The monthly summary of chemical industry events has been updated. Let's take a look at what major events happened in the chemical industry in September. We will review the monthly major events in the chemical industry from aspects such as enterprise dynamics, market conditions, and new chemical projects.
Enterprise dynamics
1、 BASF Launches First Biomass Balanced Plastic Additive
On September 20th, BASF announced the launch of the industry's first biomass balanced plastic additive product portfolio. The first batch of products have passed the quality balance certification of the International Sustainable Development and Carbon Certification Body (ISCC PLUS), achieving the replacement of fossil fuels with renewable materials, which helps to reduce the demand for fossil fuels.
Through these sustainable sources of renewable raw materials, the carbon footprint of products from cradle to gate has been significantly reduced, by up to 60% compared to the global average carbon footprint of traditional brand products.
It is reported that products Irganox 1010 BMBcert and Irganox 1076 FD BMBcert will first be produced at BASF's Kaisten base in Switzerland, while Irganox 1010 FF BMBcert and Irganox 1076 FD BMBcert are expected to be produced at Mclntosh base in the United States in early 2024.
2、 Evonik Expands Catalyst Capacity in China
On September 12th, Evonik announced that its precious metal powder catalyst factory in Shanghai, China has completed relocation and expansion. The new factory is located in the Evonik China Multi User Base (MUSC) in the Shanghai Chemical Industry Park and will officially start production in the fourth quarter of 2023. With the completion of the expansion, Evonik's precious metal catalyst production capacity in China will double.
With the completion of the new factory, Evonik has completed the upgrade of its global production network for precious metal catalysts. Five factories worldwide can now provide a complete set of services from catalyst customization, joint development, production, precious metal management, and recycling and refining.
图源:赢创官网
3、 Kesichuang's groundbreaking construction of a new TPU production base in China
On September 27th, Kesichuang held a groundbreaking ceremony for the new thermoplastic polyurethane (TPU) production base in Zhuhai, Guangdong. The new base will become the company's largest TPU production base in the future, equipped with advanced production processes and fully utilizing green electricity. It is expected to complete mechanical completion by 2025, with an annual production capacity of approximately 30000 tons.
TPU is a multifunctional plastic material that can be used for various applications, such as IT equipment such as sports shoes and floor sweepers, smart speakers, phone cases, paint protective films, and other automotive applications, or for protecting wind turbine blades.
4、 Saudi Aramco and Dongfang Shenghong Sign a Cooperation Framework Agreement
Saudi Aramco, a world leading integrated energy and chemical enterprise, signed a cooperation framework agreement with Jiangsu Dongfang Shenghong Co., Ltd. on September 27th to promote discussions on Saudi Aramco's possible acquisition of 10% strategic equity in Jiangsu Shenghong Petrochemical Group Co., Ltd., a wholly-owned subsidiary of Dongfang Shenghong. The transaction is subject to due diligence and necessary regulatory approvals.
Shenghong Petrochemical, through its wholly-owned subsidiary, owns and operates a 16 million ton/year integrated refining and chemical unit, a methanol to olefin and derivative combined unit, and a refined terephthalic acid production unit. According to the agreement, Saudi Aramco will supply crude oil and other potential raw materials to Shenghong Petrochemical. In addition, Saudi Aramco and Shenghong Petrochemical will also collaborate to develop large-scale expansion projects.
5、 Bolu and Nordic Chemical will increase their supply of cross-linked polyethylene to the Chinese market in 2025
On September 19th, Bolu Co., Ltd. and Nordic Chemical jointly announced that they would increase the supply of high-voltage cross-linked polyethylene (HV XLPE) products to the Chinese market starting from 2025. At the same time, the two companies reiterated their support for the Chinese offshore wind power market, electrification development, and energy supply chain.
It is reported that Bolu Co., Ltd. is a leading petrochemical enterprise that provides innovative and differentiated polyolefin solutions. Nordic Chemical is one of the world's leading producers of sustainable polyolefin solutions.
Market situation
On September 27th, the National Bureau of Statistics released data showing that from January to August, industrial enterprises above designated size nationwide achieved a total profit of 4655.82 billion yuan, a year-on-year decrease of 11.7%, a decrease of 3.8 percentage points compared to January to July. Among them, the profits of the chemical raw material and product manufacturing industry decreased by 51.1% year-on-year in the first eight months, while the oil, coal, and other fuel processing industries decreased by 68.9%.
According to the "Market Price Changes of Important Production Materials in the Circulation Field in Mid September 2023" released by the National Bureau of Statistics on September 24th, compared to early September, 34 product prices have increased and 16 prices have decreased. Among them, chemical products and oil and natural gas are mostly showing an upward trend.
New chemical projects
1、 ExxonMobil plans to invest $2 billion to build two chemical plants
ExxonMobil has announced a $2 billion expansion project to build two new chemical production units at its production base in Baton, Texas. These devices will produce high-performance polymers and linear a-olefin products, improving the performance of chemical products in automotive parts, building materials, hygiene and personal care products, and packaging.
2、 Wanhua Chemical Tertiary Butylphenol Project Commences Construction
Wanhua Chemical Group Co., Ltd. has started construction of the tert butyl phenol project in Yantai Industrial Park, which will promote the development of the polycarbonate industry. The project construction includes production facilities, storage and transportation engineering, as well as waste gas and wastewater treatment facilities. After the project is completed, it will produce an annual output of 12000 tons of tert butylphenol, 2300 tons of ortho tert butylphenol, and 0700 tons of 2,4-di tert butylphenol.
3、 Evonik and LEHVOSS establish a strategic partnership for industrial 3D printing
Evonik and LEHVOSS Group are establishing a strategic partnership in the field of industrial 3D printing. The core content of this collaboration includes two key initiatives: based on Evonik's PA613 polymer chemistry, LEHVOSS will develop its own 3D printing formula under its LUVOSINT product brand.
Starting from September 1, 2023, LEHVOSS will incorporate Evonik's polymer powder INFINAM PA 6005 P (PA613) into its own product portfolio. Through this strategic partnership, both industry partners are committed to paving the way for new applications in the automotive industry.
4、 LG Chem Announces the Establishment of a Biorefinery
On September 14th, LG Chemical announced that it would collaborate with ENI SM (Sustainable Mobility) to jointly promote the construction of a biofuel (HVO) refinery in Dashan, South Korea. After the completion of the joint venture factory, LG Chemical will lay the foundation for the supply of raw materials required for the production of biological SAP, ABS, PVC, etc. through the internalization of HVO. The design purpose of a potential biorefinery is to use the Ecofining "process developed by Eni in collaboration with Honeywell UOP, which is developed to produce high-quality fuel by utilizing various waste oils or raw materials.
5、 Shanghai Huayi New Materials Signed a Cooperation Agreement
On September 14th, the signing ceremony for strategic cooperation between Shanghai Chemical Research Institute Co., Ltd. (Central Research Institute of Huayi Group) and Shanghai Huayi New Materials Co., Ltd. was held. The achievement of this strategic cooperation will further promote the in-depth development of cooperation between the two institutions and enterprises, and help Shanghai New Materials accelerate its downstream extension to the acrylic resin and other industrial chains.
