ChemOrbis Europe Petrochemicals Conference: Feedstocks diversification to change landscape in global petchem industries
Jung reported that feedstocks diversification will change the landscape in global petrochemical industries. The US shale industry will remain robust due to low cost ethane while creating a significant competitiveness disadvantage for the European chemical industry. “Some West European producers have decided to refit their cracker units to process lighter feedstocks in order to remain competitive as the margins for traditional naphtha cracking are quite thin,” said Jung.
For China meanwhile, Jung reported that coal-based materials will gain market share both in ethylene and propylene production while prices and profitability will depend on oil vs. coal differential. He added that China will continue to be main driver of global petrochemicals and chemicals demand in the upcoming years while adding China’s lack of self-sufficiency for feedstocks and its dependence on foreign naphtha give it a disadvantaged cost position.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Firming PP trend falters in China’s local market
- European players question if bottom is near for PE
- Asian ABS players turn cautious after recent rally
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops
- Turkey’s PP market on par with China, LLDPE and HDPE trade at discount