Chemical Update 21 - JM Baxi & Co
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Monthly J
Chemical U
L
Update 21
2 J. M. Baxi & Co. Chemical Update | July 2021
July 2021 | J. M. Baxi & Co. Chemical Update 3
Contents
Port Anlaysis
Chemical traffic at Indian Ports (Qty in Metric Tonnes)
Major Chemical traffic at Indian Ports (Qty in Metric Tonnes) July 2021
Major Chemical cargos and their origin countries wise imports to India
(Qty in Metric Tonnes) July 2021
Major Chemical cargos and their destination countries wise exports from India
(Qty in Metric Tonnes) July 2021
MAJOR CHEMICAL IMPORTERS (Qty in Metric Tonnes) July 2021
MAJOR CHEMICAL EXPORTERS (Qty in Metric Tonnes) - July 2021
Market Overview And Trends
Highlights
Disclaimer: The information contained in this market update is drawn from wide range of newspapers, business and trade magazines,
government, company and industry association websites. While all possible care is taken to verify the correctness and authenticity of
information contained in this compilation, no claim to independent authorship of articles is implied or intended. Readers are expected
to make their own independent evaluation and verification of information for their use. While all information contained in this report
are believed to be correct, the editors of this compilation or J. M. Baxi & Co. do not guarantee the quotes or other data and the same
is provided only in good faith.
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4 J. M. Baxi & Co. Chemical Update | July 2021 CHEMICAL TRAFFIC AT INDIAN PORTS
July 2021 | J. M. Baxi & Co. Chemical Update 5
6 J. M. Baxi & Co. Chemical Update | July 2021
Chemical traffic at Indian Ports (Qty in Metric Tonnes)
Port Name Apr - May 21 Apr - May 20 Variance Y - O - Y
BUDGE BUDGE 18008 6888 11120
CHENNAI 55454 22885 32569
COCHIN 24000 15315 8685
DAHEJ 337980 208500 129480
ENNORE 18199 8857 9342
HALDIA 203308 65858 137450
HAZIRA 2184099 264932 1919167
JNPT 139991 85082 54908
KAKINADA 3709 2832 877
KANDLA 543168 268989 274178
KOLKATA 3114 0 3114
MAGDALLA 26000 25000 1000
MANGALORE 125530 32655 92874
MUMBAI 481591 267304 214287
MUNDRA 80557 88598 -8041
PIPAVAV 47660 67254 -19593
RANPAR 25000 5500 19500
SIKKA 1272774 1390747 -117973
TUTICORIN 19000 19400 -400
VADINAR ESSAR 24954 0 24954
VISAKHAPATNAM 184288 176140 8148
Grand Total 5818382 3022737 2795645
www.jmbaxi.com
July 2021 | J. M. Baxi & Co. Chemical Update 7
