Basic introduction to ethyl acetate

Ethyl acetate (EA), also known as ethyl acetate, is a multi-purpose common solvent. It is mainly used in industrial varnishes and enamels, as well as in the production of photographic films and adhesives. It can also be used as an extraction solvent in the production of drugs and food. It can also be used as a medium solvent for herbicides. It can be used as a raw material for the production of fruit flavors such as pineapples, bananas, and strawberries and spices such as whiskey and cream. At present, there are four main synthetic methods of ethyl acetate in the world: acetate esterification, acetaldehyde acetation, ethanol dehydrogenation, and acetic acid/ethylene addition. The production methods of ethyl acetate in our country include acetate esterification and ethanol dehydrogenation.

Production capacity is increasing steadily, and the supply pattern is changing

Driven by the demand for construction and furniture coatings, in recent years, our country has completed a number of new or expanded plants, which have steadily increased production capacity. In 2006, the production capacity of ethyl acetate was only 900,000 tons, increased to 2.10 million tons in 2010, and further increased to 416.0 tons in 2015. The growth rate of production capacity reached 2.38% from 2009 to 2015. Our country has become the world's largest producer of ethyl acetate, accounting for about 65.0% of the world's total production capacity. Our country ethyl acetate manufacturers are mainly distributed in East China and South China, of which the production capacity in East China occupies an absolute advantage, reaching 2.64 million tons, accounting for about 63% of the total production capacity. 46%; followed by South China, with a capacity of 1.025 million tons, accounting for about 24.64% of the total capacity. As of now, Guangdong Jiangmen Qianxin Chemical Development Company is the largest producer of ethyl acetate in our country, with a capacity of 600,000 tons (including Taixing Jinjiang Chemical Co., Ltd.), accounting for about 14.42% of the total capacity. The situation of major domestic manufacturers and the distribution of capacity in 2015 are shown in Table 1 and Figure 1 respectively.

Major ethyl acetate manufacturers in our country in 2015

Increased production benefits import and export trade

With the continuous increase of production capacity and production, the import volume of ethyl acetate in our country has declined. In 2005, the import volume of ethyl acetate in our country was 46,400 tons, in 2011 it was 1,000 tons, and in 2014 it was 300 tons, a year-on-year decrease of 25.0%. In 2015 (1~ 9), the import volume was 100 tons, a year-on-year decrease of about 50.07%. On the contrary, the export volume has been increasing. In 2005, the export volume was 18,800 tons, in 2011 it was 373,500 tons, and in 2014 it was 431,200 tons, an increase of about 2.20% year-on-year. In 2015 (1~ 9), the export volume was 316,900 tons, a year-on-year decrease of about 7.58%.

Our country's ethyl acetate is mainly exported to Japan, South Korea, Taiwan, Vietnam and Malaysia and other countries and regions. In 2014, the total export volume to these five countries and regions reached 314,900 tons, accounting for about 73.03% of the total export volume, an increase of about 1.03% year-on-year. Among them, exports to Japan accounted for about 29.29%, a decrease of about 9.59% year-on-year; exports to South Korea accounted for about 15.37%, an increase of about 10.50% year-on-year; exports to Taiwan accounted for about 13.36%, a decrease of about 9.86% year-on-year; exports to South China accounted for about 7.47%, a decrease of about 9.04% year-on-year; exports to Malaysia accounted for about 7.54%, an increase of about 79.56% year-on-year.

Throughout our country, the export sources of ethyl acetate are mainly concentrated in Jiangsu and Shandong. The total export volume of these two provinces and cities in 2014 reached 362,800 tons. About 84.14% of the total export volume, a decrease of about 9.25% year-on-year. Among them, the export volume of Jiangsu Province accounted for about 70.13%, a decrease of about 8.80% year-on-year; the export volume of Shandong Province accounted for about 14.01%, a decrease of about 11.44% year-on-year.

Demand is growing steadily, and the consumption structure is in line with international standards

In recent years, with the rapid growth of our country's economy, the demand for coatings, inks, adhesives and other products has increased significantly, which has driven the steady growth of ethyl acetate consumption. In recent years, the supply and demand of ethyl acetate in our country is shown in Figure 2.

At present, ethyl acetate products in our country are mainly used in the production of coatings, pharmaceuticals and adhesives, etc. The consumption structure in 2014 is: the demand for ethyl acetate in the pharmaceutical industry accounts for about 29.5% of the total demand, coatings account for about 35.5%, adhesives account for about 20.5%, inks account for about 9.5%, and other products account for about 5.5%.

With the improvement of the technical level of domestic related industries and the introduction of relevant policies and regulations, the consumption structure of domestic ethyl acetate will gradually be in line with foreign countries, and the consumption ratio in the field of pharmaceuticals and adhesives will decrease. With the continuous development of new high-end coatings, the demand for ethyl acetate in the coating industry has also increased to a certain extent. In addition, with the development of the electronics and communication industries, the demand for inks has increased. It is expected that by 2019, the total demand for ethyl acetate in our country will reach about 1.20 million~ 1.25 million tons.

Market prices show a downward trend

In the past two years, the market price of ethyl acetate has generally operated at a lower price. The highest price in 2014 was 67,400 yuan/ton in August, and the lowest price was 5910 yuan/ton in March. Entering 2015, the price continued to decline, and compared with 2014, there was a significant decrease. The highest price in the whole year was 5640 yuan in April, a year-on-year decrease of about 9.47%; the lowest price was 4900 yuan/ton in October, a year-on-year decrease of about 22.47%. The reason for the price decline is closely related to the price changes of acetic acid raw materials in the past two years, in addition to the impact of supply and demand. It is expected that in the coming period, due to limited demand and serious overcapacity, the market price will still operate at a lower price, and the possibility of a significant increase is unlikely.

Overall, ethyl acetate in our country is mainly produced by acetate esterification process. In the future, the research and development of new catalysts should be further strengthened to improve catalyst performance, reduce costs, reduce corrosion to equipment, and reduce environmental pollution. In order to improve the overall technical level of ethyl acetate in our country.

In addition, the production capacity of ethyl acetate in our country has been a large number of excess, the market competition is relatively fierce, new or expanded plants should be cautious, to strengthen the scale effect, reduce production costs, in order to increase the ability to resist market risks. Actively adjust the consumption structure of ethyl acetate, strengthen domestic application development, in order to expand demand and avoid market risks.

With the increasing export volume of ethyl acetate in our country, it may be subject to foreign anti-dumping. Therefore, the relevant management departments should actively guide relevant enterprises to effectively evade to ensure the healthy development of related industries.