Posts for the ‘Petrochemicals’ category

Kristen Hays
Global market lead, polymers

Shale-fueled US plastics boom puts spotlight on sustainability

October 16, 2019 09:29 UTC

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Virgin plastic production is thriving in the US, fueled by the North American shale boom. But the reversal of fortune for the US chemical industry has highlighted a bigger challenge amid widespread concern about plastic waste and sustainability.

The growth of shale activity across the US unearthed ethane feedstock so cheap that a region that had been facing naphtha-fed plant shutdowns and petrochemical imports saw the cost advantage of home-fracked gas shaping its future as a global petrochemical supplier.

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PET, petrochemicals, plastics, recycling, shale, sustainability

Luke Milner and Ben Brooks
Editors, EMEA petrochemicals

Europe’s plastic recycling drive pits consumer demand against economic realities

October 9, 2019 15:24 UTC

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Recognition of plastic waste as a global problem has spurred legislation and industry initiatives in the last two years, and driven growth in demand for recycled plastics.

When it comes to developing recycling as a sustainable business, Europe leads the way, and in particular the market for polyethylene terephthalate (PET), best known as the material of choice for plastic drinks bottles. But the evolution of PET and recycled PET (R-PET) markets in 2019 highlighted underlying concerns around profitability and cost, as price trends shifted with changing demand patterns.

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EU, PET, plastics, recycling, sustainability

Charlie Uribe
Senior specialist, petrochemicals pricing

Colombia halves major store plastic bag consumption, ramps up deterrents

August 23, 2019 10:36 UTC

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Colombia’s consumption of single-use plastic bags at major stores more than halved in the past 18 months and the government is mulling greater deterrents to their use, as the outlook for applications of plastics and petrochemicals grows gloomier in the South American country.

A program promoted by Colombia’s Ministry of Environmental Affairs’ to reduce the use of plastic bags in large stores and supermarkets resulted in a 54% decrease in the consumption of single-use plastic bags over the past 18 months, the ministry said in mid-August. The decrease in consumption of fossil fuel-based single-use plastic bags is calculated based on self-reporting required of large stores and supermarkets under current regulations.

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Colombia, HDPE, plastics, sustainability

Kristen Hays and Yi-Jeng Huang
US and Asia petrochemicals

Tariffs frustrate US-China trade in plastic resins and finished products

March 19, 2019 09:49 UTC

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Trade in polyethylene resin and finished products slowed in the fourth quarter of 2018, becoming a casualty of the US-China trade war.

Last year, the Trump Administration launched a full-scale trade war with China, imposing three rounds of tariffs worth a cumulative $250 billion on Chinese products.

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China, petrochemicals, plastics, polyethylene, trade wars, US

S&P Global Platts Staff

Mixed outlook for European petrochemicals in 2019 as market digests new trade flows

February 27, 2019 12:37 UTC

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US-China trade tensions were in the spotlight last year across commodity markets, and the petrochemicals sector was by no means untouched.

Antidumping duties introduced by China on the imports of some origins of styrene – used to make packaging and other plastic and synthetic rubber products – altered trade flows significantly. One result has been an increase in trading activity within Europe.

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Luke Milner and Ben Brooks
Editors, EMEA petrochemicals

Is European recycling up to the plastic waste challenge?

February 21, 2019 09:28 UTC

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This is the concluding article in a three-part series exploring oil, plastics demand and sustainability.

European governments and corporates are setting ambitious goals on plastics recycling, but there are practical and economic hurdles to get over if the policies are to be a success.

Not only do some countries’ domestic markets lag behind, but there is a general reliance on material from countries such as Germany and the Netherlands where more inroads have been made to cope with high levels of demand.

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Europe, PET, petrochemicals, plastics, recycling, sustainability

Paul Hickin
Associate editorial director

The Middle East’s petrochemicals push signals oil’s future

February 20, 2019 08:25 UTC

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This is the second installment in a three-part series exploring oil, plastics demand and sustainability.

Plastics and chemicals will account for the largest share of global crude demand growth by 2030, and a third wave of petrochemicals expansion underway in the Middle East is looking to cash in on the trend, as investment into downstream petroleum industries will become a critical demand driver for oil markets in the future.

Industrialized economies use up to 20 times more plastic and up to 10 times more fertilizer than developing nations on a per person basis, underscoring the huge potential for global growth. The International Energy Agency expects petrochemicals to account for almost half of global oil demand growth by 2050, equivalent to almost 7 million b/d.

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Middle East, oil, Oman, petchems, plastics, Saudi Arabia, UAE

Philip Reeder
Associate editor, light ends

Consumer push for sustainability masks massive growth in plastic demand

February 19, 2019 06:30 UTC

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This is the first installment in a three-part series exploring oil, plastics demand and sustainability.

Barely a week goes by without another headline decrying the use of plastics and plastic packaging in Europe. Plastics are clogging up our oceans, overflowing our landfill sites and even finding their way into our food.

But as the world wakes up to the environmental damage caused by plastic waste and pollution, it may come as a surprise to learn that the industry is looking to dramatically ramp up production, not slow it down.

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environment, oil, petrochemicals, plastics, recycling, sustainability

Yi-Jeng Huang
Senior Market Development Specialist - Asia

Vietnam’s plastic end-users set to gain as US-China trade spat intensifies

October 15, 2018 00:01 UTC

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The global plastics supply chain is changing as the US-China trade war intensifies, and Vietnam’s plastic resin end-users are poised to benefit.

While Vietnam is already a manufacturing hub for plastic finished goods due to its low labor costs and business-friendly environment, the recent trade war between global giants is providing an additional boost as key resin costs decline.

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petrochemicals, plastics, trade war, US-China, Vietnam

Annette Hugh
Director, Americas market development

AFPM: Executives weigh in on tariffs, immigration and US unemployment

March 27, 2018 11:01 UTC

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Global trade set the tone and official theme for this year’s American Fuel and Petrochemicals Manufacturers International Petrochemical Conference in San Antonio this week, as chemical interests from around the world met to conduct business and exchange information.

The official conference theme of global trade is underpinned by the resurgence of the US market’s growth in exports in crude, refined products as well as petrochemicals and plastics. Topics of interest were around investment in new plant buildouts both in the US and around the world, and what competitive factors could make or break those projects, including the future curve for crude oil. › Continue Reading

AFPM, global, labor, petrochemicals, tariff, trade

Platts Insight

Posts for the ‘Petrochemicals’ category

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