ACETIC ACID MARKET ANALYSIS
Global Acetic Acid Market: Recent Developments
January 2023: Kingboard Holdings Limited announced that the company's unit, Hebei Kingboard Energy Development Co., Ltd., plans to submit the 'Environmental Impact Report of Hebei Kingboard Energy Development Co., Ltd. Acetic Acid Expansion and Transformation Project' for approval, and the entire content of the environmental impact study is accessible.
June 2022: Hebei Kingboard Energy Development Co., Ltd. announced the beginning of construction of an acetic acid facility with a capacity of 29, 80 tons per year. The CNY 23.20 billion (US$ 3.6 billion) project was based on a 35, 20 tons/year carbon capture and recycling project to establish a high-value-added carbon neutrality demonstration park for innovative chemical materials and realize low-carbon development.
March 2020 – South Korea’s Lotte and U.K. energy and chemicals group BP had a joint venture to expand the capacity for acetic acid production at the South Korea plant. The investment costs are around US$ 175 million, with an addition in the capacity of 100,000 t/y by May 2019. This venture will allow companies to meet Korea’s growing demand.
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