The material network in the chemical process has the characteristics of a complex network. Once the fault occurs, it will spread and lead to cascading failures, causing the chemical production process to not proceed normally. Previous studies of cascading failures have been limited by the size and characteristics of the network, which prevented the definition of the fault propagation capacity of the edge based on the actual situation. Studies on the effects of network topology and certain risk factors on the amount of fault propagation still need to be completed. Because of the above shortcomings, this study constructs a chemical material network cascading failure invulnerability analysis model that considers the failure propagation ability. Through the study of the chemical material network topology structure and the analysis of various flammable and explosive chemicals, the paper defines the fault propagation coefficient, which affects the load propagation quantity on the connecting edge. Then, based on the load‐capacity nonlinear cascading failure model, the chemical material network's invulnerability was analyzed by adjusting the model parameters. The effectiveness of the model is verified through case analysis. Compared to the existing model, the model in this paper effectively improves the invulnerability of the material network and can reduce the phenomenon of large‐scale failure of the material network due to the failure propagation capability is not considered.