Major Chemical traffic at Indian Ports
(Qty in Metric Tonnes) June 2021
Port cargo June -2021
BUDGE BUDGE BASE OIL 1637
BASE OIL EHC 110 2040
BASE OIL EHC 50 703
EXXSOL D80 1000
TOLUENE 1152
CHENNAI BASE OIL 9959
LIQUID PARAFFINE 2949
ORTHOXYLENE 9987
COCHIN METHANOL 9350
DAHEJ CAUSTIC SODA 10000
MONO ETHYLENE GLYCOL 59200
PARAXYLENE 127600
ENNORE CARADOL SC 1264
ISO PROPYL ALCOHOL 1901
METHYL METHACRYLATE 998
STYRENE MONOMER 4206
HALDIA BENZENE 5735
LINEAR ALKALENE BENZENE 20403
LUBE OIL 12030
MTBE (METHYL TERTIARY BUTYL ETHER) 4485
PARAXYLENE 53201
HAZIRA BASE OIL 21871
BUTYL ACETATE 15078
CAUSTIC SODA LYE 19000
HEAVY NORMAL PARAFFIN 11968
METHANOL 18179
JNPT AROMATIC FEEDSTOCK 10000
BASE OIL 12046
CAUSTIC SODA 6000
METHYL METHACRYLATE 4500
STYRENE MONOMER 8238
www.jmbaxi.com8 J. M. Baxi & Co. Chemical Update | July 2021
KANDLA BASE OIL 15139
CAUSTIC SODA 24000
J 150 (CHEMICAL) 139085
PHENOL 4255
SOLVENT C 9 12917
KARWAR CAUSTIC SODA LYE 7000
KOLKATA LUBE OIL 4430
MANGALORE BENZENE 15467
BUTYL ACRYLATE 2582
METHANOL 1949
PARAXYLENE 51072
MUMBAI BASE OIL 80679
ETHANOL 17894
J 150 (CHEMICAL) 32300
METHANOL 39003
STYRENE MONOMER 34755
MUNDRA BASE OIL 9275
DENATURED ETHYL ALCOHOL 38262
METHANOL 9820
MTBE (METHYL TERTIARY BUTYL ETHER) 10000
PARAFFIN 6566
PIPAVAV ALPHA OLEFINS C14 2555
BASE OIL 3178
ETHYL ALCOHOL 13500
UNDECYL ALCOHOL 756
SIKKA ALKYLATE 58839
BENZENE 80001
MONO ETHYLENE GLYCOL 88126
ORTHOXYLENE 27169
PARAXYLENE 362042
TUTICORIN CAUSTIC SODA LYE 4093
VISAKHAPATNAM CAUSTIC SODA 39500
J 150 (CHEMICAL) 5200
J-150 (CHEMICAL) 2000
METHANOL 1050
Grand Total 1711141
www.jmbaxi.comJuly 2021 | J. M. Baxi & Co. Chemical Update 9
Major Chemical cargos and their origin countries wise imports to India
(Qty in Metric Tonnes) June 2021
Country Cargo June - 21
ALGERIA LINEAR ALKALENE BENZENE 4197
BAHRAIN METHANOL 3000
BELGIUM ETHYLENE DI AMINE 798
CHINA ACRYLONITRILE 2496
BUTYL ACETATE 2153
METHYLENE CHLORIDE 1914
N PROPANOL 996
PHENOL 2280
HONG KONG BASE OIL 1491
INDONESIA J 150 (CHEMICAL) 5200
KUWAIT HEAVY AROMATIC 3051
STYRENE MONOMER 1958
MALAYSIA BUTYL ACRYLATE 2582
NETHERLANDS BUTYL ACRYLATE 1327
METHYLENE CHLORIDE 950
OMAN LIQUID PARAFFINE 6399
PARAFFIN 6566
PARAXYLENE 9985
QATAR ALPHA PLUS C 20 1000
BASE OIL 3675
LINEAR ALKALENE BENZENE 1898
METHANOL 17081
SAUDI ARABIA LINEAR ALKALENE BENZENE 20403
METHANOL 17773
PARAXYLENE 35285
SINGAPORE BASE OIL 5254
