Petrochemicals BGPET – Slight increase in polyester -Still weak nylon – Oil increase, petrochemical products will also increase? 10-07-2023
Petrochemicals BGPET
- Polymers : PET – r-PET – Filament grade semidull chips -Filament grade bright chips – Ny6 – My66 – PP
- Feedstocks : PX – PTA – MEG – CPL – Adipic Acid – Benzene – ACN – Ethylene – Phenol – Naphtha
- Textile : Polyester POY – DTY – FDY – PSF – Recycled Polyester POY – Nylon POY – DTY – FDY Spandex 20-30-40 -Viscose Staple Fiber VSF Acrylic Staple Fiber
| Polyestertime | |||
| ITEM | 03/07/2023 | 10/07/2023 | +/- |
| Bottle grade PET chips domestic market | 6,850 yuan/ton | 6,975 yuan/ton | +125 |
| Bottle grade PET chips export market | 895 $/ton | 895 $/ton | – |
| Filament grade Semidull chips domestic market | 6,670 yuan/ton | 6,800 yuan/ton | +130 |
| Filament grade Bright chips domestic market | 6,690 yuan/ton | 6,800 yuan/ton | +110 |
| Pure Terephthalic Acid PTA domestic market | 5,665 yuan/ton | 5,830 yuan/ton | +165 |
| Pure Terephthalic Acid PTA export market | 790 $/ton | 800 $/ton | +10 |
| Monoethyleneglycol MEG domestic market | 3,890 yuan/ton | 3,965 yuan/ton | +75 |
| Monoethyleneglycol MEG export market | 455 $/ton | 466 $/ton | +11 |
| Paraxylene PX FOB Taiwan market
Petrochemicals BGPET |
977 $/ton | 995 $/ton |
+18 |
| Paraxylene PX FOB Korea market | 954 $/ton | 972 $/ton | +18 |
| Paraxylene PX FOB EU market | 1,075 $/ton | 1,075 $/ton | – |
| Polyester filament POY 150D/48F domestic market | 7,350 yuan/ton | 7,450 yuan/ton |
+100 |
| Recycled Polyester filament POY domestic market | 7,200 yuan/ton | 7,250 yuan/ton | +50 |
| Polyester filament DTY 150D/48 F domestic market | 8,850 yuan/ton | 9,000 yuan/ton | +150 |
| Polyester filament FDY 68D24F
Petrochemicals BGPET |
8,450 yuan/ton | 8,600 yuan/ton | +150 |
| Polyester filament FDY 150D/96F domestic market | 7,980 yuan/ton | 8,150 yuan/ton | +170 |
| Polyester staple fiber 1.4D 38mm domestic market | 7,250 yuan/ton | 7,350 yuan/ton | +100 |
| Caprolactam CPL domestic market | 11,775 yuan/ton | 11,900 yuan/ton |
+125 |
| Caprolactam CPL overseas market | 1,500 $/ton | 1,500 $/ton | – |
| Nylon 6 chips overseas market | 1,720 $/ton | 1,720 $/ton | – |
| Nylon 6 chips conventional spinning domestic market | 12,600 yuan/ton | 12,550 yuan/ton | -50 |
| Nylon 6 chips high speed spinning domestic market
Petrochemicals BGPET |
13,150 yuan/ton | 13,100 yuan/ton | -50 |
| Nylon 6.6 chips domestic market | 19,000 yuan/ton | 19,000 yuan/ton | – |
| Nylon6 Filament POY 86D/24F domestic market | 15,450 yuan/ton | 15,300 yuan/ton | -150 |
| Nylon6 Filament DTY 70D/24F domestic market | 17,750 yuan/ton | 17,500 yuan/ton- | -250 |
| Nylon6 Filament FDY 70D/24F | 16,350 yuan/ton | 16,350 yuan/ton | – |
| Spandex 20D domestic market
Petrochemicals BGPET |
36,000 yuan/ton | 36,000 yuan/ton | – |
| Spandex 30D domestic market | 34.500 yuan/ton | 34,500 yuan/ton | – |
| Spandex 40D domestic market | 31,200 yuan/ton | 31,200 yuan/ton | – |
| Adipic Acid domestic market | 8,550 yuan/ton | 8,500 yuan/ton | -50 |
| Benzene domestic market
Petrochemicals BGPET |
6,220 yuan/ton | 6,390 yuan/ton | +170 |
| Benzene overseas market | 746 $/ton | 760 $/ton | +14 |
| Ethylene South East market | 750 $/ton | 750 $/ton | – |
| Ethylene NWE market | 672 $/ton | 612 $/ton | -60 |
| Acrylonitrile ACN domestic market
Petrochemicals BGPET |
7,750 yuan/ton | 7,900 yuan/ton | +150 |
| Acrylonitrile ACN overseas market | 1,250 $/ton | 1,250 $/ton | – |
| Acrylic staple fiber ASF domestic market | 13,600 yuan/ton | 13,600 yuan/ton | – |
| Viscose Staple Fiber VSF domestic market | 12,850 yuan/ton | 12,650 yuan/ton | -200 |
| PP Powder domestic market
Petrochemicals BGPET |
6,850 yuan/ton | 6,850 yuan/ton | – |
| Naphtha overseas market | 534 $/ton | 549 $/ton | +15 |
| Phenol domestic market | 6,595 yuan/ton | 6,745 yuan/ton | +150 |
Petrochemicals BGPET
r-PET high end eco-friendly chips = 8,000 yuan/ton — 7,950 yuan/ton – 50
