1. From nobles to commoners, spandex companies have had a hard time in recent years
Spandex was successfully developed by DuPont in the United States in the 1960s, and the product became very popular in the market as soon as it came out. However, due to its high price, it has always been called “noble fiber”, and the price per ton once exceeded 100,000 yuan. However, due to the rapid expansion of production capacity, the pace of civilianization has been intensified.
2015-2016 was the most difficult period for the spandex industry. Starting from the second half of 2014, spandex fell into a price decline cycle that lasted for more than two years. The long-term decline in spandex prices lasted until October 2016. It was finally over. Under that bear market, most domestic spandex companies were in a state of serious losses, and many companies could not afford to stop production.
In the first half of this year, driven by costs, spandex finally experienced a wave of rising prices. However, it is an indisputable fact that the production profits of domestic enterprises have been greatly compressed. On the one hand, the overall price of spandex is falling, and on the other hand, the production cost is gradually rising.
Industry insiders said that 30,000 yuan is the peak of the spandex industry. If the price is below 30,000 yuan per ton for a long time, many small factories with a production capacity of less than 20,000 tons will be unable to survive.
In addition to plummeting prices and compressed profits, the spandex industry also has a very difficult credit problem. Unlike the polyester industry, spandex, like the nylon industry, requires delivery first and payment later. Credit arrears have become a very serious problem in the industry. Some large factories can still make monthly payments, but it is also very common for some small factories with weak voice to be unable to get payment for goods owed for one year. Dead debts and bad debts have become serious diseases that cannot be cured in the spandex industry, seriously restricting the healthy development of the industry.
2. The spandex industry grew from the “Spring and Autumn Period” when all the heroes came together, and gradually entered the “Warring States Period” when the leader competed
At present, the total domestic spandex production capacity is around 700,000 tons. 2015-2016 is the period of intensive launch of spandex production capacity, especially in 2015, the production capacity growth rate is as high as 17%. According to statistics, the growth rate of spandex production capacity has slowed down in 2017, but the production capacity of major manufacturers is still accelerating expansion.
At present, the most certain new production capacities are Xinxiang 20,000 tons and Hyosung Jiaxing 15,000 tons (new Quzhou plant); the production capacities that may be put into production are Du Zhong 18,000 tons and Yuehua 30,000 tons (planned to be put into operation by the end of 2017). In addition, China Feng Spandex still plans to expand 90,000 tons of differentiated spandex in the next four years.
It is reported that among the nearly 30 domestic spandex companies, only 7 have a production capacity of more than 40,000 tons. Among these companies, as of now, the production capacity of Huafeng spandex is 117,000 tons, Hyosung spandex is 80,000 tons, Zhuji Huahai is 60,000 tons, Xinxiang Chemical Fiber is 60,000 tons, Taihe New Material is 45,000 tons, and Fujian Hengshen is 40,000 tons. . Generally speaking, in the next few years, the concentration of spandex will become higher and higher, and the bargaining power and market share advantages of leading domestic spandex companies will become more obvious.
As the production capacity of large manufacturers continues to expand, the voice of large manufacturers will become more concentrated. This will not only make the entire industry more standardized, but also have a positive effect on the overall development of the industry. Nowadays, devices with higher output and lower unit cost are put into production. With the gradual launch of these new devices, it can be predicted that in the future, the added value of the products of major spandex manufacturers will be higher and cost control will be more reasonable.
3. Leading enterprises are transforming into differentiation, and the spandex market will present a new pattern in which a hundred flowers bloom in the future
Speaking of spandex, it is undeniable that Lycra is still the leader in the international market, but in terms of market share, Hyosung Spandex, the world’s largest spandex manufacturer, is undeniable.
As an international leading spandex company, Hyosung spandex products are the current development trend of domestic spandex products. It is understood that Hyosung Spandex currently mainly produces differentiated spandex products. Its dyeable spandex series solves the problem of whitening of elastic fabrics by dyeing spandex, and also improves the problem of poor color fastness of spandex fabrics. Hyosung’s spandex fabrics The color fastness can reach level 4, far exceeding the industry average standard; the successful mass production of Hyosung black spandex has solved the dilemma of spandex fabrics not being able to be made into extra black; in addition, it is highly elastic, chlorine-resistant, super soft, environmentally friendly, and ultra-black. Fine denier, personal hygiene products, etc. are Hyosung spandex’s main products.
At present, the mainstream trend of spandex is also developing in these aspects. For example, Huafeng spandex has also begun to gradually take a differentiated route, such as colored, ultra-fine denier, high temperature resistance, chlorine resistance, low temperature setting, low melting point, diapers, antibacterial and other spandex. Product transformation. With the continuous transformation and upgrading of the market, low-end products will be gradually eliminated, and the spandex market will gradually transition to the mid-to-high-end market.
4. The current situation of oversupply is serious, but the demand for mid-to-high-end spandex is still growing
The current situation of oversupply of mid- to low-end spandex products in the spandex market is very serious. Many small factories have poor sales and thin profits. However, there is still a gap in the demand for spandex in the mid-to-high-end market. According to Section Chief Cho of Hyosung, in the past two years, the mid-to-high-end differentiated market demand has been good, and domestic and foreign demand has been on a steady upward trend.
In the clothing fabric market, spandex is mainly used in warp knitting, weft knitting, and woven products. Weft knitted fabrics have low threshold, The investment is small, and the demand release was more obvious 3-5 years ago, but now the demand has also entered a bottleneck period. In the warp knitting industry, due to heavy investment in equipment, demand in the warp knitting industry has been growing steadily.
In the past two years, the woven industry has become a new growth point in the demand for spandex. As far as Shengze area is concerned, the growth of spandex coating machines has been obvious, and the demand has increased significantly. In particular, the market for woven four-way stretch fabrics was booming the year before last, which obviously promoted the smooth flow of spandex products. Although the market for four-way elastic has declined this year, which has indeed had a certain impact on mid- to low-end spandex products, the market for mechanical stretch fabrics has picked up, so the demand for mid- to high-end spandex products is still growing steadily.
</p
