On December 21, the China Synthetic Resin Association formally issued the “Initiative for Promoting the Healthy Development of the Polyformaldehyde Industry,” aiming to guide the industry in standardizing market order, optimizing investment decisions, and strengthening innovation-driven development. The initiative was jointly signed by 10 major industry enterprises, including Chongqing Yuntianhua Tianju New Materials Co., Ltd., Kaifeng Longyu Chemical Co., Ltd., and Guoneng Ningxia Coal Industry Co., Ltd.

According to industry forecast data cited in the initiative's explanatory notes, over the coming years, China's formaldehyde resin sector will see existing production capacity, ongoing projects, and planned new projects converge, with total capacity projected to reach 1.51 million tons annually. However, concurrent market research indicates that actual domestic demand for formaldehyde resin in 2025 is expected to be only 950,000 tons, with limited growth potential. This creates significant structural pressure from supply-demand imbalance within the industry.

The core content of the initiative encompasses four key areas. First, it establishes a self-regulatory framework for the industry, covering fundamental requirements such as lawful and compliant operations, integrity system development, and product quality enhancement, while clarifying the core pathways for innovation-driven development and green, low-carbon transformation. Second, within this self-regulatory framework, it proposes prudent decision-making and scientific planning to mitigate risks associated with overcapacity. Third, it defines four key innovation implementation pathways: improving the standards system, advancing industrial transformation and upgrading, upgrading plant technologies, and optimizing product structures. Finally, it proposes specific collaborative safeguards, including establishing an industry data-sharing mechanism, refining risk warning notification systems, and deepening upstream-downstream cooperation.

A representative from the China Synthetic Resin Association stated that the polyformaldehyde industry is currently at a critical juncture for transformation and upgrading. They called on industry peers to prioritize sustainable development, actively implement the initiative's provisions, jointly uphold a fair competitive market environment, and advance the industry toward high-end and green development.

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