[weekly new material plastic delivery] west lake chemical acquires aci! well-known enterprise exits poe film field, tongde chemical pursues

This week's major news: Westlake Chemical has reached an agreement to acquire the global composite materials solutions business of Portugal's ACI/Perplastic Group; Changhong High-Tech announced its withdrawal from the photovoltaic POE film modified substitute materials and hydrogenated nitrile rubber business fields; Lubrizol has established a Southeast Asia Innovation Center in Singapore; Ningbo Nengzhiguang has been listed on the Beijing Stock Exchange; China Pingmei Shenma Group's subsidiary Pingmei Salt Chemical has initiated IPO counseling; Tongde Chemical has increased its investment in the PBAT new material industry chain integration project, with a total investment amounting to 3.479 billion yuan; SK Group plans to package and sell overseas business units acquired from Dow and Arkema, among others.

In terms of production capacity, Asahi Kasei plans to double the PSPI capacity at its Fuji City plant in Japan to aid semiconductor manufacturing; Akroli's 20,000-ton polyetheramine project at its Qianjiang base has entered the trial production stage, with a 5,000-ton modified epoxy resin project advancing simultaneously; Xinjiang Shanneng Chemical's 800,000-ton coal-to-olefins project has commenced substantial construction of the methanol-to-olefins unit; SABIC Innovative Plastics' 100,000-ton/year thermoplastic engineering plastic alloy project in Fujian has received environmental assessment approval; PetroChina's Dalian refining and chemical integration project has started the environmental impact assessment for land reclamation, with plans to construct a 450,000-ton/year FDPE and a 400,000-ton/year PP unit; Guangxi Petrochemical's refining and chemical integration transformation and upgrading project has completed the cracking furnace drying of its ethylene unit, advancing the construction of 14 major chemical units, including a 400,000-ton EVA unit; CNOOC's Ningbo Daxie Petrochemical refining and chemical integration project has achieved a successful start-up, bringing China's total olefin production capacity to over 10 million tons.

In terms of material innovation and application, Wanhua Chemical and Geely Auto have jointly released automotive-grade light-guiding PC materials, entering the core supply chain for Geely's light-guiding materials; Avient will launch a 50-inch wide continuous glass fiber reinforced UD tape at the CAMX exhibition to enhance production scalability; Lanzhou Petrochemical's 300,000-ton/year full-density polyethylene plant has produced high value-added metallocene polyethylene mPE1012... For more industry updates, please stay tuned for this week's [Weekly New Material Plastics Delivery].

Company News

Westlake Chemical announces acquisition of ACI.Composite Materials Solutions Business

Westlake Chemical Corporation recently announced that it has reached an agreement to acquire the global compounding solutions business of the ACI/Perplastic Group (collectively referred to as "ACI"). ACI is a global specialty materials manufacturer headquartered in Portugal, primarily serving the wire and cable sector. This acquisition will enrich Westlake Chemical's product portfolio.
A well-known large company withdraws from POE.Film market!

On August 28th, it was announced that Changhong Gaoke officially released a notice, declaring the termination of its previously planned external investment to establish a joint venture. The joint venture, which has now been terminated, was originally intended to focus on the production of modified alternative materials for photovoltaic POE film and hydrogenated nitrile rubber.

In August 2023, in response to the development trend of domestic substitution in the new era of new materials, and to precisely meet the market application demands of national key industries such as new energy vehicles and photovoltaic solar energy, Changhong Gaoke and Panjin Shengteng Industrial Development Co., Ltd. reached a consensus for deep cooperation. The two parties plan to jointly conduct research and development on two key products: modified alternative materials for photovoltaic POE encapsulant films and their supporting production process, as well as hydrogenated nitrile rubber and its corresponding production process. According to the "Cooperation Agreement on the Establishment of a Joint Venture Company" (hereinafter referred to as the "Agreement") drafted at the time, Changhong Gaoke and Panjin Shengteng will subscribe to capital contributions in the form of their own or self-raised funds in currency, with Changhong Gaoke subscribing an amount of 225 million RMB and Panjin Shengteng subscribing an amount of 275 million RMB, for a total combined contribution of 500 million RMB. Regarding the equity distribution, Changhong Gaoke will hold 45% of the joint venture company's shares, while Panjin Shengteng will hold 55% of the shares.

