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OQ Chemicals increases carboxylic acid price in US

January 19/2021

MOSCOW (MRC) -- OQ Chemicals (Monheim am Rhein, Germany) is to increase the price of 2-ethylhexanoic acid (2-EHA) in the US, effective 1 February 2021 or as contracts allow, citing supply and demand, reported Chemweek.

The price of 2-EHA will rise by 5 cents per pound, it says.

The company announced price hikes in the Americas last week for neopentyl glycol and oxo intermediates, citing increasing raw material costs and strong demand, also to be implemented on 1 February.

As MRC wrote before, 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 DataScope report, PE imports to Russia decreased in January-November 2020 by 17% year on year and reached 569,900 tonnes. High density polyethylene (HDPE) accounted for the greatest reduction in imports. At the same time, PP imports into Russia increased by 21% year on year to about 202,000 tonnes in the first eleven months of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

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.


mrcplast.com
Author:Margaret Volkova
Tags:North America, South America, PP, PE, crude and gaz condensate, homopolymer PP, propylene, HDPE, ethylene, Duqm Refinery and Petrochemical Industries Company (DRPIC), OQ Chemicals (Oxea), Oman, Russia.
Category:General News
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