CAUSTIC SODA 16000
DENATURED ETHYL ALCOHOL 20412
METHYL METHACRYLATE 5498
STYRENE MONOMER 8801
www.jmbaxi.com10 J. M. Baxi & Co. Chemical Update | July 2021
SOUTH KOREA BASE OIL 12891
MIXED XYLENE 1971
SHELL 150 DAESAN 2196
SOLVENT C 9 12135
TOLUENE 2012
TAIWAN BASE OIL 5000
ISO PROPYL ALCOHOL 2096
LIQUID PARAFFINE 2949
MIXED ARAOMATICS 2810
SOLVENT C 9 782
THAILAND ACETONE 950
MEK (METHYL ETHYL KETONE) 995
MIXED XYLENE 1000
PHENOL 1975
TOLUENE 800
U.A.E. BASE OIL 9275
J-150 (CHEMICAL) 2000
TOLUENE 1912
UNITED STATES ALPHA OLEFINS C14 3683
DENATURED ETHYL ALCOHOL 17850
ETHYL ALCOHOL 13500
METHANOL 4350
UNDECYL ALCOHOL 756
www.jmbaxi.comJuly 2021 | J. M. Baxi & Co. Chemical Update 11
Major Chemical cargos and their destination countries wise exports from India
(Qty in Metric Tonnes) - June 2021
Country Cargo June - 21
BELGIUM ORTHOXYLENE 6830
CHINA BENZENE 5047
DIETHYLENE GLYCOL 2500
MONO ETHYLENE GLYCOL 10439
ORTHOXYLENE 4138
PARAXYLENE 85612
INDONESIA PARAXYLENE 27838
MALAYSIA MTBE (METHYL TERTIARY BUTYL ETHER) 4485
PARAXYLENE 15030
NETHERLANDS PARAXYLENE 7750
PORTUGAL PARAXYLENE 15638
QATAR BENZENE 9201
SAUDI ARABIA BENZENE 66481
SINGAPORE MTBE (METHYL TERTIARY BUTYL ETHER) 10000
SPAIN BENZENE 11072
TAIWAN ORTHOXYLENE 6213
THAILAND PARAXYLENE 8024
U.A.E. BASE OIL 5000
UNITED STATES ALKYLATE 58839
BENZENE 9403
BUTYL ACRYLATE 4110
PARA DICHLORO BENZENE 1800
PARAXYLENE 2437512 J. M. Baxi & Co. Chemical Update | July 2021
MAJOR CHEMICAL IMPORTERS
(Qty in Metric Tonnes) - June 2021
June
Importer Cargo
2021
AARTI INDUSTRIES LTD. PARA DICHLORO BENZENE 1800
BASF CORPN. ORTHOXYLENE 6830
GLENCORE INTL. LTD. ALKYLATE 58839
HAINAN YISHING PETROCHEM CO. PARAXYLENE 19954
ICC CHEMICALS CORPN. BUTYL ACRYLATE 4110
INDORAMA CHEMICALS CO. PARAXYLENE 15638
ING BELGIUM, BRUSSELS MTBE (METHYL TERTIARY BU- 4485
TYL ETHER)
KOLMAR GROUP AG BENZENE 5735
MITSUBISHI CHEMICAL CORPN. PTA PARAXYLENE 10030
MITSUBISHI CORPN. PVT. LTD. DIETHYLENE GLYCOL 2500
MONO ETHYLENE GLYCOL 10439
PARAXYLENE 8024
MITSUI AND CO. LTD. ORTHOXYLENE 3119
PARAXYLENE 71769
MITSUI OIL (ASIA) PTE LTD. ORTHOXYLENE 3095
PTT INTL. TRADING PTE LTD. BENZENE 24871
PARAXYLENE 15234
RECRON MALAYSIA SDN BHD PARAXYLENE 15030
REPSOL TRADING SA BENZENE 11072
SABIC INTL. CO. LTD. BENZENE 18191
SAUDI ARABIAN OIL CO. BENZENE 18152
SAUDI BASIC INDUS. CORPN. (SABIC) BENZENE 18137
TAIZHOU UNION CHEMICAL INDUS- ORTHOXYLENE 4138
TRIES CO. LTD.
