Market Flash

According to an official announcement from the EU, on December 2, 2024, the European Commission issued Regulation (EU) 2024/2964, approving polymeric betaine as an active ingredient for biocides in product category 8.

South Korean petrochemical major Lotte Chemical has begun shutting down its ethylene glycol (EG) and methyl methacrylate (MMA) production facilities at its Yeosu Plant 2.

• Lotte chemical

Arkema has completed the acquisition of Dow’s Flexible Packaging Laminating Adhesives business, one of the world’s leading producers of flexible packaging adhesives.

• Arkema
• Dow

The Ministry of Economy and Finance announced a flexible tariff operation plan for 2025, which includes maintaining zero tariffs on crude oil used to produce naphtha throughout next year.

• Naphtha
• South Korea

Hovione, headquartered in Lisbon, Portugal, has completed a major expansion in Europe and the US.

• Hovione

On November 27, 2024, the European Food Safety Authority (EFSA) announced that its Nutritional, Novel Foods, and Food Allergens (NDA) panel has published a scientific opinion on the safety of tiger nut oil (Cyperus esculentus oil) as a novel food.

As of the week ending November 29, 2024, global oilseed prices have been fluctuating, with Chicago soybean futures rebounding from recent lows, primarily due to record-high soybean export sales from the U.S. and continued purchases by China.

On November 28, 2024, the European Food Safety Authority (EFSA) released its annual summary report on Transmissible Spongiform Encephalopathies (TSE) for 2023.

Recently, at the 2024 China Coatings Industry Information Annual Conference and the 12th China Coatings Technology Innovation Summit Forum, Liu Jie, Secretary-General of the China Coatings Industry Association (CCIA), released an analysis report on the de

In recent years, the global automotive market has faced growth bottlenecks, becoming a highly competitive "red ocean" market. In this context, the rise of new energy and intelligent technologies is leading industry transformation.

Sparc Technologies claims improved anti-corrosion properties from solvent-based coatings with added graphene to more environmentally friendly water-based alternatives.

• Sparc Technologies

On November 27, 2024, Jaguar Land Rover, in collaboration with Dow and Adient, announced a technological breakthrough in recycling used polyurethane seat foam, marking its first application in the production of new seats. Preliminary tests show that mater

EU member states have approved the imposition of final anti-dumping duties on titanium dioxide imported from China. About 15 countries supported the move, while 8 opposed it and 4 abstained.

On November 26, 2024, Japan's Sumitomo Chemical announced the transfer of its caprolactam production technology (gas-phase Beckman rearrangement technology) to HighChem Co., Ltd., with both parties signing an agreement. HighChem will inherit and plan to g

According to data from the National Bureau of Statistics, from January to October this year, the total profit of industrial enterprises above designated size nationwide reached 586.804 billion yuan, a decrease of 4.3%. Among these, profits in the oil and

From November 18 to 22, the chemical machinery index was the only index to rise, while the other six indices experienced declines. In the chemical sector, the chemical raw materials index fell by 0.47%, the chemical pharmaceuticals index dropped by 1.78%,

Eli Lilly reported total revenue of $31.5 billion for the first three quarters of the year, reflecting a 27% year-on-year increase, driven by strong performances from Tirzepatide and Semaglutide, which together generated over $20 billion in sales.

Cassava Sciences announced on November 25, 2024, that its Phase III ReThink-ALZ study failed to meet primary and secondary endpoints for treating mild to moderate Alzheimer's disease.

On November 26, 2024, Taiwan's Food and Drug Administration released a list of non-compliant food items discovered during border inspections, including a batch of black pepper from South Africa found to contain illegal coloring agents.

Ube Industries, Ltd. has decided to expand the production capacity of high-purity nitric acid at the Ube Chemical Plant (Ube City, Yamaguchi Prefecture) to meet further growing demand in the future.

• UBE Industries