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Global Chemicals Quick Review
In the second half of 2018, the Southeast Asian PP market may face pressure
Affected by the dual impact of increased regional supply and weak downstream demand, the Southeast Asian polypropylene (PP) market may face pressure
in the second half of this year.
In Vietnam, Yishan Refining and Petrochemical Company (NSRP) plans to start a 400,000-tonne PP production unit
in the third quarter of this year.
Although domestic PP will continue to be in short supply, Vietnam's dependence on imported PP may decrease as new plants come into operation
.
A Vietnamese trader said: "Due to the high prices and the large number of domestic PP that will emerge, domestic buyers do not want to buy too many imported PP goods
now.
" "When domestic supply increases, PP prices may eventually fall, so Vietnamese PP downstream processors have been choosing to keep raw material inventories low in the short term, which will lead to weak PP demand
.
" In Malaysia, Lotte Chemical Titan's PP expansion project in Pasir Gudang is expected to start production in June or July, increasing PP capacity from the current 400,000 tons to 600,000 tons
.
Saudi Aramco wants to increase its competitiveness by increasing chemical production
Ahead of its 2019 IPO, Saudi Aramco is expanding its global presence
by signing downstream joint venture agreements to increase plant capacity.
Saudi Aramco sees chemical growth at the heart of its downstream strategy to reduce the risk of slowing oil demand; It plans to increase investment in refining and petrochemicals to ensure new markets
for its crude oil.
Abdulaziz al-Judaimi, Saudi Aramco's senior vice president of downstream operations, said: "Saudi Aramco plans to increase its refining capacity from the current 5 million barrels per day to 8 million ~ 10 million barrels per day by 2030 and become the world's leading chemical producer
by 2040.
”
Big data and artificial intelligence optimize refinery management
Spain's Repsol announced that it is launching a partnership with Google Cloud to apply Google's latest cloud technology to the refinery's business management
.
The project will use big data and artificial intelligence to optimize
the management of the Tarragona refinery.
The optimization goal is to maximize the efficiency of energy and other resource consumption and improve the performance of the
overall refinery operation.
To achieve this, Google will provide Repsol with its data and products, the experience of professional services consultants, and Google Cloud ML, a machine learning management service, to help the company's personnel build machine learning models
in the work environment.
The global rigid packaging market will grow rapidly
Rigid packaging is widely used in pharmaceutical, food and beverage, electronics, personal care and other industries
.
The latest research report of Grand View Research, a well-known market research and consulting company in the United States, predicts that from 2016 to 2025, the global rigid packaging market will grow at an average annual rate of 6.
7%, and the market size will reach 848.
7 billion US dollars
by 2025 。 British company Smithers Pira said that from 2017 to 2022, emerging economies will grow the fastest in the rigid packaging demand market; Asia is already the largest consumer of the rigid plastic packaging market, accounting for 31.
4% of the total global market consumption in 2017, North America ranked second with 22.
7% market share, and Western Europe ranked third
with 20% market share.
