Chinese petrochemical and textile producer Shenghong Holding Group Co., Ltd. revealed on December 28 that currently the annual production capacity of EVA photovoltaic resin of its subsidiary Jiangsu Sierbang Petrochemical Co., Ltd. has been stabilized at 216,000 tons.
According to the company, seen from supply and demand, EVA demand is closely related to the growth of installed capacity in the downstream photovoltaic industry. The global photovoltaic installed capacity is expected to exceed 200 GW in 2022, and the corresponding photovoltaic EVA demand is expected to reach 900,000 tons.
The group launched the acquisition of Sierbang in July this year, at a transaction price of RMB 14.36 billion yuan. The acquisition was approved by China Securities Regulatory Commission (CSRC) on December 22.
