European olefins production: could 2020 top 2019 despite coronavirus?

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Europe saw 20-year lows in olefins production in 2019. Despite potential demand destruction from coronavirus, 2020 could show a recovery in production, as turnaround schedules lighten, and competitive naphtha prices make Europe’s cracker fleet becomes more competitive. This insight will examine four key drivers to understand the direction of 2020 production - outages, cash costs, trade and the coronavirus. Read on to understand the key drivers in more detail.

Table of contents

  • European olefins production in the rear-view mirror
  • 1) Outage activity in 2020 less than half 2019 – boosts production
  • 2) Naphtha comes back as a competitive feedstock – boosts production
  • 3) Lower feedstock costs allowing competitive exports and reducing imports – boosts production
  • 4) Economic shock and uncertain demand for olefins – lowers production
  • Conclusions

Tables and charts

This report includes 4 images and tables including:

  • Year-on-year percentage change in total European olefins production
  • European ethylene capacity lost from planned and unplanned outage activity
  • Average European naphtha prices in Euros per ton
  • Net European olefins (ethylene and propylene) trade

What's included

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    European olefins production: could 2020 top 2019 despite coronavirus?

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