On November 8th, the second phase of the special amine project of Evonik Specialty Chemicals (Nanjing) Co., Ltd., a wholly-owned subsidiary of Germany’s Evonik Industries Group, grandly started construction in Nanjing New Materials Science and Technology Park. The investment in the second phase of the special amine project is over 100 million yuan, and after completion, it will significantly increase the annual production capacity of special amine products.
Specialty amines are the core raw materials for the two key markets of polyurethane and epoxy curing agents. This increase in production capacity will consolidate Winco’s position in the industry chain and give it a stronger voice in the fiercely competitive chemical market. With the continuous growth of global demand for polyurethane and epoxy curing agents, the increase in production capacity of Evonik can better meet market demand and ensure the stability of the supply chain.
The project will expand within the existing factory area, utilizing energy-saving and environmental protection technologies and equipment to significantly reduce energy consumption and pollution during the production process, achieving green production. This not only ensures the high quality and efficiency of specialty amine products, but also makes them more competitive in the market.
Special amine products have a wide range of applications, involving multiple industries such as transportation, nutrition, medicine, plastics, etc. For example, in the transportation industry, specialty amines are used in the production of automotive component materials, which can improve the performance and durability of components and ensure driving safety; In the field of medicine, it assists in the synthesis of drugs and the production of packaging materials, ensuring the stability of drugs during storage and transportation.
After signing a letter of intent with the Nanjing Municipal Government in November 2023, Yingchuang quickly began project preparation work. The project is scheduled to be completed in 2026, with an estimated construction period of 15 months. In the third quarter of 2024, Evonik’s financial report was impressive, with EBITDA increasing by 19% and sales growing by 2% year-on-year, thanks to the recovery of global demand for chemical products and the improvement of internal production efficiency.
In terms of innovation strategy, Evonik focuses on biobased solutions, energy transformation, and circular economy. In terms of innovation strategy, Evonik focuses on biobased solutions, energy transformation, and circular economy, closely revolving around global sustainable development trends. In the field of energy transformation, Winco has integrated a series of related technologies and is committed to developing carbon dioxide capture solutions. The gas separation membrane produced by the Austrian base is one of the important achievements in this field, which can efficiently purify gases such as biomethane, improve energy utilization efficiency, and reduce greenhouse gas emissions. In addition, Winchuang is actively researching other gas separation membrane solutions such as hydrogen production, providing key technical support for the global energy transition.
In the field of circular economy, Yingchuang is fully committed to promoting the closed-loop circulation of materials by integrating multiple projects. Its advanced catalyst recycling method can effectively decompose and reuse polyurethane or rubber waste, improve resource utilization, reduce the pressure of waste on the environment, and provide new ideas and solutions for the sustainable development of the chemical industry.
Yingchuang is actively taking action in business adjustments and advancing the transformation of its product portfolio towards high profit growth businesses as planned. The transfer of the super absorbent business on August 31st is an important step in this strategic adjustment. Although the super absorbent business has brought profits to Winco for a certain period of time, with the intensification of market competition and the company’s strategic focus, transferring it can enable Winco to focus more on its core business. In addition, Yingchuang will also restructure its pharmaceutical and health and specialty polymer business lines, divesting approximately 350 million euros in sales revenue.
In summary, the commencement of the second phase of the Yingchuang special amine project is not only the launch of a single project, but also an important manifestation of Yingchuang’s coordinated development in finance, innovation, and business adjustment under the global development strategy.
