Hengli Petrochemical's production and sales of this functional film have doubled! Create a high-end fine chemical industry

At present, Hengli Petrochemical solar backsheet substrate products have achieved mass production, with an annual production capacity of 24,000 tons, that is, 62.
4 million square meters, favored by leading enterprises in the industry, and stable growth in production and sales
.
In addition, Kanghui New Material is building a production capacity of 60,000 tons of solar backsheet substrate products, that is, 156 million square meters
.
It is reported that in July 2021, Hengli Petrochemical independently developed the formula and production process of solar backsheet substrate, and the trial production product passed the "PCT", that is, high-pressure accelerated aging life test, in one fell swoop, fully meeting many performance requirements and passing customer verification
.

At the same time, with the proposal of the "dual carbon" goal, the volume and price of China's photovoltaic industry have risen, and the market space of solar backsheet substrate has been increasing
.
Huachuang Securities Research Report shows that according to the new photovoltaic installation, it is conservatively expected that the global demand for solar backsheet substrate film can reach 891 million square meters in 2025, and according to optimistic calculations, the demand will reach 1.
089 billion square meters
.

It is foreseeable that with the rapid expansion of demand in the photovoltaic field, Hengli Petrochemical solar backsheet substrate will also contribute to more considerable profit growth
for listed companies with the "bundled" development of the industry.

In addition, as the first enterprise in China to realize the integrated operation and development of the whole industrial chain from "crude oil-aromatics, olefins-PTA, ethylene glycol-polyester new materials", Hengli Petrochemical has the configuration of the whole industrial chain of petroleum refining and petrochemical, which can realize the self-sufficiency
of PET, the raw material of solar backsheet substrate.

At present, aiming at the new material application demand for functional film materials and high-performance engineering plastics spawned by the integrated development of new consumption, new energy and new manufacturing in China, the company is accelerating the construction of 800,000 tons/year functional polyester film, functional plastics, lithium battery separators and other projects, will further broaden the new field of film application, give full play to the system layout advantages of Hengli Petrochemical whole industry chain chemical platform and the technical advantages of downstream high-end film product research and development, and promote enterprises to achieve higher quality development
.

What is a solar backsheet substrate

Solar backsheet base film is an indispensable auxiliary material for solar backsheets, mainly used on the back of solar panels, as a photovoltaic packaging material
that directly contacts a large area with the external environment.

Because of the direct contact with the external environment in a large area, the solar backsheet substrate needs to have good insulation, barrier, aging resistance and high strength to ensure that it is used outdoors for at least 20 years, and the product technical requirements are high
.

For a long time, the backsheet substrate used by domestic photovoltaic companies has relied on imports, and the market has been monopolized
by overseas companies.
In recent years, under the impetus of national policies, the technical level of domestic manufacturers has been continuously improved, technical barriers have gradually disappeared, the localization process of special functional films has accelerated significantly, and the majority of photovoltaic module companies are more inclined to cite domestic backing film products with reliable quality and lower cost, and China's film factories have ushered in unprecedented opportunities
.

Create a high-end fine chemical industry

Promote the development of
"platform + new materials".
The company's upstream large chemical platform has been completed, and in the future, the company will focus on breaking through the field of new materials, planning and developing high-growth new material markets including degradable new materials, lithium batteries, photovoltaics, new engineering plastics industry chain, etc.
, including lithium battery separators, PS, acrylonitrile, ABS, battery-grade DMC, PC, polyether polyols and other production capacity
.

Figure 2 Layout and potential extension direction of Hengli petrochemical industry chain

Strengthen the basic support of upstream large chemical platforms

Hengli Petrochemical is the first listed company
in the industry to realize the integration of "crude oil-aromatics, olefins-PTA, ethylene glycol-polyester new materials" new chemical materials.
In the upstream, it has an annual production capacity of 4.
5 million tons of PX and 400,000 tons of acetic acid, and the midstream has an annual production capacity of 16.
6 million tons of PTA and 1.
8 million tons of fiber-grade ethylene glycol production capacity.

The company takes "refining + ethylene + coal" as the carrier to strengthen the support of upstream large chemical platforms, mainly including 20 million tons / year of oil refining, 1.
5 million tons / year of ethylene, 5 million tons / year of modern coal chemical plant, the main products include: (1) aromatic chain, 4.
5 million tons / year PX, 1.
2 million tons / year of pure benzene, 16.
6 million tons / year of PTA (of which 5 million tons / year PTA in Huizhou is under construction); (2) olefin chain, 1.
8 million tons/year ethylene glycol, 850,000 tons/year polypropylene, 720,000 tons/year styrene, 400,000 tons/year high-density polyethylene, 140,000 tons/year butadiene; (3) Coal chemical industry, 750,000 tons/year methanol, 400,000 tons/year acetic acid, 300,000 tons/year pure hydrogen, 126,000 tons/year liquid nitrogen
.

Accelerate the layout of new materials and create a second growth curve

The company's existing new materials mainly include: 2.
43 million tons/year of civil polyester filament, 400,000 tons/year of industrial yarn, 240,000 tons/year of PBT engineering plastics, 385,000 tons/year of BOPET film, 33,000 tons/year of PBAT
.

In 2022, the company will steadily promote the construction of 1.
6 million tons/year of high-performance resin and related supporting projects, 2.
6 million tons/year of functional polyester engineering, 300,000 tons/year of adipic acid chemical new material supporting projects and 1.
6 billion square meters of lithium battery diaphragm project under construction, creating a "second growth curve" with "new chemical materials"
as the new main axis.

In the future, the company will rely on the first and second phases of the fine chemical park project to accelerate the construction of high-end fine chemical industry cluster, and actively promote the layout
of new energy and new material products including lithium battery separator, electrolyte, PET copper foil base film and photovoltaic backsheet base film.