As waste management and sustainability issues take center stage in the policy debate, the spotlight is on the petrochemical and plastics industry, and the industry’s social license to operate. Stakeholders are collaborating and stepping up their efforts. They are supporting initiatives that improving waste collection value chains and reduce plastic leaking into the environment, as well as R&D activities developing more scalable recycling routes.
Latin American countries are increasingly dependent on US NGL exports, highlighting the region’s need to invest in infrastructure –import terminals as well as production capabilities.But as Asia absorbs higher volumes of US NGLs, Latin America’s consumers become more exposed to changes in global trade.
Several factors are putting a damper on the growth of Latin America’s petrochemical industry in the new decade-- slowing economic growth, policy uncertainty, as well as trade tensions. The region’s economic forecast is mixed, and regional governments have limited options to drive domestic/private demand.
The significant capacity additions scheduled for the United States over the coming years will translate to a substantial increase in US soda ash exports, strengthening its position as the net exporter,” says Marguerite Morrin, research director/inorganics at IHS Markit.
By the end of the next decade, Asia will overtake North America as the net acrylonitrile exporting region, despite North America's advantage in propylene and ammonia feedstock.
Petrochemical industry earnings in 2019 reflect a slower pace of growth, and Asian markets are bearing the brunt.
Over the last two decades, China has become the largest market for almost every chemical. To meet this demand growth, China has introduced a series of financial and environmental frameworks in recent years that are transforming the country's petrochemical landscape.
Advances in recycling technologies are key to tackling plastic waste.
The worldwide demand outlook for methanol has softened in the past year due to expected weaker economics and operating rates at methanol-to-olefin (MTO) plants in China, and lower Chinese demand for methanol in fuels, exacerbated by major geopolitical threats...
Mitsubishi Chemical plans to announce details in the first quarter of 2020 of a methyl methacrylate (MMA) project on the US Gulf Coast, says Christine Frederic, manager/direct procurement at Lucite International, a Mitsubishi Chemical group company.
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