AGP Executive Report

BASF Outlook: The chemicals giant raised its 2026 earnings forecast for a second time, as higher prices helped lift third-quarter core profit 15% to €1.6 billion. Elementis Guidance: The specialty chemicals maker expects full-year adjusted operating profit of $133 million to $135 million, citing progress in personal care and energy products despite mixed markets. Trade Ties: India and Mexico launched preferential trade talks, with chemicals among sectors identified for potential cooperation alongside automotive, pharmaceuticals and electronics. Qatar Results: Mesaieed Petrochemical Holding reported a QR428 million nine-month net loss as regional conflict and logistical disruption cut production and sales volumes. Fertilizer Investment: Técnicas Reunidas will supply hydrogen-production reformers for Dangote’s planned 3-million-tonne-a-year urea complex in Ethiopia. Bio-Based Surfactants: BASF expanded alkyl polyglucoside production in Cincinnati, boosting North American supply of renewable, biodegradable ingredients for cleaning, personal care and agricultural uses.

Company Moves: Sika acquired a Dubai waterproofing membrane producer, Azelis expanded its Nordic distribution partnership, and LANXESS launched biodegradable esters for beauty formulations. MEGlobal became the first U.S. ethylene glycol producer to earn ISCC Carbon Footprint Certification. Plant Technology: Dangote Refinery is deploying Honeywell AI tools to improve efficiency and cut downtime. Materials Innovation: Singapore committed S$150 million to AI-driven materials discovery, while Japanese researchers are using supercritical CO₂ to aid polyester recycling. Market Outlook: IEEFA warned that India’s petrochemical expansion faces margin and energy-security risks; the EU is also weighing safeguards on Chinese chemical imports. PFAS: The EPA announced a new strategy and technology push to address “forever chemicals,” while Wisconsin launched grants for drinking-water testing. Emory will trial a drug aimed at removing PFAS from the body. Legal: A securities class action has been filed against Chemours and certain officers.

Industry Leadership: The GCC secretary-general will open the 20th GPCA Forum in Dubai, where chemical executives and policymakers will discuss resilience and competitiveness. Offshore Supply: OEG signed a seven-year deal to supply 50 chemical tanks to a specialty chemicals company in Brazil, securing equipment for offshore operations. Digital Refining: Honeywell launched its Forge Plant Cognition AI platform with Dangote Refinery; the project is expected to lift throughput by more than 1% and deliver over $20 million in annual benefits. Feedstock Strategy: Indonesia is cutting gas exports to Singapore by 31 billion BTtu a day to prioritize domestic users, including planned petrochemical plants. Refinery Investment: Tata Power and BPCL will invest about ₹250 crore in power infrastructure for BPCL’s Mumbai refinery project, which supports higher-value products and petrochemical diversification. Specialty Chemicals: LANXESS introduced biodegradable Cosmelin esters as alternatives to conventional silicones in beauty products. M&A: BASF raised its offer for Evonik shareholders to $12.3 billion. Materials Research: Singapore committed S$150 million to materials discovery, including AI-enabled research. New Capacity: Grasim began production at its epichlorohydrin plant in Gujarat.

Mergers & Trade: BASF raised its offer for Evonik to $12.3 billion, while the EU opened an investigation into PVC imports after Chinese shipments surged tenfold. Plant Security: Ukrainian drones reportedly struck a Voronezh chemical plant linked to fuel production for Iskander missiles. Capacity & Technology: India’s chemical expansion continues, with Grasim starting an epichlorohydrin plant and major investments announced in bioplastics, fertilisers and specialty chemicals. In Singapore, Amogy will pilot ammonia-cracking technology with A*STAR. Chemical Regulation: The EPA is backing technologies to tackle “forever chemicals,” as Pennsylvania moves to restrict PFAS firefighting foam.

