What Swancor Advanced Materials does

Swancor Advanced Materials Co., Ltd. is a Shanghai-headquartered specialty materials company, founded in 2000 and listed on the Shanghai Stock Exchange STAR Market (ticker 688585) since September 2020. It develops, manufactures, and sells epoxy and vinyl ester resin systems for three end-markets: wind turbine blade structures, corrosion-resistant industrial applications, and transportation safety components. Operationally, it runs five production bases across mainland China (Shanghai, Tianjin, Jiangsu), Taiwan (Nantou regional headquarters), and Malaysia, employing 251–500 staff. In 2025–2026, Chinese robotics company AgiBot acquired a 63.62% controlling stake for ~2.1 billion yuan (~$289 million), making Swancor a controlled subsidiary of an embodied-intelligence-focused acquirer.

The company's core technology platform is the EzCiclo recyclable thermosetting epoxy resin system paired with CleaVER chemical-degradation liquid, which enables recovery and reuse of glass and carbon fibers from end-of-life composite parts — historically considered non-recyclable. This platform underpins the company's strategic positioning ahead of EU End-of-Life Wind Turbine regulations (2025/2028). Beyond EzCiclo/CleaVER, the product portfolio includes SWANCOR vinyl ester resins (901, CHEMPULSE 901, 905-2, 915, 907-S, 900), SWANCOR HYVER 2250 wind blade injection resin (DNV and CCS certified), SWANCOR 2591 prepreg resin, and FIREREX FR110 flame-retardant rail transit resin (EN45545-2 R1:HL3).

Swancor operates a B2B direct-sales model targeting enterprise customers across wind energy, marine, automotive, petrochemical, food/pharmaceutical, and rail transit sectors. Named customers include Siemens Gamesa, Goldwind Science & Technology, Times New Materials, BYD, and major Chinese power plants. Strategic partnerships span co-development alliances with Siemens Gamesa, Goldwind, and Times New Materials on recyclable blade programs, plus a joint venture with Shandong Longneng New Energy (Shandong Longneng Renewable Resources Utilization Co., Ltd., September 2023) for downstream blade-recycling services. Pricing is not publicly disclosed and is negotiated through multi-year supply and licensing arrangements.

Name

Swancor Advanced Materials

Legal name

SWANCOR ADVANCED MATERIALS CO., LTD.

Website

https://en.swancor.com.cn

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

251–500 employees

Short description

Swancor Advanced Materials is a Shanghai-listed specialty chemicals company that develops, produces, and sells epoxy and vinyl ester resin systems for wind turbine blades, corrosion-resistant industrial applications, and transportation safety components, serving enterprise OEMs globally from five production sites across China, Taiwan, and Malaysia.

Ownership category

akta.pro rank

Product category

Specialty Chemical Resins

NAICS

Resin and Synthetic Rubber Manufacturing (32521), Custom Compounding of Purchased Resins (325991)

SIC

Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Miscellaneous Chemical Products (2890)

akta.pro primary industry

Thermoset & Reactive Resin Manufacturing (Epoxy, Polyester, Phenolic, Urethane systems) (IMANAAAC)

akta.pro secondary industries

Specialty Polymers & Resins (Engineered Materials) (IMAEABAK), Wind Turbine Blade Recycling & Repurposing (Composite Processing) (EUAMALAC)

Keywords

• Epoxy resin materials
• Vinyl ester resins
• Recyclable composite resins
• Wind turbine blade materials
• Corrosion resistant coatings

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Epoxy Resin Sales: Swancor generates revenue through the direct sale of advanced epoxy resin formulations, including its standard and recyclable product lines (EzCiclo, CleaVER), to industrial manufacturers across wind energy, marine, automotive, petrochemical, and food/pharmaceutical sectors. Revenue is derived from B2B contracts with large-scale enterprise customers, typically through multi-year supply agreements.
2. Licensing of Recyclable Technology: The company commercializes its proprietary recyclable thermosetting resin technology through licensing arrangements with wind turbine OEMs and composite manufacturers, enabling partners to adopt circular economy manufacturing processes using EzCiclo and related technologies.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels2 records

Core offering

Swancor Advanced Materials develops, manufactures, and sells advanced epoxy and vinyl ester resin systems, with its proprietary EzCiclo recyclable thermosetting epoxy resin platform (paired with CleaVER chemical degradation liquid) as the flagship technology for wind turbine blade, marine, automotive, petrochemical, food/pharmaceutical, and rail transit applications. The company sells standard corrosion-resistant resins alongside its recyclable and low-carbon product lines to enterprise manufacturers through direct B2B supply contracts and technology licensing agreements.

