Michelin’s CO2 emissions-reduction targets have been validated by SBTi, a leading independent collaborative organisation in this field.

The success of the COP21 Paris Climate Agreement depends not only on the commitment of member States but also on the involvement of civil society and the private sector in collectively reducing greenhouse gas (GHG) emissions.

That’s why Michelin Group voluntarily submitted its CO2 emissions reduction targets to the SBTi for approval.

Michelin commits to reduce absolute scope 1 and 2 GHG emissions by +38% by 2030 from a 2010 base year. Michelin commits to reduce absolute scope 3 GHG emissions from fuel- and energy-related activities; upstream and downstream transportation and distribution; and end-of-life treatment of sold products by +15% by 2030 from a 2018 base year. Michelin also commits that +70% of its suppliers by emissions covering purchased goods and services will have science-based targets by 2024.

Scope 1 emissions are generated by sources owned or controlled by the Company, while Scope 2 emissions result from the generation of energy that is purchased and consumed by the Company. Scope 3 covers emissions resulting from the company's business but generated by sources not owned or controlled by the Company.

Obtaining approval from SBTi represents a first step toward carbon neutrality by paving the way for net-zero Scope 1 and 2 emissions at all Michelin sites by 2050.

The SBTi method is also an opportunity for Michelin to strengthen its commitment to its suppliers, in order to increase their societal responsibility through targeted action on CO2 emissions reduction in the production of raw materials.

“Gaining SBTi’s approval of our CO2 reduction targets is additional proof of the pertinence of our environmental strategy. Michelin Group has great ambitions, fully in line with its strategy, and a very long-term vision with regard to the fight against global warming. I firmly believe that for all of our business lines, the current crisis is an opportunity to step up our activities, products and initiatives aimed at protecting the environment,” said Florent Menegaux, Michelin Group CEO

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.