Battery Materials: Firebird Metals cut sulphur in its manganese-rich battery precursor by 46% and reported higher tap density, improving a key step toward commercial production. Company Updates: SABIC returned to profit in the third quarter as revenue rose. Tata Chemicals’ Kenya subsidiary is assessing its options after a court ruled it had no jurisdiction over its dispute with the mining ministry; a separate technical review is under way. Plant Security: Ukrainian drone attacks reportedly hit chemical facilities in Omsk and Togliattikauchuk, Russia. Investment & Capacity: India is targeting a $1 trillion chemicals sector by 2040, while Himadri Speciality Chemical plans ₹1,613 crore in capacity expansion. Deals & Regulation: BASF and HSCC are exploring a joint venture spanning the polyamide 6 value chain, and Sika agreed to acquire Resonac’s adhesives business. Pennsylvania lawmakers also advanced restrictions on harmful chemicals in medical devices and firefighting foam.

Chemical Safety: A fire at Pacific Seafood’s Newport, Oregon, plant prompted evacuations within a mile as officials assessed possible ammonia in the smoke; no injuries were reported. Plant Disruption: Ukrainian drones reportedly struck Omsk Rubber, a major Russian synthetic-rubber producer, sparking a fire. Company and Supply Chains: SABIC returned to profit in Q3 despite regional conflict, while ADNOC announced more than $16.3 billion in UAE manufacturing opportunities across 200-plus products and parts. India’s Chemicals Push: Officials are targeting a $1 trillion chemicals and petrochemicals market by 2040; Odisha says India Chem 2026 generated ₹53,893 crore in proposed investments. Industry Outlook: Bain forecasts 35 million tonnes of global chemical capacity cuts by 2030, as UK producers face a worsening output slump. PFAS: WSSC restarted bidding on a Potomac treatment pilot within a planned $298 million program; separate research warns U.S. drinking-water PFAS levels may be undercounted.

Plant Disruption: Ukrainian long-range drones struck Omsky Kauchuk in Russia, with reports of a fire at the synthetic-rubber and chemical-intermediates producer. PFAS Pressure: New analysis warns US drinking-water PFAS levels may be twice EPA estimates, adding to calls for treatment and accountability. India’s Ambition: At India Chem 2026, officials reiterated a $1 trillion chemicals-sector target by 2040; Odisha secured investment proposals worth ₹53,893 crore. Capacity and Investment: Gujarat Alkalies broke ground on a 33,870-tonne-per-year phosphoric acid plant, while Himadri Speciality Chemicals plans ₹1,613 crore in capacity expansion. Market Outlook: EU chemicals posted a €257 billion trade surplus in 2025, even as UK production struggles and global capacity cuts of 35 million tonnes are forecast by 2030. Cleaner Chemistry: UPM opened a $1.5 billion German biorefinery producing renewable chemicals from wood, marking a major push into bio-based feedstocks.

India’s Chemicals Push: JP Nadda says India’s chemicals and petrochemicals market must grow from about $220 billion to $1 trillion by 2040. Odisha secured ₹53,893 crore in investment proposals at India Chem 2026, including Paradeep Phosphates’ planned ₹4,750 crore expansion. Gas and Petrochemicals: Indonesia began cutting gas exports to Singapore by 31 billion Btu a day, saying it wants to prioritize domestic demand and downstream industry. Plant Attacks: Ukraine said its drones hit Russia’s Omsk Kauchuk petrochemical facility; Russian authorities reported damage to industrial sites in Omsk and Tolyatti. Investment and Capacity: BASF raised its offer for Evonik in a potential €11 billion deal, while a Bain outlook warns the global chemicals sector could cut 35 million tonnes of capacity by 2030. Industrial Efficiency: Everllence will supply a 13.5 MW turbine-generator for Yara’s German fertilizer plant, converting process steam into electricity to reduce energy waste. New Capacity: Gujarat Alkalies broke ground on a 33,870-tonne-a-year phosphoric acid plant in Dahej.

