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In a recently published report, Wood Mackenzie predicts the start of a downcycle in China’s petrochemical industry. A supply overhang has already hit the country’s paraxylene (PX) market, with olefins and polyolefins markets almost certain to face the same.
Chinese polyester market growth is expected to sit at just below 3% in 2020, a marked decline from the strong growth seen between 2018 and 2019. This dip in performance is mainly due to slashed growth for bottle-grade PET, according to Wood Mackenzie.
2019 has been a year of successes within the recycled PET (RPET) industry.
The global Biaxially Oriented Polypropylene (BOPP) film market has seen demand grow by just under 5% per annum over the last five years. The main driver of growth has been the demand for flexible packaging, particularly in China and South East Asia, according to Wood Mackenzie’s latest ‘BOPP Film Global Supply Demand Report’.
Airbags are a core and growing part of the industrial textile portfolio. Current global airbag yarn demand sits at 164 ktpa and is expected to reach 237 ktpa by 2025, according to a new report from Wood Mackenzie.
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.
Europe's flexible packaging market is predicted to achieve a compound annual growth rate (CAGR) of 2% over the next five years to reach over €16 billion in 2023.
Up to $3 billion in additional capital investment would be required to achieve current U.S. recycled plastics content goals by 2030, according to new analysis by Wood Mackenzie Chemicals
As spandex closes in on sales of 1 million tonnes, industry structures will change to meet competition from China and the challenge of closed-loop recycling, according to recent Wood Mackenzie Chemicals research.
A recent push for more investment in chemical recycling in the U.S. would allow recycled material to return to the value chain at the same level from which it started. However, according to Wood Mackenzie Chemicals, there needs to be multi-pronged investment efforts to improve comprehensive collection, sorting and recycle process technology in order to achieve a truly circular economy.
North America's market for value-added flexible packaging increased by 3.9% to US$25.3 billion in 2018, according to a new report from Wood Mackenzie Chemicals.
The total volume of PET bottles collected in West Europe during 2017 was near 2 Mt, compared to an estimated 3.2 Mt of bottles placed in the market, according to Wood Mackenzie Chemicals' latest report on the RPET market in West Europe.
Higher base chemicals demand and feedstock security for heavy naphtha are driving the development of a new wave of mega-integrated refinery and chemical sites in China. Private Chinese chemical producers, including Hengli and Rong Sheng, are back-integrating their chemical plants with refineries by building mega-integrated facilities. Wood Mackenzie expects these projects to come on stream in the next 12 to 24 months.
Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.
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