1. Basic Overview of Project
recently, china Fujian Baihong Chemical key new materials projects usher in key nodes, located in quangang Petrochemical Park, Quanzhou, China the 150000-ton/year maleic anhydride core plant was started and put into operation at one time, which is the largest single set of maleic anhydride production plant in South China. It marks that the first phase of the project has officially entered the trial production stage and complements the short board of the supply chain of fine chemical and new energy raw materials along the southeast coast of China.
The 10 billion level project was invested and constructed by Fujian Baihong chemical, with a total investment of 13.8 billion yuan and an area of 1040 mu; the enterprise was registered and established in December 2021 with a registered capital of 3.9 billion billion yuan. The project relies on the park's mature petrochemical support, with positive butane, ethylene oxide, propylene oxide as the core raw materials, focusing on fine chemicals, new energy materials two high-end track, relying on localized raw materials supporting solid cost competition base.
2. core process and industry technology advantage
the production unit adopts the industry mainstream n-Butane Oxidation Process, by Changzhou Ruihua Chemical to provide technical license, China Chemical 16 chemical construction. Compared with the traditional benzene oxidation process, the technology has higher raw material conversion rate, lower energy consumption and pollutant emissions, and the level of greening and intelligence ranks in the forefront of the industry.
The current global maleic anhydride industry iteration trend is clear, high pollution, high energy consumption of benzene production capacity continued to clear, the world's new production capacity are mainly butane method. The commissioning of this unit is in line with the global trend of low-carbon chemical upgrading, and further enhances the standardization and export competitiveness of China's high-end maleic anhydride products.
3. the whole industry chain layout and production sequence
the project will build a closed-loop integrated industrial cluster and plan two sets of 150000 tons/year maleic anhydride plants with a total production capacity of 300000 tons/year. The industrial chain extends downstream to high-end categories such as carbonates, specialty chemicals and pentaerythritol, covering high-prosperity areas such as degradable plastics, photovoltaic materials, lithium-ion electrolyte solvents and textile auxiliaries.
The project landed in stages with a clear pace of production: the first phase of the 150000-ton maleic anhydride plant has now been put into production; The carbonate joint plant will be put into operation in October 2025. Special chemical plant on the ground in August 2027; Pentaerythritol plant will be put into operation in July 2028. The project relies on the internal material mutual supply and by-product recycling mode, which greatly reduces the cost of raw material procurement and logistics, and has a strong integrated cost advantage.
Interpretation of 4. Industrial Pattern and Overseas Trade
regional level, previously south China long-term supply shortage of maleic anhydride, highly dependent on East China, North China cross-regional transportation. This large-scale device put into operation directly to fill the southeast capacity gap, shorten the downstream supply chain radius, significantly reduce the cost of regional supply circulation, domestic cross-regional arbitrage space will continue to shrink.
industry level, the core value of the project is maleic anhydride carbonate double track layout: Maleic anhydride is a biodegradable plastic, BDO core intermediate, carbonate is the key raw material of lithium-electric electrolyte, the dual-main line layout can hedge the risk of a single product cycle, improve China's carbon four fine chemical and new energy new materials industry matrix.
Trade end, South China local maleic anhydride spot circulation will steadily increase, regional supply self-sufficiency rate improved, dependence on foreign supply decreased. After the long-term carbonate device landed, will rewrite China's southeast electrolyte raw materials market pattern, new domestic high-end sources can hedge import dependence, with export to Southeast Asia, Asia-Pacific market potential. Overseas practitioners can focus on tracking the device load climbing, product export ratio and downstream high-end certification progress, grasp the domestic substitution and regional price difference opportunities.
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