TO ORDER BUYERS MTBE (METHYL TERTIARY BU- 5000
TYL ETHER)
TO ORDER MERAK MTBE (METHYL TERTIARY BU- 5000
TYL ETHER)
TOTAL TRADING ASIA PTE LTD. PARAXYLENE 20837
TOTAL TRADING CO. PARAXYLENE 7750
WANHUA CHEMICALS CO. BENZENE 5047
VEDANTA LTD. SEZ UNIT CAUSTIC SODA 30046
www.jmbaxi.comJuly 2021 | J. M. Baxi & Co. Chemical Update 13
MAJOR CHEMICAL EXPORTERS
(Qty in Metric Tonnes) - June 2021
June -
Exporter Cargo
2021
AARTI INDUSTRIES LTD. PARA DICHLORO BEN- 1800
ZENE
HALDIA PETROCHEMICALS LTD. BENZENE 5735
MTBE (METHYL TERTIARY 4485
BUTYL ETHER)
ONGC MANGALORE PETROCHEMICALS LTD. BENZENE 15467
PARAXYLENE 51072
RELIANCE INDUS. LTD. ALKYLATE 58839
BENZENE 80001
MONO ETHYLENE GLYCOL 10439
ORTHOXYLENE 17182
PARAXYLENE 148195
SANJAY CHEMICAL INDUS. PVT. LTD. BUTYL ACRYLATE 4110
www.jmbaxi.comMARKET OVERVIEW
TRENDS&
1416 J. M. Baxi & Co. Chemical Update | July 2021
HIGHLIGHTS
01
Insecticides (India) to cut down
dependence on China
02
Agro-chemical industry in for a ‘positive
growth’ in Q1
03
Royal Vopak, Aegis Logistics form new
JV for LPG and chemical storage in
India
www.jmbaxi.comJuly 2021 | J. M. Baxi & Co. Chemical Update 17
04
Heranba Industries gets environmental
clearance for Rs 110 crore expansion plan
05
India’s Haldia Petrochemicals plans to
shut naphtha cracker for a month
06
GAIL eyes expansion in petrochemicals,
speciality chemicals & renewables
07
IOC Board accords Stage-I approval for
setting up the first-ever styrene project in
India
www.jmbaxi.com18 J. M. Baxi & Co. Chemical Update | July 2021
Insecticides (India) to cut down dependence
on China
01 In a bid to significantly reduce subsequent lockdowns have
its dependence on China for raw impacted the company’s operations,
material, Insecticides (India) Limited he said the firm had to work with 70
has decided to produce the key per cent of the 1,300 employees for
To produce intermediates in India. “At present about 18 months due to restrictions
intermediates we are importing about 30-35 per on people’s movements and health
locally; WFH drives cent of the raw material from China. concerns. With the pandemic-induced
kharif marketing, We are planning to produce it locally. lockdowns impacting the movement
When we set up our plant for the of people and vehicles, the company
outreach
intermediates by the end of this has shifted some of its pre-kharif
calendar year, we would be able to marketing activities to online. About
reduce their imports by 7-8 per cent,” 50-60 per cent of the marketing
Rajesh Aggarwal, Managing Director activities, meetings with distributors,
of IIL, told BusinessLine. One of staff and farmers have been moved
the two intermediates, Lambda to virtual mode. “Over the last 45
cyhalothrin, is an insecticide used in days, we conducted 40 training
multiple crops in different formulation programmes for crop advisors,
grades. It is used to control a wide development and sales teams. We
spectrum of Lepidopteran and other have conducted over 150 meetings,
pests. “Thiamethoxam, the second reaching out to 15,000 farmers in
intermediate, is used to control a wide various parts of the country,” Rajesh
spectrum of sucking pests. We plan to Aggarwal said. Besides, over 35
manufacture both the intermediates meetings were held virtually to
in India by the end of this calendar interact with our dealers, distributors
year,” he said. He, however, declined and channel partners, he said. The
to indicate the quantum or value of firm, which announced a ₹100 crore
the intermediates that are being expansion plan three years ago, will
imported from China. The company be completing the roll-out this year.
reported a total revenue of ₹257.7 “We have completed 70 per cent of
crore in the fourth quarter ended the expansion plan completed so
March 31, 2021, as against ₹237.8 far. We will complete the remaining
crore in the same quarter previous works by Diwali this year,” he said.
year, showing a growth of 8.4 per Post expansion, it would have an
cent. It clocked a net profit of ₹22 annual capacity of 15,000 tonnes, up
crore in the quarter as against a from the present capacity of 10,000
loss of ₹7.3 crore in the comparable tonnes.
quarter previous year. For the full
year, it reported a net profit of ₹93.4 Outlook
crore (₹86 crore) on a total income of He said the outlook for the current
₹1,428 crore (₹1,365.8 crore). kharif looked bright with the Covid-19
cases coming down and monsoons
WFH drives kharif marketing progressing well. “We are expecting
Stating that the pandemic and a double-digit growth in the current
www.jmbaxi.comJuly 2021 | J. M. Baxi & Co. Chemical Update 19
financial year,” he said. “We will a CAGR (compound annual growth
see the benefits of the augmented rate) of 15 per cent 2-3 three years
capacity in 2022-23. It will help us from 2022-23,” he said.
