Demand for polyolefins in Asia is slowly increasing
Times: 2020-07-03 | Hit：1339
Andrew Lee Fagg, head of Nexant Asia, pointed out that countries such as Indonesia, the Philippines and Vietnam have strong growth potential in terms of per capita consumption of polyolefins, because these countries have a very low starting point and demand for polyolefins is slowly increasing.
Kambiz Mirkarimi, the commercial manager of Iran's Jam Petrochemical Company, said that the domestic petrochemical production in Iran has more than doubled in the past five years, from 7.9 million tons in 2009 to 16.1 million tons in 2014. However, Iran’s exports of petrochemical products have also continued to increase during the same period. Once international sanctions are lifted, petrochemical exports will increase further. In order to meet the continuous expansion of export demand for polyolefin resins, Iran will add 4.3 million tons/year of polyethylene production capacity and 750,000 tons/year of polypropylene production capacity in the next three years.
Frank Ye, partner of the consulting agency Chem1Consulting, analyzed the Asian PVC market, reminding the industry to pay special attention to the changes in the Chinese market, and pointed out that China’s PVC price is mainly determined by coal prices, while crude oil prices and PVC prices are not correlated. Big. Currently, China's polyvinyl chloride oversupply is about 10%, so Chinese polyvinyl chloride producers will look for export opportunities.
Rajen Udeshi, President of Polyester Chain of Trustworthy India, reported the situation of PET and polyester chain. There is huge room for growth in India's PET consumption in the future. The current per capita consumption of PET in India is only 0.55 kg per year, which is far below the global average of 2.63 kg. RajenUdeshi predicts that the packaging of water and carbonated soft drinks will be the main driving force of global PET demand in the next five years. The future market demand for these two types of products is expected to increase by 7% and 5% respectively.
The 6th Asian Petrochemical Conference of ChemOrbis was held in Kuala Lumpur, Malaysia on June 10. Asian plastics industry gathered at this meeting to discuss future changes in the Asian plastics market, believing that as the number of middle-class consumers increases, demand will increase accordingly. The supply and demand relationship of polyolefins tends to be balanced, and the demand for polyesters is gradually increasing. The Asian plastics market has great potential in the future.
AkbarMd.Tayoob, CEO of Pertronas Chemical Marketing, pointed out that by 2030, the number of Asian middle-class people may reach 5 billion. The growth of the number of people in this class will directly promote the rapid growth of plastic demand.
He also analyzed the challenges and opportunities faced by ASEAN petrochemical companies. He said that the main problems facing ASEAN petrochemical producers are high raw material costs, insufficient professional talents, and stricter regulations. But at the same time, the advantages of ASEAN petrochemical producers are also obvious, and demand for petrochemicals in emerging markets in Asia will continue to grow rapidly in the coming decades.
Necmettin Kaymaz, Chief Project Manager of Turkey Investment Support and Promotion Agency, analyzed the importance of emerging economies in future economic growth. He pointed out that in the next five years, 70% of global economic growth will come from emerging and developing economies, especially the emerging middle class in Asia will be the main driver of global GDP growth in the next five years.
WoodMackenzie Chemical Company’s olefin and polyolefin business research analyst Chen Weili analyzed that because China’s ethylene and its derivatives will continue to rely heavily on imports in the future, Asian petrochemical producers will continue to be impacted by regions with advantageous production materials such as North America. Strive to stay competitive.
Mazlan Razak, a management consultant for NexantAsia, a well-known consulting firm, predicts that as a large number of new ethylene projects in North America are put into operation, North American polyethylene resin exports will triple by 2020. In 2014, North American polyethylene exports totaled 100 In the future, the United States will become the main importer of polyethylene resin in the Asian market. However, if crude oil prices continue to remain low, the cost advantage of North American producers will be weakened.
Mark Mirosevic-Sorgo, general manager of shipping brokerage firm QuincannonAsiaPteLimited, pointed out that ethylene transportation requires special loading equipment. The construction cost of an ethylene loading vessel is about 10% higher than that of a normal transport vessel. Iran has invested 60 billion U.S. dollars to build ethylene ports and ships under the environment of international sanctions. If international sanctions are lifted, Iran will become an important ethylene supplier and exporter in the world.
