The commencement ceremony of major projects built in Zibo city was held on August 28,2022. It set up a branch venue in Huantai County for the PVDF expansion project of Shandong Huaxia Shenzhou New Materials Co., Ltd. and its supporting project, the VDF expansion project. Huantai County invested 9.1 billion in 17 major projects in the third quarter which include new materials, high-end equipment manufacturing and other fields. They will bring vitality to Huantai’s economic growth.
Huaxia Shenzhou plans to invest 2,040,210,500 yuan(nearly 300 million USD) for the construction of 30,000 tons/year PVDF project and its supporting 35,000 tons/year VDF project,which would be used for new energy. The construction includes VDF monomer equipments,PVDF polymerization equipments, PVDF post-processing workshop, R142b tank groups, VDF tank groups, hydrochloric acid tank group, etc. The project is expected to be completed and put into operation in July 2023, with an annual output of 35,000 tons of VDF and 30,000 tons of PVDF.
The semi-annual report shows that in the first half of 2022, the business volume of DongYue Group’s fluoropolymer segment has increased significantly. The reason is that since last year, the rise of China’s lithium battery industry has led to a surge in demand for PVDF year-on-year, and the product price has increased obviously compared to the same period. The market situation of this product continues the trend in the second half of last year and PVDF for lithium battery will be in short supply. Therefore, DongYue Group has plans to expand the production of this product constantly. DongYue Group plans to reach a total production capacity of 55,000 tons/year in 2025.
At present, the new 10,000-ton/year PVDF project of DongYue Group is expected to be completed and put into operation in October,2022. It is estimated that the production capacity of DongYue Group’s PVDF products will reach 25,000 tons/year by the end of the year.
Post time: Aug-31-2022