In 2020, the output of chemical fiber was 60.2512 million tons, up 3.40 percent year-on-year. Among them, polyester, nylon, vinylon and spandex achieved positive growth, with year-on-year growth of 3.89 percent, 3.87 percent, 11.06 percent and 14.44 percent, respectively; the viscose fiber and acrylic fiber showed negative growth, decreasing by 4.11 percent and 5.12 percent respectively. In the second half of the year, the production situation of chemical fiber enterprises continued to improve. The year-on-year growth rate of chemical fiber output turned from negative to positive from January to September, and achieved a year-on-year growth of 3.40 percent in the year.

In 2020, the import volume of chemical fiber was 759,000 tons, down 17.30 percent year-on-year. Imports of all other major products declined year-on-year except spandex, which increased by 5.16 percent. The export volume of chemical fiber in 2020 was 4,660,600 tons, down 7.92 percent year-on-year. Among them, the export volume of polyester filament, viscose staple fiber, spandex and acrylic fiber achieved positive growth year-on-year.

 

In 2020, the economic operation of the chemical fiber industry decreased significantly compared with the same period last year. Data from the National Bureau of Statistics showed that from January to December, the operating income of the chemical fiber industry was 798.42 billion yuan, down 10.41 percent year-on-year; the total profit was 26.348 billion yuan, down 15.06 percent year-on-year. The percentage of loss-making enterprises was 28.72 percent, and the losses of loss-making enterprises increased by 22.99 percent year-on-year. However, the economic operation situation improved quarter by quarter, among which, the year-on-year decline in total profits gradually narrowed, and the increase in losses of loss-making enterprises dropped significantly in the second half of the year. From the perspective of market performance, products related to pandemic prevention materials, such as spandex, polyester staple fiber and other products have relatively good benefits, and there are even short-term shortages. In addition, the performance of integrated refining and chemical enterprises is excellent. A number of enterprises, such as Hengli Petrochemical, Rongsheng Petrochemical and Hengyi Petrochemical, which realized the upstream and downstream integrated development earlier, have shown good competitive advantage and anti-risk ability in the process of coping with this round of severe market situation, but this part of profit may not be counted in the chemical fiber industry.

 

In 2020, the chemical fiber industry will face great operating pressure, and the main operating quality indicators will decline significantly compared with that in 2019, but show a trend of gradual improvement. The profitability declined, with the profit margin of operating income of 3.3 percent, down 0.18 percentage points year-on-year; the growth rate of operating income decreased by 14.41 percentage points year-on-year; operating capacity is less than that of the same period in 2019, and the receivable turnover ratio, finished goods turnover, current assets turnover and total assets turnover all declined year-on-year; the proportion of three expenses increased by 0.26 percentage points year-on-year.