Prime Polymer Co. Ltd Starts New Production Plant for Metallocene Polymer

Singapore: Prime Polymer Co. Ltd, has established a joint venture company with Mitsui Chemicals, where Prime Polymer holds 80% ownership and Mitsui Chemicals holds 20% ownership. The joint venture company, Prime Evolue Singapore Pte. Ltd., is involved in the production of Evolue, a metallocene linear low-density polyethylene. The joint venture manufacturing facility has a production capacity of 300,000 metric tons per year. The capital involved with this production unit is around USD115 million.

TechSci Research depicts that the establishment of the new company and the construction of the new production facility in Singapore, Prime Polymer is expected to strengthen its position in the Asian market, including Japan. Moreover, the joint venture is anticipated to boost and expand the Evolue business.

According to the recent report published by TechSci Research, “India Engineering Plastics Market Forecast and Opportunities, 2020”, India engineering plastics market is projected to exhibit a CAGR of over 13% during 2015 – 2020. Growth in the market is anticipated on account of increasing application in various industries, wherein engineering plastics are fast emerging as substitutes to traditional engineering materials like wood and metal, owing to their superior physical and mechanical properties. In 2014, Acrylonitrile-Butadiene Styrene (ABS) was the most dominant segment in the country’s engineering plastics market, followed by polycarbonate, styrene-acrylonitrile copolymer (SAN), polyamide and Polybutylene terephthalate (PBT).