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  1. The Rubber Market: from Crisis to Growth

    Having survived the shake-up of the industry in 2020, rubber manufacturers expect the global market to recover and hope for state support. For synthetic rubber producers, as well as the entire petrochemicals industry more widely, the past year has been challenging. The market remained turbulent, as factories closed and logistics chains were disrupted. The situation was made worse by the fact that in 2019 the production of synthetic rubber (SR) in Russia was already declining: the volume of production...

  2. A jab for the economy

    Exactly how the world economy recovers will be the driving force behind the level of demand for petrochemical products in 2021. Vaccination drives have raised expectations for a recovery in economic activity. The initial shock The worldwide pandemic seriously affected various sectors of the economy: during the first wave, when the harshest measures were implemented, demand for large swathes of commodities fell. Although supply also declined on the back of lockdowns in key producing...

  3. 2020 highlights: Riding the second wave

    Despite the economic challenges in 2020, the situation in Russia’s petrochemical industry was not so dramatic. A number of sectors showed positive dynamics. However, experts warn about potential oversupply in the basic polymer market. Negative dynamics Along with other industries, the bulk polymer market, which used to grow by more than 4% annually, faced a full-on crisis in 2020. The coronavirus pandemic exacerbated existing problems stemming fr om the supply-demand imbalance in the global market...

  4. A trend towards petrochemicals

    The petrochemicals market has reached a turning point in 2020. Volatility in hydrocarbon prices, coupled with the coronavirus pandemic, have accelerated a trend for oil producing companies to enter the petrochemicals sector. By making these forays, oil companies seek to increase the monetisation of their raw material output through the production of polymers and other chemicals. The arrival of new players, however, will put pressure on industry margins and increase competition in the domestic...

  5. Petrochemicals: highs and lows of 2020

    The petrochemical industry is coping with an unprecedented economic crisis. During the lockdown, demand in some segments sank by as much as 70%. Experts forecast recovery to pre-crisis levels of demand and prices only in 2021–2022. And then there is the risk of a second wave. Petroleum products: price fluctuations Just like the broader market, this segment saw the record slump in spring and is only now beginning to recover. One of the casualties of the coronavirus pandemic and the lockdown that...

  6. ICIS: Rules no longer apply

    ICIS reports that traditional economic models do not work during the pandemic – falling prices will not drive up the demand, lifted restrictions will not return the consumption levels, and lower GDP will not stagnate the market. According to ICIS forecasts, the medium-term demand for petrochemical products in most regions will remain weak. Oxford Economics expects the global GDP to decline by 3.5% in 2H 2020. Experts' forecasts get increasingly worse – one of the latest articles in the Economist...

  7. Petrochemical companies during the lockdown

    Petrochemical businesses are coping with the new reality as OPEC talks collapse with no deal and the coronavirus pandemic unfolds. 9 March 2020 has been dubbed the "Black Monday” in the business community. It will go down in history as the start date of the price war in the global oil markets, which followed the failure of Russia and Saudi Arabia to agree an extension to the deal cutting oil output. The current OPEC + agreement expired on 31 March. At the talks in Vienna, Russia rejected the...

  8. Oil demand is declining

    But according to OPEC, oil will remain the largest energy source until 2040. The Organisation of Petroleum Exporting Countries (OPEC) has published its annual World Oil Outlook providing a detailed medium-term (until 2024) and long-term (until 2040) oil market analysis. OPEC has downwardly revised its earlier forecasts for global oil demand citing recent signs of stress in the global economy and lower growth outlook, at least in the short and medium-term. From growth to decline According...

  9. The EU’s recycling roadmap

    The EU has set a goal of recycling 10 mt of plastic per year by 2025. The lengthy declaration and its commitments for reaching the EU target, set by the European Strategy for Plastics, were presented and adopted at an event in Brussels, Belgium, today (20 September). The alliance, made up of public and private stakeholders in plastics value chains, is part of the Commission’s efforts to reduce littering of plastics, to increase the volume of plastic material that is recycled, and to stimulate market...

  10. The future of the EU chemical industry

    Cefic launches 2050 vision for EU chemicals. Cefic has published its vision for Europe’s chemical industry in 2050, in a report entitled Molecule Managers. The association has developed an eight-point plan for the chemical industry in Europe to be successful in 2050, based on key themes. These include geopolitics, economics, circularity, climate, environment, industry, digitalization, and the United Natons strategic development goals. The report launches a dialogue about the future of the...

  11. Top tech trends on Twitter

    ... in detailed and explanatory conversations and seek to place AI in real-life contexts will be the big winners of the tech race. Chatbots have a wide variety of applications from assisting with daily tasks to entertainment. Augmented analytics powered by machine learning is another big AI trend for 2019. By providing greater access to big data insights event for non-experts, it will help companies strengthen their brands and improve efficiency across multiple business areas. One more ...

  12. Polymers in food packaging

    Increasingly fierce competition sets food companies on a never-ending quest for new packaging solutions. Ensuring freshness Nikolai Logachev, CEO of cheesemaker Aldini, says that manufacturers have three priorities when it comes to packaging – design, image quality, and guaranteed shelf life. Modern polymer packaging offers all that plus an array of choice of innovative materials and storage options made possible by rapid advancements in this area. For example, antifog films have been an...

  13. 2019 – industry at a glance

    Steve Zinger , Senior Vice President for Petrochemicals onWood Mackenzie’s chemicals team, shares his thoughts on key industry trends for this year. In the 1967 film 'The Graduate', a bold prediction was made: “There is a great future in plastics." Since then, global consumption of plastics and new applications have been the main demand drivers of the petrochemical industry. Even in 2018, plastics continued to take centre stage for the world’s petrochemical industry. Global...

  14. Global basic chemicals outlook

    The global basic chemicals industry has been experiencing an extended up-cycle. But the strong growth and elevated profitability appears to be threatened by developing economic headwinds. Basic chemicals for this discussion include ethylene, propylene, methanol, benzene, paraxylene, and chlorine. These six chemical products represent the basic building blocks from which a significant amount of durable and non-durable consumer goods are produced. Roughly half of these chemicals are converted into...

  15. What threatens the growing ethylene market?

    Strong consumer demand for everyday products from plastic packaging to clothing spurred the ethylene market growth. The market will expand by 3.4% annually, believes Vince Sinclair, Vice President of Chemical Research, Wood Mackenzie Chemicals. Ethylene is the most produced organic compound globally and the backbone of the processing industry. According to Alto Consulting Group's estimates, in 2017, the ethylene market achieved a growth of 2.6%. This surge has been driven by strong demand coupled...