Lubrizol establishes Southeast Asia Innovation Center in Singapore.

Recently, Lubrizol announced the establishment of the Lubrizol Southeast Asia Innovation Center in Jurong, Singapore. As an important part of the company's global innovation network, the center aims to deepen regional collaboration, drive localized technology development, meet the evolving market demands, further enhance the delivery of high-value-added solutions, and accelerate the time-to-market for customer products. The project has also received strong support from the Singapore Economic Development Board, which will help further consolidate Singapore's position as a regional hub for innovation, high-end manufacturing, and sustainable development strategies.

Polymer additives company, listed on the Beijing Stock Exchange.

Recently, Ningbo Nengzhiguang New Materials Technology Co., Ltd. (stock code: 920056) was listed on the Beijing Stock Exchange.

This listing event carries special significance as it is not only an important milestone in the development journey of Nengzhiguang but also the first company in Ningbo city to successfully land on the A-share market this year. The company was founded in 2001, with its registered address in Beilun, Ningbo, and it entered the national over-the-counter market system for trading in 2017. As a company with high-tech enterprise qualifications, its core business focuses on the research, development, production, and sales of polymer additives and functional polymer materials.

A subsidiary of China Pingmei Shenma Group has launched an IPO.

According to the official website of the China Securities Regulatory Commission (CSRC), Henan Pingmei Gas Storage Salt Chemical Co., Ltd. completed the guidance filing registration with the Henan Securities Regulatory Bureau on August 26, 2025, intending to launch an initial public offering (IPO) and list its shares. The guiding securities firm is Ping An Securities. The guidance filing report reveals that China Pingmei Shenma Group Co., Ltd. (referred to as China Pingmei Shenma Group) directly holds 72.5047% of the shares in Pingmei Salt Chemical, making it the company's controlling shareholder. Public records indicate that China Pingmei Shenma Group currently controls four listed companies: Pingmei Co., Shenma Co., Yicheng New Energy, and Silane Technology. Additionally, six of its specialized and innovative enterprises are listed on the National Equities Exchange and Quotations (NEEQ).

Tongde Chemical Adds PBATThe investment in the new materials project reached 34.79.

Recently, Tongde Chemical announced an additional investment in its PBAT new material integrated industrial chain project. After adjustment, the total investment in this project amounts to 3.479 billion yuan. PBAT is a biodegradable material widely used in packaging, agriculture, and other fields. The purpose of this investment is to improve the industrial chain layout and enhance market competitiveness. The company stated that upon completion, the project will effectively promote the development of the new materials business and help achieve the goal of green and sustainable development.

For sale as a bundle! Former Dow and Arkema assets are put on the shelf.

On August 26, according to the Korea Economic Daily, SK Group is accelerating its restructuring to acquire new funds, and its subsidiary SKI (SK Innovation) is planning to sell its overseas business units acquired from Dow and Arkema through a bundled transaction.

These businesses include the acquisition of Dow's Ethylene Acrylic Acid (EAA) and Polyvinylidene Chloride (PVDC) businesses in 2017 for $370 million, and the acquisition of Arkema's functional polyolefins business in 2020 for $317 million. These acquisitions once reflected SK's ambition to enter the eco-friendly high-value packaging market, but they are now on a downward path due to post-pandemic oversupply, intensified competition from China, and integration challenges. Meanwhile, this sale is also part of a broader restructuring by the SK Group, involving petrochemical capacity reduction, subsidiary mergers, and multiple asset divestitures, driven by the industry's continued downturn and electric vehicle demand falling short of expectations.

Jilin Petrochemical: Complete Success! ABS from the Synthetic Resin (Carbon Fiber) PlantThe packaging line upgrade has been successfully completed.

After a week of debugging and operation, the second ABS unit's secondary mixing and packaging unit at Jilin Petrochemical's Synthetic Resin (Carbon Fiber) Plant successfully completed the technical transformation task of the "FFS heavy-duty film" on all four packaging lines. The production status of the packaging lines is good, with bags of ABS products being automatically weighed, filled, and sealed, then stacked neatly by robots onto shared pallets and transported to the finished product warehouse. This marks the completion of the upgrade and transformation of all 10 packaging lines across the plant's three ABS units.

