Ineos

Global capacity to grow by more than 5% per year – Global Data report / China leads investments

Overall market stagnates / Imports cause problems for the industry / Use of rPET for new products steadily increases / Recyclers criticise inconsistent regulations in EU countries

Market seems to have bottomed out / Western players increase production / 2023 coloured with red

PET/PTA production in Rotterdam under scrutiny / Thai group reorganises activities

North America March 2024: Prices rise with firm energy rates / Cautious recovery in processing segments / Active hurricane season expected / Easing of feedstock costs caps expectations for April

Shortage of supply causes prices in Europe to soar / Plant failures and low demand

Acquisition of Lavera plants from TotalEnergies finalised

Companies combine to supply packaging film containing 50% recycled material / New product meets strict EU food-grade requirements

North America February 2024: Prices vary as feedstocks rise, demand remains subdued / Forces majeures prop up PP / Engineering thermoplastics roll over / Polymers expected to be firmer

Follow-up: Environmental associations go to court over Ineos Project One / “Destructive and completely unnecessary”

Chairman's letter to EU leaders bemoans lack of competitiveness

Phenol, acetone, cumene: Ineos reportedly declares force majeure in Germany

Gain from divestment flatters 2023 profits despite depressed sales

North America January 2024: Crackers, refineries come to a halt due to cold weather / Higher feedstock costs prevent decreases / Standard grades expected higher in February, engineering plastics to remain weak

Polyolefin group reports sales, earnings decline / Tighter cost-cutting measures announced

Ineos declares force majeure for HDPE pipe grades from Belgium

Ineos declares force majeure for PP from US plant in Texas – report

Onset of winter cripples plants in Texas, Louisiana / Exports to Europe only affected to a small extent

German cumene plant starts production

Supplier secures new environmental licence / Large-scale Project One cracker a go again

Better results likely in 2024 / Demand to remain soft / Firms send mixed messages

The plastics industry continues to work in a state of emergency / Slumps in demand, cheap imports and ever-new regulations make life difficult for producers and processors / Producers on the other side of the Atlantic also face more difficulties

Resin producer reportedly plans to close Scottish chemicals plant / 100 jobs at risk

Shutdown at Belgian PTA line to become permanent

"It's about more than just PET," says Daniel Stricker