Changhua Chemical Technology Co.

What Changhua Chemical Technology Co. does

Changhua Chemical Technology Co., Ltd. is a China-based specialty polyether polyol manufacturer founded in 2010 and headquartered in the Yangtze River International Chemical Industry Park in Zhangjiagang, Jiangsu Province. The company designs, produces, and sells a portfolio of polyether polyol products across six core lines — polymer polyols (POP), general flexible foam polyethers, high-resilience polyether polyols, slow-rebound (memory foam) polyethers, CASE (coatings/adhesives/sealants/elastomers) polyethers, and specialty polyethers — serving mid-to-high-end B2B customers in automotive seating and interiors, furniture and soft furnishings, footwear, garments, and CASE industrial applications. Its core manufacturing technology relies on propylene oxide and ethylene oxide ring-opening polymerization, supplemented by proprietary polymer dispersion stabilizer technology, low-unsaturation polyether synthesis, and BHT-free / amine-free formulation capabilities.

The company's most strategically significant asset is its Carnol™ product line — CO2-based polycarbonate ether polyols produced using licensed catalyst technology from Econic Technologies. In March 2026, Changhua inaugurated what it describes as the world's first commercial-scale CO2-based polycarbonate ether polyol production facility in Lianyungang, targeting approximately 80,000 tonnes in 2026 with stated plans to scale to over one million tonnes; the products are reported to carry approximately 30% lower carbon footprint than conventional polyols. The company operates five in-house research institutes with 40 R&D personnel, holds 28 invention patents and 24 utility model patents, and runs six regional marketing centers across China plus a dedicated overseas business division. It is publicly listed on the Shenzhen Stock Exchange under ticker 301518, with a reported stock price of ¥23.39 as of July 2026.

Changhua generates revenue primarily through direct B2B sales of its polyether polyol products, with pricing negotiated by volume and customer relationship rather than publicly disclosed list pricing. Its go-to-market combines six regional marketing centers (Eastern China, Southern China/Zhejiang-Fujian, Northern China, Northeast China, Southwest, and Southern China/Guangdong) with dedicated product divisions including the Carnol Division, the Transportation Equipment Division for automotive materials, the Special Polyether Division, and the Overseas Business Division based in Shanghai. The company is pursuing a multi-pronged international expansion through licensing MOUs with Monument Chemical (US), Manali Petrochemicals (India), Sanyo Chemical (Japan), PTT Global Chemical (Thailand), and Chimcomplex (Romania), positioning Carnol™ as a globally distributed low-carbon polyol platform rather than a purely Chinese product.

Name

Changhua Chemical Technology Co.

Legal name

长华化学科技股份有限公司

Website

https://chchem.com.cn

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

101–250 employees

Short description

Changhua Chemical Technology Co. is a Chinese specialty polyether polyol manufacturer serving B2B customers in automotive, furniture, footwear, garments, and CASE applications, including the newly commercialized Carnol™ CO2-based polycarbonate ether polyol platform.

Ownership category

akta.pro rank

Product category

Polyurethane Raw Materials

NAICS

Resin and Synthetic Rubber Manufacturing (32521), Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments Manufacturing (3252), Custom Compounding of Purchased Resins (325991)

SIC

Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Industrial Organic Chemicals (2860)

akta.pro primary industry

Polyurethanes (MDI/TDI, Polyols, PU Systems) (IMAEADAH)

akta.pro secondary industries

Biodegradable Polymers & Resins (PLA, PHA, PBS, PBAT) (IMAEAOAA), Engineering Thermoplastic Compounds (PA/PBT/PC/POM/PPS/PEEK) (IMANABAB)

Keywords

• Polyether polyol manufacturing
• Polyurethane raw materials
• Polymer polyol production
• CO2-based polycarbonate polyols
• Polyurethane foam chemicals

Headquarters

HQ city

Zhangjiagang

HQ country

China

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Polyether Polyol Product Sales: Changhua Chemical generates revenue primarily from manufacturing and selling polyether polyol products, including polymer polyols, high-reactivity polyether polyols, general flexible foam polyethers, slow-rebound polyether polyols, CASE polyether polyols, and specialty polyether polyols to mid to high-end customers in furniture, automotive, footwear, and other industries.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Changhua Chemical manufactures and sells polyether polyol chemical products across six product lines — Polymer Polyols (POP), General Soft Foam Polyether Polyols, High Resilience Polyether Polyols, Slow Rebound Polyether Polyols, CASE (Coatings, Adhesives, Sealants, Elastomers) Polyether Polyols, and Special Polyether Polyols — to mid-to-high-end B2B customers in the automotive, furniture, footwear, garments, and CASE industries. The company also launched Carnol™, CO2-based polycarbonate ether polyols using licensed Econic Technologies catalyst technology, manufactured at the world's first commercial-scale facility in Lianyungang, offering approximately 30% lower carbon footprint than conventional polyols.