Source: The Hindu business Line
Agro-chemical industry in for a ‘positive
growth’ in Q1
02 A strong demand for agro-chemical Goswami, Director-General of Agro
“
products in the domestic and Chem Federation of India (ACFI), has
international markets are among felt that the first quarter could be an
the top reasons for industry experts ‘average quarter’ for the industry. “Due
Higher demand to forecast a positive growth in the to earlier advance sales and delayed
first quarter. “A strong demand in the monsoon, sales and consumption
in domestic,
export segment and higher global are yet to pick up. We are expecting
international
commodity prices would drive the rains to pick up in the second week
markets to drive
revenue growth in the quarter,” Varshit of July, triggering demand in the
sales Shah, an analyst with research firm second quarter,” he said. “We are
The ₹48,000-crore Emkay Globa, has said. Giving a sure that the on-going kharif season
agro input review of the firms under its coverage, will see a positive growth in sales and
industry is he pointed out that all agro-chemical consumption of agri inputs,” he said.
likely to post a companies have passed on the
‘positive’ growth impact of higher raw material prices Challenges
in revenues in the to the consumers in the quarter. “We The Emkay Global report, however,
first quarter of the expect agrochemical companies in flagged a few important issues that
year.
“
current financial our coverage to deliver 10.8 per cent
year-on-year growth,” he said.
are needed to be watched closely.
“Freight costs continued an upward
trend due to container shortages
Positive growth and backlog of clearance due to the
Insecticides (India) Limited Managing Suez Canal blockage,” it said. “The
Director Rajesh Aggarwal, however, key things to watch out for in the first
has said that it would be difficult quarter earnings are stabilisation
for the industry to achieve a double of the freight costs, cooling off in
digit growth in the quarter. “It is very key intermediates and other raw
difficult for the industry to achieve materials, and possible price hikes to
that but what I can say is that it will compensate for rising packaging and
be a positive first quarter. There freight costs,” it pointed out.
is a good demand in the domestic
and international markets for agro-
chemical products,” he said. Kalyan
Source: The Hindu business Line
www.jmbaxi.com20 J. M. Baxi & Co. Chemical Update | July 2021
Royal Vopak, Aegis Logistics form new JV for
LPG and chemical storage in India
03 Mumbai-listed oil, gas and chemical a minimum €18 million and up to a
“
logistics company Aegis Logistics maximum of €40 million payable
Ltd and Dutch tank storage firm to Aegis via a financial instrument,
Royal Vopak announced that the Vopak said in a statement.
two companies have joined forces in
The joint venture
India with the aim to grow together in Growth opportunities
will operate a the LPG and chemicals storage and The new JV, Aegis Vopak Terminals,
network of eight handling business. The transaction will operate a network of eight
ports
“
terminals located
in five strategic
entails two separate legal entities that
Vopak will simultaneously buy into on
the basis of joint control. Vopak will
terminals that are located in five
strategic ports along the east and
west coast of India. With a total
acquire a 49 per cent shareholding capacity of around 960 thousand
in the new joint venture Aegis Vopak cubic metres, the partnership
Terminals Ltd. Vopak’s existing CRL will become one of the largest
terminal entity in Kandla will become independent tank storage companies
a wholly-owned subsidiary of Aegis for LPG and chemicals in India, Vopak
Vopak Terminals. CRL is currently said. The JV will target mainly LPG,
a 100 per cent unit of Vopak. Upon chemicals and industrial terminal
closure of the transaction, this will opportunities. This investment is
change to joint control as CRL will be another step for Vopak towards its
part of Aegis Vopak Terminals. strategy to allocate capital to grow
in gas markets. “This joint venture
Factory safety framework set for a with Vopak will accelerate the growth
major overhaul of Aegis in the terminals business
Aegis’ network of terminal assets and has the potential to allow Aegis
at five different locations in Kandla, to diversify into new areas of gas
Pipavav, Mangalore, Kochi and Haldia storage such as LNG and other energy
covering the west and east coast of projects, including renewables, in
India will be added to the joint venture partnership with the world’s leading
asset base. Vopak will also acquire a independent tank storage company,”
24 per cent shareholding in Hindustan said Raj Chandaria, Chairman of Aegis
Aegis LPG Ltd, currently a joint Logistics. “This is an investment
venture between Aegis and Itochu. in a growth market and by joining
After the transaction, Aegis will own forces with Aegis we aim to deliver
51 per cent and Itochu will continue growth over the next ten years in
to hold 25 per cent. The enterprise line with the new joint ventures and
value for Vopak’s shareholding in the India’s ambition for LPG,” said Eelco
joint ventures will be €185 million Hoekstra, Chairman of the Executive
plus €15 million, depending on the Board and CEO of Royal Vopak. The
fulfilment of certain conditions transaction is expected to close early
precedent. Vopak’s net consideration 2022, subject to customary closing
amounts to €100 million plus €15 conditions.
