CBF BioMaterials Pre-Issue

INCLUDING BIO-BASED CHEMICALS, BIO-POLYMERS & THEIR PETROCHEMICAL EQUIVALENTS
BIO-MATERIALS & INTERMEDIATES

ISSUE NUMBER 000
1ST JULY 2013
CHEMICAL BUSINESS FOCUS

A MONTHLY ROUNDUP AND ANALYSIS OF THE
KEY FACTORS SHAPING WORLD CHEMICAL MARKETS
CONTACT: PHILIPPA DAVIES
Email: philippa.davies@orbichem.com
Ethylene/Polyethylene
Braskem to expand sugarcane-based LDPE production capacity by 30 ktpa in 2014
Monoethylene Glycol
JBF Industries and Coca Cola in partnership to set up bio-MEG plant in Sao Paolo, Brazil by 2016
Polyethylene Terephthalate
Toyota Tsusho using bio-based PET from bio-MEG in its GLOBIO for Suntory water bottles from
May 2013
1,4 Butanediol
BASF plans to build world-scale 1,4-BDO based on renewable feedstock using Genomatica process
Polyamides
Arkema acquires 25% stake in castor oil producer, Ihsedu Agrochem for bio-polyamide production
Propylene Glycol
Global Bio-Chem polyol chemical expansion in Xinglongshan depends on bio-MPG market
performance
Butanols
AkzoNobel and Solvay partner on Solvays Augeo line of renewable oxygenated solvents, including
bio-butanol, bio-acetone and their derivatives for paints and coatings
Epichlorohydrin
AkzoNobel has partnered with Solvay in sourcing epoxy resins made with Solvays glycerol-based
epichlorohydrin (ECH)
Succinic Acid
Myriant successfully started commercial production of biobased succinic acid at its 14ktpa plant in
Lake Providence, Louisiana, USA
Fatty Acids
Solazyme to start commercial production of feedstock algal oils for tailored high myristic and high
oleic fatty acids
Fatty Alcohols
Wilmars 150 ktpa fatty alcohol facility in Indonesia expected to start up in June
Glycerol
METabolic EXplorer forms marketing agreement for glycerol-based 1,3 propanediol (PDO)
Polylactic Acid (PLA)

US PLA producer, NatureWorks, chooses Cromex as Brazilian distributor for Ingeo fibres and
plastics
PRICE MONITOR
US PRICES
Mar-2013 Apr-2013 May-2013 28-Jun-2013 28-Jun-2013
/lb /lb /lb /lb $/ton
Ethylene Contract Monthly 48.00 N.A. N.A. N.A. DDP N.A.
MEG Spot 43.00 - 48.00 40.00 - 44.00 41.00 - 45.00 39.00 - 42.50 FOB 860 - 937
Bio-based 57.0 - 59.0 54.0 - 55.0 55.0 - 56.0 53.0 - 53.5 DDP 1168 - 1179
Polyester Bottle Polymer 98.5 - 101.5 93.0 - 95.5 93.0 - 95.5 92.5 - 95.0 DDP 2039 - 2094
Bottle Polymer Bio-based 105.5 - 106.5 100.0 - 100.5 100.0 - 100.5 99.5 - 100.0 DDP 2194 - 2205
Adipic Acid Contract 100 - 105 100 - 105 100 - 105 100 - 105 DDP 2205 - 2315
Monopropylene Glycol Industrial Grade Contract 84.00 - 97.00 84.00 - 97.00 79.00 - 92.00 74.00 - 87.00 EXW 1631 - 1918
n-Butanol Export 63.5 60.8 - 61.7 59.0 N.A. FOB N.A.
Epichlorohydrin Contract 103 - 113 103 - 113 102 - 112 94 - 98 DDP 2072 - 2161
1,4-Butanediol Contract Quarterly 144 - 154 141 - 154 141 - 154 141 - 154 DDP 3108 - 3395
Succinic Acid Contract N.A. N.A. 113.0 113.0 DDP 2491

Bio-based N.A. N.A. 113.0 113.0 DDP 2491
$/ton $/ton $/ton $/ton

Fatty Acids (Bio-based) Stearic Acid Contract N.A. N.A. 1250 - 1470 N.A. CFR
Oleic Acid Contract N.A. N.A. 1740 - 1830 N.A. CFR
Fatty Alcohols (Bio-based) C12-C15 Contract N.A. N.A. 1900 N.A. CFR
C16-C18 Contract N.A. N.A. 1900 N.A. CFR
Glycerol (Bio-based) Refined Glycerine Contract N.A. N.A. 1000 N.A. CFR
Crude Glycerine Spot N.A. N.A. 200 - 300 N.A. CFR
N.A. = Not Available = Revised
Current one US dollar equivalent (28-Jun-2013)

: 0.769 : 0.659 (1/1.517) Yen: 99.3 NT$: 29.97 Won: 1142.05 Rmb: 6.14 Rs: 59.43
Current one equivalent (28-Jun-2013)
US$: 1.300 : 0.857 (1/1.167) Yen: 129.2
Information contained in this report is obtained from sources believed to be reliable, however no responsibility nor liability will be accepted by Tecnon
OrbiChem for commercial decisions claimed to have been based on the content of the report.
Reproduction of any part of this work by any process whatsoever without written permission of Tecnon OrbiChem is strictly forbidden.
2 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

FRONT PAGE
PRICE
PRICE MONITOR
MONITOR
WEST EUROPE
COMPANY NEWSPRICES
Mar-2013 Apr-2013 May-2013 28-Jun-2013 28-Jun-2013
PRODUCT NEWS /ton /ton /ton /ton $/ton

Ethylene Contract Monthly 1325 1265 1165 1170 DDP 1521
ETHYLENE
MEG
& POLYETHYLENE
Spot T2 880 - 920 810 - 830 790 - 820 780 - 820 FOB 1014 - 1066
Bio-based 1080 - 1120 1010 - 1030 920 - 990 980 - 1020 FOB 1274 - 1326
MONOETHYLENE GLYCOL
Polyester Bottle Polymer Northern Europe 1422 - 1437 1377 - 1392 1361 - 1376 1340 - 1355 DDP 1743 - 1762
POLYETHYLENE Bottle Polymer Bio-based 1522 - 1537 1477 - 1492 1461 - 1476 1440 - 1455 DDP 1873 - 1892
TEREPHTHALATE
Adipic Acid (PET) New Contract 1680 - 1700 1680 - 1720 1680 - 1720 1680 - 1720 DDP 2185 - 2237
Monopropylene Glycol Industrial Grade Contract 1240 - 1300 1220 - 1280 1180 - 1220 1160 - 1200 DDP 1508 - 1560
POLYAMIDES &
n-Butanol Export Asia N.A. 1036 N.A. N.A. FOB N.A.
INTERMEDIATES
Epichlorohydrin Contract 1745 - 1760 1820 - 1830 1780 - 1800 1745 - 1765 DDP 2269 - 2295
PROPYLENE GLYCOL
1,4-Butanediol Contract Quarterly 2030 - 2150 2045 - 2150 2045 - 2150 2045 - 2150 DDP 2659 - 2796
BUTANOLS
Succinic Acid Contract N.A. N.A. 1900 N.A. DDP N.A.
Bio-based N.A. N.A. 1900 N.A. DDP N.A.
EPICHLOROHYDRIN
Fatty Acids (Bio-based) Stearic Acid Contract N.A. N.A. 950 N.A. CFR N.A.
1,4 BUTANEDIOL Oleic Acid Contract N.A. N.A. 1000 N.A. CFR N.A.
Fatty Alcohols (Bio-based) C12-C14 Contract N.A. N.A. 1540 N.A. CFR N.A.
SUCCINIC ACID
Glycerol (Bio-based) Refined Glycerine Contract N.A. N.A. 570 - 650 N.A. CFR N.A.
FATTY ACIDS
N.A. = Not Available = Provisional = Revised
FATTY ALCOHOLS
GLYCEROL
: 0.769 : 0.659 (1/1.517) Yen: 99.3 NT$: 29.97 Won: 1142.05 Rmb: 6.14 Rs: 59.43
POLYLACTIC
US$: 1.300 ACID (PLA)
: 0.857 (1/1.167) Yen: 129.2
AGRICULTURAL SECTOR
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CHEMICAL PROFILE
POLYBUTYLENE SUCCINATE
(PBS)
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FRONT PAGE
PRICE
PRICE MONITOR
MONITOR
ASIA PRICES
COMPANY NEWS
Mar-2013 Apr-2013 May-2013 28-Jun-2013
PRODUCT NEWS $/ton $/ton $/ton $/ton

Ethylene Import East Asia 1260 - 1290 1170 - 1190 1190 - 1220 1250 - 1280 CFR
ETHYLENE
MEG
& POLYETHYLENE
Import Spot 1040 - 1090 980 - 1020 980 - 1020 950 CFR
Bio-based N.A. N.A. N.A. N.A. CIF
MONOETHYLENE GLYCOL
Polyester Bottle Polymer China Export 1440 - 1470 1390 - 1410 1400 - 1420 1380 - 1390 FOB
POLYETHYLENE Bottle Polymer Bio-based 1565 - 1595 1515 - 1535 1525 - 1545 1505 - 1515 CIF
TEREPHTHALATE
Adipic Acid (PET) Import Contract, High Quality 1950 1950 1880 - 1950 1800 - 1900 CFR
n-Butanol Import 1460 - 1500 1440 - 1460 1310 - 1380 1220 - 1250 CFR
POLYAMIDES &
Epichlorohydrin Spot 1450 - 1500 1450 - 1500 1550 - 1600 1500 - 1580 CFR
INTERMEDIATES
Bio-based N.A. N.A. 1550 - 1600 N.A. CFR
PROPYLENE GLYCOL
1,4-Butanediol China 2000 - 3000 1920 - 3000 1880 - 3000 1850 - 3000 CFR
BUTANOLS
Succinic Acid Contract N.A. N.A. 2500 2500 FOB
Fatty Acids (Bio-based) Lauric Acid Contract, Southeast Asia N.A. N.A. 1400 - 1450 N.A. FOB
EPICHLOROHYDRIN Oleic Acid Contract, Southeast Asia N.A. N.A. 1450 N.A. FOB
Stearic Acid Contract, Southeast Asia N.A. N.A. 950 N.A. FOB
1,4 BUTANEDIOL
Fatty Alcohols (Bio-based) C12-C14 Contract, Southeast Asia N.A. N.A. 1475 N.A. FOB
SUCCINIC ACID C16-C18 Contract, Southeast Asia N.A. N.A. 1385 N.A. FOB
Glycerol (Bio-based) Refined Glycerine Contract, Southeast Asia N.A. N.A. 885 - 910 N.A. FOB
FATTY ACIDS Crude Glycerine Spot, Southeast Asia N.A. N.A. 400 N.A. FOB
FATTY ALCOHOLS
N.A. = Not Available
GLYCEROL
: 0.769 : 0.659 (1/1.517) Yen: 99.3 NT$: 29.97 Won: 1142.05 Rmb: 6.14 Rs: 59.43
POLYLACTIC ACID (PLA)
US$: 1.300 : 0.857 (1/1.167) Yen: 129.2
AGRICULTURAL SECTOR
FEEDSTOCK NEWS decisions claimed to have been based on the content of the report.
OrbiChem for commercial
ECONOMIC
Reproduction ofNEWS
any part of this work by any process whatsoever without written permission of Tecnon OrbiChem is strictly forbidden.
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FRONT PAGE COMPANY NEWS

PRICE MONITOR
North America
COMPANY NEWS
Amyris, a US-based producer of farnesene, announced a multi-year collaboration with International
PRODUCT NEWS Flavors & Fragrances (IFF) to develop and commercialize a specific set of renewable fragrance ingredients.
IFF will have exclusive rights to the renewable-based fragrance ingredients in the flavours and fragrances
ETHYLENE & POLYETHYLENE (F&F) applications while Amyris will have exclusive rights in other fields of application. The companies did
not disclose specific names of the F&F chemicals developed using Amyriss farnesene-based molecules.
MONOETHYLENE GLYCOL
POLYETHYLENE BioAmber has partnered with chemical distributor, Brenntag, for the distribution of BioAmbers Bio-SA bio-
based succinic acid and derivatives, including bio-based 1,4-butanediol (BDO) in the Americas. BioAmber
TEREPHTHALATE (PET)
has also partnered with distributor IMCD Group targeting markets in the Benelux, France, Iberia, Germany,
POLYAMIDES & Poland, South East Europe, Switzerland, the UK, and Ireland.
INTERMEDIATES
Cereplast, a starch-based plastic producer, has restructured its global operation by closing its offices in El
PROPYLENE GLYCOL Segundo, California, and relocating its corporate headquarters to Seymour, Indiana. The company is also
closing its offices in Bonen, Germany, and moving its European headquarters to its office in Milan, Italy.
BUTANOLS The re-structuring will reduce the companys annual operating expenses by $600k-$800k per year.
EPICHLOROHYDRIN
Croda International Plc has completed the acquisition of the specialty products business of Arizona
1,4 BUTANEDIOL Chemical, based in Jacksonville, Florida. The acquired products include naturally-derived polyamides with
high bio-based content. No manufacturing assets were purchased as part of the transaction. Croda will
SUCCINIC ACID relocate the products to its Mevisa manufacturing site in Spain and the company plans to re-launch the
products with new trade names.
FATTY ACIDS
Myriant has scaled up and commercially-produced bio- succinic acid at ThyssenKrupp Uhdes biotech
FATTY ALCOHOLS
commercial validation facility in Leuna, Germany. The production reportedly meets targets for commercial
GLYCEROL yield and product quality. Myriant has been producing bio-succinic acid in Leuna since April 2013 and
has achieved a 3m lbs/year (1360 tons/year) operating rate at the plant. Myriant and ThyssenKrupp Uhde
POLYLACTIC ACID (PLA) have worked together since 2009 with the goal of making their bio-succinic acid process cost-competitive
and to produce the highest purity product at commercial-scale. Future Myriant plants are expected to be
AGRICULTURAL SECTOR
built by Uhde.
FEEDSTOCK NEWS
NatureWorks and Calysta Energy have collaborated to research and develop world-scale production
ECONOMIC NEWS
process for fermenting methane into lactic acid, the building block for NatureWorks Ingeo polylactic acid
CHEMICAL PROFILE (PLA) resins. The companies expect price for Ingeo PLA resins will further decline if the collaboration
results in a successful commercialization of the technology.
(PBS) Synthesis Energy Systems (SES), a Houston, US-based energy and gasification technology company,
has developed a process that integrates its gasification technology with renewable waste resources and
STUDIES
natural gas to cost-effectively produce chemicals such as methanol and methanol derivatives. SES believes
CONFERENCES this new approach has primary applicability near large metropolitan areas where it can enable economical
production of chemicals, at nominal quantities of 500,000 tons per year. It potentially offers a long-term
ACCESS solution for the utilization of ever-increasing amounts of municipal waste generated worldwide.
TECNON ORBICHEM
Europe
ONLINE
AkzoNobel and Solvay have signed an agreement to establish a partnership for the use of Solvays
Augeo line of renewable oxygenated solvents such as bio-butanol, bio-acetone and their derivatives,
within AkzoNobels formulations of paints and coatings. All the products under the Augeo line are
developed entirely in Brazil, targeting both local and global markets.
Under the deal, AkzoNobel is expected to get bio-based solvent volumes of up to 10,000 tons/year by
2017. The project is expected to take over two years and both companies will mobilize specific resources
starting Q2 2013.

FRONT PAGE AVA Biochem, a Switzerland-based renewable chemicals developer, has begun operation of its 20
tpy industrial plant production of 5-hydroxymethylfurfural (5-HMF) in Muttenz, Switzerland. Until now,
PRICE MONITOR
there was no industrial process worldwide for the production of this platform chemical. The company uses
COMPANY NEWS biomass such as woodchips for feedstock. AVA Biochem intends to deliver the product to industrial and
research customers around the globe.
PRODUCT NEWS
CSM, the co-owner of bio-succinic acid producer Succinity GmbH, has changed its name to Corbion. The
ETHYLENE & POLYETHYLENE companys biochemical business focuses on PLA, bio-succinic acid, and lactic acid derivatives. It expects
sizeable investments in lactic acid capacity expansion in 2014-2015. Succinity is also expected to expand
MONOETHYLENE GLYCOL
its bio-succinic acid capacity to between 50 ktpy and 100 ktpy by 2015-2017, if its 10 ktpy pilot facility
POLYETHYLENE in Spain is successful as it starts operation by the end of 2013.
TEREPHTHALATE (PET)
Global Bioenergies, based in France, has started scaling up its 42-litre laboratory pilot production of bio-
POLYAMIDES & isobutene to a 500-litre fermenter, which represents a yearly production capacity of 10 tons. The industrial
pilot facility will be installed in Bazancourt-Pomacle biorefinery near ARDs agro-industrial complex. The
INTERMEDIATES
facility will include a purification unit installed downstream of the fermenter, which will allow the production
PROPYLENE GLYCOL of intermediate-purity isobutene batches.
BUTANOLS The isobutene will be then transferred to French specialty chemical firm, Arkema, for its own research.
Arkema will also develop an oxidation process adapted to the specifications of renewable products
EPICHLOROHYDRIN
obtained by fermentation in collaboration with two CNRS (Centre National de la Recherche Scientifique)
1,4 BUTANEDIOL laboratories; IRCELYON and UCCS. The government of France is contributing a 5.2M ($6.74m) three-
year grant to the isobutene industrialization program, of which 4 million will go to Global Bioenergies.
SUCCINIC ACID
KNN in Groningen, Netherlands, and Anoxkaldnes in Lund, Sweden, both research technology
FATTY ACIDS firms, have partnered towards production of polyhydroxyalkanoate (PHA) resin production in northern
Netherlands using industrial and municipal wastewater for feedstock.
FATTY ALCOHOLS
GLYCEROL METabolic EXplorer (Metex), based in France, has signed two letters of intent with two international
manufacturers to sell its bio-based 1,3 propanediol (PDO) under the brand name,TEXEROL. The two
POLYLACTIC ACID (PLA) manufacturers commitments will absorb more than half of the companys future 50 ktpa commercial
capacity planned for Malaysia. The facility is expected to have an initial output of 8 ktpa using crude
AGRICULTURAL SECTOR
glycerol as feedstock.
FEEDSTOCK NEWS
Metex has also announced that it has produced its first samples of butyric acid, a by-product of the
ECONOMIC NEWS
manufacture of bio-PDO, at the laboratory stage. The company, meanwhile, has discontinued its
CHEMICAL PROFILE development of glycolic acid and butanol.
Novamont, a bioplastic company based in Italy, launched its fourth generation Mater-Bi biodegradable
(PBS) and compostable bioplastic line that will use vegetable oil-based azelaic acid and sugar-based 1,4
butanediol (BDO) for feedstock. The new materials can be used in applications such as flexible and rigid
STUDIES
films, coatings, printing, extrusion and thermoforming.
CONFERENCES
Roquette, a starch-based derivatives producer, has restarted its production unit for its DISORBENE
ACCESS sorbitol-based polymer clarifiers in Lestrem, France. The agents reduce haze in polypropylene and give
TECNON ORBICHEM clarity and transparency to products such as food trays, yogurt cups and storage boxes. Roquette has also
launched its third generation sorbitol-based clarifier DISORBENE 3.
ONLINE
UPM, a Finnish pulp and paper company has partnered with US cellulosic sugar developer Renmatix
to convert woody biomass into low-cost sugar intermediates for subsequent downstream processing into
biochemicals. Renmatixs Plantrose process employs water at very high temperatures and pressures
to breakdown biomass through supercritical hydrolysis. The companies are still in the mill-scale concept
development stage and has not disclosed specific plans for building a renewable chemicals facility.
Asia
PTT Global Chemical (PTTGC) of Thailand announced the formation of a joint venture company called
Auria BioChemical Co. Ltd. with US bio-succinic acid producer Myriant. The goal of the joint venture is to

