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(plastemart) -- The petrochemicals market is expected to undergo a period of significant change over the forecast period 2012-2022, as per Visiongain.
The emerging markets are expected to embark on a period of significant expansions, while Middle Eastern competition will create irrevocable changes to the competitive landscape of the global petrochemicals market over forecast period.
The damaging effects of the Euro crisis are expected to continue for a significant portion of the forecast period and this is expected to have an impact on growth in the developed regions. Nonetheless, Visiongain expects the petrochemicals market will reach a global value of USD609.30 bln in 2012.
The developing economies will play a crucial role in the development of petrochemicals over 2012-2022. The value of these markets will increase dramatically and suppliers are expected to shift their focus from the developed economies to the developing economies.
Innovation is expected to be more prevalent in the more mature regions. This is due to a global need to increase competitiveness and the mature regions will seek this through reduced costs and increased efficiency. Innovation constitutes one of the most effective ways in which these goals can be achieved.
MRC
Petrochemical market to see dramatical changes till 2022
Sibur invites Ukrainian converters to a long-term cooperation
MOSCOW (MRC) – On the back of the project of the PP production in Tobolsk, Sibur invites converters of polypropylene (PP) and polyethylene of low density (LDPE) in Ukraine to discuss the drivers of polymer market and offers a long-term cooperation and business development in the polyolefins sectors.
Sibur’s top executives of the Directorate of basic polymers will discuss the prospects of development of the regional sales network. One of the strategic goals of the company is to develop a system of long-term relationships with partners, using modern methods of technical support services to ensure maximum customer satisfaction.
Linda Naylor, a leading analyst of ICIS pricing in the European market of polyethylene and polypropylene will take part in the meeting.
Organizer of the event is the company MRC. The discussion will be held on the 30th of October 30 in Kiev, in Hotel Hyatt Regency.
MRC
Valero Meraux Oil Refinery Restarts Crude Unit After July Fire
It will take "several days" for the unit to run at full rates, according to a company source.
The company shut the entire 135,000-barrel-a-day refinery, 10 miles (16 kilometers) east of New Orleans, after the fire. It restarted downstream production units at the plant Aug. 6 and ran them at reduced rates.
However, Hurricane Isaac, which hit Louisiana in late August, as MRC reported earlier, delayed Valero’s plans to restart the crude unit in the first week of September.
Valero restarted the downstream units Sept. 4 and has been running them at reduced rates. The downstream units will advance to full rates with the crude unit, said a source.
MRC
Sabic introduces new HDPE grade for healthcare applications
(pressreleasefinder) -- SABIC has developed a new grade of high density polyethylene (HDPE) - SABIC HDPE PCG4906 - for large containers used in healthcare applications in close cooperation with Mauser, a well-known supplier of blow moulded industrial packaging solutions.
The new grade is aimed for production of such products as jerry cans, open-head and tight-head drums, and Intermediate Bulk Containers (IBCs), as well as for blow moulded bottles.
"With the new grade, SABIC is expanding its portfolio of healthcare thermoplastics to cover all types of packaging used in the sector," says Hery Randrianantoandro, Business Development Manager Healthcare, SABIC, region Europe.
Sabic is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia. Sabic is currently the second largest global ethylene glycol producer, the third largest polyethylene manufacturer, the fourth largest polyolefins manufacturer and the fourth largest polypropylene manufacturer.
MRC
Malaysian Scientex buying major film rival
(plasticsnews) -- Malaysia’s Scientex Bhd has reached an agreement to buy GW Plastics Holdings Bhd for 283.2 million Malaysian ringgit (USD92.63 million) in cash and guaranteeing current debts.
Scientex subsidiary Scientex Packaging Film Sdn Bhd will take over Great Wall Plastic Industries Bhd and GW Packaging Sdn Bhd, GW Plastics said in a filing.
The takeover, to be completed by the first quarter of next year, will boost Scientex’s industrial cast film production capacity to 154,000 metric tons per year, from 120,000 metric tons.
The acquisition increases Scientex’s export base, since 97% of GW Plastics products are exported to international markets.
Though global markets were impacted by the ongoing economic crisis in the West, the plastics packaging market was projected to maintain a steady growth. Growth market patterns would also switch to Asia Pacific and other emerging economies from the traditional European and American markets, said Scientex, in its own filing with the Malaysia stock exchange.
The company also cited plans by GW Plastic and GW Packaging to increase production capacity in the United States, China, Russia and Africa.
MRC