Chemical
India's chemical demand likely to jump to $1,000 billion by 2040: Report
India is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades as domestic demand is projected to rise to USD 1,000 billion by 2040, McKinsey said in a report. In the report titled 'India: The next chemicals manufacturing hub', McKinsey said the country's chemical industry has been a global outperformer in demand growth and shareholder wealth creation over the last decade. "It now stands poised to play an increasingly dominant role across both consumption and manufacturing in the global arena," it said. The sector is projected to grow at 11-12 per cent during 2021-27 and 7-10 per cent during 2027-40 -- tripling its global market share by 2040. "India is expected to account for more than 20 per cent of incremental global consumption for chemicals over the next two decades. Domestic consumption and demand is expected to rise from USD 170-180 billion in 2021 to USD 850-1000 billion by 2040," it said. Chemicals find wide usag
 "India's chemical demand likely to jump to $1,000 billion by 2040: Report")
Robust demand trends in chemicals biz, expansions positive for SRF stock
Company has increased capex for the business to tap into new opportunities
 "Robust demand trends in chemicals biz, expansions positive for SRF stock")
Input cost hike, freight rates drag chemical MSMEs in Gujarat to 50% output
Of the 11,000-odd units in the state, which account for nearly 40 per cent of India's chemical output, almost a third have turned sick
 "Input cost hike, freight rates drag chemical MSMEs in Gujarat to 50% output")
BASF, partners put $4 bn India chemical complex on hold due to COVID-19
BASF in April scaled back its investment budget as the coronavirus crisis hit automakers, the chemicals giant's biggest customers.
 "BASF, partners put $4 bn India chemical complex on hold due to COVID-19")
Centre moves to limit use of controversial herbicide glyphosate
Industry terms the move detrimental to India's food security; activists say 'useless'
 "Centre moves to limit use of controversial herbicide glyphosate")
Reliance opens research centre for polymer applications at Vadodara
The centre will offer services to not just to RIL's polymer business, but also for its customers
 "Reliance opens research centre for polymer applications at Vadodara")
Nuberg bags EPC contract for caustic soda plant project in Egypt
Egyptian Petrochemicals has awarded the contact to the company to set up the 228-TPD plant
 "Nuberg bags EPC contract for caustic soda plant project in Egypt")
L&T to partner Institute of Chemical Technology for 2G ethanol plants
LTHE & ICT to provide complete solutions in setting up 2G ethanol plants, based on ICT technology
 "L&T to partner Institute of Chemical Technology for 2G ethanol plants")
AkzoNobel unveils new strategy to accelerate growth
Plans separation of specialty chemicals business within 12 months & investment €1 bn in R&D by 2020
 "AkzoNobel unveils new strategy to accelerate growth")
ExxonMobil plans $20 bn investment to expand manufacturing in US
It will make investment, spread over 10-year, in major chemical, refining, lubricant & LNG projects
 "ExxonMobil plans $20 bn investment to expand manufacturing in US")
Auto, construction sectors to drive Asia-Pacific coating resins market
Growing focus on innovations to create opportunities in Indian coating resin market, says TMR report
 "Auto, construction sectors to drive Asia-Pacific coating resins market")
Camlin Fine Sciences to buy 51% stake in Chinese chemical firm
Ningbo Wanglong supplies flavour and fragrance products (vanillin) to food manufacturers globally
 "Camlin Fine Sciences to buy 51% stake in Chinese chemical firm")
PE firm Blackstone buys Solvay's cellulose acetate tow business
The transaction is based on an enterprise value of about € 1 billion
 "PE firm Blackstone buys Solvay's cellulose acetate tow business")
Total to partner with Suez to recycle cooking oil into biofuel
As per the deal, Suez will annually supply 20,000 MT of used cooking oil to Total's La Mede biorefinery, where it will be processed into biofuel
 "Total to partner with Suez to recycle cooking oil into biofuel")
Dow eyes power plants for new wastewater treatment technology in India
With Fortilife, which enables minimum liquid discharge (MLD), Dow Water & Process Solutions aims to tap water intensive industries such as textile, power, etc
 "Dow eyes power plants for new wastewater treatment technology in India")
Praxair to supply oxygen & nitrogen for MEGlobal's ethylene glycol plant
As part of this project, Praxair will also construct a new carbon dioxide purification and liquefaction facility
 "Praxair to supply oxygen & nitrogen for MEGlobal's ethylene glycol plant")
Praxair and GE Aviation form JV to develop specialised coatings
The JV company, PG Technologies, will focus on development and application of specialised coatings tailored for GE Aviation's and CFM International's current and future engine models
 "Praxair and GE Aviation form JV to develop specialised coatings")
Reliance to shutdown FCC unit in Jamnagar refinery for maintenance
The shutdown, which will start from the second week of November 2016 for about 5 weeks, will provide an opportunity to carry out a revamp job in one of the polypropylene units
 "Reliance to shutdown FCC unit in Jamnagar refinery for maintenance")
BASF's German chemical complex catches fire resulting in death of two
Fires at Ludwigshafen site, triggered due to an explosion during work on a pipeline that carried ethylene and propylene product, has resulted in the shutdown of steam crackers
Environment Ministry orders incineration of high GWP HFC-23
HFC-23, a potent greenhouse gas with Global Warming Potential (GWP) of 14800, is produced as a by-product of HCFC-22 manufacturing, and if vented out it is a threat to environment
 "Environment Ministry orders incineration of high GWP HFC-23")