Capacity dynamics

Key material capacity expansion! Asahi Kasei Fuji City Plant PSPICapacity plan doubled to support semiconductor manufacturing.

Asahi Kasei recently plans to expand the production capacity of its photosensitive polyimide (PSPI) at the plant located in Fuji City, Shizuoka Prefecture, Japan.

Asahi Kasei's facility in Fuji City, Shizuoka Prefecture, Japan.

PSPI is a critical material in the global electronics industry, primarily used for buffer coatings and passivation layers in the semiconductor field.

PSPI combines the excellent physical and chemical properties of polyimide (PI) with the characteristics of photosensitive materials. It possesses outstanding thermal stability, mechanical properties, and chemical photosensitivity, and is primarily used in photoresists and electronic packaging, making it an important material in the microelectronics field. With the explosive growth of technologies such as AI and 5G, PSPI is experiencing a surge in demand.

Akolite Qianjiang Base 20,000 Tons of polyetheramine, 5000The modified epoxy resin project with a capacity of tons is undergoing trial production.

Recently, according to Qianjiang media, the production workshop of Akoli Technology (Qianjiang) Co., Ltd. is undergoing trial production of 20,000 tons of polyetheramine per year. This project, with a total investment of 1.05 billion yuan, has been under construction for three years and has finally reached a critical milestone, with official production expected to commence this year.

About to start construction! Xinjiang 80 A million-ton coal-to-olefins project →

On August 26, it was reported that Xinjiang Shanneng Chemical held a groundbreaking meeting for the EPC (Engineering, Procurement, and Construction) of the Methanol-to-Olefins (MTO) unit of the Zhundong Wucaiwan project, which has an annual production capacity of 800,000 tons of coal-to-olefins. This marks the formal commencement of the substantial construction phase of the MTO unit. It is understood that the MTO unit is tasked with the core mission of converting methanol into high-value-added olefin products, serving as a key hub in the coal-to-olefins project.

Fujian 9Billion-yuan large-scale plastic project, EIA approval!

On August 27, the announcement of the approval decision for the environmental impact assessment documents of the construction project of SABIC Innovative Plastics (Fujian) Co., Ltd. was released.

Saudi Basic Industries 100,000 tons/year thermoplasticEngineering plasticsThe alloy project is located in the Petrochemical Base of Gulei Port Economic Development Zone, Zhangzhou City, Fujian Province, with a construction content of a production facility for extrusion granulation with an annual output of 100,000 tons.

China National Petroleum Corporation (CNPC) Dalian Refining and Chemical Integration Project Announcement: New Construction of 45 10,000 tons/Year FDPE、4010,000 tons/Year PP...

On August 27, the first public announcement of the environmental impact assessment for the reclamation project of the refining and chemical integration project of PetroChina Dalian Petrochemical Company (Xizhong Island) was made.

I. Basic Information of the Construction Project

Project Name: PetroChina Dalian Petrochemical Branch (West Zhongdao) Refining and Chemical Integration Project

Project Nature: New Construction

Construction site: West Zhongdao Petrochemical Industrial Park, Changxing Island Economic and Technological Development Zone, Dalian City

Construction Content: The project involves land reclamation of approximately 640 hectares. The construction content includes reclamation works and shoreline protection works, and does not include onshore project construction after land formation, nor does it include the operational phase content of the refining and chemical integration project.

Guangxi Petrochemical Refining and Chemical Integration Transformation and Upgrade Project Latest Progress Announced! Includes 4010,000 tons of EVA

On August 21st, the furnace drying work of the ethylene unit's cracking furnace in the Guangxi Petrochemical Refining and Chemical Integration Transformation and Upgrade Project was fully completed, laying a solid foundation for the project's successful feed and startup in October.

