In August 2025, the U.S. formaldehyde market faced bearish pressure due to weak demand from the construction sector and subdued builder confidence. Despite a rise in vehicle sales driven by expiring EV credits and Labor Day promotions, formaldehyde consumption remained low. Ample supply, supported by falling methanol costs, outpaced demand, leading to oversupply. Tariff-related uncertainties further strained manufacturers, raising input costs, and limiting incentives. While September may see continued softness, demand recovery is expected in October, with potential cost-driven bullishness in November due to rising natural gas prices.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
