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John Pearson, president of Information Chemistry Group, pointed out at the meeting: “Since the Middle East and China have recently added a lot of ethylene capacity, some ethylene plants will be in a state of low operating rate for a long time.†He said that by 2012 About 3 million tons of ethylene production capacity will be eliminated, so that the world's ethylene production capacity and demand to achieve a better balance. Among them, half of the production capacity that has been eliminated is located in North America, which will be part of the restructuring of the Western petrochemical industry. Most of the petrochemical products from the Middle East are polyethylene, and their export volume will quadruple to reach 17 million tons in 2012.
Knad Snow, Executive Vice President of Business Services, holds a similar view. He believes that the industry will adopt more radical measures. Between now and 2013, there will be 15 million tons of ethylene and 10 million tons worldwide. Polyethylene and 5 million tons of polypropylene have excess capacity and need to be idle. Knandsche Schneider further pointed out that European and Japanese naphtha-based ethylene plants are inevitable because of the high cost of raw materials. During this period, the Middle East and China will increase their ethylene capacity by about 22 million to 23 million tons. The commissioning of these devices will certainly break the existing market structure. Under such circumstances, global manufacturers and even Middle East manufacturers must reduce the operating rate of the equipment.
Of course, there are also companies that hold different views on this. The Tasnee company in Saudi Arabia has stated that it will not reduce the operating rate of the device. Tasnee recently commissioned a cracking plant based on ethane and propane in Jubail - with a designed capacity of 1 million tons of ethylene per year, 285,000 tons of propylene per year and a low capacity of 400,000 tons per year Density and high density polyethylene devices. The joint venture was built by the Joint Venture of Saudi Arabian Ethylene and Polyethylene (SEPC) of Tasnee and LyondellBasell. A high-level person at Tasnee said: “Middle East producers are trying to ensure that the equipment is operating at full capacity. 70% of the joint venture’s products are sold by LyondellBasell in Europe and the Americas, and another 30% are sold by SEPC. We have established The five-year development goal has not yet seen oversupply."
The global economic recession has hit the petrochemical industry. The operating rate of some petrochemical plants has long been at a low level. This is the latest news from the 18th Annual Polyolefins Conference held by Zurich-based Maack Business Services in Zurich last week.