近期，丙烯酸相关装置密集投产。7月21日，巴斯夫宣布其湛江一体化基地丙烯酸及酯区首批装置完成 机械竣工，标志着这一重大化工项目进入调试与启动阶段。而今年上半年，万华蓬莱40万吨/年丙烯酸 丁酯装置已经投产，巴斯夫湛江项目投产后将进一步加剧丙烯酸行业市场竞争。业内人士认为，丙烯酸 行业密集的投产行为或引发行业迈入技术溢价时代。 供应压力升级 产能加速释放，市场数据已显示出丙烯酸供需失衡的隐忧。 从产业链角度看，丙烯酸以丙烯为原料，其下游包括丙烯酸酯、超吸水性树脂(SAP)、丙烯酸酯橡胶、 高性能材料等领域。丙烯酸丁酯作为丙烯酸下游的核心配套产品，需求主要集中在涂料、胶黏剂、纺织 助剂等下游领域。 据买化塑研究院监测数据显示，2025年上半年，胶带母卷产量虽有所增加，对丙烯酸丁酯需求形成一定 支撑，但丙烯酸乳液需求却表现欠佳。尤其令人担忧的是出口市场，2025年上半年中国丙烯酸丁酯出口 量12.32万吨，较2024年减少13.42%。2025年上半年，丙烯酸丁酯市场均价为8711元/吨，较去年同期下 跌5.99%。 展望下半年，王琨认为丙烯酸市场供需博弈会持续。主力下游丙烯酸丁酯方面，开工率相对稳定，因其 主要下 ...

Core Viewpoint - The acrylic acid industry is entering a phase of intensified competition due to the recent commissioning of new production facilities, leading to a potential shift towards a technology premium era in the sector [1][4]. Group 1: Industry Developments - BASF's new integrated acrylic acid facility in Zhanjiang has completed mechanical construction and is entering the commissioning phase, which will enhance the company's capacity to meet the growing demand in China and Asia [2]. - The global acrylic acid production capacity is projected to reach nearly 9 million tons per year by the end of 2024, with China contributing 4.08 million tons per year [2]. - By mid-2025, China's acrylic acid capacity is expected to increase to 4.4 million tons per year, with significant contributions from provinces like Zhejiang, Jiangsu, and Shandong [2]. Group 2: Supply and Demand Dynamics - The acrylic acid market is facing supply pressure, with new capacities from companies like Shandong Lanwan and Tianjin Bohua expected to add a total of 740,000 tons of acrylic acid capacity in the second half of 2025 [2]. - There are signs of supply-demand imbalance, as the market data indicates potential oversupply in the acrylic acid sector [2][3]. - The demand for downstream products, particularly acrylic acid butyl ester, is showing mixed signals, with a decline in export volumes and a drop in market prices [3]. Group 3: Technological Evolution - The acrylic acid industry is undergoing a transformation from "scale competition" to "ecological competition," with the top five companies now holding 65% of the market share, an increase of 12 percentage points since 2020 [4][5]. - Leading companies are leveraging technological advancements and industry chain integration to create ecological barriers, while smaller firms struggle to meet stringent environmental and performance standards [4]. - The industry is expected to enter a "technology premium era" over the next five years, emphasizing the need for breakthroughs in specialized acrylic acid production [5].