- In April 2023, BioBTX B.V. and Agilyx ASA announced a strategic partnership to scale up BioBTX’s renewable aromatics technology. This collaboration integrates Agilyx’s pyrolysis process with BioBTX’s catalytic conversion, enabling the production of sustainable benzene, toluene, and xylene (BTX) from post-consumer plastic waste. The initiative aims to establish a commercial demonstration plant, supporting the global demand for eco-friendly chemical solutions. The partnership reinforces circular economy principles, advancing renewable carbon sourcing for industrial applications
- In January 2023, Reliance Industries Limited (RIL) kept the Mixed Xylene (MX) price steady at INR 78/kg (approximately USD 1/kg) in the Indian market. This consistent pricing strategy aims to support stable demand growth, particularly in PET production and solvent applications. By maintaining a competitive rate, RIL reinforces its strong market position in the Asia-Pacific region, ensuring cost-effective supply for industrial consumers. The decision aligns with global trends in xylene pricing, contributing to market stability.
- In April 2021, Indian Oil Corporation Limited (IOCL) awarded a million EPCC contract to Tecnimont Private Limited for an integrated paraxylene (PX) and purified terephthalic acid (PTA) facility in Paradip, Odisha. The project aims to produce 800 kilotons of PX annually, supporting mixed xylene supply for PTA production and addressing the growing demand for PET in packaging and textiles. The facility is expected to be operational by 2024, reinforcing India’s petrochemical industry
- In September 2021, Mitsubishi Gas Chemical (MGC) announced the expansion of meta-xylenediamine (MXDA) production in Europe, addressing rising demand in epoxy, polyamide, and isocyanate sectors. The company is constructing a 25,000 MTA plant in Rotterdam through its new subsidiary, MGC Specialty Chemicals Netherlands B.V., with operations set to begin in mid-2024. MXDA is widely used in epoxy coatings for infrastructure applications, offering excellent anticorrosion properties. The expansion strengthens MGC’s global market presence, ensuring stable supply worldwide
- In January 2021, INEOS completed the $5 billion acquisition of BP’s global Aromatics & Acetyls division, expanding its petrochemical portfolio and market reach. The deal includes 15 manufacturing sites worldwide and 10 joint ventures, strengthening INEOS’s presence in the polyester and acetyls industries. The newly integrated businesses, INEOS Aromatics and INEOS Acetyls, enhance global supply chains for PTA, PX, acetic acid, and derivatives, supporting food, pharmaceuticals, paints, adhesives, and packaging sectors
