Panorama of China's fine chemical industry in 2023

Industry profile

1. Definition

Fine chemical industry refers to the production of fine chemicals industry, commonly known as fine chemical industry. The products of this industry refer to chemical products with specific application functions, technology intensive, commercial and high added value.

There are many kinds of fine chemical products and a wide range of downstream applications. Because some chemical products have various chemical characteristics such as stability, lubricity, film formation, thickening, corrosion resistance, etc., they have irreplaceable catalytic and auxiliary roles in a certain link in the industrial chain of many industries.

At present, China's fine chemicals can be broadly divided into: pesticides, dyes, pigments, reagents and chemicals (raw materials), including 11 categories of subdivided products. With the development of the national economy, the development and application fields of fine chemical industry are constantly expanding, and new categories will continue to increase.

2, industrial chain analysis: The industrial chain is long and complex, and the current downstream application scenarios are relatively simple

Fine chemical industry includes fine chemicals and special chemicals. Unlike general and semi-general chemicals, which are bulk products, fine chemical products have the characteristics of small production, relatively specific application field at present, and long and complex industrial chain. They are prepared by a series of chemical reactions on basic chemical raw materials. Products are mainly used in medicine, pesticides, dyes, liquid crystals and other fields. The upstream industry of the industry is mainly the basic chemical industry, including inorganic chemical raw materials and organic chemical raw materials; The middle reaches of the industry include chemical intermediates and chemical preparations, the former includes fine chemicals and specialty chemicals, while the latter includes fine chemicals and specialty chemicals. The downstream application scenarios of the industry mainly include pharmaceutical, pesticide, dye and daily chemical application markets.

The upstream of fine chemical industry is dominated by traditional petrochemical enterprises such as Sinopec, Njie Shares and Rongsheng Petrochemical, with high market concentration and stable share supply; The middle reaches are fine chemical manufacturing enterprises with enhanced professionalism and a high degree of segmentation. For example, Xinhecheng is mainly engaged in pharmaceutical fine chemical products, while Lianhua Technology is mainly engaged in pesticide fine chemical products. Downstream industries are mainly operators in the field of finished products, such as Procter & Gamble daily chemical, Haoye Pharmaceutical and so on.

Industry development history: The industry is shifting to the stage of high-end product research and development

Fine chemical industry is an important part of petrochemical industry. China's fine chemical industry started late, the "eighth Five-Year Plan" proposed to focus on the development of fine chemicals, the "ninth Five-Year Plan" established fine chemicals as a key area of structural adjustment, and the "Twelfth Five-Year Plan" period, restricted by key technologies, the development of domestic fine chemicals and new materials is relatively slow, based on this development background, the "Twelfth Five-Year Plan" clearly pointed out that Fine chemical industry should actively innovate technology, vigorously produce environment-friendly products and high value-added chemical new materials, in order to shorten the gap with developed countries in the technical level. During the "13th Five-Year Plan" period, the development theme of the fine chemical industry has become around the transformation and upgrading of the petrochemical industry, according to the original industrial basis of various provinces and cities, with the goal of building an important national strategic petrochemical industry base, further expanding the production scale of oil and gas processing, ethylene production, new coal chemical industry, and extending the industrial chain. We will promote the coupling development of petrochemical and coal chemical industries.

During the current "14th Five-Year Plan" period, according to the vice president of the China Petroleum and Chemical Industry Federation, the high-quality development of the petrochemical industry, deepening the supply-side structural reform, should also work hard on the adjustment and optimization of the industrial structure and product structure, and should also work hard on the high-end and differentiation of products. Fine chemical industry should continue to be the key field and important direction of high-quality development of petrochemical industry; The fine chemical industry as an important segment of the petrochemical industry, the industry is in the transition period from the primary and intermediate stage to the fine chemical industry, the proportion of traditional bulk general-grade products will gradually decline, the development of high-tech and high-quality products is an important development direction of the industry.

Industry policy background: The policy guides the two development directions of the industry

In March 2021, the "14th Five-Year Plan" of China's coating industry (hereinafter referred to as the "Plan") was released, and the "Plan" indicates that the coating industry will be consistent with the overall development direction of the country, achieve sustainable growth, and actively promote industrial upgrading and development transformation; Under the guidance of the "double carbon" goal, the industry will carry out industrial transformation and upgrading in the direction of energy conservation and emission reduction; The coating industry also needs to strengthen technical investment to meet the development trend of the fine chemical industry for independent research and development of high-end technology products.