The global polymer foam market (2016-2021) is estimated to reach US$171.96 bln by 2021 at a CAGR of 8.5%. Environment regulations set for different industry sectors, such as building & construction, furniture & bedding, packaging and other sectors facilitate the growth of foams, as per Research and Markets.
LUKOIL and SNF Floerger break ground for polymer plant in Russia
LUKOIL and SNF Floerger have broken ground for a polymer plant in Russia. The plant will be constructed in close proximity to LUKOIL's petrochemical facility to reduce costs for transportation of feedstock and end products, as per Hydrocarbon Processing?.
The foundation stone has been laid in Saratov, Russia for the future plant of OOO SNF Vostok (part of SPSM S.A., a holding that owns companies of SNF Group) to produce polymers from acrylonitrile. As the only producer of acrylonitrile in Russia, OOO Saratovorgsintez, a wholly-owned subsidiary of PJSC LUKOIL-will supply feedstock to the future facility of SNF Vostok for the production of polymers that will be used by LUKOIL to enhance oil recovery rates of its fields.
The construction of the polymer plant in a close proximity to LUKOIL's petrochemical facility will reduce costs for transportation of feedstock and end products, as well as facilitate the import substitution of considerable volumes of chemicals.