Petrochemicals Synthetic Fabrics Polymers
Crude Oil Prices Trend
ACI Plastics, a U.S. leader in post-industrial plastics reprocessing, will install two Davis-Standard reclaim extruders at its new South Carolina plant in early 2020 with two more slated for a fourth-quarter installation in California.
The extruders will be used to pelletize scrap materials from the mixed rigid plastics, including the production of PE and PP plastic pellets for re-sale.
The expansion is part of ACI’s partnership with PreZero, a global waste management and recycling firm that invests in new technologies, systems, and processes committed to long-term environmental sustainability. With PreZero’s support, ACI Plastics will expand its footprint for closed-loop sustainable processing of film and rigid plastics to better support customers nationwide.Petrochemicals Synthetic Fabrics Polylactic
The US Senate is set to vote today on a massive stimulus bill that will provide funds to businesses, airlines and workers struggling from the coronavirus outbreak but excludes targeted help for the oil industry.Petrochemicals Synthetic Fabrics Polymers
Congressional leaders negotiated the bipartisan $2 trillion deal in just five days, as the death toll in the US from the outbreak surpassed 700 and shuttered US businesses laid off what some analysts expect could be millions of workers.
The deal would funnel the equivalent of nearly 10pc of US GDP to struggling businesses, states, hospitals and workers through a variety of grants, loans, cash payments and increased government benefits.
Chinese producer Zhejiang Zhengkai’s subsidiary Chongqing Wankai is starting up today its new 600,000 t/yr polyethylene terephthalate (PET) bottle chip plant.
Feedstock purified terephthalic acid and ethylene glycol was fed into the Chongqing plant in southwest China today, with Wankai targeting on-specification production by the end of this month. Petrochemicals Synthetic Fabrics Polymers
The project has a design capacity of 1.2mn t/yr of PET bottle chip, including two 600,000 t/yr production lines. Total investment is 3.6bn yuan ($507mn).
Petrochemical trades in India were disrupted with plants shutting down and ports declaring a force majeure amid a three-week nationwide lockdown meant to contain the spread of the novel coronavirus in the world’s second most populous country.
“Supply chains are a major risk for a country such as India,” ICIS senior Asia analyst John Richardson said. Petrochemicals Synthetic Fabrics Polymers
“For example, as both its ports and petrochemical plants shut down, it may run short of the resins it needs to package food and other daily necessities. Despite big recent capacity expansions, it is still a net polyethylene [PE] importer,” he added.
Since the Spring Festival, PP spot-futures price spread spiraled higher from around -200yuan/mt to 50yuan/mt, which was profitable for hedgers. However, with the gradual strengthening of the PP spot-futures basis, hedgers started to sell their spot cargoes and market sources increased. Moreover, the destocking progress of upstream was not smooth, thus they had strong willingness to sell goods at relatively lower price and market price had been affected.Petrochemicals Synthetic Fabrics Polymers
After the Spring Festival, because of the high inventory, restricted logistic transportation and financial pressure, upstream offered low intensively to sell goods and PP spot-futures price spread weakened significantly, giving hedgers a better opportunity for arbitrage, and the price spread around -200yuan/mt had attracted a large number of capital arbitrage speculative demand.
UK recycled polyethylene terephthalate plants remain at high production capacity as order books for the food and beverage packaging markets remain robust.
As consumers stock up on supermarket essentials, including packaged food and bottled water, converters are calling on suppliers of R-PET clear flakes and food-grade pellets for additional volumes.Petrochemicals Synthetic Fabrics Polymers
“We’ve had more calls on material over the weekend than all of February,” one supplier said.
A recycler said bottled water was “flying off the shelves. We’re not seeing any downturn in demand.”
A consumer said they were increasing stock levels from the usual three days of supply to seven days, but were nearing warehouse capacity.
The global polyethylene market size was valued at $103.49bn (~€95.5bn) in 2018 and is expected to reach $143.30bn by 2026, exhibiting a CAGR of 4.1%, according to a report by Fortune Business insights.Petrochemicals Synthetic Fabrics Polymers
The increasing demand for PE is a key factor driving the global market. The report, titled ‘Polyethylene (PE) Market Size, Share & Industry Analysis, By Type (HDPE, LDPE, LLDPE), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Agriculture, Others), and Regional Forecast, 2019-2026’, added that the PE market is segmented into HDPE, LDPE, and LLDPE.
Klöckner Pentaplast (kp) the market leader in pharmaceutical packaging films, has completed a significant expansion at its Cotia facility in Brazil.
Along with a larger and more sustainable facility, the project gives kp additional coating capacity to better support the rapidly growing South American pharmaceutical market.
The state-of-the-art coating line has increased kp’s local South American coating capacity by over 30 per cent, offering customers high quality, innovative films with shorter lead times. Petrochemicals Synthetic Fabrics Polymers
The added capacity arrives at the right time, as the pharmaceutical blister market continues to grow in PVdC coated products as a cost effective high-barrier packaging solution.
As per the decree of the Italian President of the Council of Ministers (DPCM) issued on Sunday 22 March 2020, Italian manufacturers of plastics and rubber machinery – referring to Ateco code 28.96 – may continue their activity, since they belong to a production chain defined as necessary.Petrochemicals Synthetic Fabrics Polymers
Of course, the Italian trade Association Amaplast underlines that such factories will have to comply with the Protocol (signed on March 24 both by Government and social parties) listing all the measures that hinder and limit the spread of the infection inside and outside the work sites and keeping the safety and the health of people involved in the production cycle as a priority.
Statements implicitly lead to some very questionable recommendations to EU institutions and citizens
“If we wanted to condense the gist of the report, we could say that EASAC discourages all the innovations that appear in the industrial sector currently dominated by fossil-based plastics”, says François de Bie, Chairman of European Bioplastics (EUBP) in response to the report ‘Packaging plastic in the circular economy’ recently published by the European Academies’ Science Advisory Council (EASAC).Petrochemicals Synthetic Fabrics Polymers
According to EUBP, the statements on bio-based and biodegradable plastics by EASAC implicitly lead to some very questionable recommendations to EU institutions and citizens.
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