Product overview

Changhua Chemical Technology Co. is a polyether polyol manufacturer and supplier headquartered in Zhangjiagang, Jiangsu Province, China, founded in 2010. The company offers a comprehensive portfolio of polyether polyol products across six main product lines: Polymer Polyols (CHP series), General Soft Foam Polyether Polyols (CHE series), High Resilience Polyether Polyols (CHE series), Slow Rebound Polyether Polyols (CHK/CHE series), CASE Polyether Polyols for coatings/adhesives/sealants/elastomers, and Special/Specialty Polyether Polyols (including PEG series, defoamers, and surfactants). A notable recent addition is Carnol™ polyols — CO₂-based polycarbonate ether polyols produced using licensed Econic Technologies technology at a commercial-scale facility in Lianyungang, targeting low-carbon footprint applications with approximately 30% lower carbon emissions versus conventional polyols. The company's products are marketed under brands including Hiclaim® (e.g., Hiclaim® 2901L) and serve industries such as automotive, furniture/soft furnishings, footwear, garments, CASE (coatings/adhesives/sealants/elastomers), and sporting goods. Key product technical differentiators include BHT-free, amine-free, low odor, low VOC, and low formaldehyde formulations.

Differentiator

Problem solved

Functional benefit

Brands

• Carnol™: CO₂-based polycarbonate ether polyol products marketed under the Carnol™ brand, produced using Econic Technologies' proprietary technology, offering approximately 30% lower carbon footprint compared to conventional polyols.
• Hiclaim®

Products and services

• Polymer Polyols (聚合物多元醇, CHP and CHE series) Graft polyether polyols (POP) made via free-radical grafting of acrylonitrile and styrene onto general polyether polyols, with proprietary polymer dispersion stabilization providing high solid content, low viscosity, and no stratification/precipitation. Used for high-hardness flexible slabstock foams, flame lamination foams, high-resilience molded foams, and semi-rigid polyurethane foam products. B2B chemical product sold to polyurethane foam manufacturers.
• General Soft Foam Polyether Polyols (通用软泡聚醚多元醇, CHE series) Standard polyether polyols (molecular weight ~3000) in BHT-free formulations for block foam, mattresses, furniture, and packaging materials. Available across high, medium, and low-density foam production. B2B chemical input for soft foam manufacturers serving furniture and packaging.
• High Resilience Polyether Polyols (高回弹聚醚多元醇, CHE series) High-molecular-weight, high-reactivity polyether polyols (molecular weight 5,000–12,000) in BHT-free and amine-free formulations with low odor and low VOC properties. Used for automotive seat cushions, steering wheels, dashboard filling, and high-resilience cold-curing foam. B2B raw material for automotive seating and premium foam producers.
• Slow Rebound Polyether Polyols (慢回弹聚醚多元醇, CHK/CHE series) Specialty polyether polyols engineered for slow-rebound (memory foam) applications, including MDI-based gas-releasing slow rebound block and molded foams plus ultra-soft foams. Used in bedding (pillows, mattresses), seating, carpets, and sports protective equipment. B2B chemical input for memory foam and comfort products.
• CASE Polyether Polyols (CASE用聚醚多元醇, CHE/CHED series) Polyether polyols for Coatings, Adhesives, Sealants, and Elastomers (CASE), featuring low water content, low potassium ion content, and low unsaturation. Used in polyurethane coatings, sealants, adhesives, and microcellular elastomers. B2B chemical input for industrial CASE formulators.
• Special Polyether Polyols (特种聚醚多元醇, CHE/CHK/CHPEG series) Specialty polyether polyols including defoamers, surfactants, lubricating agents, PEG series (polyethylene glycol) with various molecular weights (600–3000), crosslinking agents, and foam cell openers. Applications span industrial cleaning, water-based cutting fluids, textile auxiliaries, and high-tensile-strength flame lamination foams for automotive seating. B2B specialty chemicals for industrial formulators.
• Hiclaim® 2901L BHT-free, amine-free, high-molecular-weight, high-reactivity polyether polyol with low unsaturation, low odor, and low VOC characteristics. Designed for high-performance high-resilience foam applications such as automotive seating and premium furniture foam. Marketed under the Hiclaim® brand.
• CHE-828D High-Reactivity Polyether Polyol CHE-828D is a high-molecular-weight, high-reactivity polyether with BHT-free and amine-free formulation, low odor, designed for high-resilience cold-curing foams used in automotive seat cushions and steering wheels. B2B chemical product targeting automotive seating manufacturers.
• Carnol™ Polyols (CO2-Based Polycarbonate Ether Polyols) CO2-based polycarbonate ether polyols manufactured using Econic Technologies' proprietary catalyst technology at the world's first commercial-scale Lianyungang facility. Products offer approximately 30% lower carbon footprint versus conventional polyols. Targeted at industrial polyurethane producers globally via direct sales and licensing partnerships. Target output ~80,000 tonnes in 2026 with scale-up plans to over one million tonnes.

