APIC ’23: Idemitsu, Kumho, Sumitomo sign deal to develop Asia biopolymer market

Pearl Bantillo


NEW DELHI (ICIS)–Japanese firms Idemitsu Kosan and Sumitomo Corp, and South Korea’s Kumho Petrochemical have signed a memorandum of understanding (MOU) to develop and grow Asia’s bio-material supply chain.

In a joint statement on 17 May, the companies said they plan “to establish a long-term collaboration for the development and further growth of the sustainable polymers and chemicals market in Asia”.

Under the project, Idemitsu Kosan will produce bio-styrene monomer (SM), which will go into the bio-SSBR (solution styrene butadiene rubber) to be produced by Kumho Petrochemical. Investment and capacity details were not disclosed.

Japanese trading firm Sumitomo Corp will be coordinating the collaboration and develop bio-material market.

“The companies plan to commence production of biopolymer in 2024,” they said in the statement.

Idemitsu Kosan is Japan’s biggest SM manufacturer, while South Korea’s Kumho Petrochemical is the world’s biggest synthetic rubber producer.

Sustainability is the main theme of the two-day Asia Petrochemical Industry Conference (APIC) 2023 which will kick off in New Delhi, India, on 18 May.


ICIS Premium news service

The subscription platform provides access to our full range of breaking news and analysis

Contact us now to find out more

Speak with ICIS

Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

Want to learn about how we can work together to bring you actionable insight and support your business decisions?

Need Help?

Need Help?