Formosa Plastics Group's Four Major Companies See March Revenue Increase Year-on-Year and Month-on-Month, Totaling NT$141.5 Billion
The combined March revenue of Formosa Plastics Group's four major companies (Formosa Petrochemical, Formosa Plastics, Nan Ya Plastics, and Formosa Chemicals & Fibre) reached NT$141.5 billion, showing increases both year-on-year and month-on-month. Formosa Petrochemical's revenue grew due to fluctuating international oil prices, particularly the impact of the US-Iran conflict and the blockade of the Strait of Hormuz. Nan Ya Plastics recorded its highest revenue in nearly 43 months since September 2022, driven by the expanding AI market and increased demand for mid-to-high-end electronic materials. Formosa Plastics and Formosa Chemicals & Fibre also saw revenue growth from increased shipments after the Lunar New Year holiday and rising crude oil prices.
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- 📰 Published: April 10, 2026 at 15:34
- 🔍 Collected: April 10, 2026 at 16:00 (26 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 18:37 (122h 37m after Collected)
Formosa Petrochemical, at the upstream of the petrochemical industry chain, is most directly affected by changes in international oil prices. Formosa Petrochemical announced today that its March revenue was NT$63.321 billion, a 7.8% year-on-year increase and a 39.2% month-on-month increase.
Formosa Petrochemical explained that the increase in March revenue was mainly due to selling prices. The outbreak of the US-Iran war and the blockade of the Strait of Hormuz led to an energy crisis. The average price of Dubai crude oil in March was US$128.5 per barrel, a significant increase of US$60.1 per barrel compared to February. Due to Formosa Petrochemical's cooperation with the government's oil price stabilization mechanism, the amount absorbed for domestic oil sales significantly increased compared to February, and the average price of all products increased by US$40.7 per barrel compared to February.
In terms of sales volume, for the olefin business, due to the obstruction of shipping in the Strait of Hormuz, ordered naphtha did not arrive as scheduled, leading to the shutdown of the third naphtha cracker (OL#3) on March 24. The ethylene plant utilization rate in March was 48%, a decrease from 56% in February.
For the other three companies, Formosa Plastics' March revenue was NT$17.354 billion, a 1.5% year-on-year increase and a significant 61.6% month-on-month increase compared to February.
Formosa Plastics explained that both sales volume and price increased in March compared to February. In terms of sales volume, February coincided with the Lunar New Year holiday, resulting in fewer shipping days and some downstream processing plants suspending operations, leading to reduced demand for petrochemical products. In addition, due to cooperation with CPC Corporation's natural gas pipeline construction and the shutdown of the fourth naphtha cracker, all plants in the southern factory area were scheduled for annual maintenance, resulting in reduced production and sales. The outbreak of the US-Iran war at the end of February increased the risk of material shortages, prompting customers to actively replenish inventory. The total sales volume of Formosa Plastics' major products in March increased by 134,000 tons compared to February.
Nan Ya Plastics' March revenue was NT$27.17 billion, an 18.1% year-on-year increase and a 46.4% month-on-month increase, reaching a new high in nearly 43 months since September 2022.
Nan Ya Plastics explained that electronic materials products account for over 50% of revenue. Benefiting from the continuous expansion of the AI market, the tight supply of mid-to-high-end materials has led to a gradual tightening of general electronic materials supply. Coupled with increased demand for consumer electronics and material upgrades, this has driven a significant increase in sales volume and price for Nan Ya's copper clad laminates, ABF substrates, copper foil, and glass fiber cloth products, leading to substantial revenue growth.
Formosa Chemicals & Fibre's March revenue was NT$33.728 billion, a 21.6% year-on-year increase and a 46.8% month-on-month increase.
Formosa Chemicals & Fibre explained that February had fewer operating days due to the Lunar New Year holiday, and in March, customers gradually resumed work, driving an increase in sales volume. In terms of selling prices, affected by the US and Israeli military conflict with Iran, crude oil prices rose sharply, driving up the prices of petrochemical and plastic products. (Edited by: Chang Chun-mao) 1150410
Formosa Petrochemical explained that the increase in March revenue was mainly due to selling prices. The outbreak of the US-Iran war and the blockade of the Strait of Hormuz led to an energy crisis. The average price of Dubai crude oil in March was US$128.5 per barrel, a significant increase of US$60.1 per barrel compared to February. Due to Formosa Petrochemical's cooperation with the government's oil price stabilization mechanism, the amount absorbed for domestic oil sales significantly increased compared to February, and the average price of all products increased by US$40.7 per barrel compared to February.
In terms of sales volume, for the olefin business, due to the obstruction of shipping in the Strait of Hormuz, ordered naphtha did not arrive as scheduled, leading to the shutdown of the third naphtha cracker (OL#3) on March 24. The ethylene plant utilization rate in March was 48%, a decrease from 56% in February.
For the other three companies, Formosa Plastics' March revenue was NT$17.354 billion, a 1.5% year-on-year increase and a significant 61.6% month-on-month increase compared to February.
Formosa Plastics explained that both sales volume and price increased in March compared to February. In terms of sales volume, February coincided with the Lunar New Year holiday, resulting in fewer shipping days and some downstream processing plants suspending operations, leading to reduced demand for petrochemical products. In addition, due to cooperation with CPC Corporation's natural gas pipeline construction and the shutdown of the fourth naphtha cracker, all plants in the southern factory area were scheduled for annual maintenance, resulting in reduced production and sales. The outbreak of the US-Iran war at the end of February increased the risk of material shortages, prompting customers to actively replenish inventory. The total sales volume of Formosa Plastics' major products in March increased by 134,000 tons compared to February.
Nan Ya Plastics' March revenue was NT$27.17 billion, an 18.1% year-on-year increase and a 46.4% month-on-month increase, reaching a new high in nearly 43 months since September 2022.
Nan Ya Plastics explained that electronic materials products account for over 50% of revenue. Benefiting from the continuous expansion of the AI market, the tight supply of mid-to-high-end materials has led to a gradual tightening of general electronic materials supply. Coupled with increased demand for consumer electronics and material upgrades, this has driven a significant increase in sales volume and price for Nan Ya's copper clad laminates, ABF substrates, copper foil, and glass fiber cloth products, leading to substantial revenue growth.
Formosa Chemicals & Fibre's March revenue was NT$33.728 billion, a 21.6% year-on-year increase and a 46.8% month-on-month increase.
Formosa Chemicals & Fibre explained that February had fewer operating days due to the Lunar New Year holiday, and in March, customers gradually resumed work, driving an increase in sales volume. In terms of selling prices, affected by the US and Israeli military conflict with Iran, crude oil prices rose sharply, driving up the prices of petrochemical and plastic products. (Edited by: Chang Chun-mao) 1150410