Petrochemical SustainableSources Aromatics 16-11-2020

Petrochemical SustainableSources Aromatics

Petrochemical PETBottle PX Polymers Trend

Petrochemical SustainableSources Aromatics

Crude Oil Prices Trend 

Crude Oil Prices Trend 

-Why is Asia-Pacific (APAC) the Largest Bio-Based Polyethylene Terephthalate (PET) Market?

Since the 1950s, over 9.1 million tons of plastic has been manufactured, of which 6.9 million tons has become waste. Still, almost 6.3 million tons of it has never been through the recycling process, as per the National Geographic Society. The waste is now clogging up the earth’s soil as well as waterbodies. To tackle the problem, not only are recycling activities being promoted and mandated, but biodegradable plastic is also being manufactured, from organic sources. One such bio-based plastic is polyethylene terephthalate, or PET.  Petrochemical SustainableSources Aromatics 

Therefore, with the surging concerns over plastic pollution, the global bio-based PET market is projected to witness a considerable increase in its value, from $3,917.4 million in 2017 to $8,682.6 million by 2023, at a CAGR of 14.7% during 2018–2023 (forecast period). This material is essentially 30% ethanol derived from plants and 70% terephthalic acid (TPA) made from fossil (petroleum) sources. It is being increasingly preferred over conventional plastic owing to its renewable, recyclable, compostable, and biodegradable nature.

Petrochemical SustainableSources Aromatics

-BIOPLASTICS IN THE NEW PLASTICS ECONOMY

AS public awareness of plastic pollution and climate change increases, the global plastic industry today is seeking out alternatives.

Hence, as a plant-based alternative made from renewable materials such as starch from palm, corn, potato, cellulose and lactic acid, bioplastics are poised to play a significant role in the New Plastics Economy. Petrochemical SustainableSources Aromatics 

It breaks down faster, with a minimum amount of harmful carbon dioxide emissions, making it a more environmental-friendly alternative.

According to Plastics Europe’s Market Research and Statistics Group, the current annual production of plastic amounted to 359 million tonnes in 2018, of which bioplastics represented only 1%.

Petrochemical SustainableSources Aromatics

-Flash graphene rocks strategy for plastic waste

Rice University lab detours potential environmental hazard into useful material

Plastic waste comes back in black as pristine graphene, thanks to ACDC

That’s what Rice University scientists call the process they employed to make efficient use of waste plastic that would otherwise add to the planet’s environmental woes. In this instance, the lab of Rice chemist James Tour modified its method to make flash graphene to enhance it for recycling plastic into graphene.Petrochemical SustainableSources Aromatics 

The lab’s study appears in the American Chemical Society journal ACS Nano.

Simply, instead of raising the temperature of a carbon source with direct current, as in the original process, the lab first exposes plastic waste to around eight seconds of high-intensity alternating current, followed by the DC jolt.

Petrochemical SustainableSources Aromatics

-High-barrier mono-polyethylene solutions for 100% recyclable flexible packaging

Frankenthal, Germany/Roncello, Italy, November 12, 2020 – RKW, a leading manufacturer of excellent film solutions, and SAES Coated Films, designer and producer of advanced coatings, have jointly developed premium performance films for sustainable food packaging that offer high protection throughout the product lifecycle.

Full recyclability is becoming one of the most important prerequisites for food packaging. While many current products adopt multi-material solutions and are thus not recyclable, monomaterial PE-based packaging meets the requirements for circularity and thus contributes to global sustainability goals.Petrochemical SustainableSources Aromatics 

RKW Group and SAES Coated Films have developed a new high barrier PE film that aims for performance and recyclability at the highest levels. The first customers have already successfully produced recyclable mono-material pouches, also with zip, demonstrating the production efficiency and reliability of the film.

Petrochemical SustainableSources Aromatics

-Europe PET, PTA supply strained on BP’s Geel power outage amid mixed demand

The power failure at Geel, Belgium, on 6 November briefly brought BP Chemicals’ purified terephthalic acid (PTA) and JBF’s polyethylene terephthalate (PET) plants to a standstill, causing a strain on supplies despite mixed demand.

