February 6, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Executives at LyondellBasell Industries NV (NYSE:LYB) (Rotterdam, Netherlands) say headwinds in the global Chemical Processing Industry are likely to persist in 2023, but they are optimistic about the company's prospects in the rapidly growing fields of oxyfuels, ethylene derivatives and plastics recycling. The potential is reflected in a series of U.S.-based projects, particularly along the Texas Gulf Coast.

Industrial Info is tracking more than $5.3 billion worth of active projects from LyondellBasell worldwide, almost all of which are based in the U.S. and Canada. Among LyondellBasell's most anticipated near-term goals is the start-up of its new PO/TBA unit at its complex in Texas, which is on track for the end of the first quarter. Executives also vowed the company would continue developing its plans for plastic waste sorting and recycling facilities in U.S., Germany, India and China.