Asia top stories – weekly summary
ICIS Editorial
29-May-2023
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 25 May 2023.
NE
Asia ethylene plummets; spread against naphtha
narrows
By Yeow Pei Lin
26-May-23 12:21 SINGAPORE (ICIS)–Northeast
Asia’s ethylene import prices on 25 May fell to
levels last seen in January, pummelled by
plentiful supply and slack downstream demand.
PODCAST: Rampant China
chemicals overcapacity could rebalance by
2024/5
By Will Beacham 25-May-23 21:00 BARCELONA
(ICIS)–Excess capacity plaguing China’s
petrochemical markets could return to more
balanced conditions by 2024/5 as the current
wave of additions ends and demand gradually
improves.
Nippon Shokubai launches Indonesia AA plant;
signs green chems deal with Chandra
Asri
By Pearl Bantillo 5-May-23 13:49 SINGAPORE
(ICIS)–Japanese producer Nippon Shokubai has
inaugurated its new acrylic acid (AA) plant in
Indonesia and has signed an initial deal with
local producer Chandra Asri Petrochemical to
explore green chemical business opportunities.
APIC ’23: INSIGHT: Asia petrochemicals
navigate poor demand amid China start-ups;
carve ‘green’ path
By Pearl Bantillo 24-May-23 19:50 SINGAPORE
(ICIS)–Uncertainties will hound Asia’s
petrochemical markets for the rest of the year
and possibly into 2024 amid the global economic
slowdown at a time of strong capacity additions
in regional powerhouse China.
INSIGHT: APIC ’23: Rapid capacity expansion
poses risks for Asia’s synthetic rubber
industry
By Ann Sun 23-May-23 13:36 SINGAPORE
(ICIS)–China’s reopening brings some hope to
global synthetic rubber demand, but China-led
capacity expansion is putting the synthetic
rubber industry in the region at risk with
overcapacity a growing concern.
APIC ’23: INSIGHT: Asia phenol, acetone
capacity expansion cycle to peak in
2023
By Jenny Yi 23-May-23 11:57 SINGAPORE
(ICIS)–Asia’s phenol and acetone capacities
entered a new round of expansion cycle in the
second half of 2020 and will reach its peak in
2023, which can be regarded as a record wave of
capacity increase in the markets’ history.
INSIGHT: Rapid olefin capacity growth
in China intensifies Asia supply-demand
imbalance
By Amy Yu 22-May-23 19:35 SINGAPORE(ICIS)–
China ethylene capacity is expected to exceed
50m tonnes/year in 2023, with a compound annual
growth rate (CAGR) of 18% from 2019 to 2023.
INSIGHT: APIC ’23: Asia petrochemicals
industry needs to recalibrate for sustainable
growth
By Nurluqman Suratman 22-May-23 14:20 SINGAPORE
(ICIS)–Industry leaders at the Asia
Petrochemical Industry Conference (APIC) in
India last week were fully focused on one topic
– sustainability – as the region battles to
meet the needs of its fast-growing population
with future net-zero targets.
INSIGHT: Rapid olefin capacity growth
in China intensifies Asia supply-demand
imbalance
By Amy Yu 22-May-23 19:35 SINGAPORE(ICIS)–
China ethylene capacity is expected to exceed
50m tonnes/year in 2023, with a compound annual
growth rate (CAGR) of 18% from 2019 to 2023.
VIDEO: China PP prices plummet to three-year
low; late-Q2 pressure likely
By Zhibo Xiao 23-May-23 11:26 SINGAPORE
(ICIS)–In this video, ICIS Industry Analyst
Zhibo Xiao discusses the polypropylene (PP)
market in China and how its sluggishness is a
result of weak demand and increasing supply.
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