Although the issue was resolved quickly, an unexpected outage at a 1.37m tonne/year PTA plant such as the BP Chemicals’ one has repercussions that the market has felt through the week. Petrochemical SustainableSources Aromatics 

“Both lines are running for JBF and will be ramped up gradually to full capacity in the next week,” a source at JBF said.

BP Chemicals had not responded to a request for comment at the time of writing.

Europe PET, PTA

-Sinking US ethanol price turns crush margin negative

The ethanol crush margin fell below zero on Nov. 13 for the first time in nearly six months as plunging ethanol prices outpaced a small gain in feedstock corn futures.

The ethanol crush margin fell 5.50 points on Nov. 13 to minus 4.41 cents/gal, falling into the red for the first time since May 20, and reaching the lowest since May 6.

The margin has declined 13.32 cents in the last four trading days.

Falling ethanol prices have cut into the margin. Since Nov. 9, benchmark Chicago Argo ethanol prices have fallen 12.25 cents. S&P Global Platts assessed Chicago Argo ethanol at $1.4220/gal on Nov. 13. Petrochemical SustainableSources Aromatics 

Ethanol prices have been pushed lower by rising production of the biofuel in recent weeks. The US Energy Information Administration’s most recent data showed domestic ethanol production reaching 977,000 b/d, the highest level since March.

Sinking US ethanol price turns crush margin negative

-Strong demand prompts expansion for Röchling’s Sustaplast PET

Lahnstein, Germany-based Röchling Sustaplast, a division of Röchling Industrial,  has now completed the Sustadur expansion project with the successful start-up of new extrusion lines installed for the production of its Sustadur PET material. The added capacity will improve the availability and shorten delivery times for this engineering resin.

In 2019, Röchling added more than 3,000 square meters of floor space to its existing production hall in Lahnstein. Petrochemical SustainableSources Aromatics 

The 2 million euro ($2.3 million) investment in capacity expansion is a response to the continued strong demand for its Sustadur PET, which is available from the company as sheets and round rods in various sizes.

Strong demand prompts expansion for Röchling’s Sustaplast PET

-UK Cabinet heavyweights urge Brexit compromise

Key figures in the UK government are split over how much to move in order to secure a Brexit deal.

As the Brexit game of chicken nears the end game, some of Boris Johnson’s top team think it’s time to strike a deal. Petrochemical SustainableSources Aromatics 

Chancellor Rishi Sunak and Cabinet Office Minister Michael Gove are among a group of senior government figures now urging caution over a looming no-deal scenario which many observers say could be disastrous for the U.K. economy, according to government officials.

And while officials say that the resignation of two senior advisers in recent days — including the prime minister’s closest aide Dominic Cummings — had nothing to do with Brexit, it may have given Johnson more room for maneuver. Both Cummings and communications chief Lee Cain were part of the Vote Leave team that won the referendum and propelled Johnson’s rise to power. They have also been key figures in a powerful Downing Street faction that has often urged an uncompromising response to demands from Brussels for more movement in the talks from the U.K. government.

UK Cabinet heavyweights urge Brexit compromise

-What a Biden presidency means for oil and gas

Joe Biden has pledged to put climate change driven policies at the centre of the US energy industry

During the US presidential elections, president-elect Joe Biden made many far-reaching promises regarding the future of US energy, and in particular a pledge to spend $2trillion, spread over four years, to eliminate carbon emissions from the power sector by 2035. This is also aimed to help lift the US economy post-Covid-19 by creating “stable, well-paying jobs that drive clean energy here at home and abroad”. These commitments have created massive expectations, but will also have far-reaching impacts on energy worldwide.

But as his long political career shows, Biden is not an idealist – he is a realist and a consensus-builder. He is likely to pursue his clean energy plan in a pragmatic way.

Impact on climate change

Biden promised to completely revamp the US energy industry, putting climate change driven policies at the centre of it, something that also has wider appeal within the Democratic party. Petrochemical SustainableSources Aromatics 

What a Biden presidency means for oil and gas

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Petrochemical SustainableSources BOPET 14-11-2020