Sinochem International sets foot in the Plastic Additives Business
- 02-Sep-2021 4:38 PM
- Journalist: Nina Jiang
China’s leading chemical company Sinochem International, declared its launch into the plastic additives business on August 26, 2021, after attaining full acquisition of Jiangsu FOPIA Chemicals Co., Ltd., a plastic additive producing company located in 500 acres area in Yancheng Binhai Economic Development Zone. FOPIA’s additive product segments include ultraviolet absorbers, polymerization inhibitors, light stabilizers, and antioxidants.
Sinochem International is already a global leader in the production and distribution of rubber additives. With the takeover of FOPIA’s plastic additives production plants and product lines, Sinochem International has made the first step towards strengthening its chain of business of epoxy resins and engineering grade plastics that include acrylonitrile butadiene styrene (ABS), polystyrene, polypropylene, PVC etc. The acquired plastic additives facilities will furnish ample feedstock supplies to Sinochem’s ABS modification plant at Yangzhou which is under construction and to its ABS polymerization plant that is planned to be commissioned at Lianyungang.
ABS falls under the category of engineered thermoplastic that exhibits high thermal stability, electrical insulation property and outstanding mechanical strength making it an indispensable part of a wide range of consumer goods such as, pipes and fittings, automotive parts, electronic housings, construction materials, toys etc.
ChemAnalyst says – “The acquisition of plastic additives will provide a synergistic impetus to Sinochem’s engineering plastic product segments with independent control over raw-material supply chains, production rates, and distribution of ABS. The growing demand for ABS in the end-user industries will drive the global market with Asia as the prime consumption region The stabilization of ABS prices is also foreseen with the improvement of future supply.”