FRONT PAGE conduct research and development of bio-based chemicals and to eventually invest in a commercial scale
production plant in Southeast Asia. Auria BioChemical has been registered in Thailand with a capital of
PRICE MONITOR
90 million Baht ($3 million). PTTGC holds 54% of the total share of the company, with an investment of
COMPANY NEWS 48.6m Baht.
PRODUCT NEWS Cardia Bioplastics has partnered with the University Of Sydney, Australia, to create a more cost-effective
and higher-purity polypropylene carbonate polymers (PPC), a class of biodegradable polymers that use
ETHYLENE & POLYETHYLENE carbon dioxide for feedstock. The plastics being developed will have a broad range of use, from fully
recyclable shopping bags to biodegradable medical implants. The research is also focusing on developing
MONOETHYLENE GLYCOL
large-scale solvent-free technologies that reduce the levels of heavy metal used in PPC.
POLYETHYLENE
TEREPHTHALATE (PET)
PRODUCT NEWS
POLYAMIDES & Addivant USA LLC has started commercialization of its POLYBOND 6009 and POLYBOND 6029,
INTERMEDIATES the companys first plant-derived polymer modifiers, developed to act as coupling agents or compatibilizers
in formulations where high renewable content raw materials are desired. Biopolymers incorporating the
PROPYLENE GLYCOL new POLYBOND products reportedly enhanced mechanical and physical properties resulting from the
chemical coupling of the polar and non-polar components of the formulation.
BUTANOLS
Axiall Corporation based in Atlanta, Georgia, USA, has introduced bio-based flexible vinyl plasticizers
EPICHLOROHYDRIN
under the trade name Aspire, reportedly the markets first phthalate-free, bio-based compounds offering
1,4 BUTANEDIOL improved performance at a price that is equal to its traditional non-sustainable counterparts. The compounds
have greater than 25% renewable content and meet the US Department of Agricultures (USDA) BioPreferred
SUCCINIC ACID Program requirements.
FATTY ACIDS BASF has launched new variants to its range of compostable and partially bio-based plastic Ecovio. The
Ecovio T2308 is available for the processing method of thermoforming, and Ecovio IS1335 grade is
FATTY ALCOHOLS
available for injection molding. Ecovio is made from the combination of either starch-based or polylactic
GLYCEROL acid-based resins and BASFs biodegradable petroleum-based aliphatic-aromatic co polyester PBAT
(polybutyl adipic terephthalic acid) under the brand Ecoflex.
AGRICULTURAL SECTOR
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FRONT PAGE Cereplast, a US bioplastic producer, has launched a new bioplastic resin grade Biopropylene A150D,
an injection molding grade manufactured with 51% post-industrial algae biomass. The bioplastic resins
PRICE MONITOR
is commercially available starting Q2 2013. Biopropylene A150D can be processed on existing
COMPANY NEWS conventional electric and hydraulic reciprocating screw injection molding machines, and is recommended
for thin wall injection molding applications. Cereplasts subsidiary Algaeplast is expected to develop a
PRODUCT NEWS 100% algae-based plastic within the next three years.
ETHYLENE & POLYETHYLENE Far Eastern New Century (FENC) Corporation, a Taiwan-based polyester producer, has successfully
made high-performance fibers and clothing under their line of functionalized apparel such as TopCool
MONOETHYLENE GLYCOL
containing up to 50% biobased polymer using Genomaticas bio-1,4 butanediol (BDO). FENC is currently
POLYETHYLENE in discussion with customers for these high bio-content fibers and expects to source biobased BDO from one
of Genomaticas licensed producers.
TEREPHTHALATE (PET)
POLYAMIDES &
INTERMEDIATES
PROPYLENE GLYCOL
BUTANOLS
EPICHLOROHYDRIN
1,4 BUTANEDIOL
SUCCINIC ACID
FATTY ACIDS
FATTY ALCOHOLS
GLYCEROL
AGRICULTURAL SECTOR
FEEDSTOCK NEWS
Plantic Technologies, a Germany-based bioplastic company, has developed a renewable and
ECONOMIC NEWS
recyclable ultra-high barrier packaging under the tradename Plantic eco Plastic R. The new material
CHEMICAL PROFILE combines PET and Plantics biodegradable film that provides materials with ultra-high gas barrier properties
and is made from up to 60% renewable materials content.
(PBS) Materis, a leading France-based paint producer, and RPC Superfos, the biggest packaging provider for
Materis in France have launched a paint product under the brand GEODE where both the pail and the
STUDIES
paint are plant-based. The biobased pail was made from starch-based thermoplastic resins called Gaialene
CONFERENCES made by France-based Roquette.
ACCESS SC Johnson, a US-based consumer products company, has launched its Ziploc Brand Compostable Bags
TECNON ORBICHEM such as sandwich bags, food storage bags and food scrap bags that are designed for use in commercial
composting facilities that accept food scraps and compostable bags. The compostable bags are not suitable for
ONLINE
backyard composting because they are less efficient than commercial composting facilities.
Takeda Pharmaceutical Company Limited of Japan will start using bio-polyethylene (Bio-PE) bottles as the
primary packaging container for its hypertension treatment product, Azilva (500-tablets, bulk packaging). The Bio-PE
is made by Braskem using sugarcane feedstock. The Bio-PE bottles have been tested for critical functionalities such as
moisture permeability and shock resistance, as well as their potential impact on the quality of tablets.
Tetra Pak, a global packaging company, has launched LightCap 30, a high-density polyethylene (HDPE)
cap made from sugarcane, which is now being used on its Tetra Brik Aseptic Edge for range of products.
Norwegian dairy producer TINE is the first brand in Europe to use the biobased caps on its Piano vanilla
sauce, TINE iced coffee, iced tea and chocolate milk packaged in the Tetra Brik Aseptic Edge.

FRONT PAGE ETHYLENE AND POLYETHYLENE

PRICE MONITOR
North America - Petrochemical
COMPANY NEWS
There has been no settlement yet of contract prices in the US for April, May and June. It now appears
PRODUCT NEWS likely that a three-month settlement will be agreed early in July. The tragic accident at the Williams Geismar
site on 13 June and the subsequent fall in ethane prices have dominated the market in June. Ethane fell
ETHYLENE & POLYETHYLENE by 3 c/gal to around 23 cents, recovering later to 24-25 c/gal. Spot ethylene rose by around 10 c/lb
to 62-63 c/lb. By 26 June it had fallen back to 57 c/lb. Shell at Norco, Dow No 7 at Freeport and
MONOETHYLENE GLYCOL
ChevronPhillips at Port Arthur all re-started late in the month bringing 1.97 million tpa of ethylene capacity
POLYETHYLENE back on stream..
TEREPHTHALATE (PET)
South America - Bio-based
POLYAMIDES &
INTERMEDIATES International packaging company Tetra Pak has signed a supply agreement with Braskem for its sugarcane-
based low-density polyethylene (LDPE), which will be used in all Tetra Pak packages produced in Brazil.
PROPYLENE GLYCOL
The biobased LDPE supply is scheduled to start during the first quarter of 2014 and will be used as a
BUTANOLS component of Tetra Paks packages produced in Brazil. The packaging materials will have renewable-
based components of up to 82%. Tetra Pak said about 13bn biobased packages will be produced in
EPICHLOROHYDRIN
Brazil.
1,4 BUTANEDIOL
Braskem said the LDPE made from sugarcane has the same technical properties as LDPE made from fossil
SUCCINIC ACID sources. Braskem biopolymers are marketed under the trademark Im green. The company announced
last month that it is planning to expand its 200 ktpa bio-PE production in Rio Grande do Sul with a 30
FATTY ACIDS ktpa line producing sugarcane-based LDPE. The biobased LDPE is expected to be available in the market
starting January 2014.
FATTY ALCOHOLS
GLYCEROL Braskem recently announced that it will also start marketing PE caps for carbonated beverages in the
second half of this year, and that the PE caps can also be made from Green PE.
Braskem has been producing sugarcane ethanol-based high-density polyethylene (HDPE) and linear low-
AGRICULTURAL SECTOR
density polyethylene (LLDPE) since September 2010 at its 200,000 ton/year Green PE plant in Rio Grande
FEEDSTOCK NEWS do Sul near Porto Alegre, Southern Brazil.
ECONOMIC NEWS
West Europe - Petrochemical
CHEMICAL PROFILE
The European contract for June was settled at an increase of 5/ton to 1170/ton ddp. Spot has been
tighter in June with two major crackers down on turnaround BPRP at Gelsenkirchen and BASF at Antwerp.
(PBS) Spot prices have increased relative to contract. Whereas last month numbers fell to as much as 25% below
the contract level, prices in late June are in the region of 1000-1050/ton ddp, or 10-15% below contract.
STUDIES
Spot prices at the coast are estimated to be about $1300/ton cif for imported material, not that there is very
CONFERENCES much available. On 25 June the BASF Antwerp cracker was reported to be producing on-spec material
ACCESS Asia - Petrochemical

TECNON ORBICHEM
Ethylene markets in Asia were quiet early in June and only started to pick up after the Chinese Dragon Boat
ONLINE
holiday on the 12th. Spot prices ended May in the range of $1195-1220/ton cfr. A cargo was sold
at $1195/ton cfr China for first half July loading. By the middle of the month the range had increased
to $1200-1230/ton cfr. In Southeast Asia a cargo was reported sold at $1250/ton fob. By 20 June
the range of prices had firmed to $1240-1270/ton because of stronger demand from China and spot
numbers reached $1250-1280/ton by the 24th.

FRONT PAGE MONOETHYLENE GLYCOL

PRICE MONITOR
COMPANY NEWS
MEG demand is reported as being fair, but not as high as had been expected. One major supplier put this
PRODUCT NEWS down to an increase in the imports of PET resin, most likely from Mexico. MEGlobal and Indorama both
reduced their benchmark prices this month by 2.0 c/lb to give levels of 61.0-62.0 c/lb DDP.
ETHYLENE & POLYETHYLENE
This was not because of any fall in the ACP, which was actually rolled over, but as a reaction to global spot
MONOETHYLENE GLYCOL
pricing and possibly a forewarning of the reduction to come on the July ACP. Supplies could still be snug,
POLYETHYLENE as Shells Scotford plant is still on turnaround into early July.
TEREPHTHALATE (PET)
The Americas - Bio-based
POLYAMIDES &
INTERMEDIATES Mexico and the US continue to import bio-MEG from India. It is unlikely that bio-MEG would be produced
in North America, certainly it can not compete on a cost basis with new EO/EG capacity based on
PROPYLENE GLYCOL ethylene from ethane from shale gas exploitation. Imports can be expected to continue of either bio-MEG
or part-bio-PET to meet the perceived consumer demand for bio-based (or in this case, partly-bio-based)
BUTANOLS plastics.
EPICHLOROHYDRIN
JBF Industries and Coca Cola have entered into a partnership to set up a bio MEG plant in Sao Paolo Brazil.
1,4 BUTANEDIOL The facility will be the worlds largest bio-MEG unit at 500 ktpa and will use locally sourced sugarcane and
sugarcane process waste to produce bio ethanol. The project is expected to come on stream by the end of
SUCCINIC ACID 2015/beginning of 2016.
FATTY ACIDS West Europe - Petrochemical

FATTY ALCOHOLS
The MEG contract price for May in Europe was settled at 965/ton ddp before discounts in late month.
GLYCEROL This was a drop of 55/ton. So far no agreement has been reached on the June level.
POLYLACTIC ACID (PLA) The spot market in Northern Europe is still fairly lax and price levels were being quoted around 760-770/
ton FCA in early June. However, lower import volumes have produced some upward movement and spot
AGRICULTURAL SECTOR
prices are now quoted in the range 780-820/ton ddp.
FEEDSTOCK NEWS
ECONOMIC NEWS UNITED STATES, WEST EUROPE & ASIA

MONOETHYLENE GLYCOL SPOT PRICES
CHEMICAL PROFILE US Dollars per Ton
2000
POLYBUTYLENE SUCCINATE US Spot
Export FOB
(PBS) 1750 WE Spot
FOB
STUDIES 1500 Asia Spot
Import CFR
CONFERENCES
1250
ACCESS
1000
TECNON ORBICHEM
ONLINE 750
500
250
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Source: Tecnon OrbiChem

FRONT PAGE West Europe - Bio-based

PRICE MONITOR
Some volume of bio-MEG continues to be imported from India into Europe. This material is thought to
COMPANY NEWS be used in specialty PET material manufactured in the UK by Indorama for the European market. April
contracts are understood to be settled at 1020/ton. Prices for bio-MEG are estimated around $250-
PRODUCT NEWS 350/ton higher than conventional MEG, although specific prices are difficult to confirm.
ETHYLENE & POLYETHYLENE The May MEG market has been sluggish but there is hope that with improving weather conditions demand
will pick up. The driver for the bio-based market will be a commitment to the environment through marketing
MONOETHYLENE GLYCOL
(as in the case of Coca Cola). But price will depend largely on conventional MEG prices, to which a
POLYETHYLENE premium then applies.
TEREPHTHALATE (PET)
Asia - Petrochemical
POLYAMIDES &
INTERMEDIATES Demand for MEG in China has shown no signs of improvement, quite the contrary, as it appears that it has
actually dropped. This is because the period of high offtake anticipated from the polyester fibre industry
PROPYLENE GLYCOL for the autumn and winter seasons has now finished. Traders and distributors have been rushing to offload
inventories ahead of a feared action by the Chinese government to curb speculation in the markets. This
BUTANOLS flurry of sales has caused import spot prices to move down from around $1025/ton cfr in late May to
$950-960/ton cfr in early June.
EPICHLOROHYDRIN
1,4 BUTANEDIOL The east coast MEG import inventories went up to around 950,000 tons. The June ACP was rolled over at
$1150-1190/ton cfr and MEGlobal announced a drop of $90/ton to $1100/ton Cfr for its July ACP.
SUCCINIC ACID
Asia - Bio-based
FATTY ACIDS
Bio-MEG for the global market is produced in India by India Glycols using ethylene from molasses (125
FATTY ALCOHOLS
ktpa) and in Taiwan by Greencol, using ethylene made from sugar cane-based ethanol from Brazil (130
GLYCEROL ktpa). This material is used, among other things, to make Plant Bottle for Coca Cola, a product that is
marketed as being up to one third plant based (that is, the glycols part of the PET bottle is bio-based; the
POLYLACTIC ACID (PLA) remainder being PTA, which until now, can not be made commercially from bio intermediates). Bio-MEG
from India is sent directly to the USA, Taiwan, the U.K., Mexico and Indonesia. Bio-MEG is shipped from
AGRICULTURAL SECTOR
Taiwan to Japan for use in specialty products by Toyota Tsusho (automotive interior polyester fabrics). There
FEEDSTOCK NEWS are also some exports of Indian bio-MEG to the UK, where some specialty PET is manufactured.
ECONOMIC NEWS
POLYETHYLENE TEREPHTHALATE (PET)
CHEMICAL PROFILE
(PBS) North American PET resin shipments in June were described as good, but modestly below seasonal
expectations. Resin prices were generally steady with May as raw material costs have been unusually
STUDIES
stable for the third month in a row. Utilisation rates were reported in the mid-80s. Dak Americas has
CONFERENCES announced a capacity rationalisation plan that includes shutting its Cape Fear facility by September this
year. The move follows DAKs announcement to team with M&G and take output from M&Gs planned
ACCESS 1,000 ktpa Corpus Christi facility and Indoramas 540 ktpa expansion in Decatur, Alabama.
TECNON ORBICHEM
The Americas - Bio-based
ONLINE
Competition continues amongst many brand owners to achieve 100% bio-PET but this goal has not yet
been reached. Coca Cola is producing its PlantBottle PET bottle, which is up to one third bio-based (the
MEG component of the bottle can be replaced in part or wholly with bio-MEG), since 2009. Partly bio-
sourced PET is produced by Dak in the United States and South America with MEG from Asia. Indorama is
selling Asian produced bio-PET in the US market. Prices at around $2250/ton are understood to be about
$100-150/ton higher than those for conventional PET.
On PET feedstocks, apart from MEG, no commercial products are yet available. There are a lot of projects
in the works, however.

