INEOS Oxide is to capitalise on the continuing global demand for vinyl acetate monomer (VAM) an essential chemical used to make paints, windscreens, fuel tanks, PVC and adhesives.
It plans to spend hundreds of millions of Euros building a new plant at one of its integrated European sites either in Saltend, Hull, Koln in Germany, or Antwerp in Belgium.
CEO Graham Beesley described it as an exciting project for INEOS.
“The demand for VAM in Europe continues to grow briskly but the market is currently uncomfortably reliant on imports from remote locations for sufficient supply,” he said. “Our new capacity is designed to plug the gap and improve supply dependability to our customer base.”
All three locations benefit from pipeline or terminal supply of the raw material ethylene, and low cost logistics for the other key raw material, acetic acid. In addition, all three are also well positioned to supply the VAM market efficiently.