Petrochemical PETResin GreenHydrogen
Crude Oil Prices Trend
The contract price for paraxylene in Europe for January supplies has been agreed at EUR600 per tonne, which is EUR60 per tonne higher than last December’s level, ICIS reported .
The contract price was agreed on free delivery terms – FD NWE (North West Europe).
The rise in crude oil prices, increased demand and a change in the supply balance in the European market put pressure on paraxylene prices.
The December contract price of paraxylene in the region was at around EUR540 per tonne (an increase of EUR30 per tonne from the level of the previous month).
Paraxylene is a raw material for the synthesis of terephthalic acid – an intermediate product for the production of polyethylene terephthalate (PET).
- Q4 throughput hit fresh high 14.2 mil b/d
- GDP growth projection at around 8% in 2021
- Oil product consumption to hit 15.4 mil b/d in 2021: Platts Analytics
Singapore — China’s economy grew at 6.5% in the fourth quarter, bringing the world’s second largest economy’s GDP growth to 2.3% in 2020, National Bureau of Statistics data showed Jan. 18. Petrochemical PETResin GreenHydrogen
This paves a way for robust economic growth of about 8% in 2021, which will help the Asia’s biggest energy consumer propel domestic oil demand in top gear, with analysts S&P Global Platts spoke to expecting a consumption growth of 3.5%-4.5% year on year.
China’s economy has recovered steady from the GDP decline of 6.8% in the first quarter due to COVID-19 outbreak, flipping into a year-on-year growth of 3.2% in the second quarter and 4.9% in the third quarter.
In line with the growth, the country’s crude throughput in Q4 hit record high of 14.2 million b/d, despite the year-on-year increase in the quarter slowing to 2.6% from the jump of 7.5% seen in Q3 due to the relatively higher base in Q4 2019, NBS data showed Jan. 18.
Sleever‘s LDPET full-body sleeve has been recognised at the AWA International Sleeve Label Awards for its contribution to the circular economy. Designed to facilitate the closed-loop recycling of PET bottles, LDPET received the accolade due to its “sustainable character” coupled with its “ability to maintain a brand’s identity with premium decoration”. Petrochemical PETResin GreenHydrogen
LDPET was approved by the European PET Bottle Platform in 2014 and the Association of Plastic Recyclers in North America. Sleever provides customers with an LDPET certificate for each project, which confirms that the product conforms with all the stages of material sorting and reprocessing.
As 2021 gets underway, Europe’s new plastics tax is creating a demand boost for recycled plastics in the region, while in Asia, recyclers are expected to struggle with bearish virgin markets and soaring freight costs at least in the first half of the year. By Benjamin Brooks, Sarah Schneider, Miranda Zhang and Hui Heng
After a tumultuous 2020 for the global recycled plastics markets that saw production margins pressured and bearish virgin prices causing buyers to shun recycled plastics, the first half of 2021 may see a step change, at least in Europe and the US, in reaction to newly signed legislation that may provide an impetus to increased demand. Petrochemical PETResin GreenHydrogen
In the Asian markets, a combination of uneconomic export opportunities and expected low virgin prices well into H1 2021 will likely mean recycled plastics markets will continue to struggle, though upcoming high-specification recycling plants, delayed from 2020, may provide a lifeline and a new impetus to high-specification recycled plastics in the region.
Israel-based Silentium, a technology company specializing in creating personal in-car sound environments, says it is ramping up the global roll-out of its Active Road Noise Cancellation (ARNC) technology after being selected by automotive supplier Hyundai Mobis as the preferred ARNC software provider. Three production models from other manufacturers, equipped with the company’s ARNC technology, have already been released to the market. Petrochemical PETResin GreenHydrogen
After several years’ development of the software, Jaguar Land Rover was the first car maker to announce integration of Silentium’s ARNC in three of its new vehicles in October 2020. Having signed an MoU last year, Silentium and Hyundai Mobis are now collaborating on a global vehicle production program for an unnamed brand.
Sang Hun Lee, Asia managing director at Silentium, commented, “Our active acoustics technology can reduce, cancel and enhance sound inside any vehicle, and can work on any infotainment system and speakers in any car – no extra investment needed on types or placement of speakers. You can already find our broad-band noise cancellation software in Jaguar and Land Rover vehicles, and we can’t wait to start a wider global roll-out thanks to our new partnership with Hyundai Mobis.”
