Market News
Key takeaways of the market
- In July 2019, Hyundai Chemical, a 60:40 joint venture between Hyundai Oilbank & Lotte Chemical, expanded production capacity of xylene from 1.2 million tons per year to 1.4 million tons per year. Also, the production capacity of paraxylene would be increased to 1.36 million tons per year from 1.18 million tons per year.
- In August 2018, Idemitsu Kosan Co., Ltd started production of mixed xylene at Aichi refinery. The addition of production capacity of 170 kilo tons per year was done to deal with supply demand changes that take place in petroleum product & petrochemical raw material.
- In May 2017, Lotte Chemical invested US$ 3.2 million to increase production capacity of meta-xylene & polycarbonate to 360 kilo tons per year and 210 kilo Tons per year respectively in South Korea. This investment was done to meet increasing demand for chemicals used in the manufacturing of automotive parts & plastic bottles.
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