According to Evonik, the business generated annual sales of approximately ￥150 million but had suffered persistent operational pressure for years. Intensified global competition, high costs in Europe, and changing market conditions were the primary reasons behind the final decision to close. Evonik had previously attempted to sell the business at the end of 2024 but failed to find a sustainable solution.
For downstream customers, how to identify alternative suppliers with both technical capability and production capacity has become a critical issue.
Xuchuan Chemical ranks among the industry's top players in global market share for polyester polyols. It operates five modern production bases with an annual capacity of 1.2 million tonnes, and its polyester polyol products are exported to more than 80 countries and regions.
On the product front, Xuchuan Chemical has built a comprehensive polyester polyol portfolio covering applications in woodworking, textiles, packaging, and more. In addition, its crystalline polyester polyol series (e.g., XCP‑R3871, XCP‑R3370) and low-modulus series (e.g., XCP‑4420DI) offer further options for diverse application scenarios. These products feature competitive performance in terms of good initial tack, fast curing, high strength, odorlessness, and high barrier properties.
In terms of production capacity assurance, Xuchuan Chemical launched an environmental impact assessment for a new project in June 2026, which includes 30,000 tonnes per year of high-performance, eco-friendly PUR hot-melt adhesives and 13,000 tonnes per year of high-performance polyester polyols. Against the backdrop of Evonik's planned polyester capacity closure, Xuchuan's expansion plan could serve as a potential cooperation option for downstream customers.