As for the supply of propylene, it is predicted that due to the large-scale construction of propane dehydrogenation (PDH) production capacity, the Asian propylene market may face oversupply. Based on this, it is predicted that the price of propylene in the Asian market will be low relative to the price of ethylene in the future.
Kambiz Mirkarimi, the commercial manager of Iran's Jam Petrochemical Company, said that the domestic petrochemical production in Iran has more than doubled in the past five years, from 7.9 million tons in 2009 to 16.1 million tons in 2014. However, Iran’s exports of petrochemical products have also continued to increase during the same period. Once international sanctions are lifted, petrochemical exports will increase further. In order to meet the continuous expansion of export demand for polyolefin resins, Iran will add 4.3 million tons/year of polyethylene production capacity and 750,000 tons/year of polypropylene production capacity in the next three years.
Frank Ye, partner of the consulting agency Chem1Consulting, analyzed the Asian PVC market, reminding the industry to pay special attention to the changes in the Chinese market, and pointed out that China’s PVC price is mainly determined by coal prices, while crude oil prices and PVC prices are not correlated. Big. Currently, China's polyvinyl chloride oversupply is about 10%, so Chinese polyvinyl chloride producers will look for export opportunities.
Rajen Udeshi, President of Polyester Chain of Trustworthy India, reported the situation of PET and polyester chain. There is huge room for growth in India's PET consumption in the future. The current per capita consumption of PET in India is only 0.55 kg per year, which is far below the global average of 2.63 kg. RajenUdeshi predicts that the packaging of water and carbonated soft drinks will be the main driving force of global PET demand in the next five years. The future market demand for these two types of products is expected to increase by 7% and 5% respectively.
The 6th Asian Petrochemical Conference of ChemOrbis was held in Kuala Lumpur, Malaysia on June 10. Asian plastics industry gathered at this meeting to discuss future changes in the Asian plastics market, believing that as the number of middle-class consumers increases, demand will increase accordingly. The supply and demand relationship of polyolefins tends to be balanced, and the demand for polyesters is gradually increasing. The Asian plastics market has great potential in the future.
AkbarMd.Tayoob, CEO of Pertronas Chemical Marketing, pointed out that by 2030, the number of Asian middle-class people may reach 5 billion. The growth of the number of people in this class will directly promote the rapid growth of plastic demand.
He also analyzed the challenges and opportunities faced by ASEAN petrochemical companies. He said that the main problems facing ASEAN petrochemical producers are high raw material costs, insufficient professional talents, and stricter regulations. But at the same time, the advantages of ASEAN petrochemical producers are also obvious, and demand for petrochemicals in emerging markets in Asia will continue to grow rapidly in the coming decades.
Necmettin Kaymaz, Chief Project Manager of Turkey Investment Support and Promotion Agency, analyzed the importance of emerging economies in future economic growth. He pointed out that in the next five years, 70% of global economic growth will come from emerging and developing economies, especially the emerging middle class in Asia will be the main driver of global GDP growth in the next five years.
WoodMackenzie Chemical Company’s olefin and polyolefin business research analyst Chen Weili analyzed that because China’s ethylene and its derivatives will continue to rely heavily on imports in the future, Asian petrochemical producers will continue to be impacted by regions with advantageous production materials such as North America. Strive to stay competitive.
Mazlan Razak, a management consultant for NexantAsia, a well-known consulting firm, predicts that as a large number of new ethylene projects in North America are put into operation, North American polyethylene resin exports will triple by 2020. In 2014, North American polyethylene exports totaled 100 In the future, the United States will become the main importer of polyethylene resin in the Asian market. However, if crude oil prices continue to remain low, the cost advantage of North American producers will be weakened.
Mark Mirosevic-Sorgo, general manager of shipping brokerage firm QuincannonAsiaPteLimited, pointed out that ethylene transportation requires special loading equipment. The construction cost of an ethylene loading vessel is about 10% higher than that of a normal transport vessel. Iran has invested 60 billion U.S. dollars to build ethylene ports and ships under the environment of international sanctions. If international sanctions are lifted, Iran will become an important ethylene supplier and exporter in the world.
As for the supply of propylene, it is predicted that due to the large-scale construction of propane dehydrogenation (PDH) production capacity, the Asian propylene market may face oversupply. Based on this, it is predicted that the price of propylene in the Asian market will be low relative to the price of ethylene in the future.
Liu Bin