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Asia petrochemical outlook H1 2019
| January 2, 2019
We are a biotech company based in San Francisco dedicated to the discovery and development of novel therapies harnessing the power of immune system to treat neurodegenerative diseases such as Alzheimer's Disease.
Article | February 25, 2020
The global chemical industry currently represents one of the largest worldwide interacting sectors delivering essential materials to several major industries including pharmaceuticals, agriculture, manufacturing and construction, and automotive. This is an indicator of the fact that any major changes in the chemical industry could also significantly affect these related sectors. Procurement is an unceasing challenge for companies across various sectors, and procurement in the chemical industry is no exception.
BUYERS OF polypropylene (PP) and other polymers and petrochemicals have had an incredibly difficult pandemic.
Firstly, the converters and brand owners expected doom and gloom last March. At the time it seemed logical to expect a cratering of demand as the global economy pretty much imploded.
Just looking at forecasts for GDP, parallels were drawn with the Global Financial Crisis when collapses in growth led to a cratering of polymers demand. The US is a good example where PP demand declined by 12% in 2008 over 2007. Demand then fell by a further 5% in 2009 over 2008.But what we all missed was the complete dislocation of polymers and petrochemicals demand from GDP. As economies registered historic declines, consumption went up.
PP demand went through the roof, firstly for food packaging and hygiene applications.Then consumption for the durable goods made from PP also smashed through the rafters as we bought white goods (PP is used to make components of washing machines), consumer electronics (PP is used to make some electronic components) and carpets (PP fibres are used here).
Recyclers have developed state-of-art separation techniques to safely treat a wide diversity of waste streams and recover valuable materials, hence directly contributing to the circular economy. The Brochure published by Euric on ‘Sound Management of Waste & Chemicals Requirements’ highlights the main issues derived from the lack of interface between chemicals, product and waste legislation, and identifies simple solutions to boost the transition towards a more circular economy. Christer Forsgren, Chair of the Euric’s Waste & Chemicals Task Force, Environmental & Technical Director at Stena Metall AB (Sweden), and Adjunct Professor in Industrial Material Recycling at Chalmers Technical University in Gothenburg, emphasized the key role that Europe’s recycling industry plays by reducing Europe’s dependency on primary materials and by saving massive amounts of CO2 and energy.
Digital Transformation. Accelerated Globalization. Innovation. Increased Focus on Sustainability. Aggressive New Business Models. Changing Regulations. These are just some of the ways the chemical industry is evolving in recent years. And if the chemical industry is changing, it’s no surprise the role information professionals play in the organization is changing as well. So how can information professionals shift their perspective to support the changing chemical industry landscape? Here are a few ideas: Know what kinds of content chemical researchers want – and have it readily available. Driving down operational costs and speeding up time to market are high priorities for chemical companies. What can information managers do to support these strategic initiatives.
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