FRONT PAGE
UNITED STATES, WEST EUROPE & ASIA
PRICE MONITOR PET RESIN CONTRACT PRICES
US Dollars per Ton
COMPANY NEWS 2750
US DDP
W Europe
PRODUCT NEWS 2500
DDP
Asia DDP
ETHYLENE & POLYETHYLENE 2250
2000
MONOETHYLENE GLYCOL
1750
POLYETHYLENE
TEREPHTHALATE (PET) 1500
POLYAMIDES & 1250
INTERMEDIATES 1000
PROPYLENE GLYCOL 750
BUTANOLS 500
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
EPICHLOROHYDRIN
1,4 BUTANEDIOL
SUCCINIC ACID California-based Micromidas Inc. recently announced that it has developed a chemo catalytic route to
paraxylene from cellulosic biomass (e.g. post-consumer paper products, agricultural residues, wood waste,
FATTY ACIDS paper sludge) and ethylene. Micromidas has determined that the first commodity chemical that it will
produce will be paraxylene (PX), and the company reports that recent trials indicate that their process is
FATTY ALCOHOLS
directly competitive with naphtha-based PX.
GLYCEROL
Brand owners like Coca Cola and PepsiCo are on the hunt for 100% bio-based PET bottle packaging that
POLYLACTIC ACID (PLA) will be cost-competitive with petroleum-based PET.
AGRICULTURAL SECTOR
According to Micromidas, the company is currently commissioning a pilot plant with a nameplate capacity
FEEDSTOCK NEWS of 500 kg/day of PX. The company said its highly selective synthesis produces only biobased PX without
the presence of meta or orthoxylene monomers. Their process does not involve fermentation.
ECONOMIC NEWS
CHEMICAL PROFILE According to the companys report, Micromidass process achieves very high yields, utilizing a 3-step
standard chemical conversion with conventional reactor/separation equipment and configurations. The
process is highly flexible, capable of handling a wide variety of waste feedstocks such as OCC, rice hulls,
(PBS) empty palm fruit bunches, paper sludge, and wood chips. Further details regarding the process and
economics are expected to be released in late June.
STUDIES
CONFERENCES Dak Argentina is producing bio-PET for use by converters for Coca Cola, Danone and Nestle.
ACCESS West Europe - Petrochemical

TECNON ORBICHEM
West European PET resin demand was mixed during June depending on country and market segment. Resin
ONLINE
prices decreased modestly in line with declining raw material costs. Regional and market segment demand
differences have led to broadly different utilisation rates between producers. Supply chain destocking has
increasingly localised sourcing decisions helping regional producers be more competitive with imports..
West Europe - Bio-based
Indorama UK is producing some bio-PET for the European market, using bio-MEG from Asia, according
to sources. Avantium, a renewable chemicals company, and ALPLA Werke Alwin Lehner GmbH, one of
the worlds leading plastic converters, announced on 30 May their Joint Development Agreement for the
development of polyethylene furanoate (PEF) bottles. After The Coca Cola Company and Danone, ALPLA
is the third company to collaborate with Avantium on PEF, a bioplastic based on Avantiums proprietary

FRONT PAGE
EUROPEAN UNION IMPORTS
PRICE MONITOR PET RESIN
March 2013 Jan-Mar 13 Jan-Mar 12
COMPANY NEWS Tons $/Ton Tons Tons
Mexico 159 1,893 3,968 4,423
PRODUCT NEWS Switzerland 367 1,448 1,307 1,513
Croatia 578 1,025 1,595 896
ETHYLENE & POLYETHYLENE Russia 350 1,644 998 14,377
Egypt 405 1,336 1,575 -
MONOETHYLENE GLYCOL Oman 10,918 1,557 38,800 30,521
Turkey 275 2,169 560 563
POLYETHYLENE UAE 451 1,561 6,362 15,774
India 10,931 1,555 29,469 11,091
TEREPHTHALATE (PET) Malaysia - - 308 1,712
China 1,010 1,683 6,240 5,649
POLYAMIDES & South Korea 8,917 1,567 35,459 58,098
INTERMEDIATES Taiwan 1,876 1,742 4,560 1,782
Non-EU Suppression 2,597 1,640 6,371 11,654
Not Determin Extra 225 1,554 1,462 726
PROPYLENE GLYCOL
Others 100 2,377 517 1,586
Total 39,159 139,551 160,365
BUTANOLS
The figures in this table are the total, summed over all 27 EU countries, of trade with
countries outside the EU. Readers should note, however, that some EU countries may have
EPICHLOROHYDRIN suppressed data if trade for this product is commercially sensitive, so it is possible that
there is under-reporting in the above figures.
1,4 BUTANEDIOL $/ton figures are calculated from customs data and may not reflect market prices
SUCCINIC ACID
YXY technology. The goal of these collaborations is to bring 100% biobased PEF bottles to the market by
FATTY ACIDS 2016. This would replace some PET production, which up to this point is only up to one third biobased.
FATTY ALCOHOLS
Asia - Petrochemical
GLYCEROL
Although Junes PET resin exports for Chinese producers were steady with Mays strong levels, domestic
POLYLACTIC ACID (PLA) shipments were modestly lower and below seasonal expectations. Export volumes were good primarily
due to compromises in pricing which has damaged margins. Weaker domestic demand has resulted in
AGRICULTURAL SECTOR
modestly lower utilisation rates (85-90%) and increasing finished product stocks. Additional capacity due
FEEDSTOCK NEWS to start in July and August will make it more difficult for producers to recover margin, particularly as the
market enters the fall season.
ECONOMIC NEWS
CHEMICAL PROFILE PET resin markets for South Korean and Taiwanese producers were the reverse of China with weakening
export shipments, but seasonal strong domestic demand.
(PBS) Asia - Bio-based
STUDIES
Far Eastern New Century is producing about 30-40 ktpa of partially bio-based PET in Taiwan, using green
CONFERENCES MEG from India Glycols, in India. This product is produced on a tolling basis for Coca cola, Danone and
Nestle. Nanya is reportedly considering bio-PET but has not yet made this investment decision. In Korea,
ACCESS Lotte is producing bio-PET but sourcing of bio-MEG from Taiwan has been limited and operating rates
TECNON ORBICHEM on bio-PET have been estimated at 50% of capacity or less. Limited demand from Europe, which was
expected to be the target market for much of this material, has also resulted in low operating rates.
ONLINE
Teijin is producing bio-based PET marketed under the brand ECO Circle PlantFiber. Teijin said the bio-
polyester has been selected for use in the seats and interior trim surface of the 100% electric Nissan LEAF
automobile. ECO CIRCLE Plantfiber is used for the seats, parts of the door trim, headrests and centre
armrest. The seat and interior trim surface were co-developed by Teijin, automotive seat manufacturer
Suminoe Teijin Techno Co., Ltd. and Nissan Motor Company Ltd. Teijin said it has been expanding its ECO
Circle Plantfibers global market for applications ranging from apparel, car seats and interiors to personal
hygiene products. The company aims to increase sales to over 50% of its total polyester fibre sales for
automotive seats and interiors by 2015. Teijin started its bio-PET fibre production around April 2012.

FRONT PAGE Teijin produces its own petroleum based DMT with a total capacity of 230 ktpa at the Matsuyama Factory
in Ehime Prefecture, Japan. The source of its bio-EG could be Greencol Taiwan, a joint venture between
PRICE MONITOR
Toyota Tsusho and chemical firm China Man-made Fiber Corp. (CMFC).
COMPANY NEWS
Teijins bioplastic polyester business, while not 100% bio-based, does boast recyclability. ECO CIRCLE
PRODUCT NEWS Plantfiber can be recycled using Teijin Fibers ECO CIRCLE closed-loop polyester recycling system. The
polyester is chemically decomposed at the molecular level by the system and then recycled as new DMT
ETHYLENE & POLYETHYLENE material comparable to petroleum-derived DMT.
MONOETHYLENE GLYCOL
Teijin said in 2011 that it has already produced its own 100% bio-PET fibre in the laboratory but there has
POLYETHYLENE been no update to this.
TEREPHTHALATE (PET)
In March 2013, Toyota Tsusho announced that by May this year it will be using bio-based PET from bio-
POLYAMIDES & MEG in its newly introduced, GLOBIO for the PET bottles of Suntory Natural Mineral Water, from three
natural sources (Okudaisen, Minami Alps, and Aso).
INTERMEDIATES
PROPYLENE GLYCOL GLOBIO consists of bio-based mono-ethylene glycol made by plant-derived bio ethanol, and refers to all
Bio-polyethylene terephthalate (Bio-PET) plastics produced and sold start-to-finish by Toyota Tsusho. The
BUTANOLS company estimates that since annual global demand for petroleum-based PET plastics is currently estimated
at approximately 60 million tons, it is predicted that with the rise of awareness regarding the need for
EPICHLOROHYDRIN
coexistence with nature, adoption of plant-derived PET plastics will expand approximately to more than 5%
1,4 BUTANEDIOL (approximately 3 million tons) of total demand by 2015.
SUCCINIC ACID POLYAMIDES & INTERMEDIATES

FATTY ACIDS North America - Petrochemical
FATTY ALCOHOLS
Rumours about an extended shutdown at one Texas adipic acid plant continue to swirl around, allowing
GLYCEROL rival producers to claim that the adipic acid market has become much tighter in May and June. There is
some agreement that less adipic acid is being exported from the US to Europe in the second quarter, but
POLYLACTIC ACID (PLA) this is somewhat short of a confirmation that US production has been reduced.
AGRICULTURAL SECTOR
Demand for adipic acid is steady from most downstream applications, and increasing in others. The
FEEDSTOCK NEWS automotive sector is growing strongly across North America, and the housing sector continues to show
bright spots here and there.
ECONOMIC NEWS
CHEMICAL PROFILE Adipic acid prices based on feedstock cost formulas have shown no consistent up or down trends since the
beginning of the year, and spot transactions are too thin to provide any indication for the overall market.
Open market prices are 100-105 c/lb.
(PBS)
A scheduled shutdown at the Brazil plant is expected shortly, but the exact timing and duration are details
STUDIES
that have not been confirmed.
CONFERENCES
North America - Bio-based
ACCESS
TECNON ORBICHEM US biobased adipic acid developer Rennovia has successfully demonstrated production of
hexamethylenediamine (HMDA) from glucose in a pilot phase. HMDA can be produced using adipic
ONLINE
acid as feedstock (although this process is outdated and no longer used) but, according to Rennovia, the
company has developed a lower-cost route of directly producing HMDA from sugars
HMDA is a precursor for the production of Polyamide 6,6 in combination with adipic acid. The intermediate
is currently produced from petroleum-derived propylene or butadiene. The market for HMDA is estimated at
1361 ktpa with a value or more than $4 billion worldwide.
Rennovia expects production costs for its bio-based HMDA to be 20-25% below that of conventional
petroleum-based HMDA with significantly lower per-unit capital cost. Rennovias next step is to produce
bio-based HMDA and glucose-based adipic acid at a demonstration scale. Rennovia has already refined
its bio-adipic acid process after more than 18 months of pilot operation.

FRONT PAGE The company is targeting a commercial demonstration unit for bio-adipic acid by 2014 with a fully
integrated mini-plant designed to allow direct scale-up to the full commercial scale of 135 ktpa, which is
PRICE MONITOR
anticipated for 2018.
COMPANY NEWS
Rennovia claims that its bio-based adipic acid will be highly cost-competitive not only against petroleum-
PRODUCT NEWS based adipic acid but bio-based materials that are currently being developed by companies such as
Verdezyne, BioAmber, DSM and Genomatica.
The current adipic acid price of around $2205/ton ddp is based on cyclohexane prices of around $1335/
MONOETHYLENE GLYCOL
ton fob. Bio-based feedstock is much lower in price at around $300/ton for glucose, suggesting there may
POLYETHYLENE be an advantage for bio-based adipic acid, depending on where production and other costs come in.
TEREPHTHALATE (PET)
Verdezyne announced in June that it has partnered with Malaysian Biotechnology Corporation (BiotechCorp)
POLYAMIDES & in order to assess Malaysia for its first biochemical production facility in the Asia Pacific region. Verdezyne
INTERMEDIATES is currently producing 5-15 kg per week of bio-based adipic acid and other diacids from its pilot plant in
California using plant-based oils and their by-products such as palm fatty acids and distillates.
PROPYLENE GLYCOL
BUTANOLS
BASF has decided to extend its partial adipic acid shutdown at Ludwigshafen, Germany. The company
EPICHLOROHYDRIN
initially planned a three-month shutdown of 25% of its adipic acid capacity, but this has now been extended
1,4 BUTANEDIOL indefinitely.
SUCCINIC ACID Solvay has shut down one of its three polyamide 66 polymer lines at St Fons, France, where total capacity
is estimated at around 100 ktpa. The closure is described as temporary, but it is not hard to imagine a
FATTY ACIDS permanent shutdown in the current market.
FATTY ALCOHOLS
BASF and Solvay are both confronted by declining profitability in the polyamide business in Europe. One
GLYCEROL has reduced its production of adipic acid and the other has reduced its consumption, but since both are
partially integrated, the overall effect on the adipic acid market is unclear. Indeed, the closures introduce a
POLYLACTIC ACID (PLA) new level of complexity to an adipic acid market that was already somewhat complicated.
AGRICULTURAL SECTOR
A new carbon-credit regime took effect at the beginning of the year, so some of the deep-discounting we
FEEDSTOCK NEWS saw at the end of 2012 is no longer a feature of the market. The very lowest prices for adipic acid have
disappeared, but sellers have struggled to implement higher prices with their best customers.
ECONOMIC NEWS
CHEMICAL PROFILE UNITED STATES, WEST EUROPE & ASIA

POLYBUTYLENE SUCCINATE ADIPIC ACID CONTRACT PRICES
US Dollars per Ton
(PBS)
4000
US DDP
STUDIES W Europe
3500 DDP
CONFERENCES Asia Import
3000 CFR
ACCESS
2500
TECNON ORBICHEM
ONLINE 2000
1500
1000
500
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

FRONT PAGE Spot material is still offered at around 1500/ton ddp West Europe.
PRICE MONITOR
May prices have been confirmed with increases of 10-20/ton for some customers, based on feedstocks.
COMPANY NEWS There is no consensus view on the direction of June pricing, but the lower benzene price and weakness in
many downstream markets suggest that June prices could be lower.
PRODUCT NEWS
In Europe, PA 6,10 is becoming a popular bio-based polyamide. The 60% by weight bio-based component
MONOETHYLENE GLYCOL
of PA 6,10 is made from sebacic acid, a 10-carbon dicarboxylic acid derived from castor oils major fatty
POLYETHYLENE acid component ricinoleic acid.
TEREPHTHALATE (PET)
Producers of PA 6,10 include Arkema, Evonik, BASF, EMS-Chemie, DuPont and Solvay.
POLYAMIDES &
INTERMEDIATES Belgium-based chemical firm, Solvay, through its polyamide and intermediates business, plans to invest
in a bio-based PA 6,10 production unit at its Saint-Fons Belle-Etoile site in Lyon. Solvay has not disclosed
PROPYLENE GLYCOL capacity figures for the new production unit.
BUTANOLS Solvay is currently marketing its PA 6,10 products under the brand Technyl eXten, which was first introduced
in 2009. PA 6,10 is functionally similar to PA 6 and PA 6,6 resins but has heightened high-temperature and
EPICHLOROHYDRIN
chemical resistance as well as rigidity that put it into the category of a high-performance plastic.
1,4 BUTANEDIOL
PA 6,10 can be used in automotive applications such as in flexible fluid-transfer tubes, high-end fittings and
SUCCINIC ACID adapters for engine fuel systems.
FATTY ACIDS Asia - Petrochemical

FATTY ALCOHOLS
The Japanese domestic adipic acid demand continues to be weak from May to early June. Adipic acid
GLYCEROL demand for PA 6,6 engineering plastics and airbag yarn is stronger as car production in Japan has been
improving. However, demand for other applications such as polyurethane and adipate plasticizers is not
POLYLACTIC ACID (PLA) yet recovering. There are yet no signs for recovery within next two to three months.
AGRICULTURAL SECTOR
Looking at the Asian adipic acid export market, demand is still very weak across various countries.
FEEDSTOCK NEWS Despite the weak demand, the supply capability of adipic acid has increased in recent years mainly due
to enormous expansions in China. This led to head-to-head competition even outside the Chinese market,
ECONOMIC NEWS
for instance in the Taiwanese and Korean markets, leading to lower export prices. According to Japanese
CHEMICAL PROFILE sources, some Chinese adipic acid producers are now offering prices even below $1600/ton fob China
main port. As such prices are too low even for Chinese adipic acid producers, they are considered to
be rock-bottom prices and no further serious price erosion appears to be likely unless there are significant
(PBS) changes in basic feedstock prices. However, there is as yet no sign for the price correction in the next two
to three months as the demand is expected to be very slow in the meantime.
STUDIES
CONFERENCES In the past, the major supplying countries in Asia (outside China mainland) were South Korea, Singapore
and to a lesser extent Japan as local suppliers. In addition, the US and EU are major supplying countries
ACCESS depending on destinations. Such a basic supply structure started to change significantly from 2011/2012
TECNON ORBICHEM and the change is going to accelerate in 2013. Singapore has almost disappeared from the merchant
market in 2013. The shift to Chinese products is a clear trend despite still existing quality differences.
ONLINE
As regards adipic acid imports into Japan, the most serious problem for the importers at the moment is
the very rapid depreciation of Yen, which means tremendous increases in the import cost. Importers are
seriously concerned over increasing the domestic selling prices.
Chinese adipic acid demand remained weak in May and the first half of June. Entering June, the demand
for polyurethane resin decreased further, as summer is the traditional off-season. This coupled with the
economic recession left the polyurethane resin market in June weaker than May. Synthetic leather resin and
shoe sole resin prices decreased Rmb300/ton and Rmb1000/ton in early June. In the first half of June,
polyurethane resin producers further decreased their operating rates from May due to the softened market.
Synthetic leather resin producers were running on average at 40%, while the shoe sole resin producers

FRONT PAGE
CHINESE EXPORTS
PRICE MONITOR ADIPIC ACID
April 2013 Jan-Apr 13 Jan-Apr 12
Italy 418 1,654 1,087 578
PRODUCT NEWS Turkey 329 1,611 329 -
India 711 1,856 1,528 819
ETHYLENE & POLYETHYLENE Indonesia 191 1,862 478 303
Singapore 3,780 1,824 10,216 867
MONOETHYLENE GLYCOL Thailand 1,314 1,679 2,774 542
Vietnam 158 1,931 264 350
POLYETHYLENE South Korea 989 1,766 6,215 3,795
Taiwan 2,446 1,741 6,593 1,443
TEREPHTHALATE (PET) Japan 438 1,943 1,715 1,174
Others 397 1,951 2,088 2,882
POLYAMIDES & Total 11,171 33,287 12,753
INTERMEDIATES $/ton figures are calculated from customs data and may not reflect market prices
PROPYLENE GLYCOL CHINESE IMPORTS

