The global demand for thermoplastics is expected to grow by around 100,000 tons by 2015, driven by the developing economies. Polyethylene comprises 35% of this market and polypropylene is 24%, according to leading market consultant Noru Tsalic of Applied Market Information (AMI). This is an annual increase of 5.6%.

To cope with economic slowdown, Formosa Petrochemical may ally with CPC Taiwan, its chief rival on the domestic market, as per Dow Jones Newswires. Formosa Petrochemical may sell propylene to CPC Taiwan, so as to boost the capacity utilization rate of its three olefin plants, currently at 86%.

Bio-Res, a patent pending product for the plastic molding market has been introduced by Laurel BioComposite LLC.