Episode 1225: Think Tank: Europe petrochemicals could learn lessons from Japan
European petrochemical leaders should take inspiration from Japan, which is further ahead in redu...
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Show Notes
European petrochemical leaders should take inspiration from Japan, which is further ahead in reducing base chemicals while expanding in specialties and low carbon technologies.
- Japan hit by high naphtha feedstock costs, growing global overcapacity
- 70% of crackers are more than 50 years old
- More than 10% of Japan’s crackers could close
- Downstream production also closing such as polyethylene terephthalate (PET) and paraxylene (PX)
- Japan basic chemicals losing ground, new focus on specialties
- Pushing materials for semiconductors, electronics
- Also expanding into bio-naphtha and pyrolysis oil
- Japan’s chemical companies want to licence recycling technologies
- Using ammonia and hydrogen to reduce dependence on LNG
- South Korea chemicals face existential crisis