Company Dynamic

The wave of capacity cuts in Europe's petrochemical sector continues, as two industry leaders, Westlake and INEOS, announced on June 17, 2025, the permanent closure of key facilities in Europe, resulting in 509 direct job losses.

Mexico's chemical sector could attract $50 billion in investment over the next decade, provided key challenges, such as improving the performance of state-owned Pemex, are addressed.

On June 17, 2025, Ascend Performance Materials announced its decision to begin an orderly shutdown of its hexamethylene diamine production facility in Lianyungang, China.

On June 16, 2023, Daqing Petrochemical, a subsidiary of PetroChina, announced the official approval of its polyolefin elastomer (POE) production optimization project.

Recently, China National Offshore Oil Corporation (CNOOC) announced the successful completion of Hong Kong's largest-ever single LNG bunkering operation.

On June 16, Syensqo, a global leader in advanced performance materials, announced a partnership with Fairmat, a French deep-tech company specializing in converting carbon fiber into scalable, high-performance recycled materials.

Eli Lilly, a U.S.-based pharmaceutical company, has announced plans to appeal the UK health agency's decision to reject reimbursement for its Alzheimer's drug Kisunla, effectively blocking access for patients under the state-run National Health Service.

Abbott, India’s second-largest drug seller, has partnered with MSD (Merck) to distribute its Sitagliptin brands, including Januvia, Janumet, and Janumet XR, across India.

Kumho Mitsui Chemicals (KMCI) has taken a significant leap in enhancing its production of methylenediphenyl diisocyanate (MDI) with the implementation of Thyssenkrupp Nucera's cutting-edge e-BiTAC v7 electrolyzer technology.

On June 13, Wanorong New Materials (Fujian) Co., Ltd. announced the second public notice for its environmental impact assessment of a 960,000-ton annual PVC production project.

On June 17, Ineos Phenol, the world’s largest producer of phenol and acetone, announced plans to permanently cease operations at its Gladbeck plant on a yet-to-be-determined date.

On June 17, 2025, pharmaceutical giant Eli Lilly announced the acquisition of Verve Therapeutics for up to $1.3 billion, including a $1 billion upfront payment. Following the announcement, Verve’s stock soared by over 80% at market close.

Pfizer is facing a class-action lawsuit from nearly 400 women who allege that the widely used contraceptive injection Depo-Provera caused them to develop meningiomas (brain tumors).

Renowned pharmacokinetics expert Zhong Dafang, who has contributed to over 20% of China’s novel drug metabolism studies, is embroiled in a high-profile legal battle with CRO company Novogene.

On June 21, China National Chemical Engineering Co., Ltd. (China Chemical) released its 2024 Annual Shareholders’ Meeting materials, unveiling a 2025 investment plan totaling 98.89 billion yuan.

BASF Coatings and Toyota Motor Europe have signed an agreement to jointly develop Toyota Body & Paint projects for Europe, laying the foundation for the two companies' long-term strategic cooperation on Toyota and Lexus brands.

• BASF
• Toyota

Sika announced on June 18 that it continues to deliver on its “Local for Local” strategy by launching three new manufacturing investments in China, Brazil and Morocco, reinforcing its commitment to serving customers through local production, global expert

• Sika

Kenvue is considering selling several underperforming skin health and beauty brands, including Clean & Clear, Maui Moisture, Neostrata, Bebe and Dr.Ci:Labo, to streamline its product portfolio and focus on core assets.

• Kenvue

Kumho Mitsui Chemicals (KMCI) has commenced operations at its chlor-alkali plant in Yeosu, South Korea, which uses thyssenkrupp Nucera's advanced e-BiTAC v7 electrolyser technology.

• Kumho Mitsui Chemicals
• Thyssenkrupp

Eastman, a global specialty materials company, announces the launch of Eastman Esmeri CC1N10, a high-performance, readily biodegradable cellulose ester micropowder for color cosmetics.

• Eastman