Product overview

Swancor Advanced Materials operates as a materials science company specializing in high-performance resins and composite materials. The portfolio consists of four main product lines: (1) Environmentally Friendly High-Performance Corrosion-Resistant Materials featuring vinyl ester resins (SWANCOR 901, CHEMPULSE 901, 905-2, 915, 907-S, 900) for chemical storage and industrial corrosion protection; (2) Materials for Wind Turbine Blades including injection resins (HYVER 2250), prepreg resins (2591), and pultrusion resins for larger, lighter blade designs; (3) New Composite Materials encompassing specialty formulations for various industrial applications; and (4) Materials Designed for Circularity featuring the revolutionary EzCiclo recyclable thermosetting resin system paired with CleaVER degradation liquid, enabling fiber and resin recovery from composite materials. The company also offers rail transit safety materials. This unified portfolio enables customers to source both traditional performance resins and next-generation recyclable solutions from a single supplier.

Differentiator

Problem solved

Functional benefit

Brands

• EzCiclo: Recyclable thermosetting epoxy resin product line that enables circular economy for composite materials
• CleaVER
• FIREREX FR110
• HYVER
• SWANCOR

Products and services

• EzCiclo Series (Recyclable Thermosetting Resin) A recyclable thermosetting epoxy resin system that can be chemically degraded using the CleaVER solution, enabling recovery and reuse of glass fiber and carbon fiber from composite materials for wind turbine blades, marine, and industrial applications.
• CleaVER (Degradation Liquid) Chemically degradable liquid used in conjunction with EzCiclo resin to enable separation and recovery of fibers from composite materials without generating wastewater, waste gas, or waste liquid.
• SWANCOR 901 Vinyl Ester Resin Standard bisphenol A type vinyl ester resin with excellent chemical resistance, stable performance, and good temperature resistance for corrosion-resistant applications.
• SWANCOR CHEMPULSE 901 Standard bisphenol A type vinyl ester resin formulated for vacuum infusion, with low viscosity enabling better impregnation of glass fibers in FRP manufacturing.
• SWANCOR 905-2 (Flame-Retardant Vinyl Ester Resin) Brominated flame-retardant vinyl ester resin with excellent flame-retardant performance meeting ASTM E-84 Class 1, combined with chemical resistance and mechanical properties.
• SWANCOR HYVER 2250 Free radical modified room-temperature curing epoxy resin for wind turbine blades, boats, and large structural products, featuring low viscosity, room-temperature curing, and DNV and CCS certifications.
• FIREREX FR110 Flame-retardant epoxy resin for rail transit components, lightweight with better interlayer performance and mechanical properties compared to ATH systems, meeting EU EN45545-2 R1:HL3 standard.
• SWANCOR 2591 (Prepreg Resin) Pre-impregnated resin designed for key components of large wind turbine blades, including main beams.
• SWANCOR 2519-2A/BS (Injection Resin) Carbon fiber injection and carbon-glass mixed injection resin for large wind turbine blade main beam components.
• SWANCOR 963 (Unsaturated Resin) Unsaturated polyester resin with excellent mechanical properties for structural layers in chemical storage tanks and industrial applications.
• SWANCOR 907-S / SWANCOR 900 (Phenolic Vinyl Ester Resins) Phenolic epoxy-modified vinyl ester resins with high crosslinking density providing excellent resistance to oxidizing acids and strong corrosive organic solvents.
• SWANCOR 915 (Brominated Flame-Retardant Resin) Brominated flame-retardant vinyl ester resin with corrosion resistance similar to standard bisphenol A type vinyl ester, featuring excellent flame-retardant properties.
• Recyclable Resin for Winding Hydrogen Cylinders Recyclable thermosetting resin designed for filament-wound Type IV hydrogen storage cylinders, extending Swancor's EzCiclo circular-economy platform to clean-energy storage applications.

