Heavy olefins
Overview
Global butadiene production and demand are dominated by northeast Asia. Although the region continues to add both supply and derivative projects, there have been market inefficiencies that have resulted in deep sea imports into the region. Accurate and timely analysis will help producers, consumers and traders navigate these turbulent times.
The C5 and hydrocarbon resins industry has experienced a fundamental shift in the past few years, going from several acute shortages to a glut of products in the markets. Producers, industrial chemicals companies, chemical distributors, traders and technology providers all need to understand how this will play out, especially in light of new entries into the global market. Argus’ C5 and Hydrocarbon Resins Service is the only global service of its kind.
Our experts will help you determine what trends to track and how to stay competitive in today’s ever-changing global markets.
Latest heavy olefins news
Browse the latest market moving news on the global heavy olefins industry.
Pinus Brasil restarts derivatives site after fire
Pinus Brasil restarts derivatives site after fire
London, 3 August (Argus) — Brazilian pine chemicals producer Pinus Brasil will restart rosin derivatives production at a new facility today following a fire in August 2025, a company executive told Argus . The new site at its Buri complex in Sao Paulo state will have 20,000 t/yr gum rosin derivatives capacity, chief financial officer Eduardo Tonidandel said. The facility replaces the former rosin ester unit damaged by the 27 August 2025 incident, which did not affect gum rosin or gum turpentine output . The blaze, which affected a 1,000m² pine oleoresin processing warehouse, completely destroyed the nearby gum rosin derivatives building, sources familiar with the matter said at the time. Pinus Brasil will produce gum rosin glycerol and gum rosin pentaerythrityl esters, maleic and fumaric resins, modified, disproportioned and saponified gum rosin, and plasticisers. "New products are under development, with launches expected in the coming months," Tonidandel said. The Buri complex now has a combined 40,000 t/yr installed capacity for gum rosin and gum turpentine output, in addition to 20,000 t/yr derivatives capacity. The company said the new site includes upgrades in automation, technology, process safety, quality controls and sustainability. Pinus Brasil aims to expand its global market presence and reclaim its position as one of Brazil's largest gum rosin derivatives exporters. By Leonardo Siqueira Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Michelin restructures US tire manufacturing footprint
Michelin restructures US tire manufacturing footprint
Houston, 26 June (Argus) — Michelin North America will restructure its US manufacturing operations, with plans to consolidate production between two tire plants. The company informed stakeholders on 25 June that it will close its passenger car and light truck tire plant in Tuscaloosa, Alabama, starting in early 2027 and concluding by year-end 2028. Operations at the site have been temporarily idled until 29 June, as details are communicated to employees. Tire production and rubber-mixing at Tuscaloosa will be phased out over the next two years. About 1,200 workers at the site will be affected, with union leaders set to begin discussions on severance packages. At the same time, Michelin aims to shift nearly all production from its BFGoodrich Tires brand line to its Fort Wayne, Indiana, passenger car and light truck tire plant. "Due to the size, footprint and infrastructure of the Fort Wayne factory, the site is better positioned to consolidate the capacity and meet future demands for the success of BFGoodrich Tires," said Terry Redmile, senior vice president for manufacturing operations in the Americas. The move targets structural inefficiencies, particularly underutilization, that have weighed on the long-term sustainability of Michelin's North American manufacturing operations. The company added that its core recreation/off-the-road tire portfolio continues to faces competitive pressures despite maintaining market share and performance benchmarks. Michelin operates 34 industrial plants across the US and Canada, with production tailored to a wide range of tire segments, such as passenger vehicles, light and heavy trucks and specialty applications for aviation, agriculture and earthmoving equipment, according to a company fact sheet. By Joshua Himelfarb Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Eni seeks buyer for Brindisi cracking unit
Eni seeks buyer for Brindisi cracking unit
