Recent developments
Polyolefin consolidation Japan
In Japan, Mitsui Chemicals, Idemitsu Kosan, and Sumitomo Chemical finalized the integration of Sumitomo’s PP and LLDPE businesses into Prime Polymer (PRM), a Mitsui–Idemitsu JV, via a two‑phase absorption split. Post‑deal ownership: Mitsui 52%, Idemitsu 28%, Sumitomo 20%. Goals include optimizing polyolefin assets, >¥8 billion annual cost savings, import competitiveness, and development of environmentally oriented grades. Context: polyolefins account for roughly half of domestic plastics demand, but oversupply persists and demand is forecast to decline.
Cable scrap recycling
Prysmian and Versalis formed a supply chain partnership to chemically recycle cable plastics, including cross‑linked layers. Versalis will apply its Hoop technology at Mantua to convert scrap into pyrolysis oil for new polymers, while Prysmian aggregates production and decommissioned cable waste from major customers. The first pilot is planned in Italy in H2 2026. About 60% of XLPE scrap is targeted for reuse in new cable production.
Low-energy bioprocessing
Toray Industries developed immobilized‑microorganism bioreactors that cut energy use by 80–90% versus conventional high‑temperature/pressure conversions. An acrylonitrile trial achieved >99.5% conversion to organic acids in a sealed reactor, limiting volatile losses. The platform can be tailored using a ~500‑species microbe library, with downstream treatment to CO2 via activated sludge. Toray plans technical verification and operational design at internal and external sites ahead of commercialization.
Governance and strategy
Covestro’s governance shifted as Dr. Rainer Seele became Supervisory Board Chair, succeeding Dr. Richard Pott. The change follows the completion of the strategic partnership between Covestro and XRG, with Seele previously leading XRG’s global chemicals business and earlier serving as OMV CEO. The partnership is expected to reinforce Covestro’s focus on sustainability and circular economy themes.