SK Global Chemical Plans to Restart Styrene Production in Ulsan

South Korea's SK Global Chemical is set to recommence operations at its styrene monomer plant in Ulsan, South Korea, following a period of closure for commercial repairs. The targeted restart date for the plant, with an annual production capacity of 450 thousand tons of styrene, is December 20. The repair activities, initiated on August 14, were initially anticipated to conclude in the second half of November.

In addition to the aforementioned facility, SK Global Chemical operates another styrene production plant in Ulsan, boasting a capacity of 350 thousand tons per year. The collective capacity of these plants positions SK Global Chemical as a significant player in the South Korean styrene production landscape.

South Korea hosts other notable styrene producers, including Lotte Chemical, LG Chem, and Hanwha Total Petrochemical, thereby contributing to the diversity and competitiveness of the regional market.

A previous report has highlighted SK Global Chemical's resumption of styrene monomer production in Ulsan, thereby focusing on preventive measures. The 450 thousand tons per year capacity plant underwent renovation work starting from October 23, 2022.

Styrene, a vital component in the production of polystyrene (PS), plays a crucial role in the petrochemical industry. SK Global Chemical, operating under the umbrella of SK Group, stands as a division of South Korea's pioneering oil refinery, which has been in operation for more than 50 years. With a global workforce exceeding 70,113 employees and a widespread presence in numerous offices, SK Group's primary enterprises center around petrochemical product manufacturing.

The forthcoming restart of SK Global Chemical's styrene monomer plant signifies a strategic move to enhance operational capabilities and meet market demand. Styrene's significance as a key raw material for polystyrene production underscores the critical role that SK Global Chemical plays in the petrochemical value chain.

As SK Global Chemical reenters the styrene production arena, its actions will not only impact the regional market but also contribute to the broader narrative of the petrochemical sector's evolution. The coordination of repair activities, preventive measures, and capacity adjustments exemplifies the industry's continuous adaptation to maintain efficiency and competitiveness.

South Korea's petrochemical landscape, enriched by the presence of major players such as SK Global Chemical, reflects a dynamic interplay of market forces, technological advancements, and strategic decisions. The upcoming revival of the Ulsan plant stands as a testament to the resilience and responsiveness required to navigate the complexities of the petrochemical industry in a globally connected market.