LOTTE INEOS
Another large-scale VAM plant in South Korea / Ineos focuses on imports for the European market
 Ulsan in South Korea: Plants for VAM and acetic acid (Photo: Lotte Ineos) |
The 49:51 joint venture, Lotte Ineos Chemical (Seoul; www.lotteineos.com), wants to meet the increasing global demand for vinyl acetate (VAM) with a third line at its South Korean site in Ulsan. The additional capacity is said to be 250,000 t/y. With the planned start-up in 2025, total VAM capacity in Ulsan is set to increase to 700,000 t/y.
This consolidates Ineos’ intention to supply the European VAM market with imports in the future. Since moving away from a new plant in Hull, UK (PIE 24.06.2022), the group has initiated a feasibility study for the precursor, acetic acid, and downstream plants up to EVA, in addition to the new plant in South Korea. The joint venture, Lotte Ineos Chemical, in which Ineos holds a majority stake of 51%, was founded in 1989.
VAM is the largest end-use for acetic acid, followed by the pure terephthalic acid (PTA) used in PET and PBT. Together, the two account for the purchase of about two-thirds of the world’s available acetic acid volume.
This consolidates Ineos’ intention to supply the European VAM market with imports in the future. Since moving away from a new plant in Hull, UK (PIE 24.06.2022), the group has initiated a feasibility study for the precursor, acetic acid, and downstream plants up to EVA, in addition to the new plant in South Korea. The joint venture, Lotte Ineos Chemical, in which Ineos holds a majority stake of 51%, was founded in 1989.
VAM is the largest end-use for acetic acid, followed by the pure terephthalic acid (PTA) used in PET and PBT. Together, the two account for the purchase of about two-thirds of the world’s available acetic acid volume.
15.02.2023 Plasteurope.com [252183-0]
Published on 15.02.2023
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