Braskem Q3 recycled resin, chemical sales up 277% on year

Brazilian petrochemical producer Braskem's recycled resins and chemicals global sales reached 5,287 mt in the third quarter of 2021, a jump of 277% on the year and 31% on the quarter, it said Nov. 10.

In Brazil, recycled resins sales were 2,877 mt in Q3, up 655% year on year and 896% quarter on quarter, the company said in its earnings release.

The growth was mainly due to the higher number of clients and advances in expanding the portfolio of resins with recycled content. For chemicals, Braskem said the increase was due to the inclusion of other recycled chemicals in the portfolio.

Green chemical sales in Brazil were 465 mt in the latest quarter, up 13% on the year and 11% on the quarter.

In the US and Europe, resins sales were 594 mt, up 83% year on year, and down 2% quarter on quarter, it said.

In Mexico, sales were 1,350 mt in the Q3, up 374% year on year and down 12% quarter on quarter given the higher competitiveness of virgin resin imports, especially from Asia. Compared with 3Q 2020, the increase reflected the economic recovery after pandemic impacts and the resumption of recycling projects, Braskem said.

Braskem said sales of green polyethylene, resin made from the feedstock ethanol, were lower by 18% on the year and 13% on the quarter at 34,786 mt.

The Green Ethylene utilization rate was 106% in Q3, compared with 105% in Q2 and 79% compared with the same period in 2020. According to the company, higher operating utilization was the result of restarting of operations after the scheduled maintenance shutdown in the period.

Braskem said it registered record monthly green ethylene production in August.

"And, for the second time, a quarterly production record," it said.

Sales were mostly concentrated in Europe (51%), followed by Asia (29%), Brazil (15%), North America (5%) and South America (1%).