Plans have been made to build a plant for recycling polyethylene (PET) bottles in Pinsk District, Brest Oblast, representatives of the Pinsk District administration told BelTA. Petrochemical PETResin GreenHydrogen
The Pinsk-based company OOO Ekoprodshina, which specializes in recycling worn-out automobile tires, is the initiator of the project.
The company has bought a land plot of about 0.5 hectare in the town of Logishin at the suggestion of the Pinsk District Executive Committee.
The land will be used to build a manufacturing wing for processing PET bottles and a boiler house. Engineering infrastructure and communications will be built. The project will create 19 jobs.
Sinopec Shanghai Petrochemical (SPC, Shanghai / China; www.spc.com.cn/) has started constructing a production plant for 48k large-tow carbon fibre.
The CNY 3.5 bn (EUR 444m) project is expected to produce 24,000 t/y of carbon fibre precursors and 12,000 t/y of the 48k large-tow carbon fibre bundles (which contain 48,000 carbon fibres), and is scheduled for completion in 2024.
It will use polyacrylonitrile (PAN) carbon-based fibre technology to manufacture the fibres. Petrochemical PETResin GreenHydrogen
The project will change China’s dependency on tow, an untwisted bundle of continuous filaments, which the country imports mostly from Japan and the US.
Total and Engie (Paris, France) will cooperate in developing, building, and operating green hydrogen production and storage facilities at the 500,000-metric tons/year La Mede biorefinery at Chateauneuf-les-Martigues, France, to create supplies for biofuel output, reported Chemweek with reference to the companiies’ joint statement.
Subject to funding and relevant permits, the partners plan to erect a 40-megawatt (MW) electrolyzer at the refining site by 2024 that would initially produce 5 metric tons/day of green hydrogen, powered from solar farms with a combined capacity of more than 100 MW. Petrochemical PETResin GreenHydrogen
First-stage production could avoid 15,000 metric tons/year of carbon dioxide emissions, they estimate. The development of additional renewable power farms could lift hydrogen output later to 15 metric tons/day, utilizing the full capacity of the electrolyzer.
The carbon-free hydrogen would be used to produce renewable biodiesel at the La Mede biofuel refinery, which turns vegetable oil – such as canola, palm, sunflower – and treated waste – animal fats, cooking oil, residues – into hydrotreated vegetable oil. The rest would be sold to external users.
Data collected and tabulated by the American Chemistry Council (ACC) show that global chemicals production rose 1.9% in November, up from 1.7% in October and extending the recovery that began in June. During November, chemical production grew in all regions except the Former Soviet Union (FSU), said Hydrocarbonprocessing. Petrochemical PETResin GreenHydrogen
Headline global production was up 3.7% year-over-year (Y/Y) on a three-month moving average (3MMA) basis and is now 2.9% above the pre-COVID peak last December. Global output stood at 122.0 percent of its average 2012 levels.
During November, global capacity rose 0.1% and was up 2.2% Y/Y. With improving production, capacity utilization in the global chemical industry rose 1.5 points to 82.9%. This is up from 81.7% in October and the pre-COVID peak in December 2019, but below the long-term (1987-2017) average of 86.5%.
Among chemical industry segments, November results were positive, with gains across all segments. Considering year-earlier comparisons, growth was mixed, with gains in plastic resins, synthetic rubber, manufactured fibers, bulk petrochemicals and organics, inorganic chemicals, other specialties, agricultural chemicals, and consumer products, but contraction in coatings.
Partnership, innovation, and service deliver a sustainable plastic solution for food and beverage manufacturers. INDEVCO Plastics has innovated print-grade shrink bundling film for multi-packs that delivers a circular plastics solution. Using 50% post-consumer recycled (PCR) resin, the collation shrink is fully recyclable at store drop off locations across the US. Petrochemical PETResin GreenHydrogen
INDEVCO Plastics co-developed the film with Dow, a fellow member of the Alliance to End Plastic Waste, for food and beverage manufacturers who bundle products in multi-unit packages. Dow’s PCR resin, first introduced for shrink applications in North America in October, contains 70% certified PCR sourced from a reliable local US supply.
“In our partnership with Dow,” explained Wayne Mashe, INDEVCO Plastics Divisional General Manager, “we focused on the right resin selection, film thickness, and impact on the waste stream. The result is a high-performing collation shrink that not only meets the market requirements but also uses half the virgin resins and can be recycled and repurposed into other products.”
Petrochemical PETResin GreenHydrogen