- rPET Bottles – The renewable ethylene is the key to the Bio-MEG ? Sustainability is often only a word 08-07-2023
- New enzyme technology for environmentally friendly plastic recycling
-OPEC Maintains Its Rosy Outlook For Oil Demand In 2024
OPEC is expected to keep a bullish view on next year’s oil demand growth when it publishes its outlook on July 13, according to Reuters.
Anonymous OPEC sources who spoke to Reuters said on Thursday that OPEC’s 2024 demand outlook will likely remain upbeat and above average, although lower than this year’s oil demand growth. Petrochemicals BGPET
For 2023, OPEC said in its June report that oil demand growth was expected to be 2.35 million bpd—a 2.4% increase over 2022, and a rather high rate that comes only after a couple of years of sluggish demand courtesy of the coronavirus pandemic. This was a slight increase from its May report that forecast 2.33 million bpd.
OPEC’s 2024 oil demand growth is expected to be below that 2.35 million bpd forecast for this year, although the group is still expected to forecast above-average growth next year.
It will also likely be above IEA projections, which is anticipating a mere .86 million bpd growth. Petrochemicals BGPET
-Petrochemicals Market Overview: Forecast Growth Rate, Player Strategies, Key Segments And Regions – By The Business Research Company
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Petrochemicals Global Market Report 2023, the global petrochemicals market will grow from $671.5 billion in 2022 to $693.3 billion in 2023 at a compound annual growth rate (CAGR) of more than 3%. The petrochemicals market is then expected to grow to $786.7 billion in 2027 at a CAGR of more than 3%. Going forward, rapid industrialization, the rising demand for synthetic materials, the rising demand for electronic products and the increasing sales of electric and hybrid vehicles will drive the market growth. Petrochemicals BGPET
The global petrochemicals market is slightly concentrated, with a small number of large players in the market. Saudi Basic Industries Corporation (SABIC) was the largest competitor with 7.12% of the market, followed by Sinopec, ENEOS Holdings, Inc., LG Chem Ltd., Royal Dutch Shell, BASF SE, LyondellBasell Industries Holdings BV, Chevron, GS Caltex Corporation and Mitsubishi Chemical Group Corporation.
Artificial Intelligence (AI) is making significant advancements in the petrochemicals market, offering new opportunities for efficiency, safety and innovation. Major companies in the petrochemicals market are using artificial intelligence to produce a wide range of products. For instance, in November 2020, LivNSense Technologies Pvt Ltd., an India based industrial AI company, and Aritar Pvt Ltd., an India-based AI and Machine Learning (ML) company, launched a Center of Excellence in India, to accelerate AI and ML innovation for the petrochemical industry. Petrochemicals BGPET
The center will focus on developing and deploying AI and ML solutions that can improve the efficiency, productivity and sustainability of petrochemical production. The center will also provide training and support to help petrochemical companies adopt AI and ML technologies. Petrochemicals BGPET
This training will help companies understand the benefits of AI and ML and how to develop and deploy AI and ML solutions that can meet their specific needs.
In addition, collaborations among manufacturers in the petrochemicals market to leverage their expertise, resources and capabilities are gaining prominence in the market.
For example, in December 2022, Saudi Aramco, a Saudi Arabia-based petroleum refineries company, China Petroleum & Chemical Corporation (Sinopec), a China-based petroleum refineries company, and Saudi Arabia’s Basic Industries Corporation (SABIC), a Saudi Arabia-based chemical manufacturing company, jointly collaborated to expand their refining and petrochemical businesses in China and Saudi Arabia.
