Chemicals
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Fukoku set to launch US rubber parts plant
Fukoku set to launch US rubber parts plant
Houston, 30 January (Argus) — Manufacturer Fukoku plans to open a US plant for industrial rubber components, with operations scheduled to begin in January 2027. The Japan-based company has partnered with its consolidated Korean subsidiary, Fukoku Korea, to develop the facility through a newly established US entity, FKC America. The 50:50 joint venture aims to expand into new markets by combining products already used by Hyundai Motor with a new product lineup. The plant, located on a 59,489m² (14.7-acre) site in Virginia, will produce rubber products for damper pulleys, thermally conductive gap fillers and other battery-related products. The companies have pledged $7.4mn in capital for the project. Fukoku has maintained a US presence since 2001 through Fukoku America, based in Laurens, South Carolina, where it manufactures, warehouses and ships motor vehicle components. By Joshua Himelfarb Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
PE, PP margins hit decade low: LyondellBasell
PE, PP margins hit decade low: LyondellBasell
Houston, 30 January (Argus) — Low polyethylene (PE) inventories in the US will drive integrated margin recovery this year after 2025 had the lowest US polyolefins margins in a decade, LyondellBasell said today. North American integrated-PE margins averaged $580/t in 2025, putting them $250/t below the historical average of $830/t. North American polypropylene (PP) margins were $40/t, seven times lower than the historical average of $290, according to LyondellBasell. Olefins production volumes fell in the fourth quarter because of planned and unplanned facility maintenance. Inclement weather in January further disrupted production through in beginning of 2026. LyondellBasell expects PE prices to rise in the next quarter as buyers seek to replenish diminished stocks. The company expects an operating rate of 85pc of its olefins and polyolefins Americas assets, up from 75pc last quarter, in anticipation of this increased demand. Demand for PP remains low as the durable goods market is showing no sign of recovery. Interest rates cuts and softening inflation are expected to improve demand, but consumer confidence is lagging. Oversupply in China is further dragging down margins in the global market. "[Last year] was another exceptionally challenging year," said chief executive Peter Vanacker. "Industry margins remaining deeply depressed across all of our core businesses. Industry margins were approximately 45pc below historical averages, even worse than the already difficult conditions we saw in 2024." The company expects modest improvement in the first quarter due to the higher PE prices as well as improved seasonal demand and a resilient packaging market. By Maya Porter Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Eastman raises rPET output
Eastman raises rPET output
Houston, 30 January (Argus) — US recycling company Eastman's Kingsport, Tennessee, molecular recycling facility had its strongest year for chemical recycling in 2025, producing more than 2.5 times the amount of recycled content that it produced in 2024. The Kingsport facility generated approximately $60mn in incremental earnings in 2025 compared with 2024, as chemically recycled materials saw increased use from major brands including Pepsi. Eastman expects that momentum to continue into 2026 and projects about $39mn in additional circular economy earnings as rPET contract volumes increase and demand for chemically recycled content strengthens. "We are really the long-term solution to chemical recycling," said Mark Costa, board chair and chief executive officer. He added that mechanical recycling yields remain low because the process only cleans 25-35pc of clear bottles. Mechanical rPET degrades faster than expected, causing yellowing, graying, and even structural issues such as bottle collapse during case stacking, the company said. Eastman plans to expand the Kingsport facility's production capacity by 130pc to increase supply growth while development of a second chemical plant remains paused. The second facility is on hold following the loss of a US Department of Energy grant in June 2025. However, the Kingsport expansion and improved efficiency will allow Eastman to continue scaling chemical recycling production while maintaining strong cash flow. The company generated nearly $1bn in operation cash flow in 2025, reinforcing its ability to continue investing in circular technology despite market uncertainty. By Dona Davis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
MAK to shift Rotterdam PTA/PET units to Oman
MAK to shift Rotterdam PTA/PET units to Oman
London, 29 January (Argus) — Germany's MAK Group will relocate purified terephthalic acid (PTA) and polyethylene terephthalate (PET) assets from its complex in Rotterdam to Oman's Sohar Port and Freezone. The move marks another step in the migration of polyester-chain capacity out of Europe as producers struggle with rising costs and sustained competitive pressure from Asia. MAK's subsidiaries Sohar Petrochemicals and Sohar International Minerachem signed an agreement with Oman's state owned OQ to assemble a $550mn integrated PTA–PET complex in Sohar using the repurposed equipment. The relocated facility will have a combined output of around 1.5mn t/yr and will receive long-term paraxylene supply from OQ. The company will import additional feedstocks such as monoethylene glycol (MEG) and acetic acid through Sohar Port and transport them via a dedicated pipeline network. The facility aims to supply markets across the Middle East, Africa, Asia and Europe. MAK acquired the assets in Rotterdam after Thailand's Indorama Ventures shut them in 2024 because the economics of running them in Europe had become untenable. The shift reflects a broader contraction of Europe's PTA and PET footprint, including closures in downstream PET resin and fibre markets. The project is part of OQ's co-ordinated downstream expansion strategy for Oman. Recent agreements aim to retain more value domestically by linking petrochemical feedstocks to local manufacturing capacity across polymers, chemicals and specialty derivatives through Sohar's integrated port and pipeline infrastructure. By Yohanna Pinheiro Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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