Market Flash

In a historic move, China, Japan, and South Korea have reignited discussions after 23 years, signaling a pivotal moment for economic cooperation in East Asia.

In a surprising turn of events, Li Ka-Shing's planned sale of two strategic ports in Panama has been abruptly halted.

On March 30, the Shanghai Stock Exchange announced the termination of the review process for Hunan Zhongchuang Chemical Co., Ltd.'s initial public offering (IPO) on the Shanghai Main Board.

On March 19, 2025, the European Food Safety Authority (EFSA) published risk assessment reports regarding the consumption, feed use, import, and processing applications for genetically modified corn DAS1131.

Recent developments in the domestic urea market indicate a steady increase in prices, prompting various stakeholders to reassess their positions.

Quaker Houghton has entered into a purchase agreement to acquire Dipsol Chemicals (Dipsol), a leading provider of surface treatment and plating solutions and services for automotive and other industrial applications, for 23 billion yen.

• Quaker Houghton
• Dipsol

UK-based oil and gas giant Shell said on the 25th that it is seeking to improve the performance of its chemical asset base by exploring strategic partnerships in the U.S. and closing plants in Europe.

• Shell

India imposed anti-dumping duties on five Chinese products this month, including soft ferrite cores, vacuum insulated bottles, aluminum foil, trichloroisocyanuric acid and polyvinyl chloride paste resin.

• India
• China
• Tariffs

Gulbrandsen, a global leader in the production of specialty polyethylene waxes and polymers, has announced plans to increase polyethylene wax production capacity and build a new functional polymer plant at its facility in Dahej, India.

• Gulbrandsen
• polyethylene waxes
• polymers
• India

China Western Power Industrial Co., Ltd. has signed a landmark $1.45 billion agreement with Laos’ Xekong Thermal Power Plant Co., Ltd to advance clean energy infrastructure in Laos. The deal was announced in a stock exchange filing on March 24.

• China Western Power
• Laos
• clean energy

OMV has announced a major milestone for the chemical industry after 15 years of groundbreaking research and development.

• OMV
• ReOil
• plastic recycling plant

Easpring Finland New Materials Oy plans to start construction work on the plant in April 2025 in the Keltakallio industrial area in Kotka.

• Easpring
• Finland

Ecovyst has entered into an agreement to acquire the sulfuric acid production assets of Cornerstone Chemical Company, located in Wagman, Louisiana.

• Ecovyst
• Cornerstone

Piramal Critical Care, part of Piramal Pharma, along with BrePco Biopharma from Ireland, announced that they have received marketing approval from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for Neoatricon.

“Technical Specification for Risk Classification Control of Hazardous Chemicals Safety Production” (GB/T45420-2025), drafted by the China Petroleum and Chemical Industry Federation, will officially implement on September 1 this year

The European Food Safety Authority (EFSA) has recently reaffirmed its previous conclusion that silica (E551), also known as synthetic amorphous silica (SAS), is safe as a food additive under the reported usage levels and methods.

OQ Chemicals will start dedicated production of heptanoic acid in Oberhausen, Germany, in June 2025.

• OQ Chemicals
• heptanoic acid

Plastic Recycling Europe (PRE) warns that the European plastic recycling industry is facing severe challenges as plant closures on the continent continue to escalate.

• Plastic Recycling Europe
• PRE

Kemira will invest millions of Euros to expand several strength chemical production lines for paper, board and tissue at its Wellgrow mill in Thailand. The expansion project will start in 2026.

• Kemira
• paper
• board
• pulp
• Thailand

Sumitomo Chemical has accelerated the global registration process for its innovative herbicide, Rapidicil (active ingredient: Epyrifenacil).