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The large number of new ethylene production capacity in the United States is difficult to digest
In recent years, companies around the world have invested in new cracking plants in order to take advantage of cheap ethane raw materials and invested in new cracking plants, which has led to an explosive increase
in cracker production capacity in the US Gulf of Mexico 。 Martin Brudermuller, CEO of BASF, said that the growth of domestic demand in the United States is unlikely to absorb such a large amount of new ethylene capacity, and can only hope for export markets; It will take some time for these large new ethylene capacity to be absorbed by the global market; However, the slowdown in global economic growth and trade tensions between China and the United States mean that these large amounts of new capacity cannot be absorbed by the market in a short period of time, causing the price and profitability of US ethylene industry chain products to fall to the lowest point
in nearly 30 years.
Europe's 2025 PET bottle recycling target is challenging
The recycling rate of polyethylene terephthalate (PET) bottles in Europe has increased from 58% in 2016 to 63%
in 2018.
In March, the European Parliament adopted the European Commission's recommended single-use plastics (SUP) directive: the industry must achieve a recycling rate of 77% by 2025 and 90% by 2029
.
But the rate of growth in recycling rates is declining
.
A study by ICIS shows that it will be difficult for Europe to meet the 2025 PET bottle recycling target
.
The number of recycled PET bottles is expected to grow by less than 4% per year between 2019 and 2020, and if this growth rate continues in the long term, the target will not be met
.
ICIS expects that the number of recycled PET bottles will need to increase by 7%
per year if it is to meet its 2029 target.
The list of the world's top 50 chemicals is freshly released
Recently, the US "Chemical and Engineering News" (C&EN) released the latest issue
of the list of the world's top 50 chemical companies.
DowDuPont topped the list with annual chemical sales of $86 billion; BASF ranked second in chemical sales of $74.
1 billion.
Sinopec Chemicals ranked third
in sales of US$69.
2 billion.
The list shows that the global chemical market grew strongly in 2018, with the top 50 chemical companies with a combined revenue of $926.
8 billion, an increase of 13.
4%
over sales in the same period last year.
However, the earnings of these 50 companies did not increase much, of which 23 reported profit declines, especially 6 of the 8 Japanese companies fell
in earnings.
The Asian lubricants market is accelerating the transformation of high quality
The Asia-Pacific region has a vast lubricant market, from high-quality lubricants with high market penetration to lubricants with low penetration
.
At the recent ICIS Asia Base Oils and Lubricants Conference in Singapore, Clariant Consulting project manager Singh said that since 2014, the growth of Asian lubricant market demand has slowed, driven by the dual impact of OEMs' recommendations for high-performance base stocks and increased supply of high-performance base stocks in the market, the Asian market is accelerating the shift to API class II and III base oils; At the same time, lubricant marketers are promoting the upgrading of lubricant quality levels, which has led to a rapid shift to high-quality base stocks
in the Asia-Pacific region.
