Submitted by: Frbiz Tian

Business community on April 22 News for the global petrochemical demand crisis has ended, but the excess capacity to the industry pattern of crisis, the U.S. petrochemical consulting firm step analysis (CMAI) Gary Adams, president at the recent meeting of the CMAI in Houston 25th Global Petrochemical Conference that do not have to worry too much about the industry, because China and India and other emerging markets absorb new petrochemical production ability.

Slump in global demand and the declining profitability of the pattern of change in the petrochemical industry, petrochemical producers were forced to shut down equipment, spare capacity, optimize operations to improve production efficiency and reduce costs. Currently, some petrochemical manufacturers have strong competitiveness in the level before the global economic downturn.

However, new capacity in the Middle East and Asia gradually put into operation a large number of global petrochemical producers will bring greater competition. CMAI, said the next few years the global petrochemical demand is expected to average about 5% of the rate of growth, but can inhibit the production of excess profitability of the petrochemical industry, this situation will continue until 2012. From 2013 onwards, the profitability of the global petrochemical industry will begin to rebound ,2014-2015 will reach a peak in this cycle.

Adams that the next few years, petrochemical product demand growth in Asia will far exceed the global average, to 2015 average annual growth rate of at least 10%, which will provide an opportunity for local producers. Over the same period, demand for petrochemical products in North America will be an average annual growth rate of about 2%, while in Europe the average annual growth rate of about 1.7%.

CMAI said, weak demand and oversupply of the predicament, the global range of petrochemical production capacity continued rationalization, adjustment will mainly focus on high-cost areas, including northeast Asia, Western Europe and North America regions. CMAI, said about 7.5 million worldwide by 2012 -900 million tons / year of ethylene capacity will be integrated, by the end of 2008 to 2010, about 300 worldwide tons / year of ethylene capacity will be shut down.

Dow Chemical Company for oil and gas and energy, basic plastics and senior vice president of joint venture Juan Luciano said that emerging markets are forced to restructure the global petrochemical industry, petrochemical industry, the focus is shifting from North America and Europe and other mature economies body to emerging economies. Asia in the past only 15% of the global petrochemical market share, but the current 35% share has been estimated that in 15 years this proportion will reach 50%.

Luciano also pointed out that not only the Asian petrochemical producers are changing the pattern of the global petrochemical industry, BRIC (Brazil, Russia, India and China) also are at play, these countries have invested many sights of traditional petrochemical production Business does not involve the African continent. In just eight years, the BRICs GDP of Africa has been a significant increase from 22 billion U.S. dollars to 166 billion U.S. dollars.

Luciano pointed out that the impact of globalization and customer first is a main line of the global petrochemical industry. BRIC countries are leading the growth in global demand for petrochemical products, while increasing level of environmental awareness of consumers to make people demand environmentally friendly products is increasing.

In order to promote the two countries exchange of petrochemical industry, China Petroleum and Chemical Industry Association, China Chemical Network join the Iranian Chamber of Commerce in May Copolymer Ningbo, invited two senior industry experts held “in the Iranian petrochemical industry, Investment and Trade Fair”, with you to discuss with the continuous expansion of production capacity between China and Iraq under the petroleum products market! Topics include aromatics, methanol, polyolefin, gas and other petrochemical products market.

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