LOTTE INEOS Chemical has announced plans to increase vinyl acetate monomer (VAM) production capacity from the current 450 kta to 700 kta with the addition of a third VAM plant. The new plant is scheduled to start-up by the end of 2025. VAM is widely used for everyday products such as food packaging, solar panels, windscreens, polarising films, adhesives and paints. In recent years VAM demand has increased significantly to meet global solar power generation. LOTTE INEOS Chemical has purchased additional land next to the existing plant in Ulsan, South Korea, for the construction of the new VAM plant, and has begun the front-end engineering design (FEED) work with LOTTE Engineering & Construction.