Taiwan chemical maker Shiny Chemical Industrial Co. is building a NT$1.9 billion ($60.8 million) solvent plant in Taiwan to meet rising demand from the semiconductor industry, marking its latest push into higher-margin electronic chemicals.
The new facility will produce 120,000 tons of propylene glycol methyl ether annually when it opens in 2027, more than doubling the company’s current 50,000-ton capacity. The expansion follows an October investment of NT$2.3 billion in electronic-grade isopropyl alcohol production lines.
The Taiwanese manufacturer has transformed from an industrial solvent maker into a supplier of customized chemicals for advanced semiconductor processes since launching its first propylene glycol methyl ether plant 18 years ago with technology support from Dow Chemical.
While the company’s electronic chemicals business remains stable with growing orders from chip and display makers, its industrial solvent segment faces pressure from oversupply in China. The firm also warned that geopolitical tensions and Middle East conflicts are disrupting shipping routes, potentially forcing it to buy more expensive spot materials to maintain production.
Shiny Chemical reported revenue of NT$10.1 billion in the first 11 months of 2023, up 12.6% year-on-year.
