ICIS Senior Analyst, Plastics Recycling Helen McGeough talks to Senior Editor, Recycling, Matt Tudball about European Commission Regulation (EU) 2022/1616 on recycled plastic materials and articles intended to come into contact with foods in relation to the European recycled polyethylene terephthalate (R-PET) market. 

The regulation sets out a series of deadlines by which certain packaging technologies or processes need to be registered with the Commission and the European Food Safety Authority (EFSA) by. The discussion focuses on some potential consequences for those companies who have missed, or were not aware of those deadlines, and what that might mean for the use of R-PET in certain types of food packaging going forward. 

Senior Editors Caroline Murray and Matt Tudball discuss the challenges and uncertainties faced by the polyethylene terephthalate (PET) and recycled PET (R-PET) markets so far this year, and talk about some possible scenarios that may arise during the summer months, including: 

SINGAPORE (ICIS) – Asia methanol prices were affected by falling feedstock prices, increased supply and a challenging macroeconomic scenario in H1 2023.

In this chemical podcast, Damini Dabholkar speaks with ICIS editor Keven Zhang and analyst Ann Sun to discuss recent market conditions with an outlook ahead in Asia.

BANGKOK (ICIS)—Thailand’s polyethylene (PE) market is seeing slow demand on account of reduced tourism, while additional expected capacities are likely to cap recovery.

In this chemical Podcast, ICIS Senior editor Izham Ahmad discusses recent market conditions with an outlook ahead in southeast Asia.

Falling chemical prices could be a leading indicator of a switch from inflation to deflation in the broader economy. 

-          Chemical industry leading indicator for wider economy

-          Spike in energy prices, supply chain disruption caused price hikes, inflation

-          Poor demand and excess supply could deflate prices

-          European industries introduce longer summer shutdowns 

-          Central bank policies encouraged too much growth in industrial capacity

-          GLobal economy now governed by real, underlying supply and demand

-          Aging populations around the world drag on demand growth

SINGAPORE (ICIS)--Asia and Middle East isocyanates markets are softening on slow demand, despite some tightness in H1 2023.

In this chemical podcast, ICIS editors Damini Dabholkar and Shannen Ng discuss recent market conditions while ICIS analyst Jenny Yi shares an outlook ahead in Asia.

The phosphates and ammonia markets have seen significant price settlements recently, as a lack of demand continues in both.
Senior ammonia editor Sylvia Traganida and phosphates market editor Chris Vlachopoulos discuss the latest developments in the markets. 

HOUSTON (ICIS)--Global acrylonitrile (ACN) markets remain bearish as macroeconomic concerns mount and fears over a global recession grow.

In this latest podcast, ICIS Senior Editor Lucas Hall in the US and Markets Editor Nazif Nazmul in Europe share the latest developments.

ACN is used in the production of synthetic fibres for clothing and home furnishings, engineering plastics and elastomers.

BARCELONA (ICIS)—Distributor DKSH has observed a contraction in demand since Q4 2022 in some sectors with others maintaining growth but remains focussed on transforming the business to create geographic and product balance through mergers & acquisitions (M&A) and organic growth.

-              Southeast Asia still growing but has slowed compared to recent years

-              China –  manufacturing industry sees domestic, export demand falling, oversupply, margin pressure; slight increase in demand in H2

-              Japan – macroeconomic stagnation but DKSH sees growth in specialties, life sciences

-              DKSH may benefit from consumer move to low cost products especially in food, personal care

-              Downturn longer, deeper and more impactful than 2007/2008 

-              Globally industrial demand depressed, turning point possible Q4 2023/Q1 2024

-              North America – Q4 2022 customers stopped ordering, particularly in construction 

-              Europe affected by inflation, energy prices, industrial policy

-              Personal care, food, pharma fare better than industrials

-              DKSH aims for balance between life sciences, industrials

-              M&A targets Europe, US, Asia Pacific to help balance regions

-              Digitalization, artificial intelligence to transform distribution

Cracker operating rates around the world are falling as sales volumes decline and new capacities create more imbalance between supply and demand. 

-          Global cracker operating rates 80% 2022/23 from 90% in 2015

-          Chemical sales volumes decline double-digits in Q1, Q2, Q3

-          US cracker will have to run at reduced operating rates

-          Golden Triangle Polymers project in Texas, will add 2m tonne/year capacity in 2026-2027

-          Europe will rationalise cracker fleet

-          INEOS One, Sabic Wilton, UK crackers will lