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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.
On 19 January, China's National Development and Reform Commission and the Ministry of Ecology and Environment announced policies aimed at restricting production, sale, and use of single-use plastic products.
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.
Spot prices of monoethylene glycol (MEG) and polyethylene (PE) have spiked in Asia, following news of the drone attacks on oil facilities in Saudi Arabia over the weekend. These two commodities are the two main chemical exports of the region.
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.
SP Olefins, a subsidiary of SP Chemicals, successfully started up its 650 ktpa steam cracker and was able to produce on-spec olefins.
Sinopec will take over the 800-ktpa coal-to-olefins (CTO) project in Erdos from State Power Investment Mengxi Energy.
Saudi Aramco is to set to take a 20% stake in Reliance Industries' refining and petrochemical businesses.
On 7th August 2019, Huntsman Corporation announced that it has entered into a definitive agreement to sell its chemical intermediates businesses to Indorama Ventures. The total deal is valued at $2.076 billion.
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.
According to research by Wood Mackenzie, Chinese textile producers are increasing production as fears grow that the trade war with the US will hurt exports of apparel and other textile products as soon as the fourth quarter of 2019.
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
Chevron Phillips Chemical (CP Chem) and Qatar Petroleum today announced that they have signed an agreement to jointly pursue the development of a new petrochemical complex on the US Gulf Coast.
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.
Qatar Petroleum today announced the selection of Chevron Phillips Chemical Company as its partner for a new ethylene and derivatives complex, which will be constructed in Ras Laffan Industrial City, Qatar
Chevron Phillips (CPCHEM), a JV between Chevron and Phillips 66, has made a US$15 billion bid to acquire Nova Chemicals, owned by UAE-based Mubadala.
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.
INEOS is to spend $2bn building 3 chemicals plants in Saudi Arabia. Commenting on the news, Wood Mackenzie Chemicals Principal Analyst, Patrick Kirby, said:
The global BOPET film market has seen demand grow by 6.7% p.a. over the last 5 years and now sits at just over 5 million tonnes, according to new research from Wood Mackenzie Chemicals.
Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in on what this means for the different sectors.
Saudi Aramco’s decision to issue a $10 billion bond underscores how serious the company is about transforming itself into an international powerhouse across the oil and gas value chain, from upstream to petrochemicals.
The European Union's (EU) proposal to introduce a 90% collection target for PET beverage bottles by 2029 is unlikely to be met without significant investment in infrastructure and waste management collection, according to Wood Mackenzie Chemicals.
The U.S. petrochemicals industry is experiencing an investment renaissance, Steve Zinger, Wood Mackenzie Chemicals Senior Vice President, said during his appearance at AFPM's 2019 International Petrochemical Conference.
Amazon’s decision to move towards lightweight flexible plastic mailers over its traditional cardboard boxes will likely set a trend for the rest of the industry, according to Wood Mackenzie Chemicals’ recent ‘Q1 2019 Flexible Packaging Global Market Overview’.
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