Petrochemicals Thermoplastic Enzymes
Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced its first quarter 2020 financial results as follows.
1Q 2020 Performance Summary
IVL registered Revenue growth of 15% during first quarter 2020 over fourth quarter 2019 and negative 3% year-on-year, including integration of newly acquired assets from Huntsman. COVID-19 global pandemic, as well as the historical collapse in the crude oil price, had a muted impact on IVL’s underlying business and operations.
IVL achieved a core EBITDA of US$304M (THB9.5B) and an operating cash flow of US$340M (THB10.6B), an increase of 51% and 28% quarter on quarter driven by combination of volume and margins growth in our three business verticals of Combined PET, Integrated Oxides & Derivatives as well as Fibers.
As demand for plastic surges amid the COVID-19 pandemic, Alberta-based petrochemical producers are moving to increase their recycling capacity while environmental groups call for reduced plastic use.Petrochemicals Thermoplastic Enzymes
Food packaging, carry-out groceries and wraparound personal protective equipment worn by medical professionals have become more commonplace as part of efforts to keep those items sanitized.
Nova Chemicals, headquartered in Calgary but owned by a sovereign wealth fund in the United Arab Emirates, produce materials that become these types of plastics.
Demand for polymers in India has seen a slight recovery, a week after the easing of restrictions on industrial operations to curb the Covid-19 pandemic.
The Indian government allowed non-essential businesses and operations to resume on 4 May but is maintaining a nationwide lockdown up to 17 May. The country’s lockdown began on 25 March. Operating rates of plastic converters rose to around 20-30pc this week, which prompted demand for raw polymers. Petrochemicals Thermoplastic Enzymes
But it remains to be seen if the increase in polymers’ demand is sustainable because of weaker demand for finished polymers goods in industries such as the auto, household and construction sectors. A severe labour shortage across India because of transport and movement restrictions may also constrain operations of plastic conversion plants.
Italy’s proposed €0.45/kilo (€450/tonne) tax on all virgin plastics has been postponed until 1 January 2021, the government confirmed this week.
The tax, initially due to come into effect on 1 July 2020, was pushed back due to the coronavirus pandemic.
The tax will impact all single use items with the exception of those produced from recycled plastics or compostable bioplastics. Petrochemicals Thermoplastic Enzymes
Initial reaction to the tax from the plastics industry in the country was mixed, but the postponement of the tax, which was announced in April, was welcomed by the industry.
However, given the current spread between prices in the virgin polyethylene terephthalate (PET) and recycled PET (R-PET) markets, the tax may do little to encourage the use of more recycled content.
European plasticizers players remain in the dark about future developments and describe complexities in a fragile market, with conditions open to change each day.
– Approaches to lifting restrictions vary
– Different levels of demand depending on application
– Spot prices under pressure
The complexities between different countries and customers and applications are making business decisions increasingly challenging for plasticizers players.
“Even though we have restarted, production is still very difficult and only two to three days per week,” one customer said of its French site. Petrochemicals Thermoplastic Enzymes
“We are still reducing stocks and we are completely in the dark [for Q3], and it is too early to make a forecast,” another consumer who has sites in various locations across Europe said.
ML Polyolefins, a producer of PP recyclates, is launching a new product portfolio adapting its offer to the expectations of all customers and grouping its materials by processing method.
Representatives of the company decided to expand the current profile of activity dominated by the offer of original plastics and PIR (Post Industrial Recycled). PCR (Post Consumer Recycled) was included to the new portfolio. Because of regulations imposed by the European Union, they are gaining more and more popularity.
In the coming weeks, the company will announce the premiere of a full, extended offer. It is already known that the high quality black regranulate will have several varieties. The producer introduces raw materials with different MFI, which will make them available for more opportunities of usage. Petrochemicals Thermoplastic Enzymes
Borealis announces a net profit of €151 million (approximately £133.8 million) for the first quarter of 2020, compared to €200 million (approximately £176.9 million) in the same quarter of 2019. Petrochemicals Thermoplastic Enzymes
The contribution from Borouge in the first quarter of 2020 deteriorated versus the same period in 2019, as an already low polyolefin price environment in Asia was further impacted by the coronavirus pandemic and falling oil prices.
Plastic is one of the world’s most useful materials, but at present, it is being grossly mismanaged. By closing the plastics loop, manufacturers can ensure the resource is responsibly recycled and reused Petrochemicals Thermoplastic Enzymes
An increase in consumer demand, pledges from high-profile companies and new legislation around the use of recycled materials highlight how steps are being made in the right direction when it comes to sustainably using the planet’s resources.
At the heart of behavioural changes and new policies is the need to create a circular economy – one that ensures plastics are handled as efficiently and sustainably as possible. Plastic needs to be kept in a closed loop throughout its life cycle, from production to retail; from the consumer to collection for recycling.
COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS Petrochemicals Thermoplastic Enzymes
Petrochemicals Thermoplastic Enzymes