Shandong Aojiali 1.664 billion high-end resin project started bidding, the layout of the two cities with a total production capacity of 1.4 million tons refers to the reconstruction of the domestic resin pattern.

On June 29, 2026, there was a big news in Haiyou Chemical Industry Park, Ju County, Rizhao City, Shandong Province, China. Shandong Aojiali New Materials Co., Ltd. "High-end Phenolic/Benzoxazine Resin and Special Epoxy Resin Project" is about to start bidding, and the countdown to landing construction is entering.

Project scale: 700000 tons of phenolic resin +200000 tons of special epoxy resin in two phases

the Ju County project has a total investment of 1.664 billion yuan and covers an area of 320 mu. It adopts a two-phase overall construction method. Phase I construction of phenolic/benzoxazine resin 350000 tons/year, special epoxy resin 100000 tons/year, supporting formaldehyde 180000 tons/year; Phase II construction of phenolic/benzoxazine resin 350000 tons/year, special epoxy resin 100000 tons/year, supporting formaldehyde 90000 tons/year. The two phases total phenolic/benzoxazine resin 700000 tons/year, special epoxy resin 200000 tons/year, formaldehyde 270000 tons/year.

Formaldehyde as one of the core raw materials of phenolic resin, 270000 tons/year supporting capacity to achieve self-sufficiency of raw materials, effectively reduce production costs, build a complete closed loop of raw materials-this is the key advantage of the project in the cost competition level.

Twin City Layout: Replication of the same subject strategy, rapid expansion in Shandong

juxian project is not an isolated event, hidden behind a strategic layout worthy of in-depth interpretation.

Deeply digging into the shareholder structure, it can be found that Shandong Aojiali has exactly the same production capacity planning as the Shandong Aggerson Environmental Protection New Material High-end Resin Project, which landed in Zibo City, Shandong Province, China in July 2025-also planning 700000 tons/year high-end phenolic/benzoxazine resin, 200000 tons/year special epoxy resin and 270000 tons/year supporting formaldehyde plant. The two companies share the same shareholder-Shanghai Finolick New Material Technology Co., Ltd., the legal person is Li Yongbin, belong to the same subject in Shandong in the two-city large-scale strategic replication.

This layout logic is clear and has typical demonstration significance: the rapid replication of standardized project solutions in different parks, the reduction of unit costs through scale effects, and the simultaneous dispersion of regional supply risks are typical paths for China's chemical industry head enterprises to accelerate capacity expansion. For industry observers, the emergence of this model indicates that the main body's intention to expand in the resin field is much more than that, and the layout dynamics of other parks in the future are also worthy of continuous tracking.

Industry impact: 1.4 million tons of new production capacity concentrated release, small and medium-sized resin enterprises under pressure

after the two major projects are fully completed and put into operation, Shandong, China, will add 1.4 million tons/year of high-end phenolic/benzoxazine resin and 400000 tons/year of special epoxy resin, with the total new capacity scale belonging to the top level in the same category in China.

From the downstream application point of view, phenolic resin and benzoxazine resin are widely used in copper clad laminate, friction material, grinding wheel grinding tool, fire prevention and heat preservation and other fields. Special epoxy resin is the core substrate of electronic packaging, wind turbine blades and aviation composite materials. Both types of products belong to the subdivision track with rapid demand growth in high-end chemical products, and the market space is supported.

However, the impact of the volume of 1.4 million tons of phenolic/benzoxazine resin on the existing supply pattern cannot be underestimated. Once the production capacity of the two cities is put into production, the market space of small and medium-sized resin manufacturers will be significantly squeezed, and the pricing power will accelerate to the concentration of large-scale and integrated head enterprises-which is highly consistent with the trend of increasing the overall concentration of China's chemical industry.

For the special epoxy resin market, the new production capacity of 400000 tons/year is concentrated in Shandong, which will form direct competitive pressure on the regional pricing of existing suppliers in East China. Overlay the recent Anhui Hengtai 30000 tons/year high-performance epoxy resin project put into operation, CNOOC Shell Huizhou PC project promotion and other multi-point layout, the trend of domestic high-end resin localization speed is from multiple directions to strengthen simultaneously, the high dependence on imports of varieties of substitution pressure will continue to increase.

Follow-up Key Observation Nodes

juxian project is about to start bidding, marking the official speed of construction. Combined with the Zibo Egson project in July 2025 has landed the time node, the two projects of the production time window there are differences, Zibo project is expected to form an earlier capacity release.

For downstream users and traders related to phenolic resin, benzoxazine resin and special epoxy resin, it is suggested that the official commencement announcement of the two major projects and the delivery time of the first batch of devices should be included in the key tracking framework-the time node of centralized release of 1.4 million tons of production capacity in Shuangcheng, which will be the core variable to judge the turning point of supply and demand in China's domestic resin market and the timing of downward shift of price center.