ADIPIC ACID
BUTANOLS
Tons $/Ton Tons Tons
EPICHLOROHYDRIN
Germany 431 1,849 1,559 1,569
1,4 BUTANEDIOL Ukraine - - - 4,355
Singapore - - - 1,458
South Korea 1,654 2,035 6,014 7,427
SUCCINIC ACID
Japan 155 2,537 558 1,471
Others 28 3,608 144 209
FATTY ACIDS
Total 2,268 8,275 16,489
FATTY ALCOHOLS $/ton figures are calculated from customs data and may not reflect market prices
GLYCEROL
decreased operating rates to 40-50% on average. The polyamide 66 polymer market, the other major
POLYLACTIC ACID (PLA) application for adipic acid, remained weak in May and early June.
AGRICULTURAL SECTOR
Spot adipic acid prices saw a further decrease of Rmb200-400/ton from early May to early June, down to
FEEDSTOCK NEWS Rmb10800-12300/ton on a cash basis in early June, the high side price is Liaoyang Petrochemical cargoes,
with a Rmb200/ton drop in the past month. The low side price is for other domestic cargoes, which decreased
ECONOMIC NEWS
more than high-quality cargoes. Some Shandong producers even quoted at Rmb10600-10700/ton.
CHEMICAL PROFILE
The May contract for adipic acid settled down in a range of Rmb11200-12600/ton delivered, L/C basis,
with the high-end price unchanged and a decrease of Rmb450/ton in the low-end price, compared to the
(PBS) settling prices of April. The listing prices in June from Liaoyang Petrochemical and Xinjiang Dushanzi Tianli,
which both belong to China National Petroleum Corporation, decreased Rmb300/ton compared to their
STUDIES
settling price in May. The other producers listing prices in June remained the same as their settling prices
CONFERENCES in May. June contract prices are listed in a range of Rmb11200-12300/ton provisionally, with Liaoyang
Petrochemical at Rmb12300/ton and the others at Rmb11200-11500/ton.
ACCESS
TECNON ORBICHEM Most adipic acid producers are running at a loss. Though the benzene prices decreased Rmb400-450/
ton in May and remained stable at Rmb8900-9050/ton in early June, the adipic acid prices decreased
ONLINE
accordingly. The loss of margin forced adipic acid producers to operate at a reduced rate at around 49%
on average in the first half of June. Some producers shut down operations in June or have maintenance plan
in July, but it this will not support the market as the market supply is sufficient for the weak demand. Domestic
prices are expected to further drop by Rmb100-200/ton in the second half of June.
As far as production goes, Liaoyang Petrochemical was running one 70 ktpa line normally in June, and this
line will shut down in July for around 2-3 months maintenance; the other 70 ktpa line was still closed, currently
this plant mainly supplies export orders. Shandong Hongye restarted one 70 ktpa unit on 3 June and the other
70 ktpa line remained shut; Shandong Hualu Hengsheng was running one 80 ktpa line at 220 tons per day.
The two adipic acid lines (150 ktpa capacity each) in Shandong Hailis Jiangsu plant were both shut down for
maintenance on 1 June and the turnaround will last for around 15-20days. Shandong Hailis Shandong plant

FRONT PAGE has been running one 75 ktpa line. Dushanzi Tianlis 75 ktpa line is running at 70-80%. Zhejiang Shuyang
Chemical is planning to start up the new 80 ktpa adipic acid unit in July.
PRICE MONITOR
COMPANY NEWS In the second week of June, the export price was quoted at $1620-1790/ton FOB China while the import
price was quoted at $1800-1900/ton CIF China. With the domestic prices going down, the import prices
PRODUCT NEWS were also forced to fall by $50-80/ton compared to mid-May.
ETHYLENE & POLYETHYLENE In April, China exported 11,172 tons adipic acid, 16.54% up from March, and the total export volume
from January to April was 33,287 tons, 161% up from the same period in 2012. The import in April was
MONOETHYLENE GLYCOL
2,268 tons, 17% increase from March, and the total import volume from January to April was 8,275 tons,
POLYETHYLENE 49.82% drop year on year. China has become a net exporter since 2012.
TEREPHTHALATE (PET)
Asia - Bio-based
POLYAMIDES &
INTERMEDIATES Specialty chemicals firm, Arkema, has acquired a 25% stake in castor oil producer, Ihsedu Agrochem, a
subsidiary of major Indian castor oil and derivatives producer, Jayant Agrochem.
PROPYLENE GLYCOL
According to Arkema, the joint venture with Jayant Agro is in line with its strategy to secure supply of a key
BUTANOLS raw material in order to support the development of its bio-polyamides in fast-growing applications such as
materials for lighter vehicles and in oil and gas extraction.
EPICHLOROHYDRIN
1,4 BUTANEDIOL Arkema is the only producer of PA11 that uses the castor oil-based monomer 11-aminoundecanoic acid
as feedstock. Arkemas PA11 is marketed under the tradename Rilsan 11. The company also produces
SUCCINIC ACID PA10 made with sebacic acid under the brand Hiprolon.
FATTY ACIDS Sebacic acid prices are highly dependent on castor oil prices. Castor oil prices within the past few months
were pegged at around $1500/metric ton, the lowest in four years and down from a February 2011 peak
FATTY ALCOHOLS
of $2750 per metric ton.
GLYCEROL
Export values of sebacic acid and derivatives from China between January and March 2013 were
POLYLACTIC ACID (PLA) estimated at a range of $3500/ton to $5000/ton. Prices for PA 6,6 engineering resins in China are at
around $2800/ton cfr China, currently. Prices for PA 10,10 are said to be at least twice the price of PA
AGRICULTURAL SECTOR
6,6 but details are not available at this point. (There is no bio-based PA 6,6 yet)
FEEDSTOCK NEWS
China: Export Of Azelaic And Sebacic Acid In Key Markets April 2013
ECONOMIC NEWS
(Metric Tons)
CHEMICAL PROFILE
Country April 2013 Jan-Apr 2012 Jan-Apr 2013
Netherlands 617 2658 2865
(PBS) U.S. 712 2442 2423
Japan 617 1786 1836
STUDIES
Italy 320 2251 1186
CONFERENCES Germany 308 467 1039
France 244 784 785
ACCESS Belgium 182 631 460
TECNON ORBICHEM South Korea 115 443 494
World Total 3527 13361 12725
ONLINE
Source: China Customs

FRONT PAGE PROPYLENE GLYCOL

PRICE MONITOR
COMPANY NEWS
Demand in the monopropylene glycol sector in North America has remained largely flat this month. Industrial
PRODUCT NEWS grade MPG is on the long side due to the sluggish performance of some end use markets. The UPR market for
example was steady in May with a small uptick in demand but no significant improvement. The pipe market is
ETHYLENE & POLYETHYLENE still the strongest downstream sector for UPR but construction should be picking up further this month.
MONOETHYLENE GLYCOL
USP grade MPG demand remains steady, with its main applications being fragrances, flavours and
POLYETHYLENE pharmaceuticals which are less subject to fluctuation.
TEREPHTHALATE (PET)
One MPG producer has recently announced a price increase of 3c/lb effective 1 July for off-list customers
POLYAMIDES & in North and South America. This is based on price increases in feedstock markets.
INTERMEDIATES
Buyers have noted a decline in price over the past two months, based on the drop in feedstock prices, and
PROPYLENE GLYCOL there are some who expect to see a potential further decline of perhaps up to 5 cents in the coming month.
Clearly producers are keen to counteract any further slippage in price. It is possible that the two opposing
BUTANOLS views could result in a rollover price for July.
EPICHLOROHYDRIN
Propylene fell by 5c/lb in May contract negotiations. Subsequently, there have been nominations of an increase
1,4 BUTANEDIOL of 2-3c/lb for June, and initial indications show that propylene contracts have settled up by 2c/lb.
SUCCINIC ACID The price monitor for May has been adjusted to reflect the outcome of price discussions which has been
confirmed at a decrease of 4-6c/lb. June has also seen a further decrease in monthly pricing of a similar
FATTY ACIDS amount, resulting in price for June of 74-87c/lb.
FATTY ALCOHOLS
GLYCEROL
The US refined glycerine price has steadily increased since December 2011, driven by healthy demand
POLYLACTIC ACID (PLA) and tightening supply. The glycerine contract price is currently quoted at around $1000/ton fob, compared
to around $900/ton seen in mid-2011.
AGRICULTURAL SECTOR
FEEDSTOCK NEWS Soft demand from the de-icing sector combined with high refined glycerine prices and competitive petroleum-
based mono propylene glycol (MPG) prices have narrowed margins for bio-based MPG.
ECONOMIC NEWS
CHEMICAL PROFILE Archer Daniels Midland (ADM) is the only producer of bio-based MPG in the US with a capacity of 100 ktpa
located in Decatur, Illinois. ADM produces both industrial grade and USP grade using refined glycerine as
a feedstock, although the company has said it can also use corn-based sorbitol as raw material.
(PBS)
DuPont Tate & Lyle Bioproducts is currently offering its bio-based 1,3 propanediol (PDO), Susterra, as an
STUDIES
alternative to MPG in heat transfer fluid applications. BioAmber is also offering heat transfer fluids and
CONFERENCES coolants that use its bio-based succinic acid material under the trademark Bio-SA.
ACCESS West Europe - Petrochemical

TECNON ORBICHEM
The European MPG market has stabilised this month, with the small increase in feedstock propylene going
ONLINE
some way to halting the downtrend in MPG pricing. The average price range for MPG industrial grade this
month is pegged within a fairly narrow range at 1170-1200/ton. There are some prices reported below
the 1170/ton level and also some pricing at about 1210-1220/ton, although these are not considered
representative of the majority of current business.
As far as demand goes, the main downstream sector, UPR is at its seasonal peak, with offtake in the
construction sector showing some improvement. Although the building season was slower to start this year
as a result of the extended winter weather, May and June have seen a reasonable pick up. However, this
market is still not performing strongly in Europe, although growth is seen in Turkey and the Middle East.

FRONT PAGE
UNITED STATES & WEST EUROPE
PRICE MONITOR PROPYLENE GLYCOL PRICES
US Dollars per Ton
COMPANY NEWS 2750
US Contract
EXW
PRODUCT NEWS 2500 WE Contract
DDP
MONOETHYLENE GLYCOL 2000
POLYETHYLENE
1750
TEREPHTHALATE (PET)
1500
POLYAMIDES &
INTERMEDIATES 1250
BUTANOLS 750
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
EPICHLOROHYDRIN
1,4 BUTANEDIOL
SUCCINIC ACID Demand for USP grade is steady, with key downstream markets food and pharmaceuticals remaining
consistent, and some improvements seen in use of liquid detergents.
FATTY ACIDS
The MPG market is well supplied. Dow took a maintenance shutdown for approximately two weeks, with
FATTY ALCOHOLS
the plant having reopened by Monday 10 June. Stocks had been built prior to the planned shutdown and
GLYCEROL this has therefore minimised the effect on overall product availability.
POLYLACTIC ACID (PLA) It is likely that prices will remain fairly steady in July, although this depends to some extent on the movement
of propylene pricing.
AGRICULTURAL SECTOR
FEEDSTOCK NEWS West Europe - Bio-based
ECONOMIC NEWS
Contract glycerine prices in Northwest Europe rose to between 700/ton and 800/ton in late 2012
CHEMICAL PROFILE to early 2013, compared to the price range of 450-650/ton seen in 2011. Current second quarter
glycerine contract prices, however, have fallen to 570-650/ton.
(PBS) A high price for refined glycerine in Europe has led to reports of Oleon suspending its bio-based MPG production
at its 20 ktpa facility in Ertvelde, Belgium, between November 2012 and the first quarter of 2013. Selling the
STUDIES
feedstock glycerine was more attractive to Oleon than taking the extra step to convert it to MPG.
CONFERENCES
Oleon started producing bio-based MPG last year in July after converting a former fatty alcohol plant at the
ACCESS Ertvelde site. The bio-based MPG process has been developed and licensed by BASF in collaboration with
TECNON ORBICHEM Oleon. BASF also supplies the catalysts for the plant.
ONLINE
Asia - Bio-based
Hong Kong-based Global Bio-chem Technology Group Co. Ltd. reported in its annual earnings review that
the average selling price for its bio-based MPG for 2012 declined by 13% year-on-year.
Global Bio-chem reported that 54% of its bio-based polyol prices are usually accounted for by raw material
costs. The average corn cost in China for most of 2012 and early 2013 is up 7% year-on-year, according
to Global Bio-chem. The corn price in northeast China for the first quarter of 2013 was estimated at
Rmb2,370/ton ($386/ton), including VAT.

FRONT PAGE The company believes corn prices will start to come down with better global corn supply this year. Sorbitol
is commercially produced by the hydrogenation of glucose from the starch fraction of the corn kernel. The
PRICE MONITOR
sorbitol price in Asia Pacific this year is quoted around $640-$650/ton.
COMPANY NEWS
The company resumed production of its sorbitol-based MPG in October 2012 after relocating its 200 ktpa
PRODUCT NEWS glycol plant from Changchun to Xinglongshan, China. Global Bio-chem halted production of bio-based
MPG in Changchun in September 2011.
The current utilization rate for bio-based MPG in Xinglongshan, however, is placed at 60% as high corn
MONOETHYLENE GLYCOL
prices and low oil prices made bio-based MPG less competitive.
POLYETHYLENE
Global Bio-chem said it plans to expand its bio-based polyol chemical production in Xinglongshan by an
TEREPHTHALATE (PET)
additional 500 ktpa capacity, depending on market performance for its bio-based MPG. The company
POLYAMIDES & has also formed a collaboration with ADM on the development of a catalyst for improving production of
INTERMEDIATES glycerine from carbohydrates in order to bring significant cost-savings and efficiencies to their production
of bio-based PG and ethylene glycol.
PROPYLENE GLYCOL
BUTANOLS
BUTANOLS
EPICHLOROHYDRIN
1,4 BUTANEDIOL Demand in the US n-butanol market remains healthy. Some supplier sources are reporting an increasing
number of enquiries, partly due to the knock-on effect of tightening supply in other regions, with several plants
SUCCINIC ACID going through or preparing for turnarounds in West Europe. The market is understood to be balanced-to-
tight. In June, n-butanol prices have rolled over and n-butanol accounts consuming a few million pounds
FATTY ACIDS annually are heard to be paying about 106-107 c/lb, with those taking less than 1 mmlbs/year at around
112 c/lb or slightly below.
FATTY ALCOHOLS
GLYCEROL North America - Bio-based
POLYLACTIC ACID (PLA) Gevo started producing bio-iso butanol again in June but operating rates and volume produced will depend
on corn prices, oil prices and iso butanol prices this year. The company produced roughly 150,000
AGRICULTURAL SECTOR
gallons of crude bio-iso butanol last year to carry over contractual commitments to its customers for this year
FEEDSTOCK NEWS until it starts up the Luverne plant again.
ECONOMIC NEWS
Gevos 18m gal/year (55 ktpa) bio-iso butanol production in Luverne, Minnesota, has been shut down
CHEMICAL PROFILE since the fourth quarter of 2012, as the company reported sterilization issues as well as the need to
maximize cash flow. The facility has the flexibility of producing quantities of corn-based iso butanol and
ethanol depending on the demand. Gevo stopped producing bio ethanol last year stating the reason as
(PBS) high US corn prices as a result of the drought.
STUDIES
Mid-west corn prices in September 2012 were at a record high of $7.70/bushel, according to the USDA.
CONFERENCES Prices this year are gradually coming down from $7.17/bushel in January to $6.83/bushel in May
2013.
ACCESS
TECNON ORBICHEM Gevo said its goal this year is to produce consistent quantities and quality of bio-iso butanol at economically
viable rates. The petroleum-based contract iso butanol price in May was around $2,900/ton, US Gulf.
ONLINE
Early this year, Gevo signed a supply deal with the US Army to sell up to 15,000 gallons of renewable jet
fuel from bio-iso butanol and late last year, the Department of Defense ordered 45,000 gallons of the same
jet fuel. Gevo has already been contracted to deliver 3,650 gallons of renewable jet fuel in the second
quarter of 2013 to the US Army at a fixed price of $59/gal.
Gevo is currently the sole commercial producer of bio-iso butanol worldwide. Butamax Advanced Biofuels,
the joint venture between DuPont and BP, is producing bio-iso butanol at its 30 ktpa demonstration plant in
Hull, UK, mostly for customer testing in biofuel applications. Butamaxs business model is to offer retrofitting
of current ethanol facilities with its proprietary bio butanol technology to improve plant profitability.

FRONT PAGE Butamax expects its first retrofitted ethanol plant in the US to start commercial production of bio-iso butanol
in 2014 with a nameplate capacity of 50 million gal/year.
PRICE MONITOR
COMPANY NEWS West Europe - Petrochemical
PRODUCT NEWS In West Europe, availability in the n-butanol market is heard to be snug with some sources reporting supply
has been tightening in June as a number of plants are going through or preparing for shutdowns during
ETHYLENE & POLYETHYLENE this month. On the other hand, demand has seen some seasonal improvement in the past month, although
other sources are still reporting lower-than expected volumes. Looking at pricing, as propylene prices have
MONOETHYLENE GLYCOL
moved up by 15/ton to settle at 1040/ton in June, formula prices linked with propylene have risen by
POLYETHYLENE around 10/ton. For spot tanktruck prices, supplier sources are reporting more competition and prices
have been assessed in the range of 1110-1160/ton.
TEREPHTHALATE (PET)
POLYAMIDES & West Europe - Bio-based

INTERMEDIATES
Spain-based Abengoa Bioenergy announced early this year that it is planning to enter the bio-based
PROPYLENE GLYCOL n-butanol market with a catalytic conversion technology that it has been developing. The Abengoa
technology involves catalytic condensation of ethanol to produce butanol through the Guerbet reaction.
BUTANOLS The company said its patented catalyst allows cost-competitive manufacture of bio butanol from ethanol.
EPICHLOROHYDRIN
The petroleum-based n-butanol contract price in Europe for May was estimated at 1100/ton. The spot
1,4 BUTANEDIOL range is reported at 1100-1150/ton.
SUCCINIC ACID Abengoa currently has several corn-based ethanol facilities running in the US and Europe. The company
said it plans to retrofit two of its ethanol plants to produce bio-based n-butanol without having to halt
FATTY ACIDS the ethanol production process. Abengoa did not disclose specific ethanol plants being targeted for
conversion.
FATTY ALCOHOLS
GLYCEROL Other companies working on the development of bio-based n-butanol in Europe include UK-based Green
Biologics, France-based METabolic EXplorer, Germany-based Butalco, and Celtic Renewables based in
POLYLACTIC ACID (PLA) Scotland.
AGRICULTURAL SECTOR
Green Biologics has partnered with China-based Laihe Rockley for demonstration production of bio-based
FEEDSTOCK NEWS n-butanol that uses cellulosic feedstock at Laihe Rockleys 150 ktpa facility in Jilin. Late last year, Green
Biologics said it was able to produce and export 55 tons of bio-based n-butanol from Jilin mostly for testing
ECONOMIC NEWS
purposes.
CHEMICAL PROFILE
METabolic EXplorer announced in March that it has suspended its development of bio-based n-butanol
because of discontinued funding from a European-based program called Bio2Chem.
(PBS)
China - Petrochemical
STUDIES
CONFERENCES In China, dragged down by sluggish downstream demand and fierce price competition amongst domestic
producers, n-butanol ex-work prices have slumped by Rmb1000/ton to the range of Rmb8600-8900/
ACCESS ton (netback to cif import prices at $1131-1170/ton) some producers are willing to be more flexible to
TECNON ORBICHEM finalise deals . Spot prices in eastern China have also tumbled 8% compared to last month and have been
assessed in the range of Rmb9200-9300/ton (netback to cif import prices at $1210-1223/ton).
ONLINE
China - Bio-based
It was reported late last year that the operating rate for the 100 ktpa Cathay Industrial Biotech bio-based
n-butanol facility in Jilin Province, China, is very low and even that the company has suspended production
due to high corn prices. An update has not yet been available this month.
According to Green Biologics, Chinas existing bio-based n-butanol capacity exceeds 300 ktpa spread
over six major sites and a number of smaller facilities across China. Unfortunately, most of the facilities are
either idled or operating at low rates because of high feedstock prices.