million depending on the fulfilment
of certain conditions. In addition to
the net consideration, Vopak and
Aegis have agreed on payment of
Source: The Hindu business Line
www.jmbaxi.comJuly 2021 | J. M. Baxi & Co. Chemical Update 21
Heranba Industries gets environmental
clearance for Rs 110 crore expansion plan
04
Agrochemicals rm Heranba Industries This expansion plan will entail setting
said it has received environmental up an additional manufacturing
clearance from the government to set capacity of 24,900 TPA (tonnes per
up additional manufacturing capacity annum) for the manufacturing of
The company said it at an estimated cost of Rs 110 crore insecticides, fungicides, herbicides
at its facility in Gujarat. The company and pesticides intermediates. “The
has an existing land
has received environmental clearance estimated cost for this expansion
parcel measuring from the Ministry of Environment, is Rs 110 crore, which includes an
55,000 sq mt at Forest and Climate Change for existing investment of Rs 20 crore,” the
Sarigam and no expansion of pesticide intermediates, company said. R K Shetty, Managing
additional land fungicides, herbicides, insecticides Director, Heranba, said this approval
will be required manufacturing in Gujarat, Industries for expanding the Sarigam plant
for the proposed said in a regulatory ling. The company is a crucial development towards
said it has an existing land parcel the company’s aim of expanding
expansion.
measuring 55,000 sq mt at its multipurpose manufacturing
Sarigam and no additional land will be capacity and enables it to achieve its
required for the proposed expansion. growth objectives while continuing to
build on its solid foundation.
Source: Economic Times
India’s Haldia Petrochemicals plans to shut
naphtha cracker for a month
05 India’s Haldia Petrochemicals plans company said in a statement The
“
to shut its naphtha cracker in eastern cracker has annual capacity of
West Bengal state for about a month 700,000 tonnes, it said.
from Aug. 1 for maintenance, the
The cracker has
annual capacity
of 700,000
“
tonnes, the
company said in
a statement.
Source: Economic Times
www.jmbaxi.com22 J. M. Baxi & Co. Chemical Update | July 2021
GAIL eyes expansion in petrochemicals,
speciality chemicals & renewables
06 GAIL India Ltd is eyeing expansion in the annual report for 2019-20, GAIL
“
petrochemicals, specialty chemicals said it has undertaken ‘Strategy 2030’
and renewables to supplement exercise to define its journey through
growth in its core business of natural the next decade. “The strategy has
gas marketing and transportation, its been developed with the objective of
The nation’s
chairman Mr. Manoj Jain has said. building a strong business portfolio
largest gas The nation’s largest gas marketer and organisation structure, which is
marketer and and shipper has adopted a revised not only robust enough to respond
shipper has strategic plan identifying priority to the fast-changing business
adopted a business initiatives. “This strategic scenario, but also unlocks growth
revised strategic plan will help us to address our opportunities for the long-term
challenges in changing industry growth of the company,” it said. It
plan identifying
scenarios and provide new areas for will also explore “opportunities in the
priority business
growth with geographic expansion,” petrochemicals segment to leverage
initiatives. “This he said in the company’s latest annual upon GAIL’s extensive presence and
strategic plan report. GAIL transports over 70% of high future demand of polyethylene
will help us to all gas shipped in the country through and polypropylene,” the report said,
address our its network of 12,426-km network of adding the firm was also assessing
challenges natural gas trunk pipelines. It sells opportunities for certain specialty
55% of all natural gas in the country chemicals in India. GAIL said it “will
in changing
and has petrochemical plants at be selectively making investments in
industry scenarios
Pata and Lepatkata. It has a small the renewable energy domain given
and provide new portfolio of wind and solar power the future growth potential. The
areas for growth
“
with geographic
expansion,”
generation capacity. “While gas will
remain our core segment, we will
look for growth in other areas such as
company is exploring the opportunity
of acquiring stakes in renewable
energy assets of existing players and
petrochemicals, specialty chemicals, also looking towards participating
renewables, water, etc. to reach new in the solar park tenders as a solar
heights in coming years,” he said. In power producer.”
