WPC2020 Online — Content highlights

wpc 2020

Event blog: Negative oil forecast at WPC 2020

I never cease to be amazed at how ahead of the curve we are at IHS Markit, as proven again just three working days ago, when our global oil expert and IHS Markit vice president, Jim Burkhard, projected that oil prices could go negative as US storage capacity fills up. Monday, the May contract for WTI crude fell to -$37.63.

WPC 2020: Propylene outlook transformed by COVID-19, crude crash

The coronavirus disease 2019 (COVID-19) pandemic and the crude oil crash are interacting in complex ways to transform the propylene market, says Carlo Barrasa, executive director/global olefins at IHS Markit. Barrasa spoke Tuesday during a live session of the IHS Markit World Petrochemical Conference 2020 Online.

WPC 2020: Decline in North American PE, PP exports may not be steep as feared

Total North American exports of polyethylene (PE) and polypropylene (PP) resins will decline this year for the first time since 2015 due to the coronavirus disease 2019 (COVID-19) pandemic but the downturn may not be as severe as first feared just weeks ago, according to Joel Morales, executive director/polyolefins Americas at IHS Markit. 

WPC 2020: Diversification critical for survival of Latin America's refining sector

As demand from the petrochemical industry grows in importance for the global refining sector, Latin America’s refiners will need to consider the option of integration into petrochemicals if they are to survive against competition from North America’s refining complex, says Felipe Perez, strategist/Latin America, downstream at IHS Markit.

WPC 2020: China emerges from COVID-19

As China starts to emerge from the coronavirus disease 2019 (COVID-19) crisis, the country’s chemical industry will see a number of shifts in its structure and focus, including in value chains and logistics, as well as digitization, automation, and globalization, says Yubo Li, CFO and CEO at Jiahua Chemicals.

WPC 2020: China to drive growth in adhesives and sealants market

Global consumption of adhesives and sealants is set to grow at an average annual rate of almost 4% during the period 2019–24, according to Eric Linak, director/specialty chemicals at IHS Markit. China will drive worldwide consumption growth with an average annual rate of 5.5% during this period. An overall slowdown is nevertheless expected mainly due to falling per-capita consumption of adhesives and sealants in developed markets, Linak says. 

WPC 2020: A competitive carbon price is key to tackling climate change

Carbon capture, utilization, and storage (CCUS) present profitable business opportunities that can help decrease carbon dioxide (CO2) emission rates, says Ralf Gubler, director/research and analysis at IHS Markit. “A competitive carbon price is key,” since it could turn CCUS into a profitable business, providing companies with an additional incentive to act, Gubler says.

WPC 2020: China emerges from COVID-19

As China starts to emerge from the coronavirus disease 2019 (COVID-19) crisis, the country’s chemical industry will see a number of shifts in its structure and focus, including in value chains and logistics, as well as digitization, automation, and globalization, says Yubo Li, CFO and CEO at Jiahua Chemicals.

WPC 2020: COVID-19 forces industry pivot to survival tactics

The impact of the coronavirus disease 2019 (COVID-19) and the collapse in oil prices are forcing a near-term pivot to survival tactics for industry, according to Mark Eramo, IHS Markit global vice president, oil markets, downstream, and chemicals (OMDC). And there are major trends shaping industry in the decade ahead that must continue to be addressed against this difficult backdrop, including energy transition, sustainability, and the ever-growing influence of China.

WPC 2020: Ethylene overbuild mitigated by operating conditions

Even before the arrival of coronavirus disease 2019 (COVID-19), world ethylene production capacity was set to grow far ahead of demand during 2020–22, and now the excess could swell by another 6 million metric tons/year (MMt/y) or more. 

WPC 2020: Plastics proving social value amid COVID-19 pandemic

The social and economic disaster of the coronavirus disease 2019 (COVID-19) pandemic has drawn attention to the essential contribution of plastics to health and safety, not only through applications such as masks and protective clothing, but also in more surprising forms such as single-use plastics bags, says Nick Vafiadis, vice president/plastics at IHS Markit. 

WPC 2020: A competitive carbon price is key to tackling climate change

Carbon capture, utilization, and storage (CCUS) present profitable business opportunities that can help decrease carbon dioxide (CO2) emission rates, says Ralf Gubler, director/research and analysis at IHS Markit. “A competitive carbon price is key,” since it could turn CCUS into a profitable business, providing companies with an additional incentive to act, Gubler says.

WPC 2020: Benzene price to reach historic lows this year

The benzene market was facing several challenges in late 2019 with demand and production growth starting to slow. The global economy was decelerating, sustainability pressures were continuing to grow, production capacity was starting up, and tighter fuel regulations were due to come into force in 2020. 

WPC 2020: China could become PP net exporter on capacity surge

Increasingly self-sufficient in polypropylene (PP), China has the potential to become a net exporter of the resin, says Joel Morales, executive director/polyolefins, Americas at IHS Markit.

WPC 2020: COVID-19 pandemic creates broad demand shock for chemical makers

The demand shock created by the coronavirus disease 2019 (COVID-19) pandemic, along with the collapse in oil prices, is depressing profitability for chemical makers and scrambling industry supply chains, according to speakers at the 2020 World Petrochemical Conference (WPC) Online strategic dialogue forum held on April 16, 2020. 

WPC 2020: China's downstream value chain to act as partial buffer against COVID-19

The para-xylene (p-xylene) market in China has a longer and more comprehensive value chain than the oil market to help buffer it against demand damage caused by the coronavirus disease 2019 (COVID-19) pandemic, according to IHS Markit’s Fenglei Shi.