The chemical block is set to establish 14 new chemical main units, including a 1.2 million tons/year ethylene unit, a 550,000 tons/year pyrolysis gasoline hydrogenation unit/styrene extraction joint unit, a 180,000 tons/year butadiene extraction unit, a 100,000/60,000 tons/year MTBE/butene-1 unit, a 350,000 tons/year aromatics extraction unit, a 400,000 tons/year full-density polyethylene unit (FDPE), a 300,000 tons/year high-density polyethylene unit (HDPE), a 300,000 tons/year tubular ethylene-vinyl acetate unit (EVA), a 100,000 tons/year kettle ethylene-vinyl acetate unit (H-EVA), a 400,000 tons/year polypropylene unit (PP), a 50,000 tons/year hexene-1 unit, a 270,000/600,000 tons/year propylene oxide/styrene unit (PO/SM), a 300,000 tons/year polystyrene unit (PS), and a 120,000/80,000 tons/year solution polymerized styrene-butadiene rubber integrated unit (SSBR/SBS).

CNOOC: Successful Start-up on First Attempt

Recently, China National Offshore Oil Corporation (CNOOC) announced the successful commissioning of the major project in the national petrochemical industry planning layout, the CNOOC Daxie Petrochemical Refining and Chemical Integration Project (hereinafter referred to as Daxie Petrochemical), in Ningbo, Zhejiang. This milestone achievement marks the addition of new capabilities to the largest petrochemical industrial base in China, with the total olefin production capacity successfully surpassing the 10 million-ton mark, injecting strong impetus into the independent and controllable development of China's high-end chemical materials.

Innovative Materials

Wanhua latest! Automotive-grade light-guiding PCMaterial Collaboration Achievements Release

On August 27, Wanhua Chemical and Geely Automobile jointly announced the cooperation results of automotive-grade light-guiding polycarbonate (PC) materials, making Wanhua the first Chinese company to enter Geely Automobile's core supply chain for light-guiding materials in car lamps. This marks another breakthrough following the certification of headlamp cover materials by Hyundai Kia Group, the world's third-largest automaker, in March of this year.

Wanhua Chemical's automotive-grade light-guiding PC material Clarnate® LED1355 addresses the issue of PC yellowing by optimizing the polymerization process, significantly enhancing the product's purity and anti-aging properties. It achieves industry-leading levels in optical characteristics, processing stability, and long-term weather resistance. This material has been successfully applied in the lighting design of several car models, including Zeekr and Geely.

Evanite will launch continuous glass fiber reinforced UD.Tape, to improve production scalability.

Evanite Corporation will showcase its portfolio of advanced composite materials and engineering fiber solutions at the upcoming Composites and Advanced Materials Expo (CAMX) taking place from September 9 to 11. This includes the introduction of its new Polystrand™ 50-inch wide continuous fiber reinforced thermoplastic unidirectional tape and GridCore™ composite utility poles.

Evant's new PolyChain™ tape offers wide-width fiberglass-reinforced unidirectional composites, which can enhance manufacturing efficiency and scalability.

China Petroleum Lanzhou Petrochemical Expands Metallocene Polyethylene Product Series Again

Recently, good news came from the Lanzhou Petrochemical Quality Inspection Center. The parameters of the newly produced metallocene polyethylene product mPE1012 from the 300,000-ton/year full-density polyethylene unit all meet the product quality standards. This is the first batch of mPE1012 produced by this unit this year.

mPE1012 is a high value-added membrane material product with advantages such as high strength, good tear resistance, strong light transmission, and good sealing properties. It has broad prospects in applications such as high-strength greenhouse films, high-end food packaging films, shipping bags, heavy-duty packaging bags, and multi-layer composite film products.

Material Application

INEOS Styrolution expands supply of recycled polystyrene, eco-friendly dairy packaging spreads throughout German supermarkets.

INEOS Styrolution has recently achieved a major breakthrough in the field of circular packaging: since the beginning of this year, sour cream cups made with 30% recycled polystyrene have been fully introduced in many ALDI SÜD stores in Germany. This innovative achievement, developed in collaboration with partners ALDI SÜD and the Theo Müller Group, marks a critical step towards the large-scale commercialization of sustainable food packaging. In July 2025, this sour cream cup was awarded the German Packaging Award in the "Sustainability: Recycled Material Content" category.

Edited by: Lily