While a good amount of buzz at the Asia Petrochemical Industry Conference (APIC) in Sapporo, Japan, was on the coming wave of US capacity, Asia itself is undergoing major structural shifts with China and India leading the way.
China coal-to-olefins (CTO) projects are clearly slowing down, with less than 1m tonnes/year of downstream polyethylene (PE) capacity expected in 2017, according to our ICIS team in China. Many have been pushed back to after 2020, calling into question whether some will be built at all as the government sharpens its focus on reducing emissions.
However, there’s a renewed push to build and upgrade refineries, and construct new naphtha crackers. Read more
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- China and India to lead Asia’s big petrochemicals shift - May 27, 2017