OPEC+ could be among the producers increasing supply
Wall Street is beginning to sour on the outlook for crude next year, with Goldman Sachs Group Inc. and Morgan Stanley lowering price forecasts as global supplies increase, including potentially from OPEC+.
The two banks now foresee global benchmark Brent averaging less than $80 a barrel in 2025, with Goldman’s revised forecast cut to $77, while Morgan Stanley sees futures ranging from $75 to $78. Both expect that the crude market will be in surplus, with prices trending lower over the 12 months. Enzymatic Recycling
A decision by OPEC+ to reverse voluntary supply cuts may mean that the cartel is aiming at “strategically disciplining non-OPEC supply,” Goldman analysts including Daan Struyven said in a note, while warning that crude prices could undershoot its revised forecasts in a number of scenarios. Enzymatic Recycling
Oil has fallen in recent months — temporarily losing all year-to-date gains — as investors fretted about slowing demand growth in China, rising supplies from outside OPEC+, as well as the group’s plans to relax output curbs. While the cartel has been willing to sacrifice market share by withholding barrels to support prices, the tentative plan to restore output may alter that stance.
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Crude Oil Prices Trend
Crude Oil Prices Trend by Polyestertime
Enzymatic Recycling Powers the Circular Plastic Economy
Rather than melting PET to recycle it, enzymatic recycling uses proteins that act as biological catalysts to accelerate chemical reactions. ©Carbios
Breaking down PET plastic into its original building blocks, while allowing PLA bioplastic to compost at lower temperatures, Carbios’ enzymatic recycling technologies are a major advancement in the circular plastic economy.
Plastic is one of the world’s most pervasive and toxic pollutants, with the United Nations warning of a “toxic tidal wave” as the world generates 400 million tonnes of plastic waste each year. Enzymatic Recycling
A Toxic Tidal Wave
Around 99% of this plastic is made from fossil fuels, such as PET (polyethylene terephthalate). The rest is bioplastic such as PLA (polylactic acid), made from organic sources like corn starch and sugar cane.
To combat plastic pollution, the European Union has issued a Single-Use Plastic (SUP) Directive. It is also pushing for plastic to have a more circular and sustainable lifecycle. For example, all packaging in the EU must be reusable or recyclable in an economically viable way by 2030.
Currently, PET waste such as plastic bottles is typically processed using thermomechanical recycling – which shreds, washes, and melts the plastic into pellets for making new products. Enzymatic Recycling
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Epsotech, a German thermoplastics manufacturer, has initiated controlled administration proceedings for its three German subsidiaries—Epsotech Holding, Epsotech Germany, and Epsotech Color
This move, approved by the Cologne court, aims to restructure the companies amid challenging market conditions that have severely impacted sales. The reorganization does not affect the group’s foreign subsidiaries, including Epsotech Italy, which will continue operations as usual.
Production at the company’s Jülich headquarters will remain uninterrupted, with the 140 German employees’ salaries secured until the end of October through insolvency benefits. The company plans to reorganize by November, enabling salaries to be funded by business activities once more. CEO Predrag Skenderc is leading the recovery efforts, supported by industrial restructuring experts. Enzymatic Recycling
The financial strain on the German subsidiaries stems from a difficult market environment, characterized by declining sales, rising interest rates, and increased material costs. Skenderc noted that many customers, also affected by economic downturns, have reduced their orders, directly impacting Epsotech’s revenue.
As part of the restructuring, Epsotech is adapting its production processes and aims to become a center of excellence in polyolefins and specialties. The German self-administration process allows the company to continue operations under court supervision, with management retaining full control. Epsotech Group, with over 60 years of experience, continues to deliver customized plastic solutions across various markets from its six European production sites. Enzymatic Recycling
Resin Price Report: Tight Inventories Push Prices Higher
Rising feedstock costs could limit fresh production and raise prices even more.
Polyethylene (PE) and polypropylene (PP) resin prices continued to climb the week of Aug. 12, reports the PlasticsExchange in its Market Update. Inventories for these commodity resin groups are tight and the squeeze could tighten even more as feedstock costs spiral higher, which could limit fresh production.
