Shandong zhemei 160000 tons of PMMA to be put into production soon

Project core value and industrial significance

shandong zhemei new materials annual output of 160000 tons of PMMA high-end optical materials project put into production, marking China's optical grade PMMA industrialization into a key breakthrough period. With a total investment of 2 billion yuan, the project adopts bulk polymerization process and will build 80000 tons of production capacity in two phases. The first phase focuses on extrusion level, injection molding level and other general products, the second phase of the main light guide plate level, optical film level, light diffusion level and other high value-added products. This gradual layout reflects a pragmatic technical route-not only through the rapid withdrawal of funds through basic products, but also set aside time for high-end product technology research, reducing market risks.

The project is located in Hekou Blue Economic Industrial Park, which is located in the strategic intersection area of the Yellow River Delta and Shandong Peninsula, with obvious policy advantages. From the perspective of supply chain, the region can radiate the East China and North China markets. Compared with the existing production capacity concentrated in the East China coast, the logistics cost is more competitive. Products cover new energy automotive lighting, 5G fiber optic cable, flexible photovoltaic and other high-growth areas, the breadth of the application scenario directly determines the project's anti-cycle ability.

Market driving force and the urgency of domestic substitution

the technical advantages of optical grade PMMA are irreplaceable: light transmittance ≥ 92% surpasses ordinary glass, low birefringence ensures imaging quality, density is only half of glass but impact resistance is excellent. These characteristics make it a core material for display panels, automotive lidar, and AR/VR devices. The demand side presents a triple drive: 5G base station construction to promote the upgrading of communication equipment, new energy vehicle penetration to drive the demand for light lenses, new display technology iteration to expand the light guide plate market.

However, the industrial structure has been out of balance for a long time: more than 70% of the global production capacity is monopolized by five multinational enterprises such as Roma, Chi Mei and Mitsubishi, and high-end optical grade PMMA is almost controlled by foreign capital. Although China is the largest producer and consumer, the proportion of low-end products in the existing 735000 tons of production capacity is too high, and foreign capital dominates the production end. This structural contradiction in the supply chain security, price discourse and other aspects of the formation of obvious constraints. In recent years, Wanhua Chemical, Suzhou Shuangxiang breakthrough light guide plate-level technology, Jiangxi Yiliang to achieve 5G antenna cover special material mass production, marking the initial results of domestic substitution, but 1.5 million tons of production capacity under construction will make the total production capacity of more than 2.5 million tons, the stage of supply and demand balance behind the surge in production capacity is worthy of attention.

Regional Layout Evolution and Strategic Enlightenment

the current production capacity of 87.71 is concentrated in East China, and the future production capacity will be dispersed throughout the country. This shift is based on three considerations: reducing the risk of regional excess, being close to emerging markets in the Midwest, and diversifying logistics costs. For traders and manufacturers, three suggestions are very important: first, closely follow the performance verification progress of domestic high-end materials, and the price advantage of imported products will be narrowed; The second is to lock in high-growth applications such as new energy vehicles and AR/VR, which are in strong demand for customized special materials. The third is to guard against price fluctuations brought about by the centralized release of production capacity from 2025 to 2026 and flexibly adjust the inventory cycle. Technology differentiation and application scenario deep cultivation will become the key ability to cross the cycle.