Petrochemical Oil Sanctions Textile 24-12-2019
Petrochemical Oil Sanctions Textile
Crude Oil Prices Trend
Leading companies operating across the polyester packaging value chain have formed a new consortium to help address the issue of plastic waste by accelerating the commercialisation of BP Infinia enhanced recycling technology
The companies involved in the partnership include those involved in the manufacture, use, collection and recycling of polyethylene terephthalate (PET) plastic packaging.
BP Infinia is designed to convert opaque and difficult-to-recycle (known as ODR) PET plastic waste, which can degrade in quality every time it is recycled using conventional methods, into recycled feedstocks that can be used again and again to produce new high-quality PET plastic packaging without loss of quality, according to the UK supermajor BP.
After falling to $57.77 a barrel on October 2, crude oil prices bounced back to trade almost at three-month high of $67.50 a barrel on Friday
Recovery in crude oil prices is set to benefit synthetic yarn manufacturers because of their ability to pass on the increase to consumers, that is, fabric manufacturers.
After falling to $57.77 a barrel on October 2, crude oil prices bounced back to trade almost at three-month high of $67.50 a barrel on Friday.Petrochemical Oil Sanctions Textile
Since synthetic yarn is a derivative of crude oil, manufacturers have been able to raise their product prices. Synthetic yarn has become costlier by 5-7 per cent in the last two months along with a jump in cotton yarn prices.
Iranian President Hassan Rouhani on Saturday welcomed Japan’s decision not to join a U.S.-led naval mission in the Gulf and said he had discussions on ways of “breaking” U.S. sanctions on a trip to Tokyo. Petrochemical Oil Sanctions Textile
Friction between Tehran and Washington has increased since last year when U.S. President Donald Trump pulled the United States out of Iran’s 2015 nuclear deal with six nations and re-imposed sanctions on the country, crippling its economy.
The Indian chemical industry accounts for about 2.11% of the country’s GDP with an estimated market size of $160 billion.
And the specialty chemicals segment accounts for around 20% of the total size. Specialty chemicals are used in different end use industries like paint coating, construction chemicals, colorants, Active Pharmaceutical Ingredients, personal care chemicals, flavours and fragrances.Petrochemical Oil Sanctions Textile
Indian specialty chemical companies are quite strong in the export market with colorants, dyes and pigments being the key export-oriented products.
Oversupply, slower global economy to weigh on crude prices
The price of oil would trade between $60 to $75 per barrel in 2020, which will lift oil revenues for GCC countries by around $40 billion (Dh147 billion), say economists.
However, they believe that the market talk of oil trading at $100 next year is far-fetched, mainly due to oversupply and a slower global economy.
“We expect the price of oil will reach $75 a barrel by the end of next year from the previous $70, which would result in the Gulf’s oil export revenues being around $40 billion – or 2.4 per cent of GDP – higher in 2020 compared with this year,” said James Swanston, economist for the Mena region at Capital Economics.Petrochemical Oil Sanctions Textile
The European recycling industry is going to miss a 2025 target for recycling PET bottles, says a new study by ICIS, a global petrochemical market information provider, unless there is a reversal of the slowing growth rate in recovery.
In March, the European Parliament adopted a Single-Use Plastics (SUP) Directive proposed by the European Commission to increase the recycling of polyethylene terephthalate (PET) – the main component in plastic bottles and containers for packaging foods and beverages and personal care products.Petrochemical Oil Sanctions Textile
This is the seventh installment in Eric Larson’s series, “True confessions: A plastics engineer gets personal with recycling.” You can read all of the previous columns, starting with part one, here. Part eight will be published at the beginning of the new year.
In product design, there is a concept known as end of life, which may range from weeks to decades.Petrochemical Oil Sanctions Textile
Once a product has reached its end of life, using it becomes problematic: Warranties are over, customer service is no longer available, replacement parts become hard to find. The product itself may still be useful, but at some point the product is basically dead.
US-based Maguire Products has renamed its vacuum resin dryer ‘Ultra’ to spotlight its lower energy consumption, which it claims can save the user thousands of dollars in energy costs per year.
Ultra uses energy to dry resin at a lower rate than a comparable desiccant dryer, claims Maguire, while savings are even greater when compared with low-efficiency old dryers still in operation in the global market.Petrochemical Oil Sanctions Textile
Vice president of marketing and sales Frank Kavanagh said: “While the energy needed to heat polymer to its required temperature is roughly the same for both vacuum and desiccant dryers, we now know that the Ultra Low Energy Dryer uses much less energy in the next stage, when the heated resin is actually dried.”
More plastic bottles were recycled in 2018 than the prior year. But because of an overall bottle production increase, the recycling rate fell.
The latest National Postconsumer Plastic Bottle Recycling Report was released this week by the American Chemistry Council (ACC) and Association of Plastic Recyclers (APR). APR owns Resource Recycling, Inc. Petrochemical Oil Sanctions Textile
The report found that U.S. consumers recycled nearly 2.9 billion pounds of plastic bottles last year, a figure that includes resins 1-7. That was an increase from 2.8 billion pounds recycled in 2017.
More polyethylene and polypropylene resin capacity is heading into the North American market in 2020, and that new capacity will have an impact on processors in the region.
Another 1.8 billion pounds of PE capacity is set to come on line next year from Formosa Plastics Corp. USA. Petrochemical Oil Sanctions Textile
That’s on top of almost 4.5 billion pounds added from three suppliers this year and a total of more than 8 billion pounds added from four suppliers in 2017-18.
Petrochemical Oil Sanctions Textile