By Malini Hariharan

Honam Petrochemical’s plan to acquire Malaysia’s Titan Chemical could well be the start of the South Korean major’s foray overseas.

“Honam will keep looking for other M&A opportunities in the chemicals space,” said a source close to the company.

Their interest is not only in basic chemicals but also intermediates and speciality chemicals. Target segments include olefins, polyolefins, ethylene oxide (EO) derivatives and environmentally friendly chemicals.

The priority will be to pursue opportunities in Asia.

Honam has also not given up hopes of establishing a presence in the Middle East. Its planned cracker and derivatives joint venture in Qatar is still in cold storage but the company wants to expand in the region, especially Saudi Arabia and Qatar, by establishing other joint ventures.

Honam’s overseas ambitions are evident in its list of projects. Besides expanding a cracker in South Korea it has taken a stake in a joint-venture 400,000 tonnes/year cracker and derivatives project in Uzbekistan that is due to be completed in 2013. And it is participating in an ethylene oxide (EO) and ethanolamines project in China for completion in 2012.

Honam is also interested in integrating its South Korean petrochemical operations with a refinery.

“But I think there no opportunities right now to enter the refining market in South Korea,” the source added.


Searching for balance


By John Richardson and Malini Hariharan Cautious optimism first gave way to moun...

Learn more

Iranian PE Seen As Threat To China Price Recovery


By John Richardson IRANIAN polyethylene (PE) exports to China could help to cap ...

Learn more
More posts
US/China trade deal achieves little as China pushes hard towards petrochemicals self-sufficiency

By John Richardson PRESIDENT Trump has promised a “tremendous amount of business” for US farmers...

Global polyethylene in 2020: Margins will reach historic lows as new growth model emerges

Here is a first of a series of outlook articles for 2020 where I focus on the risks ahead for the gl...

Long term downcycle will transform global petrochemicals, creating new Winners and Losers

By John Richardson THIS IS not a normal downcycle. Please get over that idea however many people, bo...

Asian PE and PP margins at lowest levels in at least five years and will go lower……

By John Richardson NOT since at least the beginning of 2014 have Northeast and Southeast Asian polye...

Asian polypropylene market heads for major 2020 downturn

By John Richardson THE ASIAN polypropylene (PP) market hasn’t been as bad as the region’s polyet...

China new vehicle sales: A long term decline and what this means for petrochemicals

By John Richardson THE MAINSTREAM view is that there is nothing fundamental about the decline in new...

Asian copolymer polyproplyene used as a sink for growing oversupply of ethylene

By John Richardson A SURE sign that the Asian ethylene-to-polyethylene (PE) markets are distressed c...

Asian polyethylene shutdowns? Once again, good luck with that idea

By John Richardson I was new to the game as I had only been analysing the petrochemicals business fo...


Market Intelligence

ICIS provides market intelligence that help businesses in the energy, petrochemical and fertilizer industries.

Learn more


Across the globe, ICIS consultants provide detailed analysis and forecasting for the petrochemical, energy and fertilizer markets.

Learn more

Specialist Services

Find out more about how our specialist consulting services, events, conferences and training courses can help your teams.

Learn more

ICIS Insight

From our news service to our thought-leadership content, ICIS experts bring you the latest news and insight, when you need it.

Learn more