Phenol and acetone: Production
How China doubled output and Europe started closing
What this tab covers Who makes it and how much: world capacity and output, utilisation, the top producing countries and companies globally and in India, concentration, new capacity coming, and each region's position.| Measure | Figure | Detail | Source |
|---|---|---|---|
| World capacity | about 15-16 Mt/yr phenol world (indicative); China 7.19 Mt/yr (late 2025) | OPIS, Dec 2025 (China); world indicative | |
| World output | about 12.5 Mt phenol (2024, indicative) | indicative | |
| Capacity utilisation | about 75-80% (indicative) | China phenol plants ran at 76.7% in the first three weeks of December 2025 (OPIS). Europe's acetone plants ran at 60-70% in 2025, and US rates were in the low 70s% (S&P Global). | OPIS, Dec 2025; S&P Global, H1 2026 |
| Concentration | China about 46%; top three regions about 70% (indicative) | INEOS Phenol describes itself as the largest global producer (S&P Global). Other leaders: Sinopec, Mitsui Chemicals, Kumho P&B, Chang Chun, Formosa, Wanhua, Lihuayi, ZPC and Hengli. | S&P Global 2025; indicative |
| New capacity | China about 680 kt/yr in 2026; India about 650 kt/yr by 2027 | China: about 680 kt/yr of new phenol in 2026 including PetroChina Jilin 250 kt/yr (S&P Global). India: Haldia Petrochemicals 350 kt/yr (end-2026, S&P Global) and Deepak 300 kt/yr (Deepak annual report). Closures: INEOS Gladbeck 650 kt/yr total product (2025 announcement). | S&P Global H1 2026; Deepak 2024-25; S&P Global Jun 2025 |
Top producing countries
China 46% · 7.19 Mt/yr (2025); 6.6 Mt/yr in 2024 and 3 Mt/yr in 2019 United States 12% · not published in sources reached Western Europe 12% · shrinking; Gladbeck 650 kt/yr closing South Korea 8% · not published in sources reached Taiwan 6% · not published in sources reached Singapore and Thailand 5% · supplied about 62% of India's phenol imports in Jan-Sep 2025 OPIS, Dec 2025; Argus, May 2025; share against indicative 15.5 Mt; indicative share; S&P Global, Jun 2025; share indicative; OPIS, Dec 2025; share indicativeLargest producers: global
| Company | Country | Volume | Year | Source |
|---|---|---|---|---|
| INEOS Phenol self-described largest producer; closing Gladbeck (650 kt/yr total product) | UK/Germany | not published | 2025 | S&P Global, Jun 2025 |
| Hengli Petrochemical (Dalian) | China | 0.42 Mt/yr phenol | 2026 | OPIS, May 2026 |
| PetroChina (Jilin) added unit | China | 0.25 Mt/yr phenol (new unit) | 2026 | S&P Global, H1 2026 |
| Shandong Ruilin Polymer Material commissioning | China | 0.217 Mt/yr phenol | 2026 | OPIS, Dec 2025 |
| Sinopec not published | China | not published | 2025 | indicative |
| Mitsui Chemicals Japan and Singapore sites; not published | Japan | not published | 2025 | indicative |
| Kumho P&B Chemicals not published | South Korea | not published | 2025 | indicative |
Largest producers: India
| Company | Country | Volume | Year | Source |
|---|---|---|---|---|
| Deepak Phenolics (Deepak Nitrite) new plant within about Rs 3,500 crore approval; existing Dahej plant capacity not given in source | India | 0.3 Mt/yr new phenol capacity (plus 185 kt/yr acetone, 100 kt/yr IPA) | 2025 | Deepak Nitrite annual report 2024-25 |
| Haldia Petrochemicals forecast start by end-2026 | India | 0.35 Mt/yr phenol | 2026 | S&P Global, H1 2026 |
| Hindustan Organic Chemicals (HOCL, Kochi) small state-owned producer; capacity not published in sources reached | India | not published | 2025 | indicative |
India relies heavily on imports, with Singapore and Thailand supplying nearly 62% in January-September 2025 (OPIS). Domestic producers filed anti-dumping petitions on phenol and acetone in late 2025. New Deepak and Haldia capacity should cut import dependence from 2026-2027.
Position by region
| Region | Position |
|---|---|
| US | Flat demand into 2026, operating rates in the low 70s% (S&P Global); US exporters face an Indian anti-dumping investigation. |
| EU | Demand down nearly 30% since 2019; Gladbeck closure for energy costs, CO2 costs and Chinese imports (S&P Global). |
| India | Import-dependent but adding about 650 kt/yr; anti-dumping investigations on phenol and acetone from late 2025 (OPIS). |
| China | 7.19 Mt/yr; import parity about $679/t before duties in December 2025 (OPIS); now close to self-sufficient. |
| Japan | Mitsui Chemicals the main producer; mature market. |
| Middle East | Saudi phenol imports rose 25% in the first eight months of 2025 (S&P Global). |