A petrochemicals world dominated by Supermajors, especially those running COTC plants, or one where greater regional cooperation (more on this in later posts) and increased protectionism allow older, smaller and less carbon efficient plants to survive.
Asian Chemical Connections
SHORT-TERM tactics should involve maximising returns within regions along with a greater focus on exports anywhere in the world
You might think it impossible for China to reach complete self-sufficiency in PE, PP, EG and PX. History suggests otherwise.
The developing world outside China cannot repeat China’s economic growth model because of climate change, ageing populations in the West and sustainability
Environmental, social and political factors – along with integration into upstream petrochemicals – have held back plant closures. Now, things seems very different.
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.
HOW many PP company CEOs saw this coming, and what their plan now?
THE US gains $296m in China HDPE sales as Asian and Middle East exporters lose $1.4bn.
CHINA’S PP demand could grow by only 1% this year, while major producers saw their January-August 2023 sales in China decline by $796m versus the same months last year.
CHINA’S polyethylene demand growth in 2023 looks set to be flat over last year versus earlier forecasts of a 1.7m tonnes increase.