FRONT PAGE
CHINESE IMPORTS
PRICE MONITOR N-BUTANOL
United States 2,674 1,498 12,660 49,756
PRODUCT NEWS France - - 1,014 1,550
Germany 81 1,570 18,622 10,151
ETHYLENE & POLYETHYLENE Russia 11,874 1,437 34,501 31,814
South Africa 1,191 1,295 8,277 16,355
MONOETHYLENE GLYCOL Malaysia 4,160 1,555 14,613 26,146
Singapore 2,001 1,535 11,002 7,996
POLYETHYLENE Taiwan 19,721 1,508 46,483 49,158
Japan 945 1,518 9,645 3,744
TEREPHTHALATE (PET) Others - - 1,350 801
Total 42,647 158,167 197,471
POLYAMIDES & $/ton figures are calculated from customs data and may not reflect market prices
INTERMEDIATES
PROPYLENE GLYCOL CHINESE IMPORTS

N-BUTANOL
BUTANOLS
(1,000 Metric Tons)
EPICHLOROHYDRIN Month 2011 2012 2013 2012 2013
$/ton $/ton
1,4 BUTANEDIOL Jan 52.9 56.2 38.9 1,252 1,424
Feb 43.4 52.5 36.4 1,283 1,456
SUCCINIC ACID Mar 51.4 39.9 40.2 1,301 1,501
Apr 35.4 48.9 42.6 1,389 1,488
FATTY ACIDS May 39.1 37.6 - 1,394 -
Jun 30.2 24.7 - 1,401 -
FATTY ALCOHOLS Jul 43.3 23.9 - 1,284 -
Aug 30.6 34.1 - 1,267 -
GLYCEROL Sep 34.7 52.2 - 1,326 -
Oct 31.2 40.8 - 1,365 -
POLYLACTIC ACID (PLA) Nov 48.0 38.8 - 1,397 -
Dec 51.1 39.1 - 1,430 -
AGRICULTURAL SECTOR Jan-Apr 183.1 197.5 158.2 1,304 1,468
% Change (12.9) 7.9 (19.9) (21.5) 12.6
FEEDSTOCK NEWS
Jan-Dec 491.2 488.8
ECONOMIC NEWS % Change (21.2) (0.5)
$/ton figures are calculated from customs data and may not reflect market prices
CHEMICAL PROFILE
In September 2012, corn prices in China reached a high of $10/bushel. The corn price in northeast
(PBS) China for the first quarter of 2013 was estimated at Rmb2,370/ton ($386/ton), including VAT. [For corn
(maize), 1 bushel = 56 lbs or 25.4 kg]
STUDIES
CONFERENCES Domestic prices for petroleum-based n-butanol in China have been softening due to weak demand this year
and are estimated in the range of Rmb10000-10100/ton ddp eastern China for the month of May.
ACCESS
TECNON ORBICHEM Green Biologics currently has three different production contracts in China but its partner Laihe Rockley was
the only one that was able to produce bio-based n-butanol using corn waste for Green Biologics.
ONLINE
Laihe Rockleys first batch of waste-based n-butanol amounting to 55 tons was exported to the USA on 26
September 2012. The production was more for testing purposes rather than selling volume, according to
Green Biologics. The biomass-based acetone-butanol-ethanol (ABE) production process has a capacity of
40 ktpa and started operations on 5 June 2012.
Green Biologics is hoping to see additional volume of its waste-based n-butanol from the Jilin plant this year
but, given high corn feedstock and logistics costs, the company is also looking into producing cellulosic
n-butanol in the US or Brazil. Cathay Industrial Biotech is currently developing the use of corn waste for
feedstock but production is still at the pilot stage.

FRONT PAGE EPICHLOROHYDRIN

PRICE MONITOR
COMPANY NEWS
Prices in the US were more or less stable, although some did come down slightly, by 0.5-1.0 c/lb due to
PRODUCT NEWS the drop of 1.0 c/lb in the propylene contract price. However, demand appears to be faltering somewhat
and there is increased competition on epoxy resins from imported product, predominantly from South
ETHYLENE & POLYETHYLENE Korea. Thus, since the epoxy resin prices dropped this month by some 2-4 c/lb and an oversupply exists
from domestic output and imports, then pressure is on ECH prices to fall next month, irrespective of what
MONOETHYLENE GLYCOL
propylene will do.
POLYETHYLENE
TEREPHTHALATE (PET)
POLYAMIDES & Supplies remained very tight as inventories were extremely low after all the plant turnarounds in April/
May. Demand for epoxy resins picked up into the month, but then softened slightly and it seems the import
INTERMEDIATES
competition is hotting up with increased offers from Asia. The propylene contract price decrease of 80/
PROPYLENE GLYCOL ton meant that the C3-related contract level came down by 55/ton.
BUTANOLS West Europe - Bio-based

EPICHLOROHYDRIN
Dutch specialty chemical firm, AkzoNobel, recently signed a deal with Belgium-based chemical group
1,4 BUTANEDIOL Solvay for the supply of refined glycerine-based ECH between 2013 and 2016. Under the deal,
AkzoNobel will guarantee to buy volumes of glycerine-based ECH indirectly via the epoxy resins it
SUCCINIC ACID purchases from Solvays customers. Solvays glycerine-to-ECH process technology is marketed under
the trademark Epicerol.
FATTY ACIDS
AkzoNobel said it will progressively increase the use of Epicerol-based ECH, which is already contained
FATTY ALCOHOLS
in many of the companys resins for its coatings products. By 2016, AkzoNobel aimed to source 20% of
GLYCEROL its total ECH demand as bio-based material.
POLYLACTIC ACID (PLA) Solvay currently has a 20 ktpa Epicerol-based production at Tavaux, France, and a 100 ktpa operation
in Map Ta Phut, Thailand, operated by its affiliate Vinythai. The Tavaux facility consumes 22 ktpa of refined
AGRICULTURAL SECTOR
glycerine sourced from Europe, and the Map Ta Phut facility consumes 110 ktpa of refined glycerine,
FEEDSTOCK NEWS contracted in Asia.
ECONOMIC NEWS
CHEMICAL PROFILE UNITED STATES, WEST EUROPE & ASIA

EPICHLOROHYDRIN PRICES
US Dollars per Ton
(PBS) 3500
US Contract
STUDIES DDP
WE Contract
3000
CONFERENCES DDP
Asia Contract
CFR
ACCESS 2500
TECNON ORBICHEM
ONLINE 2000
1500
1000
500
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

FRONT PAGE Asia - Petrochemical

PRICE MONITOR
Prices in China went up during the month, mainly because of the increased propylene price. The transaction
COMPANY NEWS price in eastern China is in the range from Rmb9800/ton to Rmb 9900/ton EXW. Jiangsu Haili is going to
shut down for maintenance at the end of June, thus it raised prices higher, quoting Rmb10700-11000/ton
PRODUCT NEWS EXW to contract customers. However, demand has weakened further this month. Producers are still facing
the situation of losing money and thus operating rates have been cut back to 40-50%. The spot import
ETHYLENE & POLYETHYLENE prices went up by some $100/ton to $1550-1600/ton CFR, but consumers are pushing for $1500/ton
and below. Samsung brought back its plant in South Korea at the end of April and is running it now at
MONOETHYLENE GLYCOL
60% rate.
POLYETHYLENE
China - Bio-based
TEREPHTHALATE (PET)
POLYAMIDES & Glycerol-based ECH market is considered matured in China. There are currently around six Chinese
companies producing ECH via glycerol technology operating at stable rates with comparatively big
INTERMEDIATES
capacity ranging between 10 ktpa and 100 ktpa. There are also smaller Chinese producers but their
PROPYLENE GLYCOL operating status are not stable.
BUTANOLS Solvay is currently constructing its 100 ktpa Epicerol plant in Taixing, China, that will be operated by
Vinythai. The plant is expected to be operational in the second half of 2014. There were other planned
EPICHLOROHYDRIN
capacity announcements in Asia within the past 2-3 years but industry sources reported that these plans
1,4 BUTANEDIOL have been postponed either because of petroleum-based ECH overcapacity in the region or increasing
high costs of refined glycerine feedstock.
SUCCINIC ACID
An industry source also indicated that glycerol-based ECH price is currently comparable with petroleum-
FATTY ACIDS based ECH price.
FATTY ALCOHOLS
1,4-BUTANEDIOL
GLYCEROL
1,4-Butanediol market fundamentals in North America remain consistent from May to June. The PBT
AGRICULTURAL SECTOR
sector continues to benefit from the recovery of the automotive sector in the US, with BDO volume into this
FEEDSTOCK NEWS sector above that of last year. May proved to be a strong month for automotive sales in North America,
according to figures from Autodata. Car and truck sales rose by 8% in May, which was above forecast.
ECONOMIC NEWS
CHEMICAL PROFILE Other key downstream sectors such as PTMEG, thermoplastic polyurethanes and cast elastomers are steady
this month, with performance overall this quarter having remained stable.
(PBS) Thoughts are turning towards the third quarter contract, although discussions have yet to get underway.
Buyers say they are looking to achieve a decrease for BDO contract prices in quarter three from the price
STUDIES
in the second quarter of 141-154c/lb. The reason behind this, they say, is the fact that there is a wide gap
CONFERENCES between US and Asian prices, and this situation is likely to result in US derivative producers becoming less
competitive in a global arena. The upcoming increase in BDO capacity in Asia along with the stagnant
ACCESS market demand in China has left the Asian market weakened and the second half of the year is expected
TECNON ORBICHEM to present some challenges.
ONLINE
US producers have yet to voice any price ideas for the quarter. However, it is likely that they will look
to prevent margin erosion by keeping any price decreases to a minimum. The domestic market supply
situation is balanced, as it has been through the first half of the year.
BASF announced last month plans to produce 1,4-butanediol based on renewable feedstock using
Genomaticas patented process which uses sugars as a renewable feedstock. The agreement allows BASF
to build a world-scale plant using Genomaticas process technology. BASF will have renewable BDO
available in the second half of this year for sampling and product trials.

FRONT PAGE
UNITED STATES & WEST EUROPE
PRICE MONITOR 1,4-BUTANEDIOL CONTRACT PRICES
US Dollars per Ton
COMPANY NEWS 4500
United States
DDP
PRODUCT NEWS 4000 W Europe
DDP
MONOETHYLENE GLYCOL 3000
POLYETHYLENE 2500
TEREPHTHALATE (PET)
2000
POLYAMIDES &
INTERMEDIATES 1500
BUTANOLS 500
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
EPICHLOROHYDRIN
1,4 BUTANEDIOL
SUCCINIC ACID As far as bio-based economics are concerned, Genomatica claims that its bio-BDO is competitive with
current petroleum-based BDO prices of around 141c/lb.
FATTY ACIDS
Genomatica and DuPont Tate & Lyle Bio Products started commercial production of bio-1,4 BDO in late
FATTY ALCOHOLS
2012 at DT&Ls Loudon, Tennessee, facility. In a span of five weeks, the companies produced over 2,000
GLYCEROL metric tons of BDO by direct fermentation using dextrose sugar supplied by DT&L. This is an equivalent
run-rate of over 23 ktpa.
The US dextrose price in Midwest markets was stable at around 35c/lb, dry weight, between December
AGRICULTURAL SECTOR
2012 and May 2013. This is the Wholesale list price for dextrose sugar according to the US Department
FEEDSTOCK NEWS of Agriculture (USDA) Economic Research Service (ERS). Sugar is a significant component of variable cost
in a bio-based BDO process.
ECONOMIC NEWS
CHEMICAL PROFILE Genomatica is the first company to commercially produce bio-based 1,4 BDO. The company reports that
the products from the Loudon facility have been delivered for customer testing.
(PBS) BioAmber, a US-based bio-based succinic acid producer, plans to start up a bio-based 1,4 BDO toll
manufacturing plant in the US in late 2014 for consumer sampling, which would have a capacity to
STUDIES
produce 2-4 ktpa. The company is identifying several companies that have the infrastructure, know-
CONFERENCES how and purification equipment needed to convert their bio-succinic acid to bio-based BDO on a toll
manufacturing basis.
ACCESS
TECNON ORBICHEM BioAmber plans to design and install a proprietary hydrogenation reactor at the selected toll manufacturer, to
provide a catalyst produced by its partner Evonik, and to supply the toll manufacturer with bio-succinic acid,
ONLINE
produced initially at its Lestrem, France, demonstration facility, and subsequently in Sarnia, Ontario, where a 30
ktpa bio-succinic acid facility is being built and which is expected to start operations in 2014.
BDO market players are beginning to speculate on the direction of contract prices in the third quarter.
Although price discussions have not yet begun in earnest, there is a strong expectation amongst some
players that the European price will move down in the third quarter, partially as a result of the increase
of capacity coming on stream in Asia, but also due to the wide gap between price level in Asia and in
Europe. Some expect that the main threat to market stability in Europe may come from the importing of
BDO derivatives from Asia into Europe rather than the importing of the raw material BDO into Europe.

FRONT PAGE Producers are expected to opt for a rollover position in an attempt to minimise any loss of margin. However,
at this point, no announcements have been heard. Buyers are clearly expecting to see a downward shift in
PRICE MONITOR
price for the third quarter and are likely to push hard with the argument of needing to remain competitive
COMPANY NEWS with their Asian counterparts. The current price level for the second quarter is 2045-2150/ton.
PRODUCT NEWS Downstream, there are variations from sector to sector. The shoe sole manufacturing sector has been hampered
by the tightness of pure MDI supply after the force majeure declaration by Huntsman. This has reportedly led to
ETHYLENE & POLYETHYLENE some restriction in manufacturing capability, which will also have had an effect on BDO volume.
MONOETHYLENE GLYCOL
PBT demand remains subdued by the declining fortunes of the automotive sector in Europe. Automotive
POLYETHYLENE and electric/electronic end uses markets as well as other minor end uses markets have been hard hit
principally because of poor economic conditions in the Eurozone and manufacturers have had to scale
TEREPHTHALATE (PET)
down production levels. Therefore, demand has gradually fallen away in recent years for PBT and its
POLYAMIDES & compounds in the region too.
INTERMEDIATES
European car sales rose for the first time in 19 months in April, according to the European Automobile
PROPYLENE GLYCOL Manufacturers Association. ACEA reports it has counted on average two more working days compared
to April 2012, which, it says, would account for the increase. However, it can also be attributed to
BUTANOLS continuing strong demand in the UK (+14.8%) with the market also expanding in Germany (+3.8%) and
Spain (+10.8%) in April. Although Aprils registrations have increased by 1.7% to 1.04 million compared
EPICHLOROHYDRIN
to a year ago, new registrations in the first four months of this year are 7.1% less than the same period last
1,4 BUTANEDIOL year when 4.3 million cars were registered.
SUCCINIC ACID West Europe - Bio-based
FATTY ACIDS German specialty chemical firm, Lanxess, in partnership with US renewable chemicals company
Genomatica, announced on 25 June that Lanxess has produced biobased PBT at its 80 ktpa co-owned
FATTY ALCOHOLS
petro-based PBT production facility in Hamm-Uentrop, Germany, using 20 tons of Genomaticas BDO as a
GLYCEROL raw materials. The Hamm-Uentrop PBT facility is a 50-50 joint venture between Lanxess and DuPont.
POLYLACTIC ACID (PLA) Genomatica and Lanxess said Genomaticas bio-BDO fully complied with the Lanxess specifications for
petro-based BDO allowing a direct feed of 100% bio-based BDO into the facilitys continuous production
AGRICULTURAL SECTOR
process. The properties and the quality of the biobased PBT produced are reportedly fully equivalent to
FEEDSTOCK NEWS conventional petro-based PBT with regards to all tested parameters.
ECONOMIC NEWS
The PBT plant at Hamm-Uentrop, Germany
CHEMICAL PROFILE
(PBS)
STUDIES
CONFERENCES
ACCESS
TECNON ORBICHEM
ONLINE

FRONT PAGE Commercialized PBT is currently produced using petro-based BDO and terephthalic acid (PTA). Lanxess
currently manufactures petro-based PBT and its blends under the trademark Pocan, which is used in
PRICE MONITOR
automotive, electronics/electrical products, lighting, household appliances, sports, etc.
COMPANY NEWS
Lanxess did not disclose further future plans on when it will start producing bio-PBT or if it will start sourcing
PRODUCT NEWS bio-BDO from Genomatica for future biobased PBT production.
ETHYLENE & POLYETHYLENE German chemical company, BASF, announced in May that it has licensed the bio-based 1,4 BDO processing
technology of Genomatica, and plans to produce bio-BDO for testing in the second half of 2013.
MONOETHYLENE GLYCOL
POLYETHYLENE BASF did not disclose the location or the size of its upcoming bio-BDO production. The company is a major
manufacturer of petroleum-based BDO with facilities in Ludwigshafen, Germany; Geismar, Louisiana;
TEREPHTHALATE (PET)
Chiba, Japan: Kuantan, Malaysia; and Caojing, China. BASFs BDO production worldwide is 535 ktpa
POLYAMIDES & using conventional feedstocks.
INTERMEDIATES
It appears that BASF may construct a bio-BDO production facility with a capacity of 50 ktpa but the project
PROPYLENE GLYCOL is subject to market acceptance and demand for bio-BDO as the size of the plant would require a pre-
existing market.
BUTANOLS
BASF intends to use bio-BDO to tap markets in which the company can create additional value for their
EPICHLOROHYDRIN
customers, such as in the textile, automotive and plastics markets.
1,4 BUTANEDIOL
Genomaticas joint venture partner, bioplastic producer Novamont, is currently constructing a 20 ktpa
SUCCINIC ACID bio-BDO facility in a recently purchased amino acid facility in Adria, Italy. Novamont expects to start
operations by the end of 2013.
FATTY ACIDS
Novamont will finance the plant conversion and operate the facility. The company intends to consume the
FATTY ALCOHOLS
bio-BDO output for its own internal use as key monomer for its biopolymer products. Genomatica may
GLYCEROL purchase a portion of the production at its discretion to support further market development.
POLYLACTIC ACID (PLA) China - Petrochemical
AGRICULTURAL SECTOR
The Chinese BDO market was stagnant this month, although there is still a steady stream of buying
FEEDSTOCK NEWS enquiries. Quotations in the spot market remained firm, but numbers from some traders were heard down
by Rmb100/ton in early June. In the downstream sectors, Yizheng Chemical Fibre and Lanshan Tunhe PBT
ECONOMIC NEWS
facilities both resumed production gradually. June is traditionally a weak season for BDO in China, and this
CHEMICAL PROFILE coupled with increased BDO capacity may result in downward price pressure later in the month.
Spot BDO was priced at Rmb13800-14100/ton, with trader prices heard at anything from Rmb14000-
(PBS) 14200/ton. Drums and imports were respectively negotiated at around Rmb14800-16000/ton and
$1850-3000/ton.
STUDIES
CONFERENCES China: BDO Import Data of April 2013
ACCESS Country April 2013 Jan-Apr 2012 Jan-Apr 2013

