Chinese polypropylene exports more than doubled from 2022 to 2025 as SCG Chemicals and PTT Global Chemical proposed combining their Thai operations in a venture valued at $5.5 billion.
The combined businesses carry a valuation of 187 billion baht. The deal covers the firms' Thai production of olefins and polyolefins, materials used in plastics and other industrial goods; SCG Chemicals would receive a 44% stake.
At a Ho Chi Minh City summit Nov. 3, Siam Cement Group CEO Thammasak Sethaudom said SCG must adapt to Chinese overcapacity, calling it a “fact of life.” He linked scale to regional reach, urging producers to seek customers across ASEAN.
China exported 3.1 million metric tons of polypropylene in 2025, up from 1.3 million in 2022. Shareholders are due to vote on the proposal Dec. 3.
