Petrochemical shock hits India's pharma, tiles and textiles: prices up 30–35% in 20 days. – Industry & Global Market News Digest, 23 Mar 2026

Geopolitics & conflict

Petrochemical shock hits India's pharma, tiles and textiles: prices up 30–35% in 20 days.

Iran conflict drives pesticide costs up 30%: Kharif farmers face the worst of it.

West Asia war cuts leather orders in half: freight at $2,000 a container and rising.

Hormuz blockade pushes Thai plastic resin prices up 40%: packaging crisis threatens food and pharma.

Korean crackers shut as naphtha hits $1,068 a tonne: government invokes emergency supply powers.

Naphtha crunch cascades from Korean crackers to ships, steel and biopharma: supply chain crisis declared.

Hormuz disruptions reach Patna's markets: electronics repairs stall as microchip and plastic costs surge.

Trade & policy

PLI scheme draws Rs 41,943 crore in pharma investment: exports top Rs 2,15,248 crore.

Norway misses 50% plastic packaging recycling target by 16 points: formal infringement procedure opens.

Markets & pricing

Sinopec net profit falls 36.8% in 2025: weak petrochemical margins and EV substitution take the blame.

OMV chemicals division surges 71% even as $60 billion merger stalls on CEO deadlock.

Archean Chemical leads BSE 'A' group gainers with 2.10% rise: volume exceeds 20-day average.

Sustainability & recycling

TotalEnergies starts France's first advanced plastics recycling plant: 15,000 tonnes a year from Grandpuits.

Total and Plastic Energy announce France's first chemical recycling plant: 30% recycled polymers targeted by 2030.

Indorama backs Brazil's Guardiãs do Mar ocean plastic project: 160 billion bottles recycled and counting.

Odisha entrepreneur makes bio-degradable bags up to 5 kg: 20 to 30 families benefit from Sonepur unit.

Innovation & technology

NuScale and Ebara Elliott target 500°C nuclear process steam for petrochemicals: compressor due by 2027.

GFL and Navin Fluorine pivot to battery and semiconductor materials: Rs 6,000 crore capex targets $681 billion market.

Tamil Nadu tyre makers invest Rs 12,000 crore near Chennai: premium radials and export capacity drive the shift.

Reactive extrusion and FTIR unlock polymer upcycling with up to 50% recycled content: Thermo Fisher shows how.

ExxonMobil and Reifenhäuser achieve 35% PCR content in stretch hood film: household waste turned performance packaging.

Corporate moves

LG Chem winds down India life sciences unit: liquidation starts March 17 as global restructuring bites.

Sumitomo Chemical India loses manufacturing VP: Yoshihisa Inoue deputation ends March 31.