What is driving new hexamine capacity outside China, such as in Southeast Asia?

What is driving new hexamine capacity outside China, such as in Southeast Asia?
Chinese producers are increasingly building hexamine capacity abroad to serve regional downstream industries. One Shandong-based chemical company has filed a project in Thailand pairing 49,000 tonnes per year of formaldehyde with 10,000 tonnes per year of hexamine, integrated alongside epoxy and phenolic resin units. This co-location model is telling: hexamine demand is largely derivative, pulled by resin curing, rubber vulcanization acceleration and downstream formaldehyde chemistry. Building hexamine next to resin capacity cuts logistics costs and secures captive offtake. For the export market, it also signals that Southeast Asian supply is set to grow, which could pressure Chinese export volumes into the same region over the medium term.