Zhejiang satellite Chemical Co., ltd.

What Zhejiang satellite Chemical Co., ltd. does

Zhejiang Satellite Chemical Co., Ltd. (卫星化学股份有限公司, Shenzhen Stock Exchange: 002648) is a Chinese publicly listed petrochemical manufacturer founded in 1992 and headquartered in Jiaxing, Zhejiang Province. The company operates a "light hydrocarbon integration" strategy built around dual C2 (ethylene-based) and C3 (propylene-based) industrial chains, and is described as the first Chinese company to deploy ethane cracker technology and the first to operate an integrated C3 industrial chain. Its product portfolio spans ~20+ specialty and commodity chemicals including ethylene oxide, high-density polyethylene (HDPE, produced via LyondellBasell Hostalen ACP technology), ethylene glycol, polycarboxylic acid macromonomers, styrene, polystyrene, electronic-grade carbonates (EC/DMC/EMC/DEC for battery electrolytes), acrylic acid and esters (glacial, methyl, ethyl, n-butyl, 2-ethylhexyl), superabsorbent polymer (SAP), polypropylene, polymer emulsions and adhesives, pigment intermediates, and hydrogen peroxide. Products serve downstream manufacturers in aerospace, new energy vehicles ("new three categories"), electronic chips, green infrastructure, healthcare, and hygiene applications.

The company runs three principal production bases — Jiaxing (HQ and chemical production), Pinghu (acrylic acid and ester, 12 billion yuan registered capital, 320,000 tons/year and 300,000 tons/year capacity respectively — described as China's largest single-set), and Lianyungang (Xuwei New District petrochemical park, planned investment exceeding 30 billion yuan for a 3.2 million tons/year light hydrocarbon integrated processing project). It generates revenue through direct industrial sales via dedicated domestic and export trade teams (gtm_motion: sales_led). Pricing is not publicly disclosed. The company pursues a low-carbon, green development strategy including CO2 utilization, hydrogen energy, and digital/smart factory operations, and has achieved ISO 14001 environmental certification.

Strategic positioning rests on technology-first differentiation (ethane cracking, integrated C3 chain, licensed HDPE process), large-scale efficient production, capital-intensive barriers to entry, and diversification into higher-margin new energy and electronic chemical applications. Governance includes a party committee structure, a public welfare foundation (established Feb 2023), and a national model worker Chairman (Yang Weidong). Revenue figures, total headcount, and specific production utilization rates are not disclosed in the available data.

Name

Zhejiang satellite Chemical Co., ltd.

Legal name

卫星化学股份有限公司

Website

https://stl-chem.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

Zhejiang Satellite Chemical (Shenzhen: 002648) is a Chinese publicly listed light-hydrocarbon chemicals manufacturer operating dual C2 (ethylene) and C3 (propylene) industrial chains across three production bases in Jiaxing, Pinghu, and Lianyungang, serving industrial customers in aerospace, new energy vehicles, electronics, healthcare, and construction.

Ownership category

akta.pro rank

Product category

Specialty Chemicals and Petrochemical Manufacturing

NAICS

Petrochemical Manufacturing (32511), Basic Chemical Manufacturing (3251), Resin and Synthetic Rubber Manufacturing (32521), Chemical Manufacturing (325), Other Chemical Product and Preparation Manufacturing (3259)

SIC

Industrial Organic Chemicals (2860), Chemicals & Allied Products (2800), Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820)

akta.pro primary industry

Base Aromatics (BTX: Benzene, Toluene, Xylenes) (IMAEADAB)

akta.pro secondary industries

Styrenics & Specialty Copolymers Manufacturing (ABS, SAN, ASA, SBS/SIS) (IMANAAAE), Electronic & High-Purity Specialty Chemicals (IMAEABAD)

Keywords

• Light hydrocarbon chemicals
• C2 C3 chemical products
• Polyolefin materials
• Acrylic acid esters
• Specialty chemical manufacturing

Headquarters

HQ city

Jiaxin

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Chemical Product Sales: Satellite Chemical generates revenue primarily through the manufacturing and sale of chemical products, including olefins (C2/C3 derivatives), high-end chemical new materials, and specialty chemicals. The company operates production facilities in Jiaxing, Pinghu, and Lianyungang bases. As a listed company (stock code: 002648), it is a publicly traded entity in the chemicals sector.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Zhejiang Satellite Chemical Co., Ltd. is a low-carbon chemical new materials manufacturer based on light hydrocarbons (C2 and C3). It produces a wide range of chemical products including ethylene oxide, HDPE, ethylene glycol, polycarboxylic acid macromonomers, styrene, polystyrene, carbonates, ethanolamines, acrylic acid and esters, superabsorbent polymer (SAP), polymer emulsions and resins, polypropylene, pigment intermediates, and hydrogen peroxide. The company operates dual C2 (ethylene-based) and C3 (propylene-based) industrial chains, with products serving aerospace, new energy vehicles, electronic chips, healthcare, and construction industries.

