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Aromatics
Overview
The global aromatics market is made up of several diverse product markets and can be affected by a great many factors.
Benzene is a highly traded and volatile commodity because of its predominantly co-product nature and unpredictable supply. Styrene, benzene’s largest derivative, represents about 50pc of global benzene demand. Anyone involved in the benzene industry – directly or indirectly – needs market and pricing insight to anticipate supply shortages and large swings in pricing.
Meanwhile, the toluene and xylenes isomer markets are intertwined with the global markets for gasoline. Toluene and xylenes are highly traded commodities that create a lot of interest in the industry because of the various factors that affect demand growth. Outside of their inter-relationship with the gasoline markets, the major end-uses for these commodities vary across the world, from polyester fibres and food and beverage packaging to construction. Anyone involved in the toluene and xylenes industries – directly or indirectly – needs insight into how the toluene and xylenes markets can or will impact on their business, from raw material costs or as a price indicator for downstream products.
Our aromatics experts will help you determine what trends to track and how to stay competitive in today’s ever-changing global markets.
Latest aromatics news
Browse the latest market moving news on the global aromatics services industry.
Ineos Styrolution to close Sarnia SM plant
Ineos Styrolution to close Sarnia SM plant
Houston, 11 June (Argus) — Global styrenics producer Ineos Styrolution plans to permanently close its430,000 metric tonne (t)/yr styrene monomer (SM) production site in Sarnia, Ontario, by June 2026. "The long-term prospects for the Sarnia site have worsened to the point that it is no longer an economically viable operating asset," Ineos Styrolution chief executive Steve Harrington said on Tuesday. The Sarnia site was shut down on 20 April to address issues related to benzene (BZ) emissions after the Canadian government issued a BZ emissions control order on 18 April. The company said it continues to assess what would be required to restart the plant, a process that will require about six months. Ineos said complying with the BZ emissions control order was unrelated to the decision to permanently close the plant. Ineos said it has made several investments to ensure safe and reliable operations and that additional large investments unrelated to plant startup were necessary for site operations moving forward, which the company considers economically impractical. Ineos declined to comment further. Sources close to the company said Ineos has been fulfilling Sarnia's customer orders with products from Texas units in Baytown and Texas City. By Jake Caldwell Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Innova declares FM on Triunfo complex SM, PS
Innova declares FM on Triunfo complex SM, PS
Houston, 7 May (Argus) — Brazil-based styrenics producer Videolar-Innova (Innova) declared force majeure (FM) on operations at its Triunfo, Brazil, complex on 6 May following floods that impeded logistics in and around the state of Rio Grande do Sul. The floods starting on 1 May led to a temporary preventative shutdown of the complex on 3 May, the company said in a letter to customers. Blocked roads and highways prevented feedstock from reachign the site. The company continues to monitor the situation to determine when a safe restart can commence. The letter did not detail allocation specifications to customers. The complex includes a 199,000 metric-tonne (t) ethylbenzene-based styrene monomer (SM) unit, according to Argus data. Market sources said prompt styrene purchases from the region surfaced near the $1,350/t-level for small volumes this week, but counterparty confirmation was unavailable by market close. Spot styrene discussions last surfaced at $1,250-1,350/t on Monday. Innova owns and operates two derivative polystyrene production units in Manaus, Brazil. The Triunfo petrochemical site also produces general-purpose polystyrene, high-impact polystyrene and expandable polystyrene, according to the company website. By Nicole Johnson and Jake Caldwell Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
UK government delays DRS scheme by two years
UK government delays DRS scheme by two years
London, 25 April (Argus) — The UK Department for Environment, Food and Rural Affairs (DEFRA) confirmed the national UK deposit return scheme (DRS) launch has been delayed from Autumn 2025 to October 2027. The DRS will introduce a deposit on single-use drinks containers, which is refunded on the return of the container. In the policy statement led by Robbie Moore, the minister for water and rural growth, confirmed alignment in England, Northern Ireland, Scotland and Wales on joint registration and reporting, labelling, reciprocal returns, deposit level and minimum container size. In-scope materials remain an outstanding issue. PET bottles, steel and aluminium cans are included in all administrations. But the current Welsh DRS plans differ on scope of materials, with the addition of the inclusion of glass containers. "As stated in the consultation response published in January 2023, launching a DRS in October 2025 was a stretching target date. Additional time will be needed to efficiently and effectively roll out the schemes across the UK," Moore said. The DRS is expected to be implemented in three phases. Phase 1 includes the confirmation of regulations and or Deposit Management Organisations (DMO) to be appointed. Phase 2 allows time for DMOs to work with the industry to provide information needed to prepare for the launch of the DRS. Phase 3 encompasses the time businesses need to make changes for the implementation of the DRS. Under the new timeline, Phase 1 is anticipated to be completed by spring 2025, Phase 2 is planned between spring 2025 and 2026, and Phase 3 will occur between spring 2026 and autumn 2027. The government also announced plans to introduce extended producer responsibility for packaging. According to DEFRA, DRS is expected to boost recycling levels for in-scope containers to over 90pc by the third year of implementation. Nearly 60 schemes are due to be in operation internationally by the end of 2024. By Chloe Kinner Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan’s Mitsui Chemicals to cut phenol output capacity
Japan’s Mitsui Chemicals to cut phenol output capacity
Tokyo, 5 April (Argus) — Japanese petrochemical firm Mitsui Chemicals will permanently shut one of its phenol production units at its Ichihara plant in east Japan's Chiba prefecture by the April 2026-March 2027 fiscal year at the latest. Mitsui Chemicals decided to scrap the 190,000 t/yr phenol, acetone and a-methylstyrene production unit at the Ichihara plant, part of its plan to optimize its basic petrochemical businesses. The company cited oversupply of phenols in Asia, especially from China, the launch of new plants from 2022, as well as shrinking domestic demand. But the company will continue phenol production at its plants in west Japan's Osaka prefecture and Shanghai in China. Mitsui Chemicals has attempted to shift to low-carbon production, while promoting optimization of its manufacturing sites. The company has generated phenol from biomass-based naphtha, with its first delivery in February 2022 . It also agreed to sell its subsidiary Singapore Mitsui Phenol Singapore to UK petrochemical producer Ineos in August 2022. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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