Quantifiable outcome

• First recyclable thermosetting epoxy resin technology for wind turbine blades, enabling recovery and reuse of fiberglass and carbon fiber from decommissioned blades

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• Siemens GamesaflagshipStrategic or Co-development PartnerSwancor and Siemens Gamesa formed a strategic partnership to develop and commercialize fully recyclable wind turbine blades using Swancor's EzCiclo recyclable thermosetting epoxy resin technology. The partnership targets the European wind energy market and addresses EU End-of-Life Wind Turbine regulations mandating blade recyclability by 2025/2028. This is a flagship co-development relationship that positions Swancor as a key material supplier for Siemens Gamesa's next-generation recyclable blade program.
• Shandong Longneng New Energy Co., Ltd.coreStrategic or Co-development PartnerSwancor established a joint venture with Shandong Longneng New Energy Co., Ltd. focused on wind turbine blade recycling operations in China. The JV leverages Swancor's EzCiclo recyclable resin technology and Shandong Longneng's renewable energy expertise to build an end-of-life blade recycling ecosystem in the Chinese wind energy market.
• Times New MaterialscoreStrategic or Co-development PartnerSwancor and Times New Materials entered into a co-development collaboration to integrate Swancor's recyclable thermosetting epoxy resin into Times New Materials' 110-meter wind turbine blade manufacturing program. This collaboration targets the production of ultra-long recyclable wind turbine blades for next-generation offshore wind installations.
• Goldwind Science & TechnologycoreStrategic or Co-development PartnerSwancor and Goldwind Science & Technology collaborated on the development of recyclable thermosetting resin formulations specifically designed for Goldwind's wind turbine manufacturing requirements. The partnership supports Goldwind's sustainability goals and compliance with emerging wind turbine end-of-life regulations through adoption of Swancor's EzCiclo technology.

Scale indicators4 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Aditya Birla Advanced Materials: Diversified chemical major producing epoxy resins and specialty composites. Operates a broader chemical portfolio than Swancor but overlaps directly in epoxy resins for wind, automotive, and industrial composites.
• Arkema: Specialty materials company with advanced bio-based and recyclable resin initiatives (including Elium recyclable thermoplastic resin for wind blades). Adjacent competitor pushing recyclable composites that could rival EzCiclo in wind blade applications.
• BASF: Global chemical giant with epoxy systems and composite materials serving wind energy, automotive, and industrial markets. A broad incumbent with overlapping but more diversified offerings versus Swancor's specialist focus.

Direct peers

• Scott Bader: Specialty resin manufacturer producing unsaturated polyester, vinyl ester, and epoxy resins for composites and wind energy. Competes with Swancor in marine, wind, and corrosion-resistant composite resin markets.
• Hexion: Specialty chemicals company producing epoxy resins, adhesives, and composite materials for wind energy, automotive, and construction. Direct peer in thermoset resins for composite manufacturing, including wind blade applications.
• Huntsman Corporation: Global specialty chemical manufacturer with a large epoxy resins and advanced materials division serving wind energy, aerospace, and automotive composites. Direct competitor in thermoset resins for wind turbine blades and a key benchmark for Swancor's epoxy product line.
• AOC (Aliancys): Manufacturer of unsaturated polyester and vinyl ester resins for composites, corrosion-resistant applications, and wind energy. Direct peer in specialty composite resins, particularly vinyl ester chemistries.
• Olin Corporation: One of the world's largest producers of epoxy resins (acquired Dow's epoxy business) serving coatings, composites, and wind energy. Competes directly with Swancor in epoxy resins for wind blade and corrosion-resistant applications.
• Westlake Corporation (Westlake Epoxy): Producer of epoxy resins, vinyl ester resins, and specialty materials serving composites, coatings, and wind energy end markets. Competes with Swancor's SWANCOR 901 vinyl ester and epoxy product lines.
• Polynt-Reichhold: Global producer of unsaturated polyester resins, vinyl ester resins, and specialty composite materials. Directly comparable product portfolio to Swancor's corrosion-resistant and composite resin lines.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 Swancor Advanced Materials