Petrochemical Automotive PEF CrudeOil 24-11-2020

Petrochemical Automotive PEF CrudeOil

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-Expansions: Covestro expands capacity for Vulkollan in Thailand

Covestro expands capacity for Vulkollan in Thailand

German polymer firm Covestro has started construction of a new production plant for Vulkollan raw materials in the Map Ta Phut industrial zone in Thailand. The investment is in the high mid double-digit million euro range. Production at the new plant is scheduled to start at the end of 2022. It will employ a staff of more than 25 people. The product is mainly used where highest mechanical strength and abrasion resistance is required. Examples are wheels for forklift trucks as well as couplings and seals for the engineering industry.  Petrochemical Automotive PEF CrudeOil

“With this strategic investment, Covestro wants to further improve its infrastructure and customer proximity and strengthen its presence in the Asia-Pacific region,” says Dr. Klaus Schäfer, Chief Technology Officer (CTO) of Covestro. “After expanding our capacities for polycarbonate films, we are now broadening the production spectrum at our Map Ta Phut site with a new investment project.”

Expansions: Covestro expands capacity for Vulkollan in Thailand

-Invista completes PA6.6 capacity expansion in China

Polymer firm Invista has completed a 40,000-tonne/year nylon 6,6 polymer capacity expansion at its polymer plant at the Shanghai Chemical Industry Park (SCIP). This addition brings the plant’s capacity to 190,000-tonne/year.

This expansion is Invista’s fourth continuous polymerisation line at SCIP where the company now has 30,000-tonne/year autoclaves and 160,000-tonne/year continuous process nylon 6,6 polymer capacity. Petrochemical Automotive PEF CrudeOil

Pete Brown, Invista’s executive vice president, nylon polymer, added, “The additional polymer capacity is another key element of Invista’s integrated nylon 6,6 value chain at SCIP where we also have a 215,000-tonne/year hexamethylenediamine (HMD) plant and a 400,000-tonne/year adiponitrile (ADN) plant currently under construction.”

Invista completes PA6.6 capacity expansion in China

-High-quality tufted carpets made of recycled PET

With Relive-1, Autoneum is launching an innovative tufted carpet that meets the highest requirements of sustainable mobility. The tufting technology for the compact to premium class, which has been awarded the “Autoneum Pure.” label for outstanding environmental friendliness, is also more durable than the carpet standards common in these vehicle segments and convinces with excellent cleanability.Petrochemical Automotive PEF CrudeOil

Global demand for innovative cars of the future and sustainable forms of mobility is rising. Accordingly, automobile manufacturers and suppliers are increasingly focusing their vehicle development activities on resource-saving lightweight components and production processes. In addition, the look and feel of the passenger cabin is a decisive factor in the purchasing decision, as in the future the car will be used increasingly for work and recreation. Here, carpet systems play a key role in terms of quality perception because of their size. With Relive-1, Autoneum now offers a premium technology for automotive carpets that not only scores with its aesthetic appearance, but also has an exceptional environmental performance. Among other things, carpets made of Relive-1 feature a particularly sustainable use of raw materials: For example, only recycled PET bottles are used to manufacture the carpet yarns.

Petrochemical Automotive PEF CrudeOil

-Petronas steps up investments in hydrogen as part of carbon-free energy goals

Malaysia’s state energy firm Petronas said it is stepping up investments in hydrogen as part of a global push to produce carbon-free energy, even as the firm expands its portfolio in LNG and renewable energy. Petrochemical Automotive PEF CrudeOil

“The trajectory for moving towards hydrogen is really picking up space,” chief executive Tengku Muhammad Taufik Tengku Aziz said during the APEC CEO Dialogues.

Petrochemical Automotive PEF CrudeOil

-Thailand’s Indorama makes $1.5bn green bet on plastics recycling

Group plans to triple annual capacity to 750,000 tons in five years

Thailand’s Indorama Ventures, the world’s top producer of PET, will spend $1.5 billion to triple its plastics recycling operations, an ambitious goal backed by growing demand among green-minded beverage producers. Petrochemical Automotive PEF CrudeOil

Indorama has been aggressively acquiring companies that recycle polyethylene terephthalate, a material used in plastic bottles, in recent years. It aims to expand its recycling capacity to 750,000 tons a year by 2025 from the current roughly 250,000 tons.

The goal is to have “recycled materials account for about 20% of the 4 million tons of PET Indorama supplies to the beverage industry a year,” Chief Sustainability Officer Yashovardhan Lohia told Nikkei Asia in a recent interview.

