The global basic aromatics market is poised for significant growth, projected to reach US$161.59 billion by 2031, driven by the expanding paints and coatings industry and soaring demand for solvents across various sectors. This comprehensive market analysis reveals key trends, leading players, and future opportunities within this vital chemical sector.
Linde, BASF and SABIC have been awarded the ICIS Innovation Award 2024 for their groundbreaking electric cracker furnace. This innovative technology, the first of its kind to be built at demonstration scale, could significantly reduce CO2 emissions in the chemical industry. The award recognizes the companies’ commitment to sustainability and their leadership in developing cutting-edge solutions for a greener future.
SMC Global, a prominent manufacturer and distributor of chemical products, has recently acquired a half-mile portion of railway from Union Pacific located in Kansas City, Kansas. The move is part of the company’s ongoing investment in its US infrastructure to improve shipping and receiving capabilities. SMC Global aims to partner with local businesses specializing in contract manufacturing, chemical transloading, and packaging.
Chemical company Chemours intends to invest $250 million in building the largest perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS) production facility in the United States. The plant, to be located in Fayetteville, North Carolina, is expected to create 200 jobs and begin operations in 2026.
