By focusing on niche markets, private enterprises can also demonstrate a powerful capability to "swallow" the market. Recently, Chongqing Wankai New Materials Technology Co., Ltd. (referred to as "Chongqing Wankai") has shared good news: in 2024, the company's PET product production and sales volume reached as high as 1.586 million tons, with its output value breaking through the 10 billion yuan mark, firmly occupying about 80% of the Sichuan-Chongqing market share.

PET, these white food-grade plastic pellets, after being stretched and blow-molded, can be transformed into familiar beverage bottles, cooking oil bottles, and other food packaging containers. According to Zang Honghui, the rotating general manager of Chongqing Wankai, among the well-known brand beverages such as Coca-Cola, Nongfu Spring, Wahaha, and C'estbon sold in supermarkets in the Sichuan-Chongqing region, 4 out of every 5 plastic bottles come from Chongqing Wankai's PET material. As the only large-scale food-grade PET supplier in the Sichuan-Chongqing area, the position of Chongqing Wankai is self-evident.

Chongqing Wankai was established by Wankai New Materials and officially settled in Fuling in August 2018. Previously, Wankai New Materials' PET production base was located in Haining, Zhejiang, and the PET materials for the Sichuan-Chongqing region mainly relied on supplies from coastal areas. At that time, Wankai New Materials' market share in the Sichuan-Chongqing market was around 20%.

However, with the successive commissioning of phases one, two, and three of Chongqing Wankai, its market share in the Sichuan-Chongqing region rapidly increased. In less than five years, Chongqing Wankai has occupied approximately 80% of the PET market share in the Sichuan-Chongqing region. According to information from the Masterbatch Industry Network, behind this significant change, there are two key factors at play: first, a substantial reduction in production costs, as natural gas prices in Chongqing are more favorable compared to those in Zhejiang, saving Chongqing Wankai hundreds of millions of yuan annually in natural gas expenses, making its products more price-competitive; second, savings in transportation and storage costs, as Chongqing Wankai is now able to supply food packaging companies in the Sichuan-Chongqing region on the same day, greatly reducing transportation times and storage costs, and alleviating the working capital pressure on customers.

The commissioning of Chongqing Wankai not only boosted the PET production capacity of Wankai New Materials, increasing it from 1.2 million tons to 3 million tons, but also helped Wankai New Materials become the fourth largest leading enterprise in China's PET industry. In March 2022, Wankai New Materials successfully listed on the Shenzhen Stock Exchange A-share market, opening a new chapter of development.