Statistics show that the total output value of China's new materials industry has grown significantly from 4.5 trillion yuan in 2019 to 6.7 trillion yuan in 2022, surpassing 7.9 trillion yuan in 2023. It is projected to exceed 10 trillion yuan by 2025.
Remarkable progress has been made across multiple new materials sectors:
Polyolefin Elastomer (POE): On June 29, 2024, Wanhua Chemical successfully commissioned China's first large-scale POE industrial plant with an annual capacity of 200,000 tons. POE is widely used in photovoltaic film and will expand into automotive, footwear, and cable industries.
Ethylene-Vinyl Alcohol Copolymer (EVOH): On May 23, 2024, Chuanyi Chemical launched a technological upgrade project for its 24,000-ton-per-year EVOH resin production, which is expected to transform the domestic EVOH market upon completion.
Metallocene Catalyst: On September 26, 2024, Sinopec Catalyst Tianjin Company successfully trialed its metallocene catalyst unit, marking a milestone in domestic catalyst production capabilities.
Cyclic Olefin Copolymer (COC): In January 2024, Liaoning Luhua Hongjin New Materials commenced production of COC with an initial capacity of 1,000 tons/year, with plans to expand to 10,000 tons/year.
Chloroprene Rubber: In September 2024, Zhongjiao Corporation unveiled China's first 10,000-ton-scale butadiene-based chloroprene rubber plant, breaking foreign technology monopolies.
Norbornene: In January 2024, Shandong Lujing Chemical and Beijing Institute of Petrochemical Technology jointly developed and commissioned a norbornene production unit, securing raw material supply for domestic cyclic olefin copolymers.
Dual-End Functionalized Solution Styrene-Butadiene Rubber (SSBR): In October 2024, Dushanzi Petrochemical launched China's first dual-end functionalized SSBR production, filling a critical domestic gap.
KrF Photoresist: In October 2024, Wuhan Taiziwei Optoelectronics introduced its T150A photoresist, achieving performance parity with international counterparts and advancing localization efforts.
Methylcyclohexanediamine (HTDA): In May 2024, Henan Leiborui successfully localized HTDA production, breaking foreign monopolies and providing domestic alternatives for wind turbine blades and other applications.
Expanded Polytetrafluoroethylene (ePTFE): In March 2024, Suzhou Meichuang Medical Technology achieved breakthroughs in producing ePTFE tubes and membranes, overcoming longstanding technical barriers.
These advancements underscore China's growing self-reliance and innovation in high-performance chemical materials, driving the industry toward the 10-trillion-yuan milestone.
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