- In November 2023, INEOS Phenol acquired Mitsui Phenol Singapore for $330 million. This strategic move enables INEOS to expand its presence in Asia, supporting global customer growth and introducing bisphenol A to new markets, thereby enhancing its position in the phenol derivatives industry.
- In November 2024, Haldia Petrochemicals Ltd. signed a license agreement with Lummus Technology to increase its phenol production capacity from 300 KTPA to 345 KTPA at its West Bengal plant. This expansion aims to meet the rising demand for phenol in India.
- As of January 2025, the European phenol market is experiencing headwinds due to weak demand and global oversupply. Major producers are adjusting production capacities, with some facilities closing, in response to declining profitability and market saturation.
- In March 2025, US phenol prices increased by 3% due to supply tightness and rising benzene costs. Despite steady demand, market volatility persists, influenced by potential tariffs and uncertainties in the construction and automotive sectors.
- In June 2024, Dow introduced its REVOLOOP Reusable Polymers Resins group, focusing on converting waste into sustainable materials. This initiative underscores Dow's commitment to promoting sustainable development within the phenol derivatives market.