Quantifiable outcome

• Approximately 30% lower carbon footprint compared to conventional polyols for Carnol™ polyol products

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Suzhou University (苏州大学)coreStrategic or Co-development Partner · 1 January 2023Changhua Chemical has established industry-academia-research cooperation with Suzhou University, including the joint establishment of the Ionic Liquid Industrial Technology Research Institute in 2023, focused on developing innovative chemical technologies.
• Econic TechnologiescoreTechnology or IntegrationChanghua Chemical uses Econic Technologies' proprietary catalyst technology for CO2-based polycarbonate ether polyol production at its Lianyungang facility. The products are marketed as Carnol™ polyols, offering approximately 30% lower carbon footprint compared to conventional polyols.
• Monument ChemicalcoreTechnology or IntegrationMonument Chemical in the United States has entered into a licensing agreement with Changhua Chemical for the global expansion of CO2-based polycarbonate ether polyol technology, enabling deployment of Carnol™ polyol production outside China.
• Manali Petrochemicals (India)coreTechnology or IntegrationManali Petrochemicals in India has signed a memorandum of understanding with Changhua Chemical for CO2-based polycarbonate ether polyol technology cooperation, expanding Carnol™ polyol presence in the Indian market.
• Sanyo Chemical (Japan)coreTechnology or IntegrationSanyo Chemical in Japan has signed a memorandum of understanding with Changhua Chemical for CO2-based polycarbonate ether polyol technology cooperation, expanding Carnol™ polyol presence in the Japanese market.
• PTT Global Chemical (Thailand)coreTechnology or IntegrationPTT Global Chemical in Thailand has signed a memorandum of understanding with Changhua Chemical for CO2-based polycarbonate ether polyol technology cooperation, expanding Carnol™ polyol presence in the Southeast Asian market.
• Chimcomplex (Romania)coreTechnology or IntegrationChimcomplex in Romania has signed a memorandum of understanding with Changhua Chemical for CO2-based polycarbonate ether polyol technology cooperation, expanding Carnol™ polyol presence in the European market.
• Nanjing Tech University (南京工业大学)coreStrategic or Co-development PartnerChanghua Chemical conducts extensive industry-academia-research cooperation with Nanjing Tech University, including joint development of rare earth-based catalysts for VOC treatment as part of the company's environmental protection technologies.
• Jiangsu Provincial Chemical Design Institute (江苏省化工设计院有限公司)minorStrategic or Co-development PartnerJiangsu Provincial Chemical Design Institute with Class A design qualifications in the chemical industry was engaged to design environmental protection facilities according to petrochemical regulations.
• China Chemical Engineering 14th Construction Co., Ltd. (中国化学工程第十四建设有限公司)minorStrategic or Co-development PartnerChina Chemical Engineering 14th Construction Co., Ltd. with Class I general contracting qualifications for petrochemical engineering was engaged for equipment installation at the production facility.

Scale indicators5 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Covestro AG: Global polyurethanes raw materials leader (now under ADNOC) producing MDI, TDI, and polyether polyols; competes head-to-head with Changhua in automotive seating, mattress foam, and CASE-grade polyols.
• BASF SE: One of the world's largest polyether polyol producers with deep downstream polyurethane systems exposure; competes with Changhua in flexible foam, CASE, and specialty polyols.
• Manali Petrochemicals: Leading Indian polyether polyol and propylene oxide producer; both a Carnol™ MoU partner and a direct regional competitor in flexible slabstock and CASE polyols.
• Repsol Química: Polyols and polyurethanes producer with growing specialty polyol portfolio; competes with Changhua in flexible foam and CASE-grade polyether polyols.
• Dow Inc. Major global supplier of polyether polyols (VORANOL™) serving flexible slabstock, HR foams, and CASE applications — directly comparable product portfolio to Changhua's CHE and CHP series.
• Huntsman Corporation: Global polyurethane chemicals producer with significant polyether polyol capacity for automotive, furniture, and footwear foams — closely aligned with Changhua's end-market mix.
• Wanhua Chemical: China's largest MDI/polyether polyol producer and Changhua's most direct domestic competitor, operating a fully integrated polyurethanes value chain from isocyanates to polyols across the same automotive, furniture, and footwear end-markets.
• Stepan Company: Specialty polyol manufacturer focused on CASE, rigid foam, and flexible foam polyols; comparable mid-scale specialization in polyether chemistry.
• Shell Chemicals (Shell plc): Integrated polyether polyol and EO/PO producer serving polyurethane systems; comparable in upstream polyol manufacturing and downstream foam chemistry.

Others

• Econic Technologies: UK-based catalyst technology developer and Changhua's licensor for CO2-based polycarbonate ether polyol production; included as a critical ecosystem enabler rather than a competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Changhua Chemical Technology Co.