China's modified plastics industry is ushering in unprecedented development opportunities. With the rapid development of automotive, home appliances and other downstream industries, the demand for modified plastics continues to climb. 2023, China's modified plastics market size has exceeded 310.7 billion yuan, is expected to exceed 400 billion yuan in 2025, with a compound annual growth rate of 8% -10%.
In terms of the development environment, national policies have been increasing support for the modified plastics industry, listing it as a key development direction for new materials and providing special subsidies. At the same time, with the enhancement of environmental awareness, the demand for degradable modified plastics is also surging. In addition, technological advances also provide a strong impetus for the development of the industry, domestic enterprises in high-performance, functional integration, green and other aspects of the continuous breakthroughs, and gradually narrow the technological gap with foreign-funded enterprises.
In terms of market competition pattern, there are many domestic modified plastics enterprises, but the concentration is low. Industry-leading enterprises such as Kingfa Science & Technology, Guoen Co., Ltd have been expanding production capacity and upgrading technology, gradually expanding their market share. With the acceleration of industry reshuffle, the survival space of small and medium-sized enterprises will be further squeezed.
Overall, China's modified plastics industry has a promising future under the multiple driving forces of market demand, policy support and technological progress. Enterprises need to continuously improve their technological innovation ability and optimise their product structure to adapt to the rapid changes in the market and the intensification of competition.
