Japan Sunoil withdrew from styrene business

Recently, Japan Sunoil announced that the company had decided to withdraw from the styrene business and close the 370000 t/a styrene plant in Yubu, Yamaguchi, Japan, but did not disclose the specific closing time.

In 2004, Sunoil acquired the styrene business of Mitsui Chemical, including Yubu Plant. Sun Oil said that in recent years, with the world's efforts towards carbon neutrality, the styrene market is expected to be in an uncertain business environment. For this reason, the company decided to withdraw from the existing styrene production business and renovate the Yamaguchi plant. Sun Oil also operates a 397000 t/a ethylbenzene (EB) raw material plant in Ubu. The company has not said whether the EB plant will be closed.

According to S&P's global data, Japan's total styrene production capacity is 2.02 million tons/year. Sunoil is the fourth largest styrene producer in Japan. Chuguang Xingchan is the largest manufacturer with a capacity of 550000 tons/year in Chiba and Shunnan plants. NS styrene monomer company has a capacity of 440000 tons/year in Dacheng, and is the second largest styrene producer in Japan. Asahi is the third largest producer, with a capacity of 390000 tons/year in Cangfu.