Petrochemical Plastic Hydrogen 30-12-2020
Petrochemical Plastic Hydrogen
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The UK and EU chemicals sectors face “huge costs” over the coming years in implementing the Brexit trade deal which comes into force on 1 January, according to sector trade groups.
The deal was agreed on 24 December as a looming year-end deadline was approaching. The UK officially left the EU in January but remained as a member of the Single Market under a transition period.
The deal ended years of uncertainty for the UK and EU chemicals industries, whose supply chains are heavily intertwined after more than four decades of UK membership to the now 27-country bloc.
But the 1,246-page trade pact did not resolve all aspects for future trade within the chemicals and wider manufacturing sectors, and left practically untouched services sectors that make up 80% of the UK’s economy.
Europe’s economy is well placed to benefit from the fledgling global hydrogen economy and should decisively follow through with its hydrogen strategies, says Veronika Grimm, a member of Germany’s council of economic experts, one of the country’s most important advisory committees. Petrochemical Plastic Hydrogen
“We are in a very strong position in Germany and Europe when it comes to hydrogen and synthetic fuels, and we should keep that advantage,” Grimm told Clean Energy Wire.
“It’s very important to create, on an ambitious timeline, the energy policy framework conditions that make hydrogen-related investments attractive for european companies,” said Grimm, who is also a member of Germany’s freshly launched hydrogen council dedicated to supervising the implementation of the country’s recent hydrogen strategy. In this interview, Grimm talks about her expectations for a global hydrogen economy, its implications for industries across the globe, and why she thinks the coronavirus crisis might speed up the transition rather than slowing it.
The acquired company, Tivaco, will become part of Quality Circular Polymers, the companies’ existing 50/50 plastics recycling joint venture.
Chemical supplier LyondellBasell and French multinational environmental services provider Suez have jointly acquired Tivaco, a plastics recycling company located in Blandain, Belgium, for an undisclosed amount. Petrochemical Plastic Hydrogen
The company will become part of Quality Circular Polymers (QCP), the companies’ existing 50/50 plastics recycling joint venture. With this transaction, QCP will increase its production capacity for recycled materials to approximately 55,000 tons per year.
The recycling of PET bottles has gained worldwide acceptance over the past 20 years and has become a model for the circular economy in plastics, due to the stricter guidelines for plastic packaging and higher recycling rates set by the EU.
One such company offering systems is Austrian recycling machine manufacturer Erema and its bottle-to-bottle Vacurema technology, which allows high recyclate content. Petrochemical Plastic Hydrogen
Erema estimates the total capacity of all PET recycling machines sold to date for various applications at 2.6 million tonnes/year, with the recent trend pointing towards large-scale systems processing 2,000 kg/hour upwards.
A cautious welcome for the trade agreement reached today (24 December) over the UK’s exit from the European Union transition period on 1 January has emerged from the waste and recycling sector.
Formal approval of the post-Brexit trade deal from the European Parliament and the European Council as well as the UK Parliament is still awaited, but there are strong expectations that approval will happen. Petrochemical Plastic Hydrogen
The Environmental Services Association said that a Brexit deal which enables the free flow of materials from 1 January “has to be a good thing”. The Recycling Association echoed the importance that it brings to the free flow of materials and also highlighted remaining challenges as well as costs issues around VAT.
The automotive industry will start 2021 on rough terrain as the coronavirus pandemic continues to be the dominant factor impacting businesses.
This demonstrates the scale of damage Covid-19 has caused to the sector; at the dawn of 2020 – before the novel coronavirus had been identified – the industry had anticipated stable growth to follow from relative weakness in 2019.
European vehicle manufacturers have suffered a more severe impact than most industries in 2020. Petrochemical Plastic Hydrogen
The chemicals sector has unequivocally suffered in response to the weakness in a key downstream industry but has remained more resilient.
Depending on the material and the application, chemicals and plastics used in automotive production could continue to hold steady on the back of continued demand.
A look at the shareholders of Aquafil S.p.A. can tell us which group is most powerful. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Companies that used to be publicly owned tend to have lower insider ownership. Petrochemical Plastic Hydrogen
With a market capitalization of €246m, Aquafil is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutions own shares in the company. Let’s delve deeper into each type of owner, to discover more about Aquafil.
China, South Korea and Japan—all dominant players in the textile and garment industry—are among the countries that have signed the Regional Comprehensive Economic Partnership (RCEP). The agreement will be the first to bring the three nations together under a single FTA platform. The year that was also saw South Korea and Vietnam stepping up trade cooperation.Petrochemical Plastic Hydrogen
The Chinese economy—the world’s second-largest—shrank by 6.8 per cent in the first quarter of 2020 compared with a year ago. The contraction was the first economic shrinkage acknowledged in official statistics since 1976. But China is the only country in the world whose industry witnessed the quickest revival after being the first to be hit by the novel coronavirus, writes assistant editor Dipesh Satapathy in the January 2021 edition of Fibre2Fashion as he looks back at the year that was.
Japan aims to eliminate gasoline-powered vehicles in the next 15 years, the government said on Friday in a plan to reach net zero carbon emissions and generate nearly $2 trillion a year in green growth by 2050.
The “green growth strategy,” targeting the hydrogen and auto industries, is meant as an action plan to achieve Prime Minister Yoshihide Suga’s October pledge to eliminate carbon emissions on a net basis by mid-century.Petrochemical Plastic Hydrogen
Suga has made green investment a top priority to help revive the economy hit by the COVID-19 pandemic and to bring Japan into line with the European Union, China and other economies setting ambitious emissions targets.
“The government has set up ambitious targets to achieve a carbon neutral society in 2050,” said Yukari Takamura, professor at the University of Tokyo.
Asian petrochemicals, particularly in the polymers sector, will continue to be hit by high container freight rates as well as tight supplies in the week starting Dec. 28.
Meanwhile, demand for all petrochemicals has slowed down due to the year-end holiday lull. Market participants continued to eye startups of new petrochemical plants planned in 2021 in a bid to assess the market’s supply condition for the near-term.
**Asia’s low density polyethylene markers were stable to weak due to soft demand on the back of the year-end lull. Although prices had fallen in Southeast Asia, they remained at five-year highs, according to S&P Global Platts data.
**US supply was lower and no cargoes were headed to Asia due to high ocean container freight. Petrochemical Plastic Hydrogen
**The issue of container shortages and high freight rates, which has been impacting polymer markets, is expected to persist till early-February 2021, according to market players.
**Physical spot discussions are expected to be scarce with most Asian polypropylene sellers and buyers adopting a wait-and-see approach amid year-end holiday.
**Chinese PP demand slowed down as some downstream plants in Zhejiang province were shut for electricity control, while some in North China were shut for environmental pollution control, according to sources.
**Offers were likely to remain limited with high prices due to low stocks with many sellers.
Petrochemical Plastic Hydrogen