The Olefins and Polyolefins Industry in 2019
Global consumption of plastics and new applic
ations have been the main demand driver of the petrochemical industry. Even in 2018, plastics continued to take center stage for the world’s petrochemical industry. Global demand growth rates exceeded global GDP growth, we saw double-digit demand growth rates in China despite a waste import ban, there was another year of peak profitability across most regional petrochemical-to-plastic value chains and consumers and governments declared war on single-use plastics. Additionally, despite engaging in a trade war with China, the U.S. began implementing a large wave of export-oriented petrochemicals and plastics investments.
China is currently only around 55% self-sufficient in the ethylene value chain and continues to be the largest importing country in the world for ethylene, polyethylene, ethylene glycol, and other ethylene derivatives. However, China will begin to measurably increase its self-sufficiency in the ethylene value chain through more domestic capacity in this sector beyond the traditionally state-controlled companies.
The dynamic market events of 2018 will be further enhanced by these key themes concerning the petrochemical industry in 2019:
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Peak crude oil transportation demand
Trends will force national oil companies (NOCs) and international oil companies (IOCs) to greatly increase participation in petrochemical markets.
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China’s drive towards self-sufficiency for basic chemicals and polymers
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Second wave of investments in North America
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Recycling of plastics
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Consumption growth in the developing world
PetroKnowledge have designed a Olefins and Polyolefins course that focuses on these market events and incorporates practical workshop sessions that help industry delegates to develop the knowledge and skills to function more effectively in their own Petrochemical organisations.
To find out more about PetroKnowledge, and enroll on one of our training programmes, contact us here.
To view more details and how to register for this course, email PetroKnowledge at reg@petroknowledge.com. To view the full Petrochemical Training Courses, please click here.
ABOUT PetroKnowledge
PetroKnowledge is the leading Oil and Gas training and Consultancy Company headquartered in Abu Dhabi, and with offices in Aberdeen and Houston. PetroKnowledge works with over 500 international business, in order to deliver technical training courses that help Oil and Gas professionals to enhance their knowledge and skills as well as being kept up-to-date with the latest methodologies and technologies in the Oil and Gas market.
