Hanwha TotalEnergies Petrochemical, a significant player in the South Korean petrochemical industry, has taken measures to increase the utilization of styrene production at its Daesan facility in Sosan, South Korea. This adjustment in production strategy comes in response to a technical breakdown that affected operations. The utilization of the production capacity, set at 400 thousand tons of styrene per year, has experienced a slight increase and is expected to maintain this level in the short term.

Previously, it was reported that Hanwha TotalEnergies Petrochemical, a major manufacturer of petrochemical products in South Korea, resumed styrene production at the Daesan complex in June 2023. This followed a period of scheduled repairs, during which the production, with a combined capacity of 650 thousand tons of styrene per year across both lines, had been temporarily halted on April 24.

Styrene, a key raw material in the production of polystyrene (PS) and acrylonitrile-butadiene-styrene (ABS), plays a crucial role in the plastics industry. The Daesan facility's resumed production aligns with Hanwha TotalEnergies Petrochemical's commitment to meeting market demands for these essential materials.

Hanwha Total Petrochemical, established in 2003 and headquartered in Seoul, South Korea, operates as a joint venture between Hanwha Corporation and Total S.A., each holding a 50% stake in the partnership. The company is engaged in the manufacturing of various petrochemical products, including polyethylene, polypropylene (PP), PP compounds, ethylene, propylene, benzene, and butadiene.

A significant milestone in the company's history occurred at the end of November 2014 when the Samsung Group, the largest South Korean conglomerate, announced the sale of a controlling stake in its four petrochemical and defense divisions for USD 1.72 billion. This stake was subsequently acquired by the Korean industrial conglomerate Hanwha Group. In light of this acquisition, Samsung Total Petrochemicals underwent a name change on May 1, 2015, becoming Hanwha Total Petrochemical.

The strategic decision to enhance the utilization of styrene production at the Daesan facility underscores Hanwha TotalEnergies Petrochemical's commitment to operational efficiency and adaptability in addressing technical challenges. The short-term outlook for sustained production at the elevated capacity reflects the company's agility in managing disruptions and ensuring a stable supply to meet market demands.

Hanwha TotalEnergies Petrochemical's move to increase the utilization of styrene production at its Daesan facility represents a strategic response to a technical breakdown. This decision aligns with the company's broader commitment to maintaining a robust presence in the petrochemical industry and meeting the evolving needs of the market for essential materials like styrene. As operations resume at an optimized capacity, Hanwha TotalEnergies Petrochemical remains positioned as a key player in the South Korean petrochemical landscape.