Chemicals News Today

Polyethylene (PE) and polypropylene (PP) demand across Europe weakened sharply in May, with distributors and traders reporting near “blackout” buying conditions after aggressive purchasing during March and April. Converters are now limiting purchases to immediate requirements as lower import offers for July-August cargoes emerge from the US, China, South Korea, and Southeast Asia. Weak downstream consumption, especially in stretch film packaging, has further pressured operating rates and reduced spot prices from recent highs. Market participants indicate that elevated polymer prices triggered demand destruction, while buyers are now avoiding inventory build-up amid expectations of softer import pricing and improved supply availability in the coming months.

China added three chemicals to its narcotics precursor export list for U.S., Mexico, and Canada. It also warned about eight chemicals used in synthetic drugs, urging strict compliance with laws.

Platinum Industries launched Rivadu Lifesciences, a new venture into the life sciences sector, led by Dr. Abhigyan Upadhyay. This strategic move aims for research-driven growth in APIs and intermediates, expanding globally to impact human health.

Jindal Poly Film Limited has announced a price increase for BOPET Film (06-50 Micron) by Rs. 2/Kg. This adjustment will be effective from May 22, 2026.

Asahi Kasei has naphtha supplies until July, prioritizing operations. It forecasts a Y10 billion profit decline from material demand but expects offsets from other sectors. Restructuring includes ceasing styrene monomer/polyethylene production by FY2030.

DPIIT urges industry to indigenize over 200 import-dependent petrochemical items, worth $50 billion annually, amid West Asia crisis hitting supply chains. India faces challenges in local production due to feedstock reliance.

Trump eased HFC refrigerant rules, claiming it lowers grocery costs and saves Americans over $2 billion annually. Critics argue it harms the climate, raises prices due to market uncertainty, and reverses his prior stance, despite some grocers' support.

Yuvraj Singh, IPL Biologicals ambassador, urged Punjab farmers on May 21, 2026, to reduce chemical fertiliser use due to soil degradation. He advocated for biological products to restore farmland health, echoing PM Modi's call.

Bodal Chemicals reported strong Q4 FY26 results: PAT surged 188% to Rs 30.52 crore, revenue grew 29% to Rs 578.96 crore. FY26 revenue crossed Rs 2,000 crore, with PAT up 140%. Growth driven by improved volumes and margins.

India's specialty chemicals sector targets $1 trillion output by 2040, emphasizing self-reliance amid global uncertainty. Government initiatives include 3 chemical parks (₹1000 Cr each) and 18 centers of excellence, aiming for a $250-300 billion market by 2030.