MRC -- Formosa Plastics Corp. (FPC), a prominent global petrochemical producer based in Taiwan, is poised to recommence ethylene vinyl acetate (EVA) production on Line 1 at its Mailiao facility, said Chemanalyst.
This strategic move follows a temporary shutdown for maintenance work, with Line 1, boasting an annual production capacity of 190 thousand tons of EVA, scheduled to resume operations on November 15. The maintenance period, initiated on November 8, represents a proactive approach by FPC to ensure optimal performance and reliability.
This planned shutdown aligns with FPC's commitment to regular maintenance cycles to uphold operational efficiency and product quality. The temporary pause in production is a standard industry practice aimed at addressing operational requirements and enhancing the overall reliability of manufacturing processes. With Line 1 set to resume production, FPC is well-positioned to meet the demand for EVA, a versatile ethylene copolymer widely used in various applications.
Earlier this year, on March 27, FPC had successfully resumed operations on Line 2 for EVA production in Mailiao after a brief hiatus for minor maintenance work. Line 2, with a capacity of 80 thousand tons of EVA per year, was temporarily closed from March 22 to facilitate necessary upkeep and ensure the seamless functioning of the production process.
The resumption of EVA production by FPC holds significance not only for the company but also within the broader context of the Asian EVA market. FPC stands as a key player alongside other major EVA producers in Asia, including Taiwan's USI Corp, South Korea's Hanwha Chemical, Honam Petrochemical, and Samsung Total Petrochemicals, as well as Japan's Sumitomo Chemical, Tosoh Corp, DuPont, Mitsui Polychemicals, and China's BASF-YPC, among others.
Analyzing import trends, data for January to August of the current year indicates a notable increase in imports of EVA to the Russian Federation. Import figures for this ethylene copolymer surged by 13.57%, reaching 31.06 thousand tons compared to 27.35 thousand tons in the same period in 2022. This underscores the growing demand for EVA on a global scale, with the material finding applications in diverse industries.
Formosa Plastics Corporation (FPC) stands as a major global chemical manufacturer, headquartered in Taiwan. The company's product portfolio includes polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP), and various other petrochemical products. FPC's strategic presence and commitment to quality have solidified its position as a leading contributor to the global petrochemical industry.
We remind, Formosa Petrochemical Corp has shut its 36,000 barrel-per-day hydrocracker at its Mailiao refinery following a fire last week, reported Reuters with reference to the company spokesman's statement on Tuesday.
The refiner has cancelled gasoil exports and offered a rare cargo of 180-centistoke (cst) fuel oil for February following the accident. The company is currently carrying out investigations into the accident. The unit is expected to come back online by mid-March.