle and transformation. Comprehensive production capacity, supply and demand, trade, price, and process status, the domestic ethyl acetate industry has fully exposed the four major structural stubborn diseases in 2015, which is also the core entry point for the subsequent industry reshuffle and transformation.

First, the process structure is old, and the level of greening and high-end is insufficient. The domestic mainstream esterification process has problems of large equipment corrosion, many by-products, high environmental pressure, and high product impurities. The supply of high-end pharmaceutical-grade and electronic-grade products is insufficient. There is still a gap in the high-end market. The low-end market is seriously invaded. The process upgrade iteration is imminent. The future industry's core technology direction is the research and development of new high-efficiency, low-corrosion, and green catalysts, which will reduce production costs, reduce equipment loss and three waste emissions, and improve product purity and stability. First, the process structure is old, and the level of greening and high-end is insufficient. The domestic mainstream esterification process has problems of high equipment corrosion, many by-products, high environmental pressure, and high product impurities. The supply of high-end pharmaceutical-grade and electronic-grade products is insufficient, and there is still a gap in the high-end market. The low-end market is seriously invaded, and the process upgrade iteration is imminent. The core technical direction of the future industry is the research and development of new high-efficiency, low-corrosion, and green catalysts to reduce production costs, reduce equipment loss and three waste emissions, and improve product purity and stability.

Second, the disorderly expansion of production capacity, the industry is serious oversupply. Driven by the early market dividend, the industry blindly built and expanded production capacity, superimposed small and medium-sized production capacity, and serious homogeneity, resulting in low start-up rate, waste of resources, and vicious price competition in the industry. The industry must strictly control new production capacity, eliminate inefficient and backward small devices, and rely on the large-scale advantages of leading enterprises to reduce costs and increase efficiency, improve industry concentration, and optimize the overall supply and demand pattern. Second, the disorderly expansion of production capacity, the industry is serious oversupply. Driven by the early market dividend, the industry blindly built and expanded production capacity, superimposed small and medium-sized production capacity, and serious homogeneity, resulting in low start-up rate, waste of resources, and vicious price competition in the The industry must strictly control new production capacity, eliminate inefficient and outdated small devices, and rely on the scale advantages of leading enterprises to reduce costs and increase efficiency, improve industry concentration, and optimize the overall supply and demand pattern.

Third, the consumption structure is single, and the expansion of high-end applications is insufficient. The industry has long relied on traditional coatings, low-end pharmaceuticals, and ordinary bonding scenarios. The development of high-value-added application fields is lagging behind, and the added value of products is low. In the future, it is necessary to continue to optimize the consumption structure, expand high-end scenarios such as electronic inks, precision coatings, food refining, and new energy matching, and open up the demand incremental space to get rid of the low-end involution dilemma. Third, the consumption structure is single, and the expansion of high-end applications is insufficient. The industry has long relied on traditional coatings, low-end pharmaceuticals, and ordinary bonding scenarios. The development of high-value-added application fields In the future, it is necessary to continue to optimize the consumption structure, expand high-end scenarios such as electronic inks, precision coatings, food refining, and new energy matching, and open up the space for incremental demand to get rid of the low-end internal winding dilemma.

Fourth, the export structure is fragile and the risk of international trade is extremely high. Domestic exports rely on low-price volume and highly concentrated markets, which can easily lead to overseas anti-dumping investigations and trade sanctions. Referring to the cases of foreign trade setbacks of similar solvents such as dichloromethane, the ethyl acetate industry is likely to face the risk of international trade barriers in the future. The industry needs to make arrangements in advance, diversify overseas markets, standardize export order, avoid low-price dumping, improve the quality of export products, reduce single market dependence, and avoid trade risks. Fourth, the export structure is fragile and the risk of international trade is extremely high. Domestic exports rely on low-price volume and highly concentrated markets, which can easily lead to overseas anti-dumping investigations and trade sanctions. Referring to the cases of foreign trade setbacks of similar solvents such as dichloromethane, the ethyl acetate industry is likely to face The industry needs to make arrangements in advance to diversify overseas markets, standardize export order, avoid low-price dumping, improve the quality of export products, reduce single market dependence, and avoid trade risks.

VII. Industry summary and future development anticipated VII. Industry summary and future development anticipated

2006-2015 was a decade in which the domestic ethyl acetate industry went from weak to large-scale, from import dependence to export dominance, and it was also a key cycle for the industry to complete large-scale expansion of production capacity and lay the hidden dangers of structural excess. The current core contradiction in the industry has completely changed from "insufficient production capacity and supply shortage" to 2006-2015 was a decade in which the domestic ethyl acetate industry went from weak to large-scale, from import dependence to export dominance. It was also a key cycle for the industry to complete large-scale expansion of production capacity and lay the hidden dangers of structural excess. The current core contradiction in the industry has completely changed from "insufficient production capacity and supply shortage" to overcapacity, backward process, structural imbalance, competition internal volume, trade fragility, overcapacity, backward process, structural imbalance, competition internal volume, trade fragility ...

In the short term, the industry will continue to maintain the pattern of "low prices, small profits, stable demand, and weak exports", with no basis for sharp price increases, small and medium-sized enterprises will continue to clear losses, and industry concentration will increase passively; in the medium and long term, the industry will be reshuffled to accelerate, and green process upgrades, high-end products, production capacity intensification, and export diversification will become the core development lines. In the future, companies that can survive and be competitive will no longer rely on traditional manufacturers that expand their scale and sell at low prices, but will have a short-term perspective. The industry will continue to maintain a pattern of "low prices, small profits, stable demand, and weak exports." There is no significant increase in prices. Small and medium-sized enterprises continue to lose money, and industry concentration will increase passively. In the medium and long term, the industry reshuffle will accelerate, and green process upgrades, high-end products, production capacity intensification, and export diversification will become the core development line. The future can survive and competitive enterprises, will no longer rely on scale expansion, low-cost volume of traditional manufacturers, but with green process, high-end products, cost advantage, multi-channel, compliance risk control green process, high-end products, cost advantage, multi-channel, compliance risk control of the head of fine enterprise.

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