Idemitsu Kosan, KUMHO and Sumitomo Corporation sign MOU to create a bio material supply chain

MOSCOW (MRC) -- Idemitsu Kosan Co., Ltd., KUMHO Petrochemical Co., Ltd., and Sumitomo Corporation have signed Memorandum of Understanding (MOU) to establish a long-term collaboration for the development and further growth of the sustainable polymers and chemicals market in Asia, said the company.

In this project, Idemitsu, the largest SM manufacturer in Japan, will produce bio-SM in the mass balance method**, and KUMHO, the largest synthetic rubber manufacturer in South Korea, will produce bio-SSBR (Solution Styrene Butadiene Rubber)*, one of main products for high-functional tires by using bio-SM. Sumitomo Corporation will be coordinating the collaboration and develop bio material market. The companies plan to commence production of biopolymer in 2024.

Bio-SM is from bio-naphtha that is bio-based raw material such as waste and residues. Conventionally, naphtha is extracted from crude oil and has been widely used to produce?basic chemical elements such as ethylene and butadiene. By increasing the use of bio-SM from bio-naphtha, the companies expect to reduce carbon and greenhouse gas (GHG) generation, or carbon footprint, as well as strengthen ESG management cooperation network.

We remind, Idemitsu SM (ISM) and Petrochemicals P(M), Malaysia, subsidiaries of Idemitsu Kosan Co., Ltd., successfully obtains the ISCC PLUS certification, an international certification system for sustainable products, for the production of styrene monomer and polystyrene.

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MOSCOW (MRC) -- Sumitomo Corporation's Metal Product business unit posted profit of Yen 110.4 bn in FY 2022-2023 (year ended 31 Mar 2023), an increase of Yen 55.2 bn compared to Yen 55.2 bn in FY 2021-2022, said the company.

This was due mainly to increasing in earnings accompanied by favourable market conditions for the tubular products business in North America and stable performance by overseas steel service centres.

We remind, Sumitomo Chemical Co, Maruzen Petrochemical Co and Mitsui Chemicals have signed an agreement to jointly study the feasibility of implementing projects at the Keiyo Coastal Industrial Complex in Chiba, Japan.

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MOSCOW (MRC) -- Covestro and Evonik as well as the consulting firm Accenture invited managers from production and technology divisions of Bayer, Clariant, Wacker, Shell, Lanxess and other companies to a two-day Chemicals Peer Exchange for the fourth time, said the company.

"For me, the chemical industry is predestined for the use of AI because we have a lot of complex processes going on that cannot be described by fixed rules," says Walter Gruner, Head of IT & Digitalization at Covestro. "They are not suitable for automation. We rather need learning systems to which we grant a certain degree of decision-making autonomy. In doing so, we focus primarily on the development of systems that work in a complementary manner to humans and support their abilities."

With the introduction of AI in the chemical industry, questions about technical, operational and organizational implementation are also increasingly emerging. This includes, for example, the role of AI in decision-making, but also its implementation along value chains.

We remind, Covestro successfully started up a new world-scale facility for the production of chlorine in Tarragona, Spain. It is the first world-scale production plant for chlorine based upon the highly innovative and energy efficient ODC (oxygen depolarized cathode) technology invented by Covestro and its partners.

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MOSCOW (MRC) -- Evonik has introduced a diverse range of additives under the brand name TEGO® Cycle to help its customers improve process and increase the final quality of recycled plastics, said the company.

Designed to save energy during the mechanical recycling process, the TEGO® Cycle portfolio of additives also enhances the quality of polymers, enabling the transition of the plastics value chain into a ‘value cycle.’

Combating plastic waste has become one of the key factors for securing the planet’s future. Since 1950, around ten billion tons of plastic have been produced worldwide, more than half of it since 2000 alone. Every year, around 400 million tons are added - about 40 percent of which is packaging material. Only a fraction of this is recycled, with the majority ending in landfills and incinerators after only one use - or the waste is discarded into the environment.

“Despite recent improvements in plastic waste streams and better recycling infrastructure across the globe, the high costs and technical challenge of yielding polymers of high enough quality, have meant only around 100 million tons of plastic has been recycled so far,” said Alper Aksit, Marketing Manager Compounds & Circular Plastics Region EMEA. “Transforming plastic waste into valuable reusable plastic requires collaboration across the entire plastics value chain. Working closely with our partners and listening to our customers’ needs we have created initiatives like Evonik’s Circular Plastics Program, which combined with our TEGO® Cycle additives help speed up the plastic industry's transformation into a fully circular economy."

Evonik’s diverse additives portfolio helps at each stage along the entire mechanical recycling value chain to convert plastic waste into reusable plastic goods. During the wet stage, Evonik’s antifoams & wetting agents can be used to make washing, separation, deinking & drying processes more efficient and help to significantly reduce energy. Additionally, during compounding (dry stage) Evonik’s odor absorbers, compatibilizers, dispersants & processing aids help to improve processing and enhance polymer properties, leading to more competitive costs and a much higher quality of recycled plastic content.

We remind, Evonik Industries AG (Essen, Germany) has begun construction of a new production plant for alkoxides in Singapore. The mid double-digit million-euro investment will enhance supply security for customers in the region and further strengthen the company’s global alkoxides business.

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MOSCOW (MRC) -- Dow has earned three 2023 SEAL Business Sustainability Awards (BSA), said the company.

The environmental advocacy organization recognizes specific initiatives, products, services, and innovations ranging from large companies to emerging start-ups for their industry leadership, innovation, and commitment to sustainable business practices.

Three Dow technologies were recognized across two SEAL categories: one Sustainable Product Award, and two Sustainable Innovation Awards. The product-focused category recognized submissions that were deemed innovative, impactful and “purpose-built” for a sustainable future, whereas the innovation-based category selected recipients for representing game-changing ideas that draw us closer to a more sustainable future.

“Each of these simultaneously high-performing and sustainable products and innovations are making significant advancements in their respective markets and helping Dow realize its ambition to be the world’s most innovative, customer-centric, inclusive, and sustainable materials science company,” said A.N. Sreeram, senior vice president, Research & Development, and chief technology officer. “We will continue to innovate alongside our customers and value chain leaders to deliver a sustainable future through our materials science expertise and collaboration."

We remind, Dow reported a net loss of USD73m for the first quarter (Q1) on a slump in volumes and sales prices in key segments and important geographies. Net sales for the largest US chemical company were down 22% at USD11,851m reflecting, Dow said, declines in all its operating segments driven by lower macroeconomic activity.

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