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Platts is a leading global provider of energy, petrochemicals and metals information, and a premier source of benchmark price assessments for those commodity markets. Since 1909, Platts has provided information and insights that help customers make sound trading and business decisions and enable... More
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Petrochemical Reaction
  • European Petrochemical Industry Embraces Specialty Capabilities

    The European petrochemical industry has been actively embracing specialty, value-added products as it seeks to capitalize on a series of megatrends that are shaping the economy. But investors are often skeptical - or simply don't have the patience.

    Meeting the needs of socioeconomic developments such as increasing urbanization, ageing populations, fuel efficiency, sustainability and recycling pose a challenge to society as a whole, of course, but also to the chemical industry in particular. Yet for the specialty chemical sector these megatrends represent an opportunity to carve out new and profitable niches with innovative solutions.

    As such the European petrochemical industry has been investing intensively into developing its specialty capabilities while phasing out some of its less profitable and less promising bulk commodity operations.

    It's a trend that has gathered momentum in the tougher post-2008 economic environment as the industry has sought to rationalize, consolidate and eliminate inefficient capacity and in many cases exit bulk commodity manufacturing.

    There is a certain pragmatism in embracing specialty applications for the mature European industry with its well-established asset and logistical base. It's a strategy designed to help it safeguard some of its competitiveness in the global market. Trying to compete in the production of bulk commodities against regions that have an inherently cheaper feedstock and labor bases is becoming progressively more difficult for Europe.

    To read the full article, visit Platts Petrochemical Reaction blog. Platts is a leading global provider of energy, petrochemicals and metals information.

    Oct 13 1:53 PM | Link | Comment!
  • Petrochemicals Industry Betting Big on Green Chemistry

    The industry is in a race to find renewable alternatives to fossil fuel based feedstocks. But creating commercially viable green solutions isn’t just down to getting the chemistry right.

    Concerns over energy security have been around for a long time, but the debate over climate change and recent unrest in oil-rich regions like North Africa and the Middle East is creating a growing sense of urgency among oil consuming countries to find alternatives.

    Though that effort has mainly been in the transport and power sectors, the chemicals industry too is looking for fossil fuel alternatives for its feedstocks and has in the process coined the term green chemistry.

    This drive for change has spawned a fresh wave of joint ventures and investments in companies which claim to have technologies to make renewable products reliably and in large quantities.

    To read the full article, visit Platts Petrochemical Reaction blog. Platts is a leading global provider of energy, petrochemicals and metals information.  

    Oct 03 2:58 PM | Link | Comment!
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