Petrochemical Business

Business Overview

In the Petrochemical Business, Maruzen Petrochemical, a Group company, provides a stable supply of petrochemical products as an ethylene center in the petrochemical complex it is part of. In addition, Hyundai Cosmo Petrochemical (HCP), a joint venture with Hyundai Oilbank (HDO), supplies competitive petrochemical products with its Asia-leading paraxylene manufacturing facility.

Business Strategy

In our Petrochemicals Business, we view the increase in demand for specialty chemicals, which is associated with the long-term increase of demand for semiconductors, as a business opportunity. With the increase in investments in data centers and demand for EVs, in addition to products for personal use such as PCs and smartphones, there is potential for new decarbonization technologies and products to emerge.

Identified Risks

  • High volatility of petrochemical product prices
  • Relaxation of supply and demand resulting from new construction/expansion of overseas plants
  • Sharp increase of raw material prices attributed to the Ukrainian crisis and the weaker yen, and planned power outages as a measure to address power shortages (fluctuation of the operations of the complex)


  • Long-term growth in semiconductor demand
  • Growth in demand attributed to the recovery of the global economy
  • Net zero carbon emissions
    (acceleration of the global move towards decarbonization)


  • Two ethylene production facilities, and ethylene production capacity that is among the largest in Japan
  • Promoting cooperation in oil refining with the Cosmo Oil Chiba Refinery (Petroleum Business) and cooperation between complexes
  • World-leading market share in polymers used in semiconductor photoresists

The strength of the Cosmo Energy Group lies in Maruzen Petrochemical and Keiyo Ethylene together as a single plant having the largest combined ethylene production capacity in Japan. We have increased the utilization rates of fractions as by-products (such as C4 and C5), as well as ethylene and propylene as mainstay products. Thus, we also have a large capacity to produce other by-products, including methyl ethyl ketone, for which we have the largest production capacity in Japan.

In addition, we have built an integrated supply chain encompassing the production of petrochemical products from naphtha as the main raw material to sales of the products in the complex via a pipeline. We are advancing a collaborative project to increase synergy with the Petroleum Business.

In the field of specialty chemicals, we boast a world-leading market share in polymers for semiconductor photoresists. Meanwhile, in the field of chemical products, we possess global niche products used in environmentally friendly products.