化工专题：化工装置深挖系列三，丁二烯上下游配套与边际装置分析（下）

研究院化工组 摘要 研究员 梁宗泰020-83901005liangzongtai@htfc.com从业资格号：F3056198投资咨询号：Z0015616 顺丁橡胶自有丁二烯的装置总产能占比59.36%，其中国营装置占比83%。剩余40%多的装置需要外采原料。外采原料装置主要集中在华东地区，产能占比达88.12%。 ABS在产装置自有丁二烯的占比25.53%；全部都是国营装置。剩余近75%的装置需要外采原料。外采原料装置主要集中在华东地区，产能占比达64.1%，剩余装置分布在华南、东北及华北。 陈莉020-83901135cl@htfc.com从业资格号：F0233775投资咨询号：Z0000421 SBS自有丁二烯的装置总产能占比20.6%；其中国营装置居多，占比65%。剩余近80%的装置需要外采原料。外采原料装置主要集中在华东和华南地区，占比分别达39.59%和39.25%，剩余装置在华中、华北及东北。其中华南只有中石油茂名石化以及在建的中石油广西石化是丁二烯的配套装置，其余均需要外采。 联系人 丁苯橡胶自有丁二烯的装置总产能占比59.77%；其中国营装置占比达94.3%。剩余40%的装置需要外采原料。外采原料装置主要集中在华东地区，产能占比达84.5%，剩余装置分布在华南、东北及华中。 杨露露0755-82790795yanglulu@htfc.com从业资格号：F03128371 SEBS所有在产装置均需要外采原料。外采原料装置主要集中在华东地区和华南地区，产能占比分别为39.19%和31.08%，剩余近30%的产能在华中地区。 刘启展020-83901049liuqizhan@htfc.com从业资格号：F03140168 丁腈乳胶自有丁二烯装置总产能占比14.9%；均为国营装置。剩余85%装置需要外采原料。外采原料装置主要集中在华东地区，民营企业为主。 梁琦liangqi@htfc.com从业资格号：F03148380 投资咨询业务资格：证监许可【2011】1289号 目录 摘要....................................................................................................................................................................................................1前言....................................................................................................................................................................................................4丁二烯下游装置分析.........................................................................................................................................................................4顺丁橡胶装置现状分析............................................................................................................................................................4顺丁橡胶边际产能分析............................................................................................................................................................5ABS装置现状分析.....................................................................................................................................................................6ABS边际产能分析.....................................................................................................................................................................7SBS装置现状分析.....................................................................................................................................................................8SBS边际产能分析.....................................................................................................................................................................9丁苯橡胶装置现状分析..........................................................................................................................................................10丁苯橡胶边际产能分析..........................................................................................................................................................11丁腈乳胶装置现状分析..........................................................................................................................................................12丁腈乳胶边际产能分析..........................................................................................................................................................13SEBS装置现状分析.................................................................................................................................................................14SEBS边际产能分析.................................................................................................................................................................15丁腈橡胶装置现状分析..........................................................................................................................................................15丁苯乳胶装置现状分析..........................................................................................................................................................16丁吡乳胶装置现状分析..........................................................................................................................................................16总结..................................................................................................................................................................................................17 图表 表1:我国顺丁橡胶原料外采装置..................................................................................................................................................6表2:我国ABS外采原料装置..........................................................................................................................................................8表3:我国SBS外采原料装置........................................................................................................................................................10表4:我国丁苯橡胶原料外采装置................................................................................................................................................12表5:我国丁腈乳胶原料外采装置.....................................................................................................................