Production capacity planning and supply-demand pattern of the alicyclic diol 1,4-cyclohexanedimethanol (CHDM)

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1,4-Cyclohexanedimethanol (CHDM) is a alicyclic diol with the molecular formula C₈H₁₆O₂. In the first quarter of 2026, the price of domestic CHDM was 28,000–30,000 yuan per ton, while the import price was 33,000–34,000 yuan per ton, representing a year-on-year increase of 15%–20%. With the expansion of domestic production capacity for high-end polyesters such as PETG, the demand for CHDM continues to grow. The process of localization is accelerating, and the industry has entered a period of structural prosperity. I. Product Definition and Characteristics CHDM is a high-performance upgrade of ethylene glycol and neopentyl glycol. It combines cyclic rigidity with high reactivity of its two terminal primary hydroxyl groups, making it a key copolymerization monomer for synthesizing high-end polyesters such as PCT, PETG, and PCTG. Its core advantages are high transparency, impact resistance, hydrolysis resistance, heat resistance, and food-contact safety, which address the shortcomings of conventional PET. At room temperature it is a white waxy solid; its melting point ranges from 43°C to 70°C depending on the cis-trans isomer, and it is soluble in polar solvents such as ketones, with a purity of ≥99%. II. Market Applications: In 2024, the apparent domestic consumption volume was 50,000 tons. It is expected that domestic demand will reach 100,000 tons by 2030. High-end polyesters are the key driving force; the global PETG market size is expected to grow to over 19 billion yuan by 2029. The core applications are concentrated in PETG/PCTG/PCT, which are used in food packaging, medical devices, 3C device casings, and automotive components, among others ； It is also a key raw material for polyester fibers, engineering plastics, as well as high-performance coatings and resins. III. Production Process and Technical Source: The mainstream industrial production process worldwide is the two-step hydrogenation method for dimethyl terephthalate (DMT), which features mature technology and high yields. This technology was long monopolized by companies such as American Eastman and South Korean SK Chemical. With domestic technology, the Dalian Institute of Chemical Physics under the Chinese Academy of Sciences, in collaboration with Keling Chemical, successfully put the first 10,000-ton-scale industrial facility into operation in 2014, breaking the international monopoly. Liaoyang Petrochemical’s 20,000-ton/year industrial demonstration plant was also successfully commissioned in 2022. At present, new domestic plants (such as Xuchang Jinmeng Polymer Materials) still primarily use the mature DMT hydrogenation method. The direct hydrogenation method for terephthalic acid (PTA) is still under research and optimization as a cost-effective development direction. IV. Major Manufacturers and Production Capacity The global market is highly concentrated; in 2024, the top three manufacturers (Escheman, SK Chemical, and Jiangsu Kangheng Chemical) accounted for approximately 93.0% of the market share. International giants include Eastman, SK Chemical, and others. Leading domestic companies that have achieved large-scale production include: Kailing (Zhangjiagang) Chemical Co., Ltd. (20,000 tons per year, started production in 2014), China National Petroleum Corporation’s Liaoyang Petrochemical Branch (20,000 tons per year), and Jiangsu Kangheng Chemical Co., Ltd. Xuchang Jinmeng Jucail Technology Co., Ltd.’s 30,000 tons per year production project was approved in June 2025, with a construction period from June 2025 to December 2026 ； Its 30,000 tons per year expansion project was approved in January 2026, with a construction period from March 2026 to March 2027. Upon completion, the company’s total production capacity will reach 60,000 tons per year. The 30,000-ton capacity expansion project of Shangyu Shenghui Chemical Co., Ltd. was also approved for registration in March. V. Capacity Planning and Supply-Demand Landscape: Domestic capacity is expanding rapidly. According to projections, by 2030, China’s CHDM production capacity is expected to exceed 100,000–150,000 tons. Domestic demand is expected to be around 80,000 tons in 2026. With the progress of projects such as Kailing Chemical, Liaoyang Petrochemical, and Xuchang Jinmeng, domestic supply capacity will continue to increase, but high-end grades (such as those with specific cis-trans ratios or pharmaceutical grade) still rely to some extent on imports. Affected by raw material costs and supply-demand dynamics, CHDM prices are expected to remain strong. VI. Profit Margins and Development Trends Due to technical barriers and supply-demand dynamics, CHDM products command a high premium, resulting in substantial profit margins for the industry. The development trends are clear: First, the substitution of domestic products is accelerating; as production capacity increases, the self-sufficiency rate will rise steadily ； Second is the greening of technologies; chemical recycling methods using recycled PET as raw material and bio-based CHDMs have become important areas of research and development ； Third is the advancement of product quality; the demand from downstream industries for high-performance, specialized polyesters drives continuous improvements in CHDM quality ； Fourth is industrial chain integration, with large enterprises expanding upstream and downstream to consolidate their cost advantages. The core logic behind the positive outlook for these five industries remains unchanged: demand for high-end polyester products in downstream sectors is on the rise; breakthroughs have been achieved in technologies that were previously under international monopoly; large-scale production capacity is being developed domestically, and the market prospects are clear