TECNON ORBICHEM Japan 64 315 762
Holland 1260 1324 2735
ONLINE
Malaysia 670 2418 2119
South Korea 0 809 780
Taiwan Province 3048 11340 6538
U.S. 0 1050 3024
Saudi Arabia 0 5444 192
Germany 5042 17658 16150
Total 64 315 762

FRONT PAGE Asia - Bio-based

PRICE MONITOR
Japanese chemical firm, Toray, announced in April the successful production of molded partially bio-based
COMPANY NEWS polybutylene terephthalate (PBT) engineering plastic components using Genomaticas bio-BDO.
PRODUCT NEWS Toray has been working on bio-based PBT with Genomatica for more than two years and produced its
first PBT pellets made with bio-BDO samples in February 2011. Toray said the partially bio-based PBT has
ETHYLENE & POLYETHYLENE physical properties and formability equivalent to PBT made with petroleum-derived BDO.
MONOETHYLENE GLYCOL
Toray plans to produce bio-based PBT at commercial scale using Genomaticas bio-BDO process. Toray
POLYETHYLENE said it will share samples of bio-based PBT with its customers this year to help develop market demand.
Toray expects to bring products to market as soon as supplies of bio-BDO are readily available from one
TEREPHTHALATE (PET)
of Genomaticas bio-BDO licensees.
POLYAMIDES &
PBT is the second largest use for BDO accounting for around 25-30% of all BDO consumed worldwide
INTERMEDIATES
or an equivalent of 700 ktpa as PBT compound. The polymer is used in wide-ranging applications from
PROPYLENE GLYCOL automobile parts such as switches and ignition coils to electrical parts like connectors and plugs.
BUTANOLS Demand for PBT in China has remained weak in the last month and operating rates have been kept at
low levels. Shipments of PBT resin to China were reported agreed in the first week of June in the range
EPICHLOROHYDRIN
$1850-1900/ton cfr.
1,4 BUTANEDIOL
New Bio-BDO Capacity 2012-2015
SUCCINIC ACID
Company Location Capacity (ktpa) Start-Up Date
FATTY ACIDS Genomatica/Dupont
Tate & Lyle California, USA 24 (?) Q4 2012*
FATTY ALCOHOLS
Novamont Adria, Italy 16 2013*
GLYCEROL PTT/MCC Thailand 50 2014#
BioAmber/Mitsui Sarnia, Ontario, Canada 23 2015+
POLYLACTIC ACID (PLA) BioAmber/Mitsui Brazil (or North America) 50 2015+
Myriant Louisiana, USA ? ?
AGRICULTURAL SECTOR
FEEDSTOCK NEWS +from succinic acid
*Direct fermentation
ECONOMIC NEWS
#with PBS 20ktpa
CHEMICAL PROFILE
(PBS)
STUDIES
CONFERENCES
ACCESS
TECNON ORBICHEM
ONLINE

FRONT PAGE SUCCINIC ACID

PRICE MONITOR
New Bio-Succinic Acid Capacity 2012-2015
COMPANY NEWS
Company Location Capacity (ktpa) Start-Up Date
PRODUCT NEWS Reverdia Cassano Spinolo, Italy 10 Dec 2012
Myriant Louisiana, USA 14 Apr 2013
ETHYLENE & POLYETHYLENE BioAmber/Mitsui Sarnia, Ontario, Canada 17 2013
BioAmber/Mitsui Sarnia, Ontario, Canada 35e 2015
MONOETHYLENE GLYCOL
BASF Purac Barcelona, Spain 10 early 2014
POLYETHYLENE BioAmber/Mitsui Thailand 65 2014
BioAmber/Mitsui Brazil (or North America) 65 2015
TEREPHTHALATE (PET)
BASF Purac Barcelona, Spain 50e ?
POLYAMIDES & e = Expansion of existing capacity
INTERMEDIATES
PROPYLENE GLYCOL
BUTANOLS
EPICHLOROHYDRIN
1,4 BUTANEDIOL
SUCCINIC ACID
FATTY ACIDS
FATTY ALCOHOLS
GLYCEROL
AGRICULTURAL SECTOR
FEEDSTOCK NEWS
ECONOMIC NEWS
CHEMICAL PROFILE North America - Bio-based

In North America, BioAmber is building a 30 ktpa bio-succinic acid plant in Sarnia, Ontario, Canada,
(PBS) which is expected to start operating by 2014. BioAmber already operates the worlds first succinic acid plant
in Pomacle, France owned by ARD, which is under exclusive use to BioAmber through a toll manufacturing
STUDIES
agreement. As of the end of March, the plant has produced over 836 tons of bio-succinic acid since 2010
CONFERENCES and the high purity, cost competitive bio-succinic acid is available for sale. BioAmber will move production
to a global scale North American facility in 2014. The Sarnia, Ontario based plant will offer economies
ACCESS of scale and benefit from lower feedstock and utility costs than France, leading to a significant reduction in
TECNON ORBICHEM the price of BioAmbers bio-succinic acid.
ONLINE
Myriant started operation of its 14ktpa Louisiana, USA, plant in April/May 2013 and reported successful
production of on-spec bio-succinic acid in June. Myriant will focus on four primary applications: biobased
polymers, coatings, urethanes and plasticizers. Piedmont Chemical has said it will be using a combination
of bio-succinic acid from Myriant and propanediol from DuPont Tate and Lyle Bio Products to produce
renewable, sustainable polyester polyols. This renewable, 100% bio-based polyester polyol will be
available by the end of the year for urethane producers seeking green polyols for their urethane products.
BioAmber has been supplying bio-based succinic acid in France through a tolling agreement with ARD
since 2010 but large-scale commercial production only began in December 2012 with the start of the

FRONT PAGE Italian based Reverdia plant. Contrary to some observers expectations, the market for succinic acid (petro
and bio-based) overall in Europe does not seem long. The new bio-based production is targeted toward
PRICE MONITOR
downstream applications of polybutylene succinate (PBS), polyester polyols for polyurethanes, coating and
COMPANY NEWS composite resins, phthalate-free plasticizers, and 1,4 butanediol.
PRODUCT NEWS Prices for petroleum-based succinic acid are reported at around $2500/ton, but this is only a provisional
assessment and actual numbers may vary widely.
Succinity GmbH, the joint venture between BASF and Purac announced in October 2012 has been
MONOETHYLENE GLYCOL
established in June 2013. The companys 10 ktpa bio-succinic acid plant in Spain is expected to start by
POLYETHYLENE the beginning of 2014. This plant is an upgrade of an existing fermentation facility at Puracs Montmlo site.
An expansion to 50 ktpa is expected some time after 2015 but details on timing are not yet available.
TEREPHTHALATE (PET)
POLYAMIDES & Asia - Bio-based

INTERMEDIATES
BioAmber and Mitsui with joint venture projects already underway in North America, are now looking at
PROPYLENE GLYCOL Thailand as a site for future projects. A feasibility study is underway with PTT MCC (a joint venture between
PTT and Mitsubishi Chemical) with a view to starting up in 2014 and a possible capacity of 65 ktpa of
BUTANOLS succinic acid and 50 ktpa of BDO. BioAmber and Mitsui are also looking at North America or Brazil for
the location of a third plant of similar size.
EPICHLOROHYDRIN
1,4 BUTANEDIOL FATTY ACIDS

SUCCINIC ACID North America - Bio-based
FATTY ACIDS Tallow is the major feedstock used for fatty acid manufacture in North America and Europe. US animal
fats prices rose to historic highs in 2011 to reach a peak of $1180/ton and remained volatile last year
FATTY ALCOHOLS
with average prices for tallow at $960-$1030/ton. The current tallow price is at $830/ton, according
GLYCEROL to the USDA.
POLYLACTIC ACID (PLA) A major fatty acid component of tallow is stearic acid and with the volatility in tallow prices over the past
two years, stearic acid pricing has also seen similar dramatic price shifts. Prices for stearic acid have been
AGRICULTURAL SECTOR
as high as $1600/ton in mid-2011 and as low as $1400/ton in late 2012. The May 2013 contract price
FEEDSTOCK NEWS for stearic acid is quoted between $1250/ton and $1470/ton, depending on the grade.
ECONOMIC NEWS
The May contract price for oleic acid is quoted between $1740/ton and $1830/ton. Oleic acid is found
CHEMICAL PROFILE in various vegetable oils and animal fats.
The global price volatility of various fatty acid feedstocks and its corresponding fatty acid chains led to
(PBS) increasing developments on alternative fatty acid processing or new fatty acid feedstock sources from US
renewable chemical companies such as Solazyme, OPX Biotechnologies (OPXBio), and Kiverdi.
STUDIES
CONFERENCES Later this year, Solazyme will start commercial production of its algal oils that can be used as feedstock
to produce tailored fatty acid chains such as high myristic and high oleic fatty acids. For chemical
ACCESS applications, Solazyme reported costs of producing its algal oils are around $1000/ton, which contrasts
TECNON ORBICHEM with the average selling price of triglyceride oils from coconut, palm and animal fats at between $1800/
ton and $5000/ton depending on the fatty acid cuts they contain.
ONLINE
Solazyme expects its 100 ktpa algal oil plant in Moema, Brazil, to start operating in the fourth quarter
of 2013, and its 20 ktpa plant in Clinton, Iowa, operated by Archer Daniels Midland (ADM) to start
production in the first quarter of 2014.
OPXBio and Kiverdi have developed fatty acid production technologies that use gasification of biomass.
OPXBio said it can create customized fatty acid chains using carbon dioxide and hydrogen from gasified
biomass, solid waste or natural gas feedstocks. This development is still at the laboratory phase.
Kiverdi reports that its biochemical process using gasified waste and waste carbon produces high quantities
of bio-oil, which can be used as feedstock to produce C10-C18 fatty acids and fatty alcohols. The process

FRONT PAGE is modular and can be deployed locally near the source of biomass and waste gas. According to Kiverdi,
the technology is still at the pilot phase and the company is looking for partnerships in the oleochemical
PRICE MONITOR
arena.
COMPANY NEWS
PRODUCT NEWS
The expectation of price increases for palm oil and tallow is leading to firmer fatty acid price offers in
ETHYLENE & POLYETHYLENE Europe for third quarter contract negotiations. Europe is a major importer of palm-based fatty acids.
MONOETHYLENE GLYCOL
The contract palm oleic acid price in Northwest Europe for May was around 1000/ton ($1307/ton) cfr.
POLYETHYLENE The palm stearic acid price was at 950/ton, and tallow stearic acid at 940/ton.
TEREPHTHALATE (PET)
The tallow price in Northwest Europe for May was pegged at an average of $1059/ton compared to the
POLYAMIDES & low of $846/ton seen in March. The palm oil price for May in the European market was estimated at an
INTERMEDIATES average of $845/ton; palm olein at $887/ton and palm stearin at $833/ton [the triglycerides of oleic
acid and stearic acid respectively].
PROPYLENE GLYCOL
In recent news, Solazyme has partnered with Dutch specialty chemical firm AkzoNobel last month for the
BUTANOLS use of algal oil feedstock in surfactants, paints and coatings. Product development efforts are expected to
begin in the second half of 2013.
EPICHLOROHYDRIN
1,4 BUTANEDIOL Asia - Bio-based
SUCCINIC ACID Japanese chemical firm, Mitsui & Co., has announced early this year a $20 million multiyear partnership
with Solazyme to develop a suite of triglyceride oils such as high myristic algal oils
FATTY ACIDS
Palm kernel oil (PKO) and coconut oil (CNO) are the dominant sources of myristic fatty acid, typically with
FATTY ALCOHOLS
a concentration of about 15%. Solazyme said its algal oils can now contain above 60% myristic acid.
GLYCEROL Myristic acid prices in Southeast Asia fell gradually to the current $1325/ton from a historical price peak
of $4400/ton seen in April 2012.
Average domestic price of crude PKO in Malaysia last year was pegged at Myr$3249/ton ($1050/ton)
AGRICULTURAL SECTOR
while the average CNO price sourced from the Philippines and Indonesia was $1100/ton.
FEEDSTOCK NEWS
The CNO price in May was pegged at $793/ton while the PKO price in May was at $827/ton. The
ECONOMIC NEWS
Malaysian export price for palm oil in May was $786/ton fob. This is in contrast to prices one year-ago
CHEMICAL PROFILE of $1048/ton. The May export price for palm olein (the triglyceride of oleic acid) was $795/ton while
palm stearin (the triglyceride of stearic acid) was $760/ton.
(PBS) Monthly Export Prices of Processed Malaysia Palm Oil
(FOB US$/Ton)
STUDIES
CONFERENCES Palm Oil Palm Olein Palm Stearin

2012 Average 957 960 900
ACCESS Jan 13 792 802 689
TECNON ORBICHEM Feb 838 844 726
Mar 799 805 720
ONLINE
Apr 785 796 734
May 786 795 759
Source: Malaysia Palm Oil Board (MPOB)
For other fractionated fatty acids, lauric acid being the largest in the market, Southeast Asia prices for
the C12 cut were around $1400-$1450/ton fob. The C18 oleic acid price was around $1450/ton
Southeast Asia and the C18 stearic acid price was $950/ton in Southeast Asia.
The firming feedstock palm oil price is reportedly leading to consideration of price increases for most fatty
acid chains in Asia, although demand is still said to be weak especially from China, a major market for
lauric and stearic fatty acids.

FRONT PAGE In China, AkzoNobel announced in March that it has exited the merchant fatty acid business in Boxing,
closing down two out of three fatty acid plants at the site. China currently has 16 major fatty acid players
PRICE MONITOR
with a total capacity of 1.67 million tpa that account for 80% of the countrys hydrolysis capacity at 2.1
COMPANY NEWS million tpa. The remaining 20% are mainly in the area of soap manufacturing.
PRODUCT NEWS FATTY ALCOHOLS

ETHYLENE & POLYETHYLENE North America - Bio-based
MONOETHYLENE GLYCOL
Shale gas economics in North America have improved the cost position of synthetic alcohols to oleochemical
POLYETHYLENE fatty alcohols, although there has not yet been much shift in market dynamics. Shell and Sasol are currently
the only synthetic fatty alcohol producers in North America, using ethylene and gas-to-liquids chemical
TEREPHTHALATE (PET)
routes, respectively.
POLYAMIDES &
INTERMEDIATES As of last year, global capacity share of synthetic alcohols was 32% versus 68% from oleochemical-based
alcohols. A deluge of new fatty alcohol capacity mostly coming from Asia is expected to further shrink
PROPYLENE GLYCOL that market share to 26% by 2015, according to the US surfactant consulting firm, Colin A. Houston &
Associates.
BUTANOLS
The US fatty alcohols market is already bracing for the wave of around 740 ktpa global oleochemical-
EPICHLOROHYDRIN
based fatty alcohol capacity coming on this year, and around 400 ktpa over the next 2-3 years.
1,4 BUTANEDIOL
Prices for most fatty alcohols have followed the downward trend of palm oil prices over the last 4-6 quarters.
SUCCINIC ACID The price of C12-C15 alcohols has been dropping steadily to the current $1900/ton level, after reaching
a peak of $4000/ton in mid-2011. C16-C18 alcohols prices also steadily went down to the current
FATTY ACIDS $1900/ton level, after reaching a peak of $2750/ton in mid-2011.
FATTY ALCOHOLS
The historical volatility of fatty alcohols prices, driven by palm oil and animal fat price fluctuations, has led
GLYCEROL to developments of another alternative feedstock source:cellulosic sugar. US-based LS9 and Codexis have
developed processes that use fermentation-based sugar to produce alcohols that are drop-ins to replace
POLYLACTIC ACID (PLA) oleochemical-based materials.
AGRICULTURAL SECTOR
LS9 said it is planning to commercialise its sugar-based fatty alcohols next year after successfully producing
FEEDSTOCK NEWS their alcohols in a 135,000-litre scale demonstration plant in Okeechobee, Florida, since Q3 2012. The
company is currently eyeing Brazil as its first commercial location to build a 50 ktpa biorefinery preferably
ECONOMIC NEWS
near a sugarcane mill. Codexis is targeting 2015 to start commercial production with fatty alcohols as its
CHEMICAL PROFILE first product, based on the growing demand for surfactants in Latin America.
(PBS)
Like the US, Europe is a net importer of fatty alcohols as most natural fatty alcohol production is from palm
STUDIES
kernel oil feedstock and most producers of this material are located in Asia. A new competitive fatty alcohol
CONFERENCES source in Europe could be a welcome change to ease a tight market and high fatty alcohol pricing seen in
the region for the past two years.
ACCESS
TECNON ORBICHEM US-based Codexis is hoping for a slice of this demand as the company started in June its 1,500-litre
demonstration facility in Rivalta, Italy, with its partner Chemtex, an engineering and technology processing
ONLINE
firm owned by Italian chemical company M&G Group. The fatty alcohol demonstration plant will use
cellulosic sugar for feedstock.
Codexiss goal is to produce 40-60 ktpa of detergent alcohols at a future commercial facility, although
specific plans for this project have not been disclosed. According to Codexis, it will take about 3.7 tons
of cellulosic sugar derived from 7.4 tons of biomass to produce one ton of detergent alcohol. Most fatty
alcohols end up as surfactants after being sulfonated or ethoxylated.
Singapore-based Wilmar International in partnership with US surfactant producer, Huntsman, is also

expected to start production at its 150 ktpa palm-based fatty alcohol plant at Huntsmans site in Rozenburg,

