Market Flash

May 26, 2025, the European Commission issued Regulation (EU) 2025/950, delaying the approval of 1R-trans phenothrin for use in biocidal products of product type 18.

May 27, 2025, the European Commission issued Regulation (EU) 2025/1043, approving formic acid as an active substance for use in biocidal products of product type 6.

German specialty chemicals firm Roehm Chemical is significantly expanding its presence in China, committing €250 million to bolster its integrated production base in Shanghai.

Germany’s chemical industry, the largest in Europe, is grappling with a significant downturn. In 2024, the sector’s revenue is projected to decline by approximately €2 billion, settling at around €221 billion, marking a 2% decrease from the previous year.

China National Chemical Engineering Co., Ltd. (CNCEC) announced that from January to April 2025, it signed contracts totaling an impressive ¥123.017 billion, with ¥104.883 billion from domestic deals and ¥18.134 billion from international markets.

China National Chemical Engineering Tianchen Company (TCC) has made a major leap in the Central Asian energy market by signing an EPC contract with Kazakhstan’s ERG Group for a groundbreaking waste gas power generation project.

On May 22, chemical giant Huntsman announced a major capacity expansion at its Conroe, Texas facility, signaling a strategic move to meet soaring global demand for semiconductor-grade materials amid the AI boom.

Honeywell announced the acquisition of Johnson Matthey Catalyst Technologies, which is expected to close in the first half of 2026, subject to customary closing conditions, including certain regulatory approvals.

• Honeywell
• Johnson Matthey

Sumitomo Seika Chemicals Co., Ltd. announced that it will stop production and sales of polyethylene powder resin products and polypropylene powder resin products at its Chiba Plant in March 2027.

• Sumitomo Seika

Lotte Chemical’s wholly-owned subsidiary, Lotte Chemical Titan (Malaysia), has signed a three-year naphtha purchase agreement with Saudi Aramco Trading Singapore Pte Ltd, strengthening its long-term feedstock partnership with the Saudi energy giant.

• Lotte chemical
• Saudi Aramco

In a resounding 8-0 vote, the FDA’s Oncologic Drugs Advisory Committee (ODAC) rejected Pfizer’s combination of Talzenna and Xtandi for treating mCRPC patients without HRR mutations (non-HRRm).

In a striking blow to one of the world’s largest healthcare giants, Johnson & Johnson’s Biosense Webster has been ordered to pay $147 million in damages to Innovative Health, a company specializing in reprocessed cardiac medical equipment.

On May 21, foreign ministers from China, Pakistan, and Afghanistan held a pivotal meeting in Beijing, reaching seven major agreements—the most consequential being the extension of the China-Pakistan Economic Corridor (CPEC) into Afghanistan.

The United States has dropped a tariff bomb, targeting solar panel imports from Cambodia, Malaysia, Thailand, and Vietnam with duties reaching as high as 3521%.

South Korea has voiced serious concern after China declared a three-day navigation ban in the Yellow Sea, an area near the maritime boundary between the two countries.

China’s Premier Li Qiang has reaffirmed Beijing’s commitment to deepening ties with Indonesia, stating that both countries will work together to advance “genuine multilateralism” in a rapidly shifting global landscape.

Beijing has issued a stern warning following reports that Australia may seek to reclaim control of Darwin Port, which was leased to Chinese company Landbridge for 99 years in a deal valued at 506 million Australian dollars.

China has lodged a formal protest against the European Union after Brussels imposed sanctions on eight Chinese firms over alleged support for Russia’s military sector.

Global chemical player OQ Chemicals has officially rebranded as Oxea, unveiling a refreshed identity aligned with its ambition for innovation, operational excellence, and strategic expansion.

On May 11, Merck announced that due to escalating tariffs, all shipments to China would incur additional fees starting May 12.