Zhanxin Technology Materials (Jiaxing) has invested 473 million yuan to build a new powder coating resin production facility with an annual capacity of 120,000 tons
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Allnex, the world’s largest producer of industrial coating resins, has its wholly-owned subsidiary Allnex Technology Materials (Jiaxing) Co., Ltd. (hereinafter referred to as “Allnex Technology”) planning to invest 473 million yuan in building a new facility for the production of 120,000 tons per year of polyester resins specifically designed for energy-saving and environmentally friendly powder coatings. The facility will be located at No. 333 Jigang Road, Dushangang Town, Jiaxing City, Zhejiang Province. The construction will include a main production workshop, utility systems, administrative offices, and a security building, with an intended production capacity of 120,000 tons per year of such polyester resins. Zhanxin Technology states that saturated polyester powder resin, as the main raw material for producing plastic powders (low-VOC environmental-friendly coating products), is widely used in various fields such as construction, automotive industry, furniture, and home appliances. It boasts excellent adhesion, high durability, corrosion resistance, and environmental benefits, resulting in strong demand from the global market. In response to **environmental protection policies and taking advantage of the promising prospects for powder coatings, Zhanxin Technology plans to invest approximately 472.66 million yuan to build a new facility on the plot located to the northwest of its existing plant, aimed at producing 120,000 tons per year of energy-saving and environmentally friendly polyester resins specifically for use in powder coatings. The project will add 54,000 m² of land for construction, enabling the establishment of 4 powder polyester resin production lines, with an annual production capacity of 120,000 tons of powder resin. According to the environmental impact assessment documents, the designed production capacity for polyester powder resin in this project is 120,000 tons per year. This capacity is divided into indoor-type polyester powder resin and outdoor-type polyester powder resin, with production capacities of 14,300 tons and 105,700 tons respectively. The main application areas for outdoor polyester resins are outdoor environments; these products possess improved resistance to aging and orange staining. Their applications include construction materials, construction machinery, automobiles, and highway guardrails ； Indoor-type polyester resin products exhibit good leveling properties and decorative qualities, and are primarily used in indoor household appliances, furniture, electronic 3C products, and other applications. The project products can be divided into indoor and outdoor types, with over 100 different grades in total. Headquartered in Frankfurt, Germany, Zhanxin was acquired by Advent International in 2013 for $1.15 billion, and was fully purchased by Thailand’s PTTGC in 2021. In September 2016, Zhanxin Group completed the acquisition of Nupes Industrial Group for $1.05 billion, thereby becoming the world’s largest producer of coating resins. The products are used in architectural coatings, industrial coatings, protective coatings, automotive coatings, as well as specialty coatings and inks, with business operations spanning Europe, the Americas, Asia-Pacific, and the Greater China region. Currently, Zhanxin Group has an annual sales volume of 2.3 billion euros, with 34 production facilities and 23 R&D and technical support centers worldwide. Currently, Zhanxin has 5 companies in China, namely Newpes Resins (Suzhou), Zhanxin Resins (Foshan), Zhanxin Resins (Changshu), Zhanxin Resins (Shanghai), and Zhanxin Technology Materials (Jiaxing). Its products include coating resins that are widely used in areas such as automotive coatings, coatings for rail transit equipment, furniture paints, household appliance coatings, 3C product coatings, and other industrial coatings. According to public information, the four companies based in Suzhou, Foshan, Changshu, and Shanghai achieved total sales revenue of 1.43 billion yuan in 2016, with combined tax payments of 88 million yuan. Zhanxin Technology’s production facility for Zhanxin Resins in Jiaxing is located in the Dushangang Economic Development Zone; it serves as the foundation for the future development of Zhanxin Resins’ operations in China and around the world. In 2021, Zhanxin Technology invested in building a project in the Dushangang Economic Development Zone in Zhejiang to produce 138,000 tons of high-performance industrial resin per year. Some of the production facilities for this project were put into operation in August 2023, and the current output volume of the products manufactured is 52,000 tons of industrial resin. With the rapid development of industries such as new energy vehicles, high-speed trains, and aerospace, China’s demand for high-performance resin materials is continuing to rise. As a result, Zhanxin Technology plans to optimize the production lines, capacity, and product portfolio in Workshop 301 and Workshop 302 in 2024, and to carry out a technical upgrade project for a facility capable of producing 138,000 tons per year of high-performance industrial resins (Phase 1). After this upgrade, the total annual production capacity of the plant will be 132,000 tons of synthetic resins along with related additives, as well as 900 tons per year of sodium polyacrylate; this project is currently under construction.
The preliminary plan for Zhanxin Technology’s high-performance industrial resin project calls for an investment of around 200 million US dollars (approximately 1.309 billion yuan). The project will cover an area of about 150 mu, and once completed, it will have an annual production capacity of 138,000 tons. The project will be implemented in two phases; the first phase will require an investment of around 180 million US dollars, with the aim of establishing a facility capable of producing 100,000 tons of high-performance industrial resin per year. This resin will be used in various industries such as high-speed railways, automobiles, electronic products, ships, tires, home appliances, and furniture. The annual output value is expected to exceed 2.5 billion yuan, while tax revenues are expected to be over 200 million yuan. The Zhanxin Technology high-performance industrial resin project is designed to produce 138,000 tons of synthetic resin per year. The types of resins included are acrylic resins with high solid content, water-based acrylic emulsion secondary dispersions, water-based acrylic emulsion primary dispersions, water-based alkyd resins, oil-based alkyd resins, amino resins, phenolic solid resins, phenolic coating resins, water-based epoxy resins, epoxy curing agents, water-based polyurethane dispersions, water-based polyesters, epoxy acrylates, modified epoxy acrylates, polyurethane acrylates, aminated acrylates, photopolymerization monomers, and amino resin catalysts. These resins are widely used in construction, furniture, high-speed rail, and coatings for special applications.
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