By John Richardson WE NOW HAVE an agreement amongst 175 countries, reached in Nairobi in Kenya last week, to develop a legally binding treaty to deal with plastic waste. This was something I called for last year. At the time I said we needed global limits on plastic waste that would be as important for […]
Asian Chemical Connections
Petrochemicals transition to Net Zero to result in new margin and cost curve drivers
The petrochemicals or chemicals (depending what you prefer) transition to Net Zero is both connected and different from the energy transition for reasons I’ll detail in a series of blog posts, starting today with a few headline thoughts on how global margin and cost curve positions my change over the next few years – and […]
Ten drivers of global polyethylene demand in 2022
By John Richardson I AM AFRAID a long pre-amble, the essential context, is necessary in today’s post on polyethylene (PE) before I get to the core point: demand could be weaker in 2022 than in 2020 and 2021, the opposite of what some PE companies predicted during the release of their Q4 results. Or it […]
Carbon and plastic waste: sorting workable solutions from the confusion and complexity
By John Richardson THE GREAT NEWS, as I discussed last month, is that the more 100 countries, including the US, are thought to favour a treaty being proposed at the next UN Environment Assembly that would set targets for reducing plastic waste in the environment. A date in has now been set for the meeting […]
Calling all petchem C-suites: Key summary of China risks and opportunities
By John Richardson AS ALL THE CLAMOUR builds about inflation and rising energy costs – and absolutely, of course, these are major challenges which I shalll address in later posts – there’s a danger the petrochemicals industry will lose focus on charts such as the one above, courtesy of the pH Report. I am still […]
Global polymers and sustainability: how the industry could change over the next decade
By John Richardson MORE THAN 100 countries, including the US, are thought to favour a treaty being proposed at the next UN Environment Assembly in February and March that would set targets for reducing plastic waste in the environment, according to the BBC. I see this as great news, a step forward, as I was […]
China HDPE negative 2021 growth, declining imports underline need for new business model
By John Richardson Following on from my post on Wednesday, please study the quite remarkable chart below, and, if you are not making Common Prosperity the very centrepiece of your strategic planning process, ask yourself, “Why not?”. Then please, please change direction before it’s too late. What you can see are the ICIS estimates for […]
Petrochemicals health warning: beware of vanishing feedstocks
By John Richardson NEW STEAM cracker projects are still being announced on the assumption that they will still be needed 20 years and more from now – well beyond full depreciation. One could argue this is reasonable given that it took some 50 years, from the introduction of the Model T to the development of […]
Benzene, the need for a new global Industrial Revolution and the big challenges that lie ahead
By John Richardson THE CHART BELOW shows that 60% of global benzene production in 2021-2040 is forecast to be made via technologies linked to refining units that also make gasoline components. The 60% includes a 33% share for catalytic reformers that make toluene, mixed xylenes (MX) and benzene, referred to collectively as reformate. In the […]
Global polyethylene could move from inflation to deflation by as early as Q1 2022
By John Richardson THE BALTIC DRY INDEX, one of the excellent barometers of overall economic activity, was late last week at its lowest level since June on a slowing Chinese economy, easing congestion at Chinese ports and a fall in Chinese coal imports (more on this in a moment). “The index was around 1,000 a […]
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