The developing world outside China cannot repeat China’s economic growth model because of climate change, ageing populations in the West and sustainability
Asian Chemical Connections
A fundamental shift in thinking on petrochemical plant closures
Environmental, social and political factors – along with integration into upstream petrochemicals – have held back plant closures. Now, things seems very different.
Details of how Saudi Aramco COTC and other advantaged feedstock projects could redraw the petrochemicals map
There is a big new wave of lower-carbon and very advantaged cracker projects on the way, including Saudi Aramco’s crude-oil-to-chemicals investments.
Overstocking may have boosted China PE demand as the US continues to win while others lose
THE US gains $296m in China HDPE sales as Asian and Middle East exporters lose $1.4bn.
Competing voices and the chemicals challenge of cutting carbon
We don’t have much time. We must act quickly to prevent potentially catastrophic social, political and economic damage from climate change.
Why PP producers need to shift from maximising volumes to adding value through sustainability
Why dig more oil and gas out of the ground to make petrochemicals when the carbon cost is potentially ruinous for our climate? This might be a question increasingly asked by legislators, shareholders and the general public – rightly or wrongly.
A flood of PP no matter how what the 2023-2025 demand growth
EVEN if China’s PP demand growth is 14% this year – double our forecast – and growth in other regions is higher than we expect:
Global capacity in excess of demand would be 18m tonnes in 2023 compared with a 8m tonne/year average in 2000-2022,
Your complete and updated outlook for global polyethylene in 2023
The strength of China’s post zero-COVID recovery in 2023 will be crucial, as will local operating rates as self-sufficiency further increases.
Another important factor: European gas supply next winter and the effect on local PE production.
Assessing confidence and the China PE demand recovery: More scenarios are needed
Scenario 2, my preferred scenario, would see China 2023 PE demand at approximately 38.5m tonnes – an average of 2% higher across the three grades than in 2022.
Cracker project announcements continue despite all-time high oversupply
Companies behind the crackers due on-stream over the next four years emphasise the low-carbon output. The planned new plant also have excellent economies of scale