Product overview

Zhejiang Satellite Chemical Co., Ltd. is a low-carbon chemical new materials company based on light hydrocarbons. The company operates dual industrial chains centered on C2 (ethylene-based) and C3 (propylene-based) product lines. The C2 product line includes ethylene oxide, high-density polyethylene, ethylene glycol, polycarboxylic acid macromonomers, styrene, polystyrene, carbonates, and ethanolamines. The C3 product line encompasses acrylic acid and esters (including glacial acrylic acid, methyl acrylate, ethyl acrylate, n-butyl acrylate, and 2-ethylhexyl acrylate), superabsorbent polymers (SAP), polymer emulsions and resins (including solvent-based adhesives, water-based coating adhesives, foam adhesives, flocking adhesives, printing pastes, size agents, waterproofing agents, thickeners, and stiffening agents), polypropylene, pigment intermediates, and hydrogen peroxide. Products are applied across aerospace, new energy vehicles, electronic chips, green infrastructure, and healthcare sectors.

Differentiator

Problem solved

Functional benefit

Brands

• 杨妈妈公益行: Charitable public welfare brand under Satellite Chemical, focusing on student assistance, poverty alleviation, community service, and social welfare activities
• 卫星公益基金会
• 卫星化学杨妈妈爱心驿站
• 授渔计划