Source: Chemical WeeklyJuly 2021 | J. M. Baxi & Co. Chemical Update 23
IOC Board accords Stage-I approval for setting
up the first-ever styrene project in India
07
Earlier in February 2021, the IOC styrene-butadiene rubber (SBR)
Board approved the Panipat Refinery paints & coatings, unsaturated
Expansion Project to enhance its polyester resins, etc. Presently India’s
capacity from the existing 15-mtpa styrene consumption is around 900-
The Board of to 25-mtpa with a capex of Rs. ktpa and the demand is expected to
32,946-crore. As part of the Expansion increase consistently over the next
Directors of Indian
Project, a new high severity Fluidized 15-20 years. However, there is no
Oil Corporation Catalytic Cracking Unit (FCCU) domestic styrene capacity, and the
(IOC) has accorded of 2.5-mtpa capacity, based on entire demand is met through imports
Stage 1 approval IOC’s flagship INDMAX technology, from Singapore, Middle East and
for implementation would be set up to maximize LPG Southeast Asia, causing significant
of India’s first- production and manufacture basic inconvenience to the domestic
ever styrene petrochemical building blocks styrene downstream industry. The
(propylene and ethylene). There is a proposed styrene project will address
monomer project
propylene potential of around 514- this issue to a great extent and
with a capacity ktpa in the project, which would reduce nation’s import dependence
of 387-ktpa at an be utilised for the production of substantially. Thus, considerable
estimated cost of Rs polypropylene (PP) through a new forex savings of about Rs. 3,650-crore
4,495-crore, at IOC’s PP unit. The styrene project aims to (US$500-mn) per annum is likely
Panipat Refinery utilize the ethylene potential from the to be generated. The project would
& Petrochemical INDMAX Unit alongside the Benzene be commissioned by 2026-27.
that is already being produced at the Availability of styrene domestically
Complex.
Panipat Complex. Styrene is used is expected to accelerate the growth
to produce polystyrene, acrylonitrile of downstream industry and create
butadiene styrene (ABS) resin, employment opportunities.
Source: Chemical WeeklyOther Reports for July 2021
J. M. Baxi & Co. Monthly Agri Products Update
J. M. Baxi & Co. Monthly Automotive Logistics Update
J. M. Baxi & Co. Monthly Cement Update
J. M. Baxi & Co. Monthly Chemical Update
J. M. Baxi & Co. Monthly Coal Update
J. M. Baxi & Co. Monthly Container Update
J. M. Baxi & Co. Monthly Cruise Shipping Update
J. M. Baxi & Co. Monthly Edible oil and Extractions Update
J. M. Baxi & Co. Monthly LNG & LPG Update
J. M. Baxi & Co. Monthly Fertilizer Update
J. M. Baxi & Co. Monthly Mineral and Metal Update
J. M. Baxi & Co. Monthly Oil and Petroleum Update
J. M. Baxi & Co. Monthly Port Update
J. M. Baxi & Co. Monthly Project Cargo Update
J. M. Baxi & Co. Monthly Seafarers Insights Update
J. M. Baxi & Co. Monthly Steel Update
www.jmbaxi.comResearch Cell
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