INEOS Styrolution to Build New ABS Production Plant

Global styrenics supplier INEOS Styrolution plans to start work this year on a new ABS production facility in Ningbo, China next to a polystyrene plant it recently purchased, the firm announced in a press release Thursday. 

The site, located in the Zhejiang Province in the eastern portion of the country, will have an annual capacity of 600,000 tn. Work on the site is slated to begin this year and reach completion in 2023.

“China is the biggest ABS market in the world. This new investment will give us a tremendous opportunity to provide our customers in the region with locally produced ABS grades,” Steve Harrington, president of Asia-Pacific, said in a statement.

The company said the announcement of the new facility is part of a Strategic Cooperation Framework Agreement that it signed with the Ningbo Municipal People’s Government. 

“Asia has been identified by us as a significant growth market,” said Kevin McQuade, chief executive officer of INEOS Styrolution, in the release. “Today’s announcement shows our dedication to our Triple Shift growth strategy. As the global leader in styrenics, we are committed to supporting our Chinese customers’ growth with our new local production capabilities.”

The market for ABS (acrylonitrile butadiene styrene) is expected to grow at a CAGR of over 5% between 2019 and 2024, according to a recent market forecast.

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