Plant Security: A Ukrainian drone strike sparked a fire at Russia’s Tolyattikauchuk petrochemical complex, a major synthetic-rubber and gasoline-additives producer; the extent of damage remains unconfirmed. India Expansion: Odisha reported ₹53,893 crore in investment proposals and 20,210 projected jobs from India Chem 2026. Gujarat Alkalies also began a ₹520-crore food-grade phosphoric acid project, planned to add 33,870 tonnes of annual capacity and reduce import reliance. Corporate Deals: BASF raised its offer for Evonik in a potential €11 billion deal, while BASF and HSCC are exploring a polyamide-6 joint venture. Feedstock Shift: Indonesia cut gas exports to Singapore by 31 BBTU per day, prioritizing domestic industry and petrochemical feedstock. Cleaner Chemicals: UPM opened a wood-based biorefinery in Germany, and researchers reported a palladium-coated membrane that removed more than 90% of PFAS in laboratory tests.

Industry Deals: BASF raised its offer for Evonik in a potential €11 billion deal, while BASF and HSCC are exploring a joint venture spanning the polyamide 6 value chain. India Investment: Odisha reported ₹53,893 crore in investment proposals from India Chem 2026, targeting chemical and petrochemical growth and more than 20,000 jobs. Safety and Regulation: A chemical leak in Toledo triggered evacuations and closures before the release was declared over nearly 48 hours later; meanwhile, a new study suggests PFAS in U.S. drinking water may be underreported. Capacity and Transition: Bain forecasts the global chemicals industry will cut 35 million tonnes of capacity by 2030. Germany’s UPM opened a major wood-based biorefinery, while Singapore committed funding to advance industrial decarbonization and bio-based chemicals.

Feedstock Strategy: Indonesia will review gas exports to prioritize domestic supply and secure feedstock for a planned petrochemical hub. Deals & Expansion: Sika agreed to acquire Resonac’s adhesives business to grow in Asian automotive markets, while BASF and HSCC are pursuing a potential joint venture across the polyamide 6 value chain. KBR won contracts to upgrade ammonia plants in Germany and Austria, and GACL commissioned a 33,870-tonne-per-year phosphoric acid plant in Dahej. Decarbonisation: Singapore unveiled S$143 million in funding for industrial low-carbon technologies, including carbon capture and conversion into chemicals, alongside a biomethane supply pilot from 2028. India’s Chemical Push: Odisha promoted an integrated chemicals and petrochemicals ecosystem at India Chem 2026, while Maharashtra plans a dedicated chemicals policy and a hub near Vadhavan Port. Himadri Speciality Chemicals also plans ₹1,613 crore in capacity expansion. Safety & Regulation: A chemical tank leak in Ohio prompted evacuations and closures of schools and workplaces; Pennsylvania lawmakers passed restrictions on hazardous chemicals in IV bags and firefighting foam. Renewable Chemicals: UPM opened a €1.5 billion German biorefinery that turns wood into renewable chemicals.

Chemical Safety: A chemical leak at an MC Tank facility in Toledo, Ohio, forced evacuations and sent dozens of people for treatment; officials identified the released substance as glycidyl methacrylate. India’s Chemical Push: Odisha is pitching a shift to a chemical-led economy, while Maharashtra plans a chemical hub near Vadhavan Port and a dedicated industry policy in November. Industry Deals: BASF confirmed interest in talks with Evonik, and Shell and Exxon are reportedly seeking buyers for their UK chemicals unit. Capacity and Earnings: Himadri Speciality Chemicals plans a ₹1,613-crore expansion, while Dow reported stronger-than-expected quarterly profit on higher polyethylene prices and cost cuts. Cleaner Production: Germany’s UPM opened a $1.5-billion wood-based chemicals biorefinery, a major bet on renewable feedstocks. Consumer Protection: Texas secured a settlement requiring Lululemon to strengthen chemical-safety oversight across its supply chain, including controls on PFAS.

