Petrochemicals Bioproducts Crude Oil 14-03-2020
Petrochemicals Bioproducts Crude Oil
In extraordinary times, a sense of normality is welcome, and the pull on purified terephthalic acid (PTA) and downstream polyethylene terephthalate (PET) in Europe seems to be “normal” for the time of year.
However, the reasons behind that normality are not necessarily the normal ones.
Coronavirus has hit global petrochemicals and financial markets hard, but for PET and by default its feedstock PTA, the results have not all been negative.
“In spite of the virus, I see demand as normal for time of year. It is surprising, as I thought there would be less sales or postponed sales,” a trader said.
Royal DSM, SABIC, and UPM Biofuels have announced a partnership that will help reduce the environmental footprint of Dyneema, ‘the world’s strongest fibre’.
The collaboration will see Dyneema transition to bio-based feedstock, leveraging Saudi Arabia-based SABIC’s TRUCIRCLE solutions for certified renewable products. As such, Netherlands-based DSM is delivering on its commitment to improve the sustainability footprint of Dyneema, moving towards a circular, bio-based economy.
Oil prices slipped as low as $30 per barrel this week as the new coronavirus, COVID-19, led to shuttered factories and Saudi Arabia and Russia ramping up oil production.
The future of oil prices will shape how the world recovers from the coronavirus outbreak and the fate of regional and national economies, not to mention how the world responds, or doesn’t, to the urgent threat of climate change.
Asia polyester prices plunged to a four-year low in line with falling crude and feedstock prices, and the market may remain weak in the near term as the coronavirus outbreak in the world will disrupt global demand and supply chains.
Spot polyester partially oriented yarn (POY) 150 denier (D) prices closed at $0.85-0.88/tonne FOB NE Asia, and spot polyester staple fibre (PSF) 1.4D prices were assessed $0.83-0.85/tonne at FOB NE Asia.
Similar prices were last seen in February 2016, according to ICIS.
The Indian yarn manufacturer Polygenta, specialized on the manufacturing of sustainable recycling yarns, recently commenced production of recycled polyester FDY yarns at its facilities in Nashik.
The yarn is produced using a combination of perPETual Global Technologies patented chemical recycling technology and Oerlikon Barmag’s direct spinning system equipped with the 32-end WINGS concept.
Materials firm Ingenia Polymers Corp. has acquired a toll compounding plant in Texas from LyondellBasell Industries.
The plant in LaPorte had operated as Bayshore Industrial. LBI, based in Houston and London, picked up the 100-employee plant in 2018 as part of its purchase of A. Schulman Inc. Schulman had owned the plant since 2010, when it was acquired as part of Schulman’s purchase of ICO Inc.
Officials with Houston-based Ingenia said in a March 10 news release that the acquisition “brings added expertise and capacity to [Ingenia’s)] existing world-class team and infrastructure.”
DOMO Chemicals, a leading producer of high-quality engineering materials for a diverse range of markets, has announced plans for a new state-of-the-art plant in Zhejiang, China.
The new plant will be capable of producing 50,000 tonnes of sustainable and innovative engineered nylon compounds each year. The company signed a new factory project through ‘cloud contract’ with PingHu DuShan port Economic Development District on 20 February.
Production is expected to commence in the fourth quarter of this year.
DOMO Chemicals will invest €12m in the new plant, and the company plans to install multiple production lines at the first stage of development, which would offer an estimated capacity of 25,000 tonnes per year.
The move is in line with the company’s global growth strategy with a strong focus on APAC.
“David Sudolsky, talks practical solutions for a circular economy, highlighting plastic waste as an alternative feedstock pathway for virgin polymers”, Hydrocarbon Engineering, March 2020.
Ampacet has launched its new Modern Mattes masterbatches, which can provide a matte finish in one step, without the need for spraying, dipping, or bead blasting.
The masterbatches produce a consistent, high-quality matte finish or PET and rPET blow and injection moulded applications and sheet products without the need for retooling.
Designed for use in mono, multilayer, and extrusion, and standard as well as heavy-wall applications, Modern Mattes also eliminates scrap and waste resulting from traditional secondary processes such as spraying, dipping, and bead blasting.
Reifenhäuser has become a member of the European Union Circular Plastics Alliance (CPA). On March 10, 2020, Ulrich Reifenhäuser signed a declaration that commits over 175 companies and associations to reuse 10 million metric tons of recycled plastics in new products by the year 2025. The move also takes Reifenhäuser’s systematic strategy of sustainability a step further.
“Plastics are part and parcel of recycling,” says Ulrich Reifenhäuser, explaining the company’s step in supporting the CPA. “Our industry is called upon to incorporate plastics into the Circular Economy. We bear co-responsibility to establish collection systems, recycle plastic waste, and minimize production waste.” Reifenhäuser says it already offers solutions for a functioning Circular Economy to ensure that outstanding products with excellent properties are recyclable.
Petrochemicals Bioproducts Crude Oil