The modified plastics industry has good development prospects, and household appliances are the largest downstream market.

Modified plastic refers to plastic products that add one or more other substances to plastic resin to change its original properties and expand its scope of application. Modified plastics have the advantages of low production cost, good mechanical properties, high impact resistance, corrosion resistance, and high strength. They are widely used in automobile manufacturing, medical protection, household appliances, food packaging, urban rail transit and other fields.

According to the “2022-2027 China Modified Plastics Industry In-depth Research Report released by the Industrial Research Center, driven by market demand , my country’s modified plastics output continues to increase. In 2021, my country’s modified plastic output reached 26.515 million tons, a year-on-year increase of 16.2%. The main production areas of modified plastics in my country are concentrated in Zhejiang, Shandong, Jiangsu, Xinjiang and Guangdong. The above areas account for nearly 60% of the total output of modified plastics in my country.

According to different raw materials, modified plastics can be subdivided into HIPS modified plastics, PA modified plastics, AS modified plastics, PE modified plastics, PP modified plastics, PBT modified plastics and PC modified plastics. Polypropylene (PP) modified plastic is the mainstream product in the modified plastic market. It has the advantages of easy processing, low production cost, non-toxicity, and excellent mechanical properties. It can completely replace non-recyclable thermosetting plastics. In 2021, my country’s polypropylene (PP) output reached 29.143 million tons, a year-on-year increase of 10.2%. Benefiting from the sufficient supply of raw materials, the PP modified plastics industry has developed rapidly.

Home appliances are the largest consumer of modified plastics. Common home appliances include induction cookers, rice cookers, hair dryers, microwave ovens, etc. These products need to work at high temperatures for a long time and are prone to aging, discoloration, and wear. There are many types of modified plastic products, which can fully meet the plastic material selection needs of home appliances. In recent years, driven by positive factors such as national policy support and the rapid rise of e-commerce platforms, my country’s home appliance market has continued to expand, driving the demand for modified plastics to continue to increase.

In terms of market competition, due to factors such as high technical barriers, overseas brands dominate my country’s high-end modified plastics market. PolyOne of the United States, Dow Chemical of the United States, and LG Chem of South Korea are world-renowned modified plastics manufacturers, all of which have production bases in my country. In recent years, driven by market demand, my country’s local modified plastics manufacturers have grown rapidly. As my country’s leading company, Kingfa Technology’s modified plastics output exceeded 1.5 million tons in 2021, ranking first in the country.

Industry analysts said that there are many types of modified plastics and their excellent comprehensive properties have prompted their application fields to continue to expand. Driven by market demand, my country’s modified plastics output continues to increase, and the industry will have broad room for development in the future. my country is a major producer and consumer of plastic products in the world. Driven by multiple favorable factors, my country’s modified plastics industry will maintain a high level of development, and the development scale of local modified plastics enterprises will further expand.