Capacity & Investment: Himadri Speciality Chemicals plans ₹1,613 crore in expansion across battery materials, speciality chemicals, carbon nanotubes and carbon black. Maharashtra is seeking federal approval for a chemical park near Vadhvan Port, with 2,500–5,000 acres proposed. IndiaChem 2026: Odisha pitched its chemical and petrochemical sector as part of India’s ambition to reach a $1 trillion industry by 2040. Construction has also begun on a ₹25,000 crore coal-gasification project in the state, with ₹15,000 crore of work awarded. Safety & Regulation: A chemical tank rupture in Toledo forced evacuations and shelter-in-place orders; reports identified glycidyl methacrylate as the chemical involved. A review of 156,594 beauty and personal-care products flagged 19 potential endocrine-disrupting chemicals and called for stronger safety measures. Sustainable Materials: A new UK network has secured £1.38 million to advance sustainable coatings. Namibia approved environmental clearance for a manganese refinery and sulphuric acid plant aimed at supporting battery-material supply chains. Industry Pressures: UK chemical production is reportedly falling faster than in major economies.

Chemical Safety: A transfer error released flammable glycidyl methacrylate from a 5,500-gallon tank in Toledo, prompting evacuations; about 30 people sought medical care. Trade & Policy: The U.S. sanctioned shipping and legal entities accused of helping move Iranian petroleum and petrochemicals through shadow-fleet networks. Industry Outlook: Bain says global chemical producers may cut 35 million tonnes of capacity by 2030. Investment: India Chem 2026 opens in Mumbai on Oct. 22, with Odisha among the states pitching chemical and petrochemical projects to global investors. Technology & Sustainability: Asahi Kasei secured third-party verification for acrylonitrile’s carbon footprint, while SPOLCHEMIE opened a plant for fluorochemical precursors and UPM launched a major wood-based biorefinery in Germany. Biomanufacturing: eXoZymes’ CEO is set to discuss commercializing its AI-enabled, cell-free platform for making valuable molecules.

Investment and Expansion: Odisha will pitch chemical and petrochemical projects at India Chem 2026, while SRF reported a 31% rise in quarterly profit and approved a ₹600 crore battery-foil plant. Innovation: LG Chem is extending AI across drug discovery and clinical trial selection, including work on a personalized cancer vaccine. Plant Safety and Efficiency: A chemical leak at a Toledo factory triggered evacuations and shelter-in-place orders; at Yara’s German fertilizer plant, a new turbine-generator will turn process steam into 13.5 MW of electricity. Market Moves: Sasol benefited from stronger prices but reported mixed operating performance. BASF and HSCC are exploring a PA6 joint venture, while BASF plans to expand its Taiwan semiconductor materials site. Cleaner Chemistry: Researchers reported new membrane technologies designed to break down PFAS, and UPM opened a major wood-based biorefinery in Germany to produce fossil-free chemicals.

PFAS Treatment: Researchers report a palladium-coated membrane can destroy more than 90% of targeted “forever chemicals” in water, offering a potential alternative to filters that simply trap them. Pakistan Deal: The competition regulator cleared Lotte Chemical Pakistan’s purchase of Engro Corporation’s 56.19% stake in Engro Polymer & Chemicals, the country’s sole domestic PVC producer. Lower-Carbon Materials: Asahi Kasei secured independent verification of the carbon footprint for acrylonitrile made at its South Korean site, while BASF and HSCC are exploring a European polyamide 6 joint venture. Fragrance Ingredients: Symrise is expanding production of musk fragrances in Asia. Ghana Petrochemicals: A $28 billion petroleum hub agreement includes plans for a 300,000-barrel-a-day refinery, two petrochemical plants and storage infrastructure. Renewable Chemicals: UPM opened a $1.5 billion German biorefinery that will make wood-based chemicals, betting on fossil-free alternatives.