FRONT PAGE Netherlands, by the end of the third quarter, 2013. The plant will supply natural alcohols to Huntsman as
well as to the European merchant market
PRICE MONITOR
COMPANY NEWS Palm plantation owners, such as Wilmar and KLK have been moving beyond fatty acid production and into
downstream businesses, such as fatty alcohols and surfactants to increase their margins.
PRODUCT NEWS
Compared to the US market, the European fatty alcohols market has seen more price swings between
ETHYLENE & POLYETHYLENE 2011 and 2013 as the region is more sensitive to palm and oleochemical import prices. C12-C24 alcohol
prices in Northwest Europe are currently around $1540/ton compared to $2400/ton seen a year-ago.
MONOETHYLENE GLYCOL
POLYETHYLENE Asia - Bio-based

TEREPHTHALATE (PET)
Announced New Fatty Alcohols Capacity for 2013
POLYAMIDES & (ktpa)
INTERMEDIATES
Producer Location Capacity
PROPYLENE GLYCOL Wilmar Netherlands 150
Jiaxiang Sanjiang China 100
BUTANOLS KLK Oleomas Malaysia 100
Musim Mas Indonesia 100
EPICHLOROHYDRIN
Bakrie Sumatra Indonesia 40
1,4 BUTANEDIOL Wilmar Indonesia 150
Pilipinas Kao Philippines 34
SUCCINIC ACID SABIC Saudi Arabia 85
FATTY ACIDS Asia accounts for 47% of the global fatty alcohols capacity as of 2012 and this market share is expected to
further increase this year to over 50% with the new capacity of around 500 ktpa coming on in the region.
FATTY ALCOHOLS
GLYCEROL Indonesias Musim Mas already started commercial production at its 100 ktpa fatty alcohol plant in Medan
in April. Wilmars 150 ktpa facility in Indonesia is expected to begin production in June. The outlook for
POLYLACTIC ACID (PLA) the Asian fatty alcohols market is for a supply glut to occur in the next 2-3 years because of the upcoming
capacity.
AGRICULTURAL SECTOR
FEEDSTOCK NEWS However, the Asian fatty alcohols market is currently experiencing firm-to-tight supply, especially in China
because of several maintenance shutdowns. At the end of April, a Chinese producer halted production
ECONOMIC NEWS
of a 220 ktpa alcohols plant due to environmental issues. Between May and July, around 160 ktpa of
CHEMICAL PROFILE capacity in China is scheduled to shut for maintenance, and around 340 ktpa is expected to be down for
turnarounds in several Southeast Asian alcohol facilities
(PBS) The average price for C12-C14 alcohols in Southeast Asia has slightly increased to the current level of
$1475/ton after bottoming out at $1310/ton in January 2013. The average price for C16-C18 cuts also
STUDIES
increased slightly to reach the current $1385/ton, up from the $1315/ton level seen in January.
CONFERENCES
GLYCEROL
ACCESS
TECNON ORBICHEM North America - Bio-based
ONLINE
The US refined glycerine (also called glycerol) price has steadily increased since December 2011, driven
by healthy demand and tightening supply. The contract glycerine price is currently quoted at around
$1000/ton fob, compared to around $900/ton seen in mid-2011. Pharmaceutical grades have a price
premium of around $300-$600/ton over vegetable oil- and tallow-based materials.
Crude glycerine spot prices have been seen between $200/ton and $300/ton within the past year.
Supply of crude product is considered ample as there are only a few refiners of crude glycerine in the US,
and crude glycerine producers are inhibited by the large capital required to build new glycerine refineries.
Most crude glycerine supply is sourced from the manufacture of biodiesel where glycerine is a co-product.

FRONT PAGE Improved demand for refined glycerine has been recently driven by the personal care sector as well as
new uses, especially as a feedstock for monopropylene glycol (MPG) and other glycol substitutes. ADM
PRICE MONITOR
is already producing refined glycerine-based MPG at its 100 ktpa facility in Decatur, Illinois (see report on
COMPANY NEWS MPG). ADM is also looking to use refined glycerine as a feedstock in the manufacture of acrylic acid. The
company says it is currently producing the material in a pilot facility.
PRODUCT NEWS
There is also a trend to develop new uses for crude glycerine materials, based on their relatively low price
ETHYLENE & POLYETHYLENE and ample availability. US renewable chemical company, Glycos Biotechnology, has developed the use
of crude glycerine to manufacture isoprene, ethanol, and acetone. France-based METabolic EXplorer is
MONOETHYLENE GLYCOL
looking to produce 1,3 propanediol (PDO) in Malaysia using crude glycerine as the feedstock.
POLYETHYLENE
US-based, Segetis, is already marketing its levulinic ketals that combines glycerol and levulinic acid for
TEREPHTHALATE (PET)
applications such as solvents and plasticizers.
POLYAMIDES &
INTERMEDIATES West Europe - Bio-based
PROPYLENE GLYCOL Contract glycerine prices in Northwest Europe rose to between 700/ton and 800/ton in late 2012 to early
2013; compared to the price range of 450-650/ton seen in 2011. Second quarter 2013 contract glycerine
BUTANOLS price fell to 570-650/ton, however, because of market uncertainty and improved supply.
EPICHLOROHYDRIN
Nevertheless, spot European vegetable glycerine prices are starting to firm, led by stronger buying interest,
1,4 BUTANEDIOL notably from the feed sector and also some interest from eastern Europe for anti-freeze applications. Lower
biodiesel production in Europe is also tightening supplies for crude glycerine.
SUCCINIC ACID
New uses for glycerine are also affecting market sentiment, although, late last year, refined glycerine
FATTY ACIDS producer Oleon suspended its bio-based MPG production at its 20 ktpa facility in Ertvelde, Belgium, in
favour of selling the feedstock glycerine, as selling at the high refined glycerine price in Europe was more
FATTY ALCOHOLS
attractive than converting it to MPG.
GLYCEROL
Dutch specialty chemical firm, AkzoNobel, recently signed a deal with Belgium-based chemical group
POLYLACTIC ACID (PLA) Solvay for the supply of refined glycerine-based epichlorohydrin (ECH) between 2013 and 2016. Under
the deal, AkzoNobel will guarantee to buy volumes of glycerine-based ECH indirectly via the epoxy resins
AGRICULTURAL SECTOR
it purchases from Solvays customers. Solvays glycerine-to-ECH process technology is marketed under the
FEEDSTOCK NEWS trademark Epicerol.
ECONOMIC NEWS
AkzoNobel said it will progressively increase the use of Epicerol-based ECH, which is already contained
CHEMICAL PROFILE in many of the companys resins for its coatings products. By 2016, AkzoNobel aimed to source 20% of
its total ECH demand as bio-based material.
(PBS) Solvay currently has a 20 ktpa Epicerol-based production at Tavaux, France, and a 100 ktpa operation in Map
Ta Phut, Thailand, operated by its affiliate Vinythai. The Tavaux facility consumes 22 ktpa of refined glycerine
STUDIES
sourced from Europe, and the Map Ta Phut facility consumes 110 ktpa of refined glycerine, contracted in Asia.
CONFERENCES
Netherlands-based bio methanol producer BioMCN has developed a process for making bio methanol
ACCESS from crude glycerine and is already producing at a 200 ktpa facility in Delfzijl. The company plans to
TECNON ORBICHEM restart the No. 2 plant at Delfzijl in 2015; initially with another 200 ktpa of bio methanol capacity and then
expanding to 400 ktpa by 2016.
ONLINE
Asia - Bio-based
Asia is becoming the epicentre of new glycerine market applications as several glycerine-based projects
have been announced, while epichlorohydrin manufacture, using refined glycerine feedstock, is already a
commercial success.
Solvays glycerine-to-ECH Epicerol process technology already consumes 110 ktpa of refined glycerine
within the Asia market. The company is currently constructing an additional 100 ktpa capacity in China,
which is expected to start operating in the second half of 2014.

FRONT PAGE 1,3 propanediol (PDO) is another market opportunity for glycerine as three companies - France-based
METabolic EXplorer; China-based Zhangjiagang Glory Biomaterial; and the Shenghong Group race to
PRICE MONITOR
compete with current bio-PDO and bio-PTT (polytrimethylene terephthalate) fibre producer, DuPont.
COMPANY NEWS
PTT is made from 1,3 PDO and terephthalic acid. Unlike the above three PDO projects, DuPonts 1,3 PDO
PRODUCT NEWS uses corn as feedstock. A DuPont official acknowledged the incoming glycerine-based PDO projects but
noted that glycerine price and supply have historically been volatile, which could leave DuPont advantaged
ETHYLENE & POLYETHYLENE in terms of feedstock costs.
MONOETHYLENE GLYCOL
Glycos Biotechnologies is also using crude glycerine feedstock to produce the rubber raw material,
POLYETHYLENE isoprene, as well as ethanol and acetone. The companys biorefinery, being built in a Malaysian industrial
park called Bio-Xcell, is expected to start operating this year with a production capacity of up to 30 ktpa,
TEREPHTHALATE (PET)
which is expected to be reached by 2014. The biorefinery can reportedly expand to a capacity of 90
POLYAMIDES & ktpa, depending on market demand.
INTERMEDIATES
Crude glycerine spot prices in Asia were assessed as stable-to-soft and currently quoted at around $400/
PROPYLENE GLYCOL ton. Average refined glycerine prices in China and Southeast Asia were seen at $910/ton and $885/ton,
respectively.
BUTANOLS
China: Glycerol Imports By Leading Source Countries April 2013
EPICHLOROHYDRIN
(Metric Tons)
1,4 BUTANEDIOL
SUCCINIC ACID Indonesia 3949 27070 15447
Malaysia 3796 18132 13093
FATTY ACIDS Philippines 167 459 534
Australia 101 594 499
FATTY ALCOHOLS
Japan 20 78 73
GLYCEROL U.S. 5 12 23
France 0 822 0
POLYLACTIC ACID (PLA) Argentina 0 1245 0
Thailand 0 1592 0
AGRICULTURAL SECTOR
Total 8043 50031 29705
FEEDSTOCK NEWS Source: China Customs
ECONOMIC NEWS
CHEMICAL PROFILE
North America
(PBS) US polylactic acid (PLA) resin producer, NatureWorks, a 50-50 joint venture between US agribusiness
Cargill and Thailand chemical firm PTT, has selected Cromex as its Brazilian distributor for its Ingeo PLA-
STUDIES
based fibers and plastics.
CONFERENCES
NatureWorks noted that its Ingeo food service items, such as flatware, cups and utensils, are typically
ACCESS biodegradable in industrial composting facilities. Rigid and film-based Ingeo packaging reportedly
TECNON ORBICHEM delivers performance advantages. A PLA-based clamshell packaging that requires 20-30% less material
than a comparable package made from PET illustrates one of these advantages.
ONLINE
NatureWorks is the largest PLA producer worldwide with a current 150 ktpa production facility located
in Blair, Nebraska, USA. According to a recent biopolymers study from Germany-based Nova-Institut,
25 companies are currently producing PLA with a total of over 180 ktpa capacity located at 30 sites
worldwide. In addition to the Nature Works facility, other producers have current capacity ranging from
1.5 ktpa to 10 ktpa. Nova-Institut has forecast global PLA capacity will reach 800 ktpa by 2020 with at
least seven sites having a capacity of over 50 ktpa by that year.
In the US, only one other PLA producer, HEPLON American Chronopol, has been reported with a 2 ktpa
capacity located in Colorado, USA. Most of the planned PLA facilities will be located in Asia.

FRONT PAGE As the PLA market remains a niche plastic sector with few major players, pricing for PLA resins remains
difficult to pin down. PLAs feedstock, lactic acid, however, has long been traded in the commercial market
PRICE MONITOR
for various applications, such as in the food and beverage sector as a preservative and pH adjusting agent
COMPANY NEWS and in the pharmaceutical and chemical industries as a solvent and intermediate material. Polymerization
of lactic acid produces the biodegradable polylactic acid polymer.
PRODUCT NEWS
Market prices for lactic acid were estimated between $1300/ton and $1600/ton. Industry sources
ETHYLENE & POLYETHYLENE indicated pricing for PLA to compete against PP and PET could be around $2000/ton, although competing
materials pricing varies, depending on applications. PLA has increasingly been used in blends with other
MONOETHYLENE GLYCOL
bioplastics such as starch-based resins or with traditional polyolefins.
POLYETHYLENE
West Europe
TEREPHTHALATE (PET)
POLYAMIDES & Swiss engineering firm Sulzer has been contracted to deliver a 10 ktpa PLA plant in Asia using its proprietary
PLA processing technology. The facility is expected to start in the second half of 2014. The company did
INTERMEDIATES
not disclose the name of its customer or the location where the PLA plant will be constructed.
PROPYLENE GLYCOL
Sulzer started its own 1 ktpa PLA pilot plant last year, mostly for customer testing. Another European
BUTANOLS engineering firm, Uhde, is also operating a 500 tpa PLA pilot plant in Guben, Germany, for customer
trials.
EPICHLOROHYDRIN
1,4 BUTANEDIOL In April, Russian industrial biotechnology company, PoliKompleks, is reportedly planning to construct a PLA-
based plastic facility in Kaliningrad with a capacity of 50 ktpa. The project is expected to be completed
SUCCINIC ACID in 2016.
FATTY ACIDS Other PLA producers in Europe include Synbra Technology based in the Netherlands and Futerro, a 50-50
joint venture established in 2007 by lactic acid producer Galactic and Total Petrochemicals. Synbra is
FATTY ALCOHOLS
currently running a 5 ktpa PLA capacity at the Sulzer Chemtech facility in Allschwil, Switzerland. The PLA
GLYCEROL plant, which started operations in 2011, is based on a new polymerization process jointly developed by
Sulzer and Dutch lactic acid producer, Purac. Customers of Synbra are manufacturers of packaging and
POLYLACTIC ACID (PLA) insulation products.
AGRICULTURAL SECTOR
Futerro has a 1.5 ktpa demonstration unit in Escanaffles, Belgium, mostly for PLA testing.
FEEDSTOCK NEWS
Asia
ECONOMIC NEWS
CHEMICAL PROFILE NatureWorks is still deciding on the exact location of its proposed second PLA plant planned for Asia,
which it is understood to be aiming to start up by 2016.
(PBS) Asias PLA demand is projected to grow at 20-25% from 2013 to 2015. NatureWorks said it is expected
to make a decision on the location of the new plant in the second half of this year.
STUDIES
CONFERENCES NatureWorks also announced in May that it has chosen PTT Polymer Marketing Co. Ltd. (PTTPM), the
marketing arm of PTT Global Chemical as its distributor of Ingeo resins in Thailand and Vietnam.
ACCESS
TECNON ORBICHEM A 10 ktpa PLA facility is expected to start up in the second half of 2014 somewhere in Asia , according to
Sulzer, which has been contracted to build the facility. The target PLA market for this undisclosed Asian PLA
ONLINE
producer is on high heat PLA for durable and precision applications such as for automotive and electronics
parts.
Lactic acid producer, Purac, was contracted to deliver up to 10 ktpa of its PURALACT lactides for this facility.
Purac started operating its new 75 ktpa lactic acid plant in Rayong, Thailand, last year. Purac reports it
has also signed a development agreement with an undisclosed Asian partner that will further accelerate
commercialization of PLA compounds for injection molding and extrusion purposes.
In China, Hisun Chemical announced in January 2012 that it is planning to expand its PLA capacity in
Taizhou, Zhejiang to 50 ktpa. The newly expanded facility is expected to start operating this year. Chinas
PLA production cost is typically higher compared to that of NatureWorks with some domestic industrial PLA

FRONT PAGE resins reportedly reaching prices of up to $4000/ton, depending on the region and the end-use. PLA use
in biomedical applications, which is usually imported, is quoted at prices as high as $10000/ton.
PRICE MONITOR
COMPANY NEWS PLA import data for key markets April 2013
(Metric Tons)
PRODUCT NEWS
ETHYLENE & POLYETHYLENE China 899 2281 2488
Taiwan 989 3854 2929
MONOETHYLENE GLYCOL
South Korea 429 884 1861
POLYETHYLENE Japan 302 2005 1518
U.S. 76 868 260
TEREPHTHALATE (PET)
France 29 489 383
POLYAMIDES & Netherlands N.A. 5070 *2751
Italy N.A. 2438 *2273
INTERMEDIATES
Germany N.A. 2195 *2784
PROPYLENE GLYCOL EU27 1175 6231 5550
* These are Jan-Mar 2013 import data as April are not available
BUTANOLS
AGRICULTURAL SECTOR FEEDSTOCK NEWS
EPICHLOROHYDRIN
1,4 BUTANEDIOL Fats and oils prices worldwide have eased from record high levels seen in mid-2011 to mid-2012. This
decline in prices has been driven by weaker global demand for most fats and oils from mid-last year, as
SUCCINIC ACID well as by an expectation of higher global production of major vegetable oils, palm oil and soybean oil this
year. Global soybean production for crop year 2013/14 (starting in September) is expected to increase
FATTY ACIDS 6% to 285.5 million tons, according to the US Department of Agriculture (USDA). Global production of
palm oil is projected up 5% to 58.1 million tons. World production of tallow is seen stagnating at 8.3-8.4
FATTY ALCOHOLS
million tons in marketing year October 2012/September 2013.
GLYCEROL
Fats and Oils Price (Northwest Europe, US$/ton)
Products April May Jan-May 2013 Jan-Dec 2012
AGRICULTURAL SECTOR
Crude palm oil 842 849 850 1,000
FEEDSTOCK NEWS Soybean oil 1,095 1,074 1,130 1,227
Rapeseed oil 1,136 1,116 1,171 1,241
ECONOMIC NEWS
Coconut oil 793 826 826 1,112
CHEMICAL PROFILE Tallow 1,073 1,059 1,035 1,087
Source: Asian and Pacific Coconut Community (www.apccsec.org)
(PBS) Corn and corn derivatives prices worldwide are also coming down from record highs seen in mid-2012.
Record global corn production for crop year 2013/14 that starts in September is expected to exert
STUDIES
substantial downward pressure on prices. Global corn production is forecast up 13% to 109 million tons
CONFERENCES on the basis of record crops in the US, Argentina, China and Ukraine.
ACCESS The US is the worlds largest producer and exporter of corn. The US corn crop for 2013/14 is projected at
TECNON ORBICHEM a record 14.1 billion bushels, 3.4 billion above last seasons drought-reduced crop. U.S. corn prices are
projected sharply lower, with the 2013/14 midpoint of the price range down 32% on same time last year
ONLINE
at $4.70 per bushel. [For corn (maize), 1 bushel = 56 lbs = 25.4 kg]
World corn imports are expected to be stronger with most of the additional demand coming from China.
Corn used for ethanol in the US is up from last year although forecast lower than the peak seen two years
ago.

