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The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”
Plastic packaging redesign, which includes elimination, substitution and reuse approaches, could reduce global plastic packaging demand in 2050 from 190MT to 150MT, according to a new analysis from Wood Mackenzie’s Cross-Polymer Demand Model.
Last month’s winter storm paralysed the US petrochemical industry. Operations at US Gulf Coast petrochemical facilities have yet to fully recover one month after freezing temperatures triggered wide-spread power outages and plant shutdowns.
As the US deals with this week’s winter storm, refining and petrochemicals outages could have an impact on the global polyester chain, according to Wood Mackenzie.
Wood Mackenzie recently contributed to a landmark study by the Minderoo Foundation, The Plastic Waste Makers Index: Revealing the source of the single-use plastics crisis. By following the materials and the money involved, we wanted to track the production of the polymers destined for single-use plastics, assess how much ends up as waste and explore the future of the industry.
The Chemicals and Polymers Conference discussed base chemical and polymer markets, emerging technologies, and discussions on the hot topics facing the industry.
Polymer value chains currently account for 4% of energy related GHG emissions, and this figure is set to rise to 10% by 2050 as plastic demand rises to meet the needs of the rising global middle-class.
After another rollercoaster year that trampled on predictions, the annual APAC Energy Buzz ‘cheerful or fearful’ outlook is back.
Key themes to watch for the polyester chain, from growing overcapacity to prices, margins and supply chain woes – and the quest for greater sustainability.
The invasion of Ukraine has had an immediate effect on the global economy and markets. What are the lasting implications for commodities?
In 2021 our global analysts created an outstanding body of research, putting a unique angle on everything from Covid-19 and COP26 through the recovery of commodity markets and rising geopolitical risk.
Only certain types of plastic can be handled by existing mechanical processes. Could emerging technology such as feedstock recycling, chemical depolymerisation and solvent purification offer a solution?
Tracking asset economic performance through the propylene downcycle.
How can the industry prepare for the cycle, and which polypropylene producers are best placed to withstand the market’s peaks and troughs?
A strong correlation between GDP and plastics demand growth means that macroeconomic conditions have a significant impact on the chemicals industry.
Clear and robust legislation is vital if the fragmented plastics economy is to find a sustainable pathway – the UN treaty on plastic pollution will play a central role.
The textiles and packaging sectors may soon be in fierce competition for limited supplies of recycled PET to meet their sustainability targets
A recap of the hottest topics of discussion at EPCA 2022
Downstream chemical markets face a downbeat start to 2023 – long on supply, short on demand. But will demand recovery bring some much-needed relief to producer margins?
In the build up to COP27, countries around the world made pledges to reach net zero around the middle of the century. How are they all faring on those pledges and is the world is on track for a 1.5c pathway?
Upgraded decarbonisation targets present a huge challenge for marine fuels
Watch our exclusive video to discover how Wood Mackenzie's Long-Term Products Markets Service helps industry leaders stay ahead of unprecedented market disruption.
Steve Jenkins, vice president of Wood Mackenzie’s petrochemicals team, comments on this morning’s announcement from BP that it is selling its petrochemicals business to INEOS in a US$5 billion deal.
Approximately 15% of ethane-based ethylene supply in the Middle East could be lost this year due to oil supply dynamics, according to new analysis from Wood Mackenzie. This equates to around 1.5 million tons of ethylene.
Europe saw a 20-year low in olefins production in 2019. Despite the coronavirus hitting demand, 2020 could show a recovery in production.
Commenting after Shell announced its intention to become net-zero company by 2050, Luke Parker, vice president, corporate analysis, at Wood Mackenzie, said: “This is an evolution of the net carbon footprint ambition that Shell unveiled in November 2017.
The UK currently recovers or recycles just under 50% of plastics packaging, making it a middling performer in European terms
Wood Mackenzie expects the combined capacity expansion of base olefins - ethylene, propylene and butadiene - to hit unprecedented levels of around 20 million tonnes in 2020. This represents an increase of 6% on 2019 levels.
Meeting current US recycled plastics content goals by 2030 would significantly alter the region's PET resin and upstream aromatics markets, according to a recent analysis from Wood Mackenzie.
Motiva, a 100%-owned subsidiary of Saudi Aramco, has signed an agreement to acquire full ownership interest in Flint Hills Resources Port Arthur, LLC.
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