MOSCOW (MRC) -- OQ Chemicals (Monheim am Rhein, Germany) says it will increase prices for several of its oxo intermediates products in the Americas, Europe, and “other regions” as of 1 January 2021 due to strong demand and rising raw material costs, reported Chemweek.
In Europe the price of 2-ethylhexanol (2-EH) will increase by EUR150/metric ton (USD182/metric ton), while n-butanol and isobutanol will rise by EUR120/metric ton. Prices for n-butyl acetate and isobutyl acetate will be hiked to EUR100/metric ton, while n-propanol and n-propyl acetate will both rise by EUR60/metric ton. Neopentyl glycol (NPG) and trimethylol propane (TMP) will increase by EUR200/metric ton.
In the Americas the price of 2-EH will rise by USD0.07/lb in North America and Mexico, and by USD180/metric ton in South America. Prices for n-butanol and isobutanol will increase by USD0.06/lb and USD130/metric ton in each region, respectively, while n-butyl acetate and isobutyl acetate will increase by USD0.05/lb and USD110/metric ton, and n-propanol and n-propyl acetate by USD0.03/lb and USD70/metric ton in each region, respectively. NPG and TMP prices will rise by USD0.10/lb and USD220/metric ton in each region, respectively.
In the unspecified ‘other regions’, prices per ton will rise for 2-EH by USD180, n-butanol and isobutanol by USD150, n-butyl acetate and isobutyl acetate by USD120, n-propanol and n-propyl acetate by USD70, and NPG and TMP by USD220.
OQ announced in early and mid-November increases in prices as of 1 December for 2-EH, NPG, and several of its other oxo intermediate products.
As MRC wrote earlier, in September 2020, OQ Chemicals entered into an agreement to license its advanced proprietary technology for the production of ethylene and propylene derivatives to Duqm Refinery and Petrochemicals Industries Company (DRPIC) in Oman. DRPIC, a joint venture between Oman Oil Company and Kuwait International Oil Company, is a planned grassroots petrochemical complex at Duqm, Oman. In all, DRPIC awarded twelve license packages to international licensors.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,760,950 tonnes in the first ten months of 2020, up by 3% year on year. Only high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased. At the same time, PP shipments to the Russian market reached 978,870 tonnes in January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer increased.
OQ Chemicals, formerly Oxea, is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavours and fragrances, printing inks and plastics. OQ Chemicals is part of OQ, an integrated energy company that delivers sustainability and business excellence. OQ operates in 16 countries and covers the entire value chain from exploration and production to the marketing and distribution of its products.