Page 36 - Plastics News January 2017
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FEATURES 10
INDIA 2017
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Where the future of plastic is...
JAN 2017
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decision to scale back its investments in commodity *Indorama Ventures Ltd. (IVL) acquired a majority stake
chemicals such as PTA to focus on other businesses. in Dhunseri Petrochem. IVL is a Bangkok-based polyester
* Indorama Ventures Public Company Limited announced producer founded by Indian-origin businessman Aloke Lohia.
acquisition of BP's petrochemical plant at Decautur, which
will be renamed Indorama Ventures Xylenes & PTA LLC, * Teknor Apex Company acquired Plastic-Technologie-
for an undisclosed amount. The complex has capacity to Service (PTS), a German-based custom compounder
produce 1 mln tpa of purified terephthalic acid (PTA). of thermoplastic elastomers (TPEs) and engineering
* German chemical company Lanxess plans to buy US based thermoplastics (ETPs). PTS operates a state of the art
Chemtura Corp. for US$2.7 bln, a deal that should help manufacturing plant at Steinsfeld, Germany with more
it expand beyond its synthetic rubber business. Lanxess than 20,000 tons of installed capacity, as well as a
said the acquisition, its largest ever, would expand its technical support facility.
activities in additives for lubricants and flame retardants
and strengthen business in North America. * RadiciGroup Performance Plastics signed an agreement
for the purchase of the Engineering Polymer Solutions
* Sumitomo Chemical will begin production of polypropylene business of the American company INVISTA to further
compounds for makers of home appliances and automotive strengthen and expand its presence in both the American
parts in India . The annual capacity is planned at 5,000 and European markets.
tons at a Chennai facility at an investment outlay of
approximately US$5-10 million. * Mexichem has acquired Vinyl Compounds Holdings Ltd.
*Specialty chemicals company LANXESS has started up a (VCHL), a leading U.K.based technical PVC compounds
second production line for plastics compounding at its manufacturer serving a broad range of industries including:
Gastonia, NC facility. The new line represents an investment building and construction, pipe and profile manufacturers,
of about US$15 mln and doubles the site’s capacity. footwear and consumer goods.
It will produces the Durethan (polyamides) and Pocan
(polybutylene terephthalates), which are used primarily Petrochemical Industry Outlook
in the automotive industry to manufacture lighter-weight
plastic components that can replace metal parts in vehicles. Petrochemical Industry Outlook in largest growing regions
* Polyplastics Co., Ltd. has decided to expand its of the world as per Business Monitor International (BMI) a
engineering plastics compound plant in Malaysia operated research firm that provides macroeconomic, industry and
by Polyplastics Asia Pacific Sdn. Bhd. (PAP), a wholly owned financial market analysis.
local subsidiary headquartered in Kuala Lumpur. Additional
production capacity of 9,000 tpa will be added at the China: The decline in the value of the yuan, as well as
plant in Kuantan, Pahang State, increasing total capacity market tightening in some segments, has benefited the
to 35,000 tpa. Chinese petrochemicals industry, which has struggled
with competitiveness. The result of rising domestic
production will be a cut in imports and, in segments
such as polyvinyl chloride (PVC) where China produces
a surplus, rising basic polymers exports. This is our core
scenario over the short term, and one that will lead to a
glut in Asian petrochemicals supply that should be felt in
2017. However, with naphtha and ethane at a low price,
in the long term the drive towards coal- and methanol-
based chemicals will put the industry at a disadvantage.
Chinese petrochemicals output gathered pace in the first 8
months of 2016, with ethylene output up 6.6% y-o-y to 13.9
mln tons and primary plastic production rising 7.9% y-o-y
to 66.4 mln tons. Plastic product volumes grew 5.2% y-o-y
to 65.2 mln tons. Although petrochemicals output is rising,
• January 2017 • Plastics News 36
