- In July 2022, Ineos Group Ltd signed three major agreements with SINOPEC, totaling USD 7 billion, to expand its chemical production footprint. This move strengthens Ineos' global position in the chemicals industry and enhances its capabilities in diversified chemical manufacturing. The expansion may influence the phosphoric acid market by supporting integrated production chains and improving supply efficiency. The partnership also reflects the strategic alignment of Western and Asian chemical sectors for long-term growth
- In January 2022, SABIC completed its transformation by launching a standalone agri-nutrients company focused on sustainable agricultural development. This strategic shift is expected to increase the company's involvement in phosphoric acid production to meet the growing demand for advanced fertilizer solutions. By offering end-to-end agricultural services, SABIC aims to strengthen its competitive edge in both domestic and international markets. This move also underscores the trend toward specialization and vertical integration in the sector