One in five PET bottles in the world is said to be made of Indorama’s materials. The company’s rapid ascent to the world’s top PET manufacturer was achieved through a series of acquisitions.

Petrochemical Automotive PEF CrudeOil

-UK WEEE waste recycling market to hit $200m: report

The WEEE waste recycling market in the UK is estimated to expand at a CAGR of 8% until 2030, reaching a valuation of $200 million, said Transparency Market Research, a next-generation market intelligence provider, in a new report.

The WEEE waste recycling market in the UK is broadly affected by several factors. These include increase in consumption of electrical & electronics equipment, rise in concern about disposal of e-waste, and growth in the number of e-waste management laws.

Furthermore, ongoing investment in development of material recycling facility with the aim to reduce the generation of e-waste stream is a key factor expected to boost the WEEE waste recycling market in the UK in the near future. Petrochemical Automotive PEF CrudeOil

Petrochemical Automotive PEF CrudeOil

-Europe PET buyers mull higher purchases as logistics costs surge, traders’ woes increase

The European polyethylene terephthalate (PET) market has firmed on the back of surging logistics costs, with higher import offers as the ongong shutdown season has reduced domestic production. Petrochemical Automotive PEF CrudeOil

Higher import prices would give European sellers an opportunity to firm prices; on the other hand, buyers remain cautious due to underlying demand patterns.

Turnarounds began earlier than expected, and is now expected to end later than planned due to coronavirus restrictions.

ALL ABOUT ASIA

“It [the European market] is short because all the Asian countries are producing and exporting, and not importing, because of Covid-19,” a trader said.

“Containers are not coming back empty. There are fewer than usual,” it added.

Petrochemical Automotive PEF CrudeOil

-Tariff changes of nylon related products under RCEP trade pact

On November 15, 2020, the Regional Comprehensive Economic Partnership (RCEP) agreement has been signed among its 15 participating countries, the Association of Southeast Asian Nations, China, Japan, the Republic of Korea (ROK), launching the world’s biggest free trade bloc, after 31 rounds of negotiations over eight years.

Below three tables shows the changes in the tariff of major nylon relevant products between China and highly relevant regions or countries in the trade pact.

Petrochemical Automotive PEF CrudeOil

Tariff changes of nylon related products under RCEP trade pact

-Indian government imposed anti-dumping duties on PS imports from six countries

The Indian government has introduced anti-dumping duties (ADDs) on imported polystyrene (PS) shipments from six countries: Iran, Malaysia, Singapore, Taiwan, the United Arab Emirates and the United States, ICIS reported.

In late June, the Indian government released the results of a year-long anti-dumping investigation into imported polystyrene. The investigation concluded that the dumping was in progress and imposed duties ranging from USD35 to USD474 on aircraft shipments from six countries of origin – Iran, Singapore, Malaysia, Taiwan, the United Arab Emirates and the United States. Petrochemical Automotive PEF CrudeOil

Once the tariffs take effect, most buyers expect PS imports to drop sharply, especially from Iranian producers who have offered goods at attractive prices, often in cash.

According to MRC ‘s ScanPlast , the estimated consumption of PS and styrene plastics in Russia for the first nine months of this year amounted to 362.82 thousand tons. The decrease relative to the consumption indicator for the same period last year amounted to 1%. In September, the total estimated consumption in the country was 48.69 thousand tons, which is 13% more than in September 2019.

Indian government imposed anti-dumping duties on PS imports from six countries

-November eurozone manufacturing growth undercut by service sector crunch

The eurozone private sector slid back into contraction in November with subdued growth in the manufacturing sector unable to stem the decline on the back of an accelerating decline in the service sector, according to analysts from IHS Markit on Monday.

Rising coronavirus infection rates and aggressive measures to prevent the spread of the virus weighed on purchasing manager index (PMI) levels.

Accounting for pandemic-driven crashes in quarters one and two this year, the average PMI reading of 47.6 in the fourth quarter so far is the lowest since the region’s debt crisis in the closing quarter of 2012. Petrochemical Automotive PEF CrudeOil

This could point to a steep decline in GDP for the year, which Markit anticipates will track a decline of 7.4% which could rise to a 3.7% expansion in 2021.

November eurozone manufacturing growth undercut by service sector crunch

Petrochemical Automotive PEF CrudeOil

Petrochemical Automotive PET CrudeOil 23-11-2020