On 29th February, 2020, Zhejiang Yongtai Technology announced that it plans to invest in a new fine chemical industrialization project located in the low-carbon industrial park of the Wuhai Economic Development Zone in Inner Mongolia, China. As part of the project, it established the wholly-owned subsidiary, Inner Mongolia Yongtai Chemical, on 22nd October, 2019, which plans to invest Yuan60 million in the project’s Phase 1.
Phase 1 of the project, which is expected to be completed within two years, aims to have a production capacity of 18,715 tons of fine chemicals, 30,000 tons of potassium fluoride and co-productions, 11,600 tons of potassium chloride, 660 tons of sodium sulfate, 3,460 tons of silicon dioxide, 11,700 tons of calcium sulfate, 7,200 tons of calcium chloride, 10,000 tons of hydrochloric acid 30%, and 1,070 tons of hydrobromic acid 25%.
The market for fluorine-containing intermediates has shown steady growth, with an estimated annual growth rate of some 5%, while the market for fluorine-containing aliphatic compounds, fluorine-containing heterocyclic compounds and functional agents have appeared to be growing rapidly, with an estimated annual growth rate of 20% to 30%. With regards to fluorine-containing pesticides, major research studies focus on herbicides, which account for about 50% of total research. Among the newly developed pesticides, fluorine-containing aromatic ring and fluorine-containing heterocyclic compounds account for the majority, and are standout parts of the development of modern pesticides.
Yongtai Technology has accumulated rich marketing experience in fine chemicals. After years of market development, the company has established a broad and stable sales network backed by high-standard and high-quality products. The company now has many stable customers, with products being widely sold in the United States, Europe, Japan and India.