Vietnam Plastics News

Related Plastics, Polymers, and Elastomers Industry News

• September 2023: BEWI made a significant announcement regarding its long-term strategic collaboration with the Karl Bachl Group for the supply of EPS (expanded polystyrene) raw materials, including recycled EPS. This partnership marks a significant development for both companies, signifying a shared commitment to sustainability and the pursuit of a circular economy.
• November 2022: BEWI completed the acquisition of EPS producer Jackon. The acquisition was previously expected to conclude by the end of the third quarter of 2022, following the completion of divestments. EPS is a rigid form of polystyrene (PS) used in insulation foams for the construction industry as well as for packaging.
• September 2022: Sundolitt Ltd, the UK division of Sunde AS, acquired FoamExtra Ltd, based in Glasgow. Sunde AS is one of the leading European manufacturers in the production and conversion of EPS and XPS-based products.

• August 2022: Kumho Petrochemical will be KRW6,000 billion (~USD 5.10 billion) into existing and new businesses in the next five years. As part of the initiative, Kumho will invest KRW 3,300 billion (~USD 2.81 billion) in its core business areas, which include nitrile butadiene latex (NB latex) production and styrene solution butadiene rubber (SSBR) manufacturing.

• April 2023: The China Petroleum and Chemical Corporation subsidiary Hainan Baling Chemical New Material Co. Ltd invested RMB 1.92 billion (USD 279.74 million) in the Hainan Baling project and initiated the production of its styrene-butadiene copolymer (SBC) project in Hainan, China. The project's SBC plant produces 170,000 tons of SBS and SEBS products annually, including 120,000 tons of SBS products and 50,000 SEBS products.
• August 2022: Kraton announced the expansion of the production capacity of styrene block copolymers at a manufacturing facility in Mailiao, Taiwan. This strategic move was expected to increase the capacity of the facility by 30% for the styrene-ethylene-butylene-styrene product range.

• November 2022: ExxonMobil and PT Indomobil Prima Energi (IPE) signed a memorandum of understanding (MoU) to explore the potential for the large-scale implementation of advanced plastic recycling technology in Indonesia.
• September 2022: Toyobo announced an investment of USD 72 million to open a new polyester film packaging facility at Pt. Trias Toyobo Astria (TTA) in Indonesia. Through the expansion, the company has strengthened its market presence.

• The recent developments pertaining to the major players in the market are being covered in the complete study.

• June 2023: Carpenter Co. acquired the Engineered Foams Division of Recticel NV. This acquisition helped produce the world’s largest vertically incorporated manufacturer of polyurethane foams and specialty polymer products. Moreover, this acquisition is expected to bring innovations in polyurethane foam through the industry’s leading materials, such as Serene Foam and Hybrid TheraGel Memory Foam.
• July 2022: DIC Corporation acquired a Chinese coating resin manufacturer named Guangdong TOD New Material Co. Ltd. This acquisition supported DIC Corporation in expanding its coating resins capacity for different resins, including acrylic, alkyd, polyester, urethane, and epoxy, in the Asian market.

• January 2023: UBE Corporation announced the expansion of its polyimide hollow fiber production facilities for gas separation membranes at its Ube Chemical Factory and the gas separation membrane module production facilities at its Sakai Factory in order to meet rapidly growing demand, particularly for CO2 separation membranes. Both expanded facilities are scheduled to go online in the first half of fiscal 2025, increasing production capacity by about 1.8 times.
• January 2022: Toray Industries, Inc. developed a polymeric separation membrane module that can selectively and efficiently permeate hydrogen from mixed gases that contain hydrogen. The new module more than halved the carbon dioxide emissions of hydrogen purification processes and the number of modules required.

• February 2023: Eastman Chemical Company acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia-Pacific region. This acquisition demonstrates Eastman's commitment to driving growth in performance films and the paint protection and window film markets. The investment further strengthens the company's ability to deliver consistent, superior value as a specialty materials company and expands the service level in China and the Asia Pacific region. This site will align with Eastman's performance film operations and its high standard of quality supply into the market.
• April 2022: Avery Dennison introduced its all-new Dusted Crystal decorative architectural window film. The frosted film, available in a matte and luster finish, offers privacy while providing a translucent light effect for interior environments using glass to signify specially-designated spaces. The film features a remarkable, first-to-market, wet-apply quick-release adhesive that allows the film to be repositioned during installation and removed easily after drying with virtually no residue left on the glass. Moreover, the film's adhesive doesn't stick to itself, eliminating mishaps when removing the film from its liner before application.

• May 2022: Evonik Industries AG extended a strategic distribution collaboration with Vimal Intertrade and Nordmann in India to produce its VISIOMER specialty methacrylate that will allow faster response and flexibility as support for new market trends.
• August 2021: Dow announced an investment in Methyl acrylate production in the US Gulf Coast to improve reliability and access to raw materials. The new 50-kiloton nameplate capacity of methyl acrylate will be manufactured in St. Charles Operations in Louisiana, USA, enabling global growth with a focus on supplying North American demand.

• August 2022: BASF launched Thermoplastic Polyurethane Paint Protection Film from RODIM for improved car paint protection.
• April 2022: Covestro extended its TPU film production in Germany. The new capacity is expected to meet the growing global demand for multilayer TPU Films. It is used in construction, and automotive interiors, among other applications. This new facility is likely to be completed by 2023.