Olefin supply and demand tend to balance, polyester demand increases steadily

wallpapers Industry 2020-12-09
The 6th Asian petrochemical conference of

chemorbis was held in Kuala Lumpur Convention Center, Malaysia on June 10. The Asian plastics industry gathered at the meeting to discuss the future changes in the Asian plastics market. They believed that as the number of middle-class consumers increased, the demand would increase. The relationship between supply and demand of polyolefin tends to be balanced, and the demand of polyester is gradually increasing. In the future, the Asian plastics market has great potential.

demand driven by middle class consumption Akbar, CEO of Petronas Chemical Marketing Company Md.Tayoob In the opening speech, it was predicted that the number of middle class in Asia could reach 5 billion by 2030. The growth of this class will directly promote the rapid growth of plastic demand. He also analyzed the challenges and opportunities faced by ASEAN petrochemical enterprises. He said that the main problems facing ASEAN petrochemical producers are high raw material costs, lack of professionals and more stringent regulations. But at the same time, the advantages of ASEAN petrochemical producers are also obvious, and the demand for petrochemical products in Asian emerging markets will continue to grow rapidly in the coming decades. Necmettin kaymaz, chief project director of

and

Turkish investment support and promotion agency, analyzed the importance of emerging economies in future economic growth. He pointed out that in the next five years, 70% of global economic growth will come from emerging and developing economies, especially the emerging middle class in Asia, which will be the main driver of global GDP growth in the next five years. Changes in raw materials of

and

affect the competition pattern. Chen Weili, research analyst of olefin and polyolefin business of wood Mackenzie Chemical Co., Ltd., analyzes that in the future, China's ethylene and its derivatives will continue to rely heavily on imports, and Asian petrochemical producers will continue to be impacted by regions with advantages in raw materials, such as North America, and strive to remain competitive. Mazlan Razak, a management consultant of Nexant Asia, a famous consulting agency of

and

, predicts that with a large number of new ethylene projects in North America being put into operation, the export of polyethylene resin in North America will double by 2020. In 2014, the total export volume of polyethylene in North America will reach 1 million tons. In the future, the United States will become the main import place of polyethylene resin in Asian market. However, if crude oil prices remain low, the cost advantage of North American producers will be weakened. Mark mirosevic sorgo, general manager of quincunnon Asia Pte limited, a shipping brokerage company of

and

, pointed out that special loading equipment is required for ethylene transportation. The construction cost of ethylene loading ship is about 10% higher than that of normal transport ship. Iran has invested 60 billion US dollars in the construction of ethylene loading port and ship under the environment of international sanctions. If international sanctions are lifted, Iran will become an important supplier and exporter of ethylene in the world.

and

as for propylene supply, it is predicted that the Asian propylene market may face oversupply due to the large amount of propane dehydrogenation (PDH) production capacity being built at present. Based on this, it is predicted that the price of propylene in Asian market will be lower than that of ethylene in the future.

and

have great potential for emerging markets in the future. Andrew Lee fagg, head of Nexant Asia, points out that Indonesia, the Philippines and Vietnam have strong growth potential in terms of per capita consumption of polyolefins, because the starting point of these countries is very low and the demand is beginning to grow slowly. Kambiz mirkarimi, business manager of Iran's jam Petrochemical Company, said that Iran's domestic petrochemical production has more than doubled in the past five years, from 7.9 million tons in 2009 to 16.1 million tons in 2014. However, Iran's export of petrochemical products is also growing in the same period. Once the international sanctions are lifted, the export of petrochemical products will further increase. In order to meet the continuous expansion of polyolefin resin export demand, Iran will add 4.3 million tons / year of polyethylene capacity and 750 thousand tons / year of polypropylene production capacity in the next three years. Frank, partner of chem1 consulting, a consulting firm of

and

. Ye analyzed the PVC market in Asia and reminded people in the industry to pay special attention to the changes in the Chinese market. He pointed out that the price of PVC in China was mainly determined by the price of coal, while the price of crude oil was not closely related to the price of PVC. At present, China's PVC supply surplus is about 10%, so Chinese PVC producers will look for export opportunities. Rajen udeshi, President of polyester chain of

,

India, reported on pet and polyester chain. There is a huge space for the growth of pet consumption in India in the future. At present, the per capita pet consumption in India is only 0.55 kg per year, which is far lower than the global average of 2.63 kg. Rajen udeshi predicts that water and carbonated soft drink packaging will also be the main driving force of global pet demand in the next five years. It is estimated that the market demand of these two products will increase by 7% and 5% respectively in the future.


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