• Episode 1225: Think Tank: Europe petrochemicals could learn lessons from Japan

  • Jul 25 2024
  • Length: 24 mins
  • Podcast

Episode 1225: Think Tank: Europe petrochemicals could learn lessons from Japan By cover art

Episode 1225: Think Tank: Europe petrochemicals could learn lessons from Japan

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  • Summary

  • 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
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