What Shiny Chemical Industrial does

Shiny Chemical Industrial Co., Ltd. (TSE: 1773) is a Taiwan-based, publicly listed manufacturer of high-purity chemical solvents and formaldehyde products, founded in 1979 and headquartered in Kaohsiung. The company operates nine domestic manufacturing plants and three professional R&D laboratories, producing 40 self-manufactured solvent SKUs (14 industrial-grade and 26 electronic-grade) — the broadest self-manufactured portfolio among Taiwanese solvent makers. Its electronic-grade solvents (4N purity and above), including PGMEA, NMP, GBL, cyclopentanone, and IPA, are qualified for use in semiconductor photolithography, photoresist stripping, edge bead removal, and PI solvent applications; industrial-grade solvents serve coatings, inks, adhesives, automotive, and general chemical-synthesis markets.

The business generates revenue across four streams: (1) electronic-grade solvent sales to semiconductor, TFT-LCD, LED, and packaging/testing customers; (2) industrial-grade solvent sales to coatings, inks, and chemical-synthesis manufacturers; (3) tank storage rental and logistics services at the 5.03-hectare Intercontinental Terminal Storage Center (82,900 m³ capacity across 45 tanks, operational since July 2023); and (4) full-service chemical management covering procurement, logistics, and custom formulation. Pricing is custom-quoted under multi-year B2B contracts with no public price list. The company maintains wholly-owned operating subsidiaries in Taiwan, mainland China (Shanghai, Zhangjiagang), Malaysia, and Vietnam, supporting both domestic and export sales. Direct B2B sales, custom formulation, and a circular-economy solvent recovery service (delivering over 80,000 metric tons of annual customer CO2 reduction) form the core commercial approach.

Name

Shiny Chemical Industrial

Legal name

勝一化工股份有限公司 (Shiny Chemical Industrial Co., Ltd.)

Website

https://shinychem.com.tw

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

251–500 employees

Short description

Shiny Chemical Industrial is a Taiwan-based manufacturer of high-purity electronic-grade and industrial-grade solvents serving semiconductor wafer fabs (including TSMC), display, LED, and industrial customers, with nine plants, three R&D labs, and 40 self-manufactured solvent SKUs.

Ownership category

akta.pro rank

Headquarters

HQ city

Kaohsiung

HQ country

Taiwan

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Electronic-Grade Solvent Sales: Sale of high-purity electronic-grade solvents to semiconductor, TFT-LCD, LED, and packaging/testing manufacturers for photolithography, cleaning, stripping, and PI solvent applications. Revenue generated through direct B2B sales relationships with major electronics and semiconductor customers.
2. Industrial-Grade Solvent Sales: Sale of industrial-grade solvents including acetate esters, ether alcohols, alcohols, and formaldehyde products to coatings, inks, adhesives, chemical synthesis, and general industrial manufacturers.
3. Tank Storage Rental Services: Storage tank leasing and logistics services at the Intercontinental Terminal Storage Center, including general chemical storage, bonded storage, tank truck filling, ISO-TANK filling, and chemical re-packaging services for domestic and international chemical companies.
4. Full-Service Chemical Management: Comprehensive chemical management services including procurement, logistics, storage, and distribution for chemical customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Shiny Chemical Industrial manufactures and sells 40 self-produced solvent products, including 26 electronic-grade solvents at 99.9%+ purity for semiconductor photolithography, edge bead removal, photoresist stripping, and PI solvent applications, plus 14 industrial-grade solvents for coatings, inks, adhesives, and chemical synthesis. The company also operates the Intercontinental Terminal Storage Center offering tank storage, logistics, bonded storage, and chemical re-packaging services, and provides a full-service one-stop chemical management solution covering procurement, custom formulation, storage, and distribution.

Product overview

Shiny Chemical Industrial operates as a diversified chemical manufacturer offering two primary product categories: electronic-grade solvents and industrial-grade solvents. The company provides a comprehensive portfolio of over 40 self-manufactured solvent products (14 industrial-grade and 26 electronic-grade as of 2024), complemented by storage tank rental services and full-service solutions. Electronic-grade solvents serve critical applications in semiconductor photolithography, PCB manufacturing, and flat panel display production, while industrial-grade solvents support coatings, inks, adhesives, and chemical synthesis applications. The product portfolio includes acetate esters (such as NBAC, PGMEA), ether alcohols (PGME, DPM), NMP, GBL, and specialty formulations. Through its subsidiaries and facilities, the company also offers logistics, warehousing, and customized solvent formulation services.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Carbon reduction of >80,000 metric tons annually through semiconductor solvent recovery services
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators8 records

Recent moves22 records

Expansion highlights5 records

Broad incumbents

• Mitsubishi Chemical Group: Japanese chemical conglomerate producing solvents, electronic materials, and specialty chemicals for semiconductor and industrial applications. Comparable to Shiny Chemical in electronic-grade solvents and broader chemical portfolio, though at much larger scale and broader scope.
• Eastman Chemical Company: US-based specialty chemical company producing solvents, intermediates, and additives for coatings, inks, and industrial applications. Comparable to Shiny Chemical's industrial-grade solvent business, particularly in coatings and adhesives end markets.
• Dow Inc. Global chemical major producing bulk and specialty solvents for industrial and electronics applications. Overlaps with Shiny Chemical in industrial-grade solvents and competes in electronic-grade chemical markets globally.
• BASF SE: Global chemical major producing a wide portfolio of solvents, including electronic-grade solvents for semiconductor manufacturing. Overlaps with Shiny Chemical in industrial-grade and electronic-grade solvent categories but operates at vastly larger scale across many end markets.

Direct peers

• Tokuyama Corporation: Japanese chemical company producing electronic-grade chemicals, high-purity solvents, and semiconductor materials. Competes with Shiny Chemical in ultra-high-purity solvent supply to semiconductor fabs, particularly in Asia-Pacific markets.
• Kanto Chemical Co., Inc. Japanese specialty chemical manufacturer focused on electronic-grade chemicals and high-purity solvents for semiconductor and display manufacturing. Directly comparable to Shiny Chemical's electronic-grade solvent business serving photolithography and cleaning applications.
• Avantor, Inc. Global supplier of ultra-high-purity chemicals and materials for semiconductor, electronics, and life sciences applications. Direct competitor to Shiny Chemical in electronic-grade solvent supply, with comparable purity specifications and customer focus.
• LCY Chemical Corp. Taiwan-listed petrochemical and solvent manufacturer (李長榮化學) producing solvents and intermediates used in electronics, coatings, and industrial applications. Directly comparable to Shiny Chemical as a domestic Taiwanese producer of industrial and electronic-grade solvents serving overlapping end markets.
• Chang Chun Group (長春石化): Taiwan-based chemical manufacturer producing solvents, resins, and electronic-grade chemicals for semiconductor and display industries. Closely comparable to Shiny Chemical in product mix (electronic-grade solvents, industrial solvents) and customer base (Taiwan semiconductor and display manufacturers).
• Entegris, Inc. US-based supplier of specialty chemicals, materials, and fluid handling solutions for semiconductor and electronics manufacturers. Comparable to Shiny Chemical in serving semiconductor customers with high-purity process chemicals and materials, though with a broader global footprint.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/shiny-chemical-industrial-co-ltd

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Shiny Chemical Industrial