Hankook Tire & Technology (Hankook Tire) has announced that it has commenced mass production of its tyres utilising three types of ISCC (International Sustainability & Carbon Certification) PLUS certified carbon black.

The carbon black, derived from end-of-life tyre pyrolysis oil, was developed through the Tire-to-Tire Circular Economy Model consortium. This marks the company’s first achievement following the launch of the Tire-to-Tire Circular Economy Model consortium in November 2023. The consortium, a project launched by Hankook Tire, focusses on continuous collaboration along with research and development to create sustainable materials suitable for mass production.

The project aims to create a circular economy model for producing new tyres from end-of-life tyres in South Korea. Together with 12 other Korean companies and institutions, Hankook Tire is working to meet global market demand for carbon neutrality and the use of sustainable materials.

The tyre major states it has achieved this outcome through collaborative research with consortium partners HD Hyundai Oilbank and HD Hyundai OCI. HD Hyundai Oilbank and HD Hyundai OCI developed the three types of certified carbon black by applying refined oil obtained from the pyrolysis process of end-of-life tyres using a mass balance approach and received ISCC PLUS certification, a voluntary international certification system for sustainable materials and product circularity.

With this Hankook Tire says it is now ready to apply these materials for mass production. This collaboration contributes not only to the transition of the tyre industry toward a circular economy by replacing existing petrochemical-based raw materials with circular materials, but also helps reduce reliance on petroleum resources, conserving natural resources and lowering carbon emissions.

Starting this year, Hankook Tire will apply certified carbon black to its products, leveraging the material to meet global sustainability requirements. Additionally, it will continue to work closely with consortium partners to develop carbon black made with 100 percent pyrolysis oil, aiming for 100 percent use of sustainable materials by 2050 and thereby accelerating the development of circular materials through the consortium.

Meanwhile, Hankook Tire continues its unwavering efforts to enhance sustainability within the global tire industry. In 2021, its Geumsan plant in Korea became the first in the tyre industry to obtain ISCC PLUS certification. This was followed by its plant in Hungary, which received the same certification in 2023, establishing a foundation for incorporating sustainable materials into mass production.

Additionally, in August 2023, Hankook Tire became the first company in the Korean tyre industry to have its mid to long-term greenhouse gas reduction goals for achieving ‘Net Zero by 2050’ approved by the Science Based Targets initiative (SBTi).

This demonstrates the company’s commitment to implementing tangible measures that aim to reduce carbon emissions. In 2024, Hankook Tire was awarded the Three-Star Environmental Accreditation by the Federation Internationale de I’Automobile (FIA), the highest level of sustainability certification awarded by the organisation.

Nouryon, a leading supplier of organic peroxides and a developer of organic peroxide solutions, has formally announced the completion of capacity expansion of its organic peroxides manufacturing facility in Ningbo, China.

The company's production capacity for Perkadox 14 and Trigonox 101 organic peroxide products, which are crucial components for altering polymer characteristics and crosslinking rubbers and thermoplastics, has increased to 6,000 tonnes each as a result of this capacity expansion. Furthermore, by improving the qualities of recycled polypropylene (R-PP), these solutions can also allow consumers to employ recycled polymers in applications that were previously exclusive to virgin plastics.

Alain Rynwalt, Senior Vice President – Performance Materials, Nouryon, said, “Nouryon is a world leader in essential ingredients for the polymer industry and this expansion highlights our dedication to supporting our customers’ growth across the entire polymer cycle. Customer interest in improving the properties of recycled polypropylene continues to rise, in line with increased consumer awareness and more stringent regulations.”

Sobers Sethi, Senior Vice President – Emerging Markets and China, Nouryon, said, “Asia Pacific is a key region for Nouryon and our most recent expansion in China strengthens our supply position even more in this growing region. Our customers rely on our existing network of manufacturing facilities and innovative technologies, and we are pleased to build more capacity to meet growing customer demand around the world.”

Trinseo, a speciality materials solutions provider, has signed agreements to supply its polycarbonate technology license as well as all proprietary polycarbonate production equipment in Stade, Germany to Deepak Chem Tech Ltd, a wholly owned subsidiary of Deepak Nitrite Limited, a diversified chemical intermediates company based in Vadodara, Gujarat, India.

The combined deals are worth USD 52.5 million. Subject to significant milestones, the business anticipates receiving around USD 9 million by the end of 2024 and an additional USD 21 million in the first part of 2025. The firm has made the decision to leave Stade, Germany, with this disposal of the production assets.

Frank Bozich, President and Chief Executive Officer, Trinseo, said, “While Trinseo recently announced its decision to exit virgin polycarbonate production, our polycarbonate technology is highly valued and the manufacturing equipment in Stade, Germany, can be utilised in India by Deepak. These are the initial steps of a strategic, collaborative partnership with Deepak, as we explore additional opportunities to leverage our technology portfolio and expand in higher-growth areas such as India.”

China's butadiene exports have experienced significant growth in recent years, particularly in 2021 and 2024. According to Sublime China Information (SCI), this surge is primarily driven by supply constraints in key regions, including the US and Southeast Asia.

Export Volume and Price Trends

In 2021, China's butadiene exports reached a historic high due to a supply gap in the US market. According to SCI, this trend continued in 2024 as reduced deep-sea cargo shipments and production challenges in Southeast Asia further tightened global supplies. From January to September 2024, China's total butadiene exports surged by 111 percent year-over-year to approximately 120.8 kilo tonnes.

The average export price of butadiene has fluctuated over the past five years. In 2023, weak demand in South Korea and competition from deep-sea cargoes led to a significant decline in export prices. However, in 2024, supply shortages from key regions drove prices to a five-year high. As of September 2024, the average export price reached USD 1,391 per metric ton, a 35 percent month-over-month increase, added SCI.

Export Destinations and Regional Dynamics

The majority of China's butadiene exports are directed to South Korea and Taiwan. In 2024, South Korea accounted for 74 percent of total exports, a significant increase from the previous year. This surge was driven by factors such as limited domestic supply and increased demand for spot butadiene.

While China's butadiene exports have been strong, the long-term potential for significant growth in deep-sea exports remains limited due to established supply chains and regional demand dynamics. Most of China's exports are currently concentrated in Northeast Asia, with limited opportunities for expansion into other regions.

Future Outlook

SCI added that 2025 China's butadiene supply is expected to be relatively sufficient, and export volumes may increase further. However, the sustained growth of exports will depend on various factors, including downstream demand in key markets, the availability of deep-sea cargoes, and the development of new production capacities in other regions.

Despite these uncertainties, China's butadiene industry is well-positioned to capitalize on global supply-demand imbalances and continue to play a significant role in the global market.

Cabot Corporation, a global speciality chemicals and performance materials company, has announced through an official statement that it will raise prices globally for carbon black products sold by its speciality carbons business. The price rise will be global and will come into effect for all shipments on or after 1 December 2024, or as contracts allow.

The company claims that the price rise is necessary owing to the impact of inflation on labour, maintenance and other production activities, as well as supply chain-related expenditures. The price increase will vary depending on the product and region.

The statement further elaborates that these price adjustments will help the company remain a dependable, long-term provider of high-quality products and services to its consumers. Cabot also underlined its commitment to guaranteeing supply security and the best service standards for its clients, as well as providing technological and process improvements and moving forward with its environmental goals.