FRONT PAGE US Corn and By-products Prices
PRICE MONITOR
Month Corn Corn starch Dextrose
COMPANY NEWS ($/bushel) ($/ton) ($/ton)
Jan. 2012 6.25 438.72 768.31
PRODUCT NEWS Feb 6.41 471.79 746.26
Mar 6.46 480.39 790.36
ETHYLENE & POLYETHYLENE Apr 6.34 487.00 768.31
May 6.27 470.47 768.31
MONOETHYLENE GLYCOL
Jun 6.30 468.48 768.31
POLYETHYLENE Jul 7.85 455.25 779.33
Aug 8.15 531.31 768.31
TEREPHTHALATE (PET)
Sep 7.70 533.96 768.31
POLYAMIDES & Oct 7.48 508.16 768.31
Nov 7.39 490.31 779.33
INTERMEDIATES
Dec 7.23 490.97 773.82
PROPYLENE GLYCOL Jan 2013 7.17 502.21 779.33
Feb 7.15 490.97 779.33
BUTANOLS Mar 7.33 502.87 779.33
Apr 6.57 508.83 779.33
EPICHLOROHYDRIN
May 6.83 484.36 779.33
1,4 BUTANEDIOL For corn (maize) 1 bushel = 56 lbs = 25.4 kg
Source: US Department of Agriculture
SUCCINIC ACID
US Corn Industrial Use (Million Tons)
FATTY ACIDS
Marketing Year Glucose and Starch Fuel Alcohol
FATTY ALCOHOLS
Dextrose
GLYCEROL Sep-Nov 2011 1.98 1.64 32.18
Dec 2011-Feb 2012 1.86 1.58 33.14
POLYLACTIC ACID (PLA) Jun-Aug 2012 1.84 1.65 31.70
Sep-Nov 2012 1.79 1.62 29.00
AGRICULTURAL SECTOR
Dec 2012-Feb 2013 1.65 1.49 28.40
FEEDSTOCK NEWS Source: US Department of Agriculture
ECONOMIC NEWS
Sugar and ethanol prices are expected to come down this year as the 2013/14 sugarcane harvest year in
CHEMICAL PROFILE Brazil, which started in April, is forecast to increase by 8.3% at 640 million tons over the 2012/13 crop of
591.1 million tons, according to the Brazilian sugarcane industry association, UNICA. Ethanol production is
projected higher at 26.82 billion litres: 12.55 billion litres for anhydrous ethanol and 14.27 billion litres for
(PBS) hydrous. Hydrous (or wet) ethanol is the most concentrated grade of ethanol (96%) that can be produced by
simple distillation, without the further dehydration step necessary to produce anhydrous (or dry) ethanol.
STUDIES
CONFERENCES Anhydrous ethanol production is expected to increase the most because of the increase in the blend requirement
to 25% (E25) for gasoline sales. Although 90% of all vehicles sold in Brazil are flex-fuel, hydrous ethanol prices
ACCESS in Sao Paulo State alone seem consistently low enough to favour ethanol use over gasoline.
TECNON ORBICHEM
The average export price for Brazilian ethanol in April was $703/litre ($2.67/gal), a decrease of 5% from
ONLINE
one year ago. Export Brazilian ethanol prices peaked in February 2012 at $3.11/gal and went as low as
$2.39/gal in December 2012. Prices for export Brazilian sugar peaked at $582/ton in April last year and
continuously went down to hit $460/ton in April this year, down 21% compared to the price one year earlier.
ECONOMIC NEWS
US building permits for privately-owned housing have fallen by 3.1% in May to a seasonally adjusted rate
of 974,000 but it is 20.8% above the May 2012 estimate of 806,000. Housing starts in May were at a
rate of 914,000, 6.8% above the revised April estimate of 856,000 and 28.6% above May 2012.

FRONT PAGE The final Markit US Manufacturing Purchasing Managers Index (PMI) signalled a further improvement in
May with a reading of 52.3, up slightly from the six-month low of 52.1 in April. Production levels increased
PRICE MONITOR
in May as the number of new orders rose in the domestic market, whereas new export orders have
COMPANY NEWS changed little over the month.
PRODUCT NEWS The unemployment rate in the Eurozone was 12.2% in April, up from 12.1% in March. In the EU27, the
unemployment rate was unchanged in April at 11.0%. In both zones, rates have increased compared to
ETHYLENE & POLYETHYLENE April 2012 when they were 11.2% and 10.3% respectively, according to Eurostat.
MONOETHYLENE GLYCOL
Total US nonfarm payroll employment increased by 175,000 in May. Both the number of unemployed
POLYETHYLENE persons, at 11.8 million, and the unemployment rate, at 7.6%, were unchanged in May, the US Bureau f
Labour Statistics has reported,
TEREPHTHALATE (PET)
POLYAMIDES & The Organisation for Economic Co-operation and Development (OECD) has again cut its growth forecasts for
the Eurozone, saying that it will shrink by 0.6% this year, with the UK forecast revised down to 0.8% growth this
INTERMEDIATES
year and 1.1% in 2014. In its twice-yearly Economic Outlook, the OECD reports US activity is projected to rise
PROPYLENE GLYCOL by 1.9% this year and by a further 2.8% in 2014 and in Japan GDP is expected to grow by 1.6% in 2013 and
1.4% in 2014. It also expects Chinas annual growth to be about 8% over the next two years.
BUTANOLS
GDP in the Eurozone fell by 0.2% and by 0.1% in the EU27 in the first quarter of 2013, compared to the
EPICHLOROHYDRIN
previous quarter, according to a second estimate by Eurostat. In Q4 2012, growth rates were down by
1,4 BUTANEDIOL 0.6% and 0.5% respectively. Compared to Q1 2012, GDP has fallen by 1.1% in the Eurozone and by
0.7% in the EU27.
SUCCINIC ACID
The Bureau of Economic Analysis (BEA) has released its second estimate of real GDP growth in the US,
FATTY ACIDS reporting it has increased at an annual rate of 2.4% in the first quarter of 2013 compared to Q4 2012.
The data is based on more complete source data, which was not available for the advance estimate
FATTY ALCOHOLS
in April (+2.5%). The BEA reports the second estimate has taken into account that increases in private
GLYCEROL inventory investment, both in exports and in imports, were less than previously estimated, but the general
picture of overall economic activity has not greatly changed.
In China, the Producer Price Index (PPI) for manufactured goods fell in May by 2.9% year on year and 0.6
AGRICULTURAL SECTOR
% from last month, according to the National Bureau of Statistics of China. From January to May the PPI for
FEEDSTOCK NEWS manufactured goods decreased 2.3% year on year. The Consumer Price Index (CPI), however, has gone
up by 2.1% year on year but it is down by 0.6% from last month.
ECONOMIC NEWS
CHEMICAL PROFILE US light-vehicle sales totalled 1.4 million in May, up from Aprils figure of 1.28 million, according to Wards
Auto. Annual sales of 15.2 million mark an increase from Aprils 14.9 (when sales had hit the lowest since
October last year). Sales have been driven by large trucks and cross/utility vehicles followed by sales in
(PBS) the lower-small and lower-luxury sector.
STUDIES
Demand for new passenger cars in the EU fell in May to their lowest level since 1993, dropping by 5.9%
CONFERENCES to 1,042,742 units from April. In the first five months of this year, new cars registered in the region were
6.8% less year on year. Most of the major markets faced a downturn in May ranging from -2.6% in Spain,
ACCESS to -8.0% in Italy, -9.9% in Germany and -10.4% in France. The UK is once again the only country to have
TECNON ORBICHEM posted growth at +11.0%.
ONLINE
In China, 1,396,900 passengers cars were sold in May, 3.09% down from April but they are up 9.04%
compared to the same period last year, according to the China Association of Automobile Manufacturers
(CAAM). From January to May, passenger car sales have increased 14.73% year on year to about
7,261,600 units.
Car sales have fallen for the seventh consecutive month in India despite the high discounts on offer,
according to the Society of Indian Automobile Manufactuers (SIAM). Data shows that car sales fell 12.3%
year on year in May with a total of 143, 216 cars sold. The association now expects job losses as poor
sales are forcing manufacturers to cut back production.

FRONT PAGE CHEMICAL PROFILE: POLYBUTYLENE SUCCINATE (PBS)

PRICE MONITOR
Introduction
COMPANY NEWS
Polybutylene succinate (PBS), a biodegradable plastic used in applications such as packaging for food and
PRODUCT NEWS consumer electronics, tableware, agriculture mulch films and civil engineering materials, has attracted lots
of interest and is under development for numerous applications worldwide. Due to its aliphatic nature, the
ETHYLENE & POLYETHYLENE hydrolysable ester bonds within its structure are relatively accessible for microbial degradation. Hence,
PBS decomposes into carbon dioxide and water in a natural environment. PBS is regarded to have good
MONOETHYLENE GLYCOL
thermal stability relative to other types of biodegradable polymers, with melting point at about 95 - 115 C.
POLYETHYLENE It can also be blended with other biodegradable materials such as starch and polylactic acid (PLA) up to
special modification to enable commercial application for different kinds of plastic products.
TEREPHTHALATE (PET)
POLYAMIDES & Processing Technology

INTERMEDIATES
At the moment, PBS is mostly synthesized via one-step polycondensation of petro-derived succinic acid and
PROPYLENE GLYCOL 1,4 butanediol (BDO). The two Japan-based chemical companies Showa Denko and Mitsubishi Chemical
are the only known producers currently making commercial quantities of PBS using bio-based succinic
BUTANOLS acid and petrochemical-based BDO. Myriant is the supplier of renewable-based succinic acid for Showa
Denkos PBS while Mitsubishi Chemicals bio-based succinic acid is supplied by BioAmber. Potentially
EPICHLOROHYDRIN
PBS can be made 100% bio-based if the BDO part is made from renewable rather than petrochemical
1,4 BUTANEDIOL feedstock. Bio-based BDO can be produced via a one-step direct fermentation (route by Genomatica), or
alternatively via a two-step process consisting of the initial production of succinic acid from bio-feedstocks
SUCCINIC ACID and subsequent conversion to BDO through conventional hydrogenation.
FATTY ACIDS Top Petrochemical Producers (ktpa)

FATTY ALCOHOLS
Company Location Capacity
GLYCEROL Mitsubishi Chemical Japan 3
Showa Denko Tatsuno, Japan 6
POLYLACTIC ACID (PLA) Samsung Fine Chemicals Korea 2
Kingfa Science&Technology
AGRICULTURAL SECTOR
(via Zhuhai Wantong Chemical) China 30
FEEDSTOCK NEWS Zhejiang Hangzhou Xinfu Pharmaceutical China 20e
Anqing Hexing Chemical Anqing, Anhui, China 10
ECONOMIC NEWS
China New Materials Zibo, Shandong, China 25
CHEMICAL PROFILE
e = Expansion of existing 13 ktpa capacity expected by September 2013
(PBS) Planned Bio-based Capacity (ktpa)
STUDIES
Company Location Capacity Start-up Date
CONFERENCES PTTMCC Rayong, Thailand 20 2015
ACCESS Market Fundamentals

TECNON ORBICHEM
A joint venture of PTT Thailand and Mitsubishi Chemical (called PTTMCC Biochem) is building a PBS plant in
ONLINE
Thailand with an annual capacity of 20,000 tons and production is targeted to come on stream by 2015.
BioAmber has been chosen as a partner to build a succinic acid plant with capacity of 65 ktpa in proximity
to PTTMCCs PBS plant. BioAmber also plans to produce 50 ktpa of bio-based BDO on site, using DuPonts
hydrogenation catalyst technology to convert bio-based succinic acid to BDO in an integrated process.
According to BioAmber, PTTMCC will help BioAmber secure the sourcing of biomass for the plant (initially
from sugar cane and/or tapioca). Mitsubishi Chemical is currently producing petroleum-based biodegradable
PBS in Japan under the brand GS Pla. Mitsubishi Chemical has also signed an agreement with automotive
equipment supplier Faurecia on joint research and development of a 100% renewable-based polymer suitable
for automotive interior parts. The project will begin by modifying Mitsubishi Chemicals patented bio-based PBS,
targeted to be produced from 100% biomass feedstock. BioAmber will also be the supplier of succinic acid in
this partnership.

FRONT PAGE Prices

PRICE MONITOR
The Chinese PBS market is strong with good demand for petroleum-based material, which is priced at
COMPANY NEWS around $4500/ton, after discounts. A premium for bio-based material may not be viable as the existing
material has a green aspect to it, already, being bio-degradable.
PRODUCT NEWS
Research & Development
Much research and development interest has been focused on blending PBS with other copolymers
MONOETHYLENE GLYCOL
with complementary properties to expand the range of commercial applications, such as compounded
POLYETHYLENE PLA/PBS. PLA is a biodegradable polymer derived from renewable resources such as corn starch.
Although it has great potential because of the increasing interest in the global environment, its
TEREPHTHALATE (PET)
application is restricted by the limited thermal and mechanical properties of virgin PLA. Research has
POLYAMIDES & been done to investigate blending of PBS with PLA in order to improve the toughness of PLA, while
INTERMEDIATES maintaining its sustainability.
PROPYLENE GLYCOL NatureWorks, with its commercial range of IngeoTM PLA biopolymers, has formed a joint venture called
AmberWorks with BioAmber to commercialise bio-based compounded PBS. The PLA/PBS compounding
BUTANOLS intellectual property used by AmberWorks is owned by Sinoven Biopolymers, a subsidiary of BioAmber.
EPICHLOROHYDRIN
NEXT PRODUCT PROFILE: BIO-SUCCINIC ACID
1,4 BUTANEDIOL
FUTURE PRODUCT PROFILE: BIO-1,4 BUTANEDIOL
SUCCINIC ACID
STUDIES
FATTY ACIDS
Tecnon OrbiChems S/Db-CHEM is a truly comprehensive service, containing all the information you need
FATTY ALCOHOLS
- Supply/Demand data, Trade flows, Consumption trends, Capacity listings and Historical prices.
GLYCEROL
Supply/Demand Balances contain an analysis of historical data and forecasts to 2025.
Trade Flows presented as country-to-country trade grids.
AGRICULTURAL SECTOR
FEEDSTOCK NEWS Capacity Listings give producer, owner and feedstock information.
ECONOMIC NEWS
Historical Prices for easy construction of tables, charts and margins.
CHEMICAL PROFILE
S/Db-CHEM is available as:
(PBS) A constantly updated Internet Database downloadable Microsoft Excel spreadsheets & Adobe .PDF files
STUDIES
A quarterly CD-ROM with fully interactive Microsoft Access database and Adobe .PDF files
CONFERENCES
A Printed Report in full colour, with commentary, tables and charts
ACCESS
TECNON ORBICHEM
The following studies and many others are available. Please follow the links to obtain more information or
ONLINE
go to our website: www.orbichem.com
ACRYLIC ACID & ESTERS PET PACKAGING RESIN

MALEIC ANHYDRIDE POLYESTER
POLYAMIDE & INTERMEDIATES WORLD SYNTHETIC FIBRES
ETHYLENE OXIDE - MONOETHYLENE GLYCOL

CONFERENCES
10th China International Polyester & Intermediates Forum

11 - 12 July 2013
Shanghai
To download leaflet please click here
International Chemical Downstream Conference 2013

29 - 30 October 2013
Mumbai, India
For more information please click here
7th International Polyurethane Summit in China

7 - 8 November 2013
Xiamen, China
To download leaflet please click here
11th China International Polyamide & Intermediates Forum

5 - 6 December 2013
Shanghai
For more information please click here
Tecnon OrbiChem Ltd

12 Calico House,
Plantation Wharf, York Place
London SW11 3TN UK
Senior Consultant Doris de Guzman
Tel: +44 20 7924 3955
Fax: +44 20 7978 5307
Email: philippa.davies@orbichem.com
Web: www.orbichem.com

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INCLUDING BIO-BASED CHEMICALS, BIO-POLYMERS & THEIR PETROCHEMICAL EQUIVALENTS

BIO-MATERIALS & INTERMEDIATES

CHEMICAL BUSINESS FOCUS

Polylactic Acid (PLA)

n-Butanol Export 63.5 60.8 - 61.7 59.0 N.A. FOB N.A.

Succinic Acid Contract N.A. N.A. 113.0 113.0 DDP 2491

$/ton $/ton $/ton $/ton

N.A. = Not Available = Revised

Current one US dollar equivalent (28-Jun-2013)

2 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

PRODUCT NEWS /ton /ton /ton /ton $/ton

3 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

PRODUCT NEWS $/ton $/ton $/ton $/ton

4 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

FRONT PAGE COMPANY NEWS

5 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

6 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

7 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

POLYLACTIC ACID (PLA)

8 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

FRONT PAGE ETHYLENE AND POLYETHYLENE

ACCESS Asia - Petrochemical

9 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

FRONT PAGE MONOETHYLENE GLYCOL

FATTY ACIDS West Europe - Petrochemical

ECONOMIC NEWS UNITED STATES, WEST EUROPE & ASIA

Source: Tecnon OrbiChem

10 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

FRONT PAGE West Europe - Bio-based

11 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

POLYAMIDES & 1250

PROPYLENE GLYCOL 750

ACCESS West Europe - Petrochemical

West Europe - Bio-based

12 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

13 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

SUCCINIC ACID POLYAMIDES & INTERMEDIATES

14 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

CHEMICAL PROFILE UNITED STATES, WEST EUROPE & ASIA

Source: Tecnon OrbiChem

15 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

FATTY ACIDS Asia - Petrochemical

16 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

PROPYLENE GLYCOL CHINESE IMPORTS

17 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

18 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

FRONT PAGE PROPYLENE GLYCOL

ACCESS West Europe - Petrochemical

19 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

MONOETHYLENE GLYCOL 2000

PROPYLENE GLYCOL 1000

20 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

GLYCEROL North America - Bio-based

21 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

COMPANY NEWS West Europe - Petrochemical

POLYAMIDES & West Europe - Bio-based

22 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013

PROPYLENE GLYCOL CHINESE IMPORTS

23 Tecnon OrbiChem ISSUE NUMBER 000 / 1ST JULY 2013