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Analysis of the Current Situation and Development Trends of China's Fine Chemical Industry in 2018


Overview of Fine Chemical Industry
Compared with the basic chemical industry, the fine chemical industry mainly produces fine chemicals, which are products of deep processing on the basis of basic chemicals. The products in the industry cover various aspects of social life, from coatings, electronics, ink, medicine, papermaking, food additives, etc., to high-tech applications such as aerospace, automobiles, machinery, new building materials, new energy technology, etc, It has played an irreplaceable role in the development of the national economy. Due to the important role of the fine chemical industry in the national economy and industries, its development level is also considered an important part of the national strategic development.
In recent years, various countries around the world, especially industrialized countries, have regarded the development of fine chemical products as one of the key development strategies for upgrading and adjusting the structure of traditional chemical industries. Their chemical industries are all developing in the direction of "diversification" and "refinement". With the further development of the social economy, people's demand for electronics, automobiles, mechanical industries, new building materials, new energy, and new environmentally friendly materials will further increase. Electronic and information chemicals, surface engineering chemicals, pharmaceutical chemicals, etc. will be further developed, and the global market size of fine chemicals will maintain a faster growth rate than traditional chemical industries.
Current situation of domestic fine chemical industry
The fine chemical industry belongs to a technology intensive industry with high added value, which can reflect a country's comprehensive technological level. China attaches great importance to the development of the fine chemical industry. Currently, the fine chemical industry has become one of the important development directions of the chemical industry, and in recent years, China's fine chemical industry has achieved significant development. The chemical raw material and chemical product manufacturing industry is an important component of the national economy. As a fundamental industry of the national economy, China's chemical raw material and chemical product manufacturing industry has developed rapidly in recent years. From 2005 to 2016, the main business revenue of China's chemical raw material and chemical product manufacturing industry increased from 1.62 trillion yuan to 8.77 trillion yuan, and the business scale has expanded more than five times.
As a part of the chemical raw material and chemical product manufacturing industry, the fine chemical industry is classified as the specialized chemical manufacturing industry in China's industry statistics. From 2005 to 2014, the operating revenue of specialized chemical manufacturing owners in China increased from 316.8 billion yuan to 1.94 trillion yuan, and the business scale expanded more than six times. The growth rate was fast, and the growth rate was higher than the overall average level of the chemical industry.
With the continuous development of China's national economy, the fine chemical industry, which serves multiple industries, has developed rapidly in the past few decades. The proportion of the total output value of fine chemical industry to the total output value of the chemical industry is the refinement rate, which to some extent reflects the level of economic development and high-tech progress of a country. On a global scale, the refinement rate of developed countries such as the United States, Western Europe, and Japan is currently at a high level. With excellent product quality, some fine chemical products in China have begun to have more competitiveness in the international market and occupy an increasing market share. However, due to a relatively low base and relatively low product technology content, the overall refinement rate in China is relatively low. Although China has gradually become an important processing and export destination for fine chemical raw materials and intermediates in the world, there is still a significant gap compared to developed countries in the field of high-end chemical products, and some high-tech products have a high dependence on imports. Due to the important position of the fine chemical industry in the chemical industry and even the entire national economy, in the future, China will continue to regard improving the technological level and refining rate of the fine chemical industry as one of the national strategic development directions.
Future Development Trends of Fine Chemical Industry
Fine chemical products have the characteristics of a wide variety of products, wide application fields, complex process technology, high added value of products, and high viscosity to downstream customers. In recent years, with the advancement of high-tech, as the petroleum and chemical industries develop towards deep processing, the international and domestic fine chemical industry has also experienced unprecedented rapid development. The fine chemical industry in developed countries or regions such as the United States, Western Europe, and Japan is also relatively developed, representing the high level of development of fine chemical industry in the world today. Due to the irreplaceable nature of fine chemicals, their application scope continues to expand in depth, and the rapid development of the fine chemical industry has become an inevitable trend in the development of the chemical industry. In the past decade, China has attached great importance to the development of the fine chemical industry, making it one of the strategic priorities for the development of the chemical industry. It has been included in multiple national development plans and given preferential support in terms of policies and funds. With the improvement of scientific research and production capacity, China's fine chemical industry has rapidly developed, and the refinement rate is constantly increasing. At present, the variety of fine chemical products is increasing day by day, and their production capacity, output, varieties, and manufacturers are still growing. However, compared to developed countries with a longer history of chemical industry development, the overall technical level of China's fine chemical products is still relatively low. There is still a certain gap between the core technology of the fine chemical industry and the international advanced level, and the import dependence of high-performance, functionalized, and high value-added fine chemicals is still high. Compared to the level of refinement rate in developed countries, China's fine chemical industry still has significant room for improvement. With the stable growth of China's economy, the continuous deepening of industrialization and informatization processes, and the adjustment and upgrading of industrial structure, especially the high attention paid by the country to the fine chemical industry, China's fine chemical industry will usher in good opportunities and broad space in 2018.


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