Products and services

• Ethylene Oxide (环氧乙烷) A colorless liquid chemical intermediate that is flammable and explosive. Used as a chemical intermediate in dyeing, electronics, pharmaceuticals, pesticides, textiles, papermaking, automobiles, petroleum extraction and refining, and aerospace applications.
• High-Density Polyethylene (HDPE, 高密度聚乙烯) A linear structure granular thermoplastic resin with excellent low-temperature resistance, chemical stability, and electrical insulation properties. Produced using LyondellBasell's Hostalen ACP process technology with Ziegler-Natta catalysts. Used for special products requiring high-speed processing, special-grade packaging, technical parts, and lightweight containers (2L-25L) including chemical containers and lightweight oil drums.
• Ethylene Glycol / MEG (乙二醇) An important chemical raw material primarily used to produce polyester resin products including polyester fiber, film, and PET bottles. Also used as automotive antifreeze.
• Polycarboxylic Acid Macromonomer (HPEG-2400, TPEG-2400) Including HPEG-2400 (methyl allyl alcohol polyoxyethylene ether) and TPEG-2400 (isopentenyl alcohol polyoxyethylene ether). Used as macromonomers for producing high-performance polycarboxylic acid water reducers for concrete, with high particle dispersion performance, high water reduction rate, low cement usage, and good durability.
• Styrene (苯乙烯) A colorless oily liquid produced by dehydrogenation of ethylbenzene. Used as a monomer for synthesizing rubber and plastics, producing SBR rubber, polystyrene, and foam polystyrene.
• Polystyrene (PS, 聚苯乙烯) Including general polystyrene (GPPS), high-impact polystyrene (HIPS), expandable polystyrene (EPS), and syndiotactic polystyrene (SPS). Used for transparent materials, appliance housings, and food packaging.
• Carbonates (EC, DMC, EMC, DEC) A low-toxicity, environmentally friendly chemical raw material. Electronic grade EC, DMC, EMC, and DEC are important solvents in battery electrolytes.
• Ethanolamines (MEA, DEA, TEA) Including monoethanolamine (MEA), diethanolamine (DEA), and triethanolamine (TEA). Used in pharmaceutical synthesis, gas treatment, metal processing, and pesticide production.
• Ice Crystal Grade Acrylic Acid / Glacial Acrylic Acid (冰晶级丙烯酸) High-purity acrylic acid ideal for SAP production. Used as raw material for acrylic esters, SAP, adhesives, coatings, textile auxiliaries, and paper manufacturing.
• Acrylic Acid (丙烯酸) An important organic synthesis raw material and synthetic resin monomer. Used for preparing acrylic esters, SAP, adhesives, coatings, textile auxiliaries, and water treatment agents.
• Methyl Acrylate (丙烯酸甲酯) A colorless volatile liquid with pungent taste. Used as an important component in fiber, coating, textile, and water treatment additives.
• Ethyl Acrylate (丙烯酸乙酯) A colorless volatile liquid used as an important component in synthetic adhesives, coatings, plastics, and textile auxiliaries.
• n-Butyl Acrylate (丙烯酸正丁酯) A colorless liquid used widely in synthesizing coatings, adhesives, textile auxiliaries, paper additives, and water treatment agents.
• 2-Ethylhexyl Acrylate (丙烯酸异辛酯) A colorless liquid mainly used in preparing coatings and adhesives. Suitable for preparing pressure-sensitive adhesives through homopolymerization and copolymerization.
• Super Absorbent Polymer (SAP, 高吸水性树脂) Water-swelling polymer with strong hydrophilic groups. Can absorb hundreds of times its own mass in water. Widely used in disposable diapers, adult incontinence products, and women's hygiene products.
• Polypropylene (PP, 聚丙烯) A semi-crystalline thermoplastic with high impact resistance and chemical resistance. Used for producing polypropylene woven bags, injection molded products, and flame-retardant components for electrical appliances, lighting, and televisions.
• Pigment Intermediates (2B oil, 2B acid, 4B acid) Including 2B oil, 2B acid, sodium 2B salt, and 4B acid. Used as intermediates for synthesizing organic pigments, pesticides, and fluorine chemicals.
• Hydrogen Peroxide (双氧水) An inorganic compound and strong oxidizing agent. Industrial grades available in 27.5%, 35%, and 50% concentrations. Applied in paper making, dyeing, textiles, electronics, wastewater treatment, and chemical synthesis.
• Solvent-Based Adhesive STL-220 (溶剂型胶水STL-220) Polyacrylate resin solution suitable for fabric coating and bonding with leather and PVC film.
• Water-Based Coating Adhesive STL-550 (水性涂层胶STL-550) Acrylate-based emulsion with self-crosslinking properties. Widely applicable for coating finishing of clothing fabrics, linings, bag materials, tents, and modern canvas.
• Waterproofing Agent (防水剂) Provides waterproof, oil-proof, and anti-fouling properties. Available in C8, C6, and fluorine-free series for clothing, bags, tents, medical, and industrial applications.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• LyondellBasell (利安德巴赛尔)coreTechnology or IntegrationSatellite Chemical introduced LyondellBasell's Hostalen ACP process technology for producing high-density polyethylene (HDPE). The technology uses Ziegler-Natta catalysts with butene as comonomer, enabling production of single-peak or multi-peak HDPE products with superior mechanical properties and processing performance.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• INEOS: Global petrochemical producer with large-scale olefin and polymer assets including HDPE, polypropylene, and styrenics. Operates competing ethane crackers in Europe and the U.S., making it a reference peer for Satellite's ethane-cracking strategy.
• BASF: Global chemical giant with broad petrochemical and specialty chemical portfolio including ethylene, propylene, acrylic acid, and superabsorbent polymers. Comparable to Satellite across multiple C2/C3 product lines and end-markets worldwide.
• SABIC: Saudi Arabian petrochemical and specialty chemicals producer with global ethylene, propylene, polyolefin, and engineering plastics assets. Comparable in integrated olefin-to-polymer value chain and global scale of production.
• Sinopec (China Petroleum & Chemical Corp.): China's largest integrated energy and chemical company with massive petrochemical assets producing ethylene, propylene, aromatics, and downstream polymers. Broad incumbent that overlaps with Satellite across C2/C3 olefins, PE, PP, MEG, and aromatics chains.
• Hengli Petrochemical: Major Chinese integrated petrochemical complex producing PTA, polyester, and polyolefins from large-scale refining-cracking assets. Comparable to Satellite in olefin and polymer production scale and in serving Chinese industrial end-markets.
• Rongsheng Petrochemical: Large Chinese petrochemical group operating integrated refining-aromatics-olefin complexes producing PX, PTA, PE, PP, MEG, and acrylic acid. Directly comparable to Satellite in polyolefin and C3 product lines and end-market exposure.
• LyondellBasell: Global leader in polyolefins (PE, PP) and advanced polymer solutions; also Satellite's Hostalen ACP process technology licensor. Comparable as a polyolefins producer and technology reference point for HDPE product quality.

Regional players

• LG Chem: Korean integrated chemical company producing olefins, polyolefins, acrylates, SAP, and battery materials. Comparable to Satellite in C2/C3 product mix and especially in serving Asian battery, electronics, and automotive end-markets.
• Formosa Plastics Corporation: Taiwanese petrochemical major with integrated olefin, polyolefin, and vinyl chains producing PE, PP, PVC, and acrylic acid. Comparable to Satellite in olefin-based polymer production and Asian end-market focus.

Direct peers

• Wanhua Chemical: Leading Chinese specialty and petrochemical producer with integrated isocyanate, olefin, and downstream polymer chains. Directly comparable to Satellite as a domestic competitor in C2/C3 olefins, polyolefins, and acrylic-based specialty chemicals serving the same Chinese industrial customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zhejiang-satellite-chemical-co.-ltd.

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 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 Zhejiang satellite Chemical Co., ltd.