Tecmettin Kaymaz, Chief Project Officer of the Turkish Investment Support and Promotion Authority, analysed the importance of emerging economies in future economic growth. He pointed out that 70 % of global economic growth in the next five years will come from emerging and developing economies, especially the emerging middle class in Asia will be the main driver of global GDP growth in the next five years.
Wood Machenzi Chemical Company's olefin and polyolefin business research analyst Chenweili analyzed that because China's ethylene and its derivatives will continue to rely heavily on imports in the future, Asian petrochemical producers will also continue to be affected from areas where the production of raw materials is advantageous, such as North America, and strive to remain competitive.
North American exports of polyethylene resin will triple by 2020 as a large number of new ethylene projects are put into operation in North America, with exports totalling 1 million tons in 2014, according to Mazlan Razak, a management consultant at the prestigious consulting firm Laisente Asia. In the future, the United States will become the main import place for polyethylene resin in the Asian market. However, if crude oil prices remain low, the cost advantage of North American producers will be eroded.
Mark Mirosen-Sorgo, general manager of Quincannon Asia PteLimited, a shipping agency, pointed out that ethylene transport requires special loading equipment. The construction cost of the ethylene loading ship is about 10 % higher than that of the usual transport ship Gaochu. It has invested $60 billion in building ethylene shipping ports and ships under international sanctions. If international sanctions are lifted, Iran will become an important supplier and exporter of ethylene in the world.
As for the supply of propylene, it is predicted that the Asian propylene market may face an oversupply due to the current construction of a large amount of propane dehydrogenation(PDH) production capacity, which predicts that the price of propylene relative to ethylene will be depressed in the Asian market in the future.
North American exports of polyethylene resin will triple by 2020 as a large number of new ethylene projects are put into operation in North America, with exports totalling 1 million tons in 2014, according to Mazlan Razak, a management consultant at the prestigious consulting firm Laisente Asia. In the future, the United States will become the main import place for polyethylene resin in the Asian market. However, if crude oil prices remain low, the cost advantage of North American producers will be eroded.
Mark Mirosen-Sorgo, general manager of Quincannon Asia PteLimited, a shipping agency, pointed out that ethylene transport requires special loading equipment. The construction cost of the ethylene loading ship is about 10 % higher than that of the usual transport ship Gaochu. It has invested $60 billion in building ethylene shipping ports and ships under international sanctions. If international sanctions are lifted, Iran will become an important supplier and exporter of ethylene in the world.
As for the supply of propylene, it is predicted that the Asian propylene market may face an oversupply due to the current construction of a large amount of propane dehydrogenation(PDH) production capacity, which predicts that the price of propylene relative to ethylene will be depressed in the Asian market in the future.
