The automotive industry has an important relationship with the chemicals sector while remaining an instrumental force on the global economy as an employment-intensive sector.
In a fast-changing world, automotive manufacturing is susceptible to unique challenges. While vehicle manufacturers are impacted by material prices, trends impacting the market ripple upstream. Petrochemicals Antibacterial Graphene PEF
China July vehicles sales grow 16.4% on year; production up 21.9%
China’s vehicles sales in July increased 16.4% year on year to 2.1m units as stimulus measures from the government continued to drive broad recoveries in consumption and market vitality, industry data showed.
The quarter was one of the worst on record for the oil industry. The price of a barrel of benchmark US crude fell below USD 0 in April, a stunning downfall that had not before been seen in the industry Petrochemicals Antibacterial Graphene PEF
Two American oil giants lost more than USD 9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world. Exxon lost USD 1.1 billion in the second quarter, and the Irving, Texas-based oil producer brought in USD 32.6 billion in revenue, less than half of what it brought in at the same time last year. Chevron Corp. lost USD 8.27 billion during the quarter, a sharp contrast to the USD 4.3 billion it earned at the same time last year.
The quarter was one of the worst on record for the oil industry. The price of a barrel of benchmark US crude fell below USD 0 in April, a stunning downfall that had not before been seen in the industry.
EIA reports weekly fall of 4.5 million barrels for U.S. crude inventories
Oil futures climbed to end Wednesday at a five-month high, as U.S. government data showed that domestic crude supplies fell for a third week in a row.
Despite a 2.2 million-barrel shift from the Strategic Petroleum Reserve into commercial inventories, “a drop in oil imports and ongoing strength in Gulf Coast exports has led to another inventory draw” for crude, Matt Smith, director of commodity research at ClipperData, told MarketWatch, adding that “similar to last week, the draw was on the U.S. Gulf Coast, down 6.7 million barrels.” Petrochemicals Antibacterial Graphene PEF
THE European Union cost Britain billions of pounds after taking hours to grant the UK Government permission to withdraw from the European Exchange Rate Mechanism, Ken Clarke revealed. Petrochemicals Antibacterial Graphene PEF
The European Union had the UK wait “powerless’ for hours as the other member states came together to decide whether to let Britain quit the European Exchange Rate Mechanism (ERM) amidst growing reserve losses at the Bank of England. Ken Clarke told BBC Radio 4’s The Reunion the Government had planned to leave the ERM after failing to keep the pound over the EU lower currency exchange limit but could not act immediately as the rest of the bloc had to give permission. The former Chancellor said: “The whole day was one of the zaniest political gatherings I had ever been in and in an ever-mounting sense of panic took old, but not particularly on John Major.
Polyester webbing manufactured by Bally Ribbon Mills is used for seat belts.
Closing of Berry-compliant yarn manufacturers disrupts market
The polyester woven webbing market experienced serious short-term disruption from the closing of the last United States manufacturing plants that could supply yarn complying with the Berry Amendment. Petrochemicals Antibacterial Graphene PEF
After some new domestic yarn manufacturers entered the market, some manufacturers, including Bally Ribbon Mills, stepped up to produce 100 percent Berry-compliant polyester webbing for critical safety applications.
Launching officially on Kickstarter Saturday, August 15th, they’re taking pre-orders and offering a15% discount. The clothing and accessories will be available for delivery in December. Petrochemicals Antibacterial Graphene PEF
SHOO CEO Stacy Chong’s inaugural tech wear line is the Smart Armor Collection, the first-ever clothing infused with antimicrobial technology that inhibits viruses and kills bacteria.
This U.S. clothing and accessories line is a partnership with HeiQ, a Swiss textile science company that has developed one of the first textile finishing technologies successfully tested against SARS-CoV-2 (COVID-19) in the laboratory using the Viral Stability and Persistence test method.
Magnum has announced the roll out of more than 7 million ice cream tubs made with certified circular polypropylene from SABIC’s TRUCIRCLE initiative that uses feedstock made from recycling used, mixed plastic. Petrochemicals Antibacterial Graphene PEF
The launch represented the “world’s first” tub within the ice cream industry that contains recycled plastic and that aims to contribute towards the challenge of keeping plastic waste out of the environment and in the value chain.
Magnum is the first to use recycled plastic within the ice cream industry and after a successful pilot launch in Spain, Belgium and Netherlands last year, the full roll out across all European countries is another exciting step to offer more sustainable packaging to consumers.
Shortening the amount of time it takes biodegradable plastics to break down and disappear from the environment is the holy grail for bioplastics developers. The race to improve is on. Petrochemicals Antibacterial Graphene PEF
What is an acceptable timeframe for biodegradable plastics to fragment and disappear from the environment? The primary selling point for plastics that biodegrade appears to be the length of time it takes for them to vanish. Fewer than 100 years seems to be acceptable.