On January 6, 2025, Satellite Chemical Co., Ltd. officially launched an annual output of 90000 tons of acrylic acid and 100000 tons of refined acrylic acid installation project in Nanhu District, Jiaxing City. The project covers an area of about 38000 square meters, with a total investment of up to 0.44 billion yuan, marking a solid step taken by satellite chemistry in the field of acrylic acid and ester products, aiming to further enrich its downstream industrial chain and enhance its market competitiveness.

Commencement Ceremony

At the opening ceremony, leaders such as Su Yongqiang, general manager of Jiaxing Base of Satellite Chemistry, Wang Jun and Lu Xuejie, deputy managers, Li Zhongxia, chief supervision engineer of Zhejiang Huajian Supervision Company, Hong Xundong, director representative, Chen Guanghui, party branch secretary of Sinochem Labor Service Company, and other leaders attended the ceremony. The atmosphere at the scene is warm, which indicates that the project will proceed smoothly.

Project economic benefit is remarkable

once the project is completed and put into operation, it is estimated that the new annual output value will reach 1.36 billion yuan and bring 0.195 billion yuan of new annual tax revenue. This measure not only conforms to the market demand for acrylic acid and ester products, but also conforms to the direction of green development of the chemical industry, and will make positive contributions to the construction of ecological Jiaxing and regional economic development.

Satellite Chemical Steady Growth and Solid Market Position

In recent years, satellite chemistry has shown a steady growth momentum. In the third quarter of 2024, the company achieved operating income of 12.874 billion yuan, an increase of 9.89 percent over the same period last year, and net profit attributable to the parent company was 0.163 billion yuan, an increase of 2.08 percent over the same period last year. These data demonstrate the steady performance of satellite chemistry in the market competition and lay a solid financial foundation for its future development.

Acrylic Acid Market Pattern and Price Trend in

the market demand for acrylic acid and ester products continues to grow, thanks to the rapid development of construction, automobile, textile and other industries, as well as the promotion of environmental protection policies. However, the market is also facing the challenge of tight supply. In 2024, the market price of acrylic acid fluctuated within a narrow range of 5800-7300 yuan/ton. Affected by tight supply in December, the average price of acrylic acid in East China rose 1.91 percent month-on-month and 12.85 percent year-on-year. Butyl acrylate prices, on the other hand, declined year-on-year.

Satellite Chemistry Accelerated Industry Chain Layout

since its establishment in 2005,Satellite Chemical has become a leader in the chemical industry. The start of this project is closely related to its strategy of accelerating the layout of the industrial chain. Satellite Chemical has a number of factories that produce acrylic acid and its esters, acrylic resins, polyacrylate slurries, high-absorbent resins and other products, providing a solid foundation for the company's continued growth and industrial chain extension.

in the industrial layout, satellite chemical action frequently. The α-olefin high-end new material industrial park in Lianyungang has a total investment of about 26.6 billion yuan and is expected to be fully completed by the end of 2026. In addition, the annual output of 800000 tons of multi-carbon alcohol project is progressing smoothly, and the two-stage device is in the trial production stage. The 40000-ton EAA project, a joint venture with SK, is also under construction and is expected to be put into production in 2025. The promotion of these projects together constitute the overall strategy of satellite chemistry to accelerate the layout of the industrial chain and enhance market competitiveness.

Future Outlook 

The start of the installation project with an annual output of 90000 tons of acrylic acid and 100000 tons of refined acrylic acid is another important measure for satellite chemistry to accelerate the layout of the industrial chain and enhance market competitiveness. In the future, with the successive completion and commissioning of these projects, Satellite Chemistry will further consolidate its leading position in the chemical industry and promote the development of the entire chemical industry in the direction of high-end, green and sustainable development.