Milan, 29 April (Argus) — Italian energy company Eni has decided to sell its cracking unit at Brindisi in southern Italy and will appoint an adviser to find a buyer, Italy's industry ministry said. "With regard to the Brindisi site, Eni has told the minister it will pick a top international adviser to identify an industrial player interested in buying the activity earmarked for conservation [cracking]," the ministry said. The statement follows a meeting between industry minister Adolfo Urso and Eni on the group's plans, first announced in 2024, to transform three sites operated by Versalis, Eni's chemicals unit, in Puglia and Sicily. A sale of the Brindisi site, including the polyethylene plants, had not previously been contemplated when the cracking unit was shut early last year. Eni declined to comment on media reports naming US bank JPMorgan as a potential adviser. Versalis closed the Brindisi cracker in March 2025. The unit had ethylene capacity of 410,000 t/yr, propylene capacity of 220,000 t/yr and butadiene capacity of 145,000 t/yr. Versalis has continued to operate a 216,000 t/yr high-density polyethylene (HDPE) unit and a 205,000 t/yr linear low-density polyethylene (LLDPE) unit at the site using imported ethylene. LyondellBasell also continues to operate a 260,000 t/yr polypropylene plant at Brindisi. The ministry also said Eni's plans to build a lithium battery gigafactory at the Brindisi site for energy storage purposes were on track. Eni set up a joint venture with Seri Industrial in September last year, called Eni Storage Systems. At Priolo in Sicily, the ministry said the permitting process to reconvert the Versalis site was progressing. Eni and Kuwait's Q8 have committed to build and operate a new 500,000 t/yr biorefinery at the site, scheduled for completion in 2028. "Work on dismantling the cracking unit started in March," the ministry said. Work at Ragusa in Sicily to build a skills centre focused on safety and maintenance, alongside facilities to support bio and sustainable supply chains, is also under way, the ministry added. A further meeting between the ministry and Eni to update on the Versalis reconversion plans is scheduled for 25 June. By Stephen Jewkes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
South Korea approves Hyundai Chemical, Lotte merger
South Korea approves Hyundai Chemical, Lotte merger
Singapore, 25 February (Argus) — South Korea's trade, industry and resource ministry (Motir) has approved chemical producers Hyundai Chemical and Lotte Chemical Daesan's restructuring plans along with a support package on 25 February. Hyundai Chemical and Lotte Chemical jointly applied to merge their plants in November 2025 . Hyundai Chemical is a joint venture between Hyundai Oilbank and Lotte Chemical. This is the first project approved under South Korea's government-led rationalisation efforts across the Daesan, Ulsan and Yeosu petrochemical complexes. These efforts were in response to the industry's prolonged losses since 2021, driven by rapid capacity expansions, particularly in China. Under the approved plans, Lotte Chemical will merge its Daesan petrochemical plant with Hyundai Chemical, integrating the naphtha cracking centre (NCC) and downstream units. Parent companies Lotte Chemical and Hyundai Oilbank will invest 600bn Korean won ($420mn) each and will share equal ownership of the newly integrated corporation. The restructuring is expected to take three years, during which Lotte Chemical will suspend its 1.1mn t/yr ethylene cracker in Daesan, and reduce operations of low-profit downstream facilities to curb oversupply in the Daesan petrochemical complex. The newly integrated corporation aims to focus on producing higher value-added and eco-friendly products instead of general-purpose products, Motir said. The South Korean government will also provide a customised support package worth W2.1 trillion, which will include financial, taxation, regulatory, cost structure improvement, employment, and technology development assistance for the firms' restructuring implementation. But the specific financial measures are to be finalised by the Korean Development Bank after consultations with institutional creditors. Other key producers including YNCC, GS Caltex, LG Chem, S-Oil, SKGC, and KPIC also submitted their business restructuring proposals in December 2025, and are under government review. The submitted plans would meet the collective target to reduce the nation's naphtha cracking capacity by 2.7mn-3.7mn t, according to the ministry. But revisions to the plans have been requested, and finalised drafts for restructuring plans for the Yeosu and Ulsan petrochemical complexes are expected by the end of the first quarter of 2026, said market sources close to South Korean cracker operators. By Angie Liew Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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