Many processors are still working through substantial purchases made during the past couple of months, but the PlasticsExchange said it also received a steady flow of orders from customers procuring their normal supplies. There were urgent truckload needs from resellers, as their customers required quick resin because of late railcar shipments, and export demand also picked up a little, albeit challenged by competitive Asian and Saudi offers, said the resin clearinghouse. Enzymatic Recycling
Strikes could sever supply chains
A rail strike in Canada and a possible longshoremen strike at US Gulf and East Coast ports could be very problematic for supply chains. At the time of writing, however, it appears the Canadian railway strike could be short lived as a result of binding arbitration ordered by the government.
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A MACHINE LEARNING algorithm can use X-ray diffraction data from polymers to predict the behaviour of new materials.
Polymers such as polypropylene are fundamental materials in the modern world, found in a huge range of roofing materials. They are used for roofing membranes, moulded accessories and insulation. Enzymatic Recycling
Because of their ubiquity, it’s vital that materials scientists know exactly how each newly developed polymer will perform under different preparation conditions.
Thanks to a new study, which was published in Science and Technology of Advanced Materials, scientists can now use machine learning to determine what to expect from a new polymer.
Predicting the mechanical properties of new polymers, such as their tensile strength or flexibility, usually involves putting them through destructive and costly physical tests.
However, a team of researchers from Japan, led by Dr. Ryo Tamura, Dr. Kenji Nagata, and Dr. Takashi Nakanishi from the National Institute for Materials Science in Tsukuba, developed the method on a group of polymers called homo-polypropylenes. Enzymatic Recycling
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KMG, Sinopec enter FEED for proposed Atyrau PTA-PET plant
KazMunayGas and Sinopec are progressing plans for development of a plant aimed at production of polyethylene terephthalic acid and polyethylene terephthalate in Kazakhstan’s western Atyrau region.
Kazakhstan’s state-owned JSC NC KazMunayGas (KMG) and China Petroleum & Chemical Corp. (Sinopec) are progressing plans to develop a grassroots plant to produce polyethylene terephthalic acid (PTA) and polyethylene terephthalate (PET) to be built in Kazakhstan’s western Atyrau region. Enzymatic Recycling
As of Aug. 22, a preliminary feasibility study for the PTA-PET project was completed, with KMG and Sinopec now working to move into front-end engineering and design (FEED) for the proposed plant, KMG said in a statement.
While KMG did not immediately reveal a timeframe for anticipated completion of the FEED study, an updated project description on the operator’s website indicated, if approved, construction of the PTA-PET project would begin in 2025-26 and continue until 2029.
If approved, overall required investment to complete the PTA-PET plant is estimated at more than $8 billion, KMG said. Enzymatic Recycling
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German company Folienprint is at the forefront of sustainable packaging technology, particularly in the production of shrink sleeves for PET containers
Utilizing advanced printing technologies like the HP Indigo 20000 and Esko’s HD Flexo, the company emphasizes sustainability in its strategy. Folienprint collaborates closely with material suppliers and adopts innovative pre-press techniques, including the use of water-based printing plates. Enzymatic Recycling
A key partnership with Klöckner Pentaplast, a leader in rigid and flexible films, has been instrumental in Folienprint’s efforts. Klöckner’s Pentalabel® eklipse™ shrink-label film, known for its low light transmission rate of under 1.00%, helps extend product shelf-life by protecting contents from light-induced degradation. This is crucial for light-sensitive products like dairy, juice, and coconut milk, where exposure to ambient light can lead to oxidation, reducing shelf life and impacting flavor.
To support recycling efforts, Folienprint also uses Klöckner’s Pentalabel® ClearFloat™ shrink labels. These labels are designed with a density under 0.95%, allowing them to float during the recycling process. This feature aids in the separation of PET flakes, preventing contamination and improving recycling yields. The ClearFloat™ films meet the stringent guidelines of the European PET Bottle Platform and the Association of Plastic Recyclers. Enzymatic Recycling
Together, these innovations enhance the recyclability of PET containers while maintaining high-quality graphics, aligning with consumer demand for sustainable packaging solutions.
Sustainability – Lotte Fine Chemical Co., a subsidiary of South Korea’s Lotte Chemical Corp., has entered into a Clean Ammonia Value Chain Agreement (JCA) with Japan’s largest power generation company, JERA Co. 26-08-2024
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