China Jiangsu Huid New Material 600000 Tons Polyurethane New Material Project Started

Project core elements and strategic layout

on January 19, 2026, Jiangsu Huid New Materials launched a new polyurethane material project with an annual output of 600000 tons with a total investment of 2 billion yuan in Taixing Economic Development Zone. The project covers an area of 222 mu and adopts the mode of "one-time planning and three-phase construction". The construction period is 22 months, 12 months and 14 months respectively, resulting in a comprehensive production capacity of 750000 tons (600000 tons of export +150000 tons of internal matching).

Taixing has three advantages: perfect chemical industry supporting facilities, convenient Yangtze River water transportation channel, and logistics radiation capacity to the core market of East China. The project is about 400 kilometers away from Shandong sporting goods leather base (freight 150-200 yuan/ton) and about 300 kilometers away from Anhui automobile industry cluster (freight 120-150 yuan/ton). Compared with other regional suppliers, it can save 30%-50% of logistics costs, which constitutes a significant competitive advantage in the trade of chemicals with relatively low unit value such as polyurethane.

The industrial logic of phased construction

phase I (305000 tons): cash flow cornerstone
focus on 95000 tons of polyester polyol, 160000 tons of leather polyurethane resin, 20000 tons of polyurethane glue and other mature products, quickly cut into the shoe leather, furniture leather market. Among them, polyester polyol self-produced supporting can reduce the cost of raw materials, 160000 tons of leather resin scale will form a regional pricing influence. It is worth noting that 20000 tons of polyurethane glue has entered the sample trial stage with the head new energy vehicle enterprises, in order to penetrate the high-end market pre-buried pipeline.

Phase II (245000 tons): Value added jump
focus on the layout of polyurethane liquid, to meet the elastomers, coatings, sealants and other downstream needs. Compared with the first phase of the product, the technical threshold of the original solution is higher, the application field is more dispersed (runway, floor, waterproof coating, etc.), and the anti-cycle ability is stronger. The construction cycle has been reduced from 22 months to 12 months, reflecting the efficiency gains from the accumulation of experience.

Phase III (200000 tons): Import substitution breakthrough
layout of high-end products such as waterborne polyurethane and polycarbonate polyols. The VOC emission of waterborne polyurethane is close to zero, which is in line with the "double carbon" policy orientation. Polycarbonate polyols are widely used in automobile interior decoration, high-end shoe materials and other fields due to their excellent hydrolysis resistance and weather resistance. However, domestic production capacity is limited, high-end products mainly rely on imports, and the price per ton is 3000-5000 yuan higher than that of ordinary polyester polyols. The gross profit margin of the third phase of products can reach 20%-25%, far exceeding the 15% level of traditional products.

Capacity Digestion Path and Market Opportunities

the project ensures capacity digestion through a three-dimensional strategy:

regional deep ploughing: Relying on the Taixing base to radiate Shandong's 500000 tons/year sporting goods leather demand and Anhui's fast-growing new energy vehicle market, the logistics cost advantage is obvious.

Strategic Binding: Deepen cooperation with international Tier 1 suppliers such as World Union Group, while accelerating the introduction of domestic new energy vehicle supply chain. In 2025, China's new energy vehicle production and sales exceeded 10 million, single-vehicle polyurethane glue consumption of 3-5kg, corresponding to the annual demand of 3-50000 tons and sustained high growth.

structural optimization: Increase the proportion of solvent-free resins, the overall gross margin is expected to increase from 15.41 in the first phase to 18%-20%.

Industry Value and Key Points of Concern

the project is a microcosm of the transformation and upgrading of the polyurethane industry: the application is transferred from traditional shoes and clothing leather to new energy vehicles, electronic packaging and other emerging fields; the technology is upgraded from solvent-based to water-based and solvent-free; the industrial chain extends to the integration of raw materials.

It is recommended to focus on tracking: the outbreak of demand in high-growth market segments such as polyurethane glue for new energy vehicles, the import substitution process of waterborne polyurethane and polycarbonate polyols, the impact of the centralized release of production capacity in East China on the regional price system, and the growth opportunities of upstream raw material procurement demand brought about by the expansion of leading projects.