The ability of petrochemical companies to raise funding is increasingly becoming tied to environmental, social, and governance (ESG) frameworks and reporting mechanisms. As these become the norm, companies must work together to develop sector-specific metrics, says Kevin Roy, vice president/research, and analysis at IHS Markit.
The standardization of plant design could deliver projects faster, and therefore at a lower cost, says David Gaertner, vice president/global petrochemical business at Schneider Electric. The adoption of standardization could enhance the positive impact modularization, and digital tools are already having on efficiencies and lowering capital costs.
ldquo;In light of developing circumstances, we regret to announce that it is necessary to cancel The World Petrochemical Conference 2020 scheduled to take place in New Orleans, on 24–27 March,” the company says in a statement on the WPC event website.
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.
May 6 - 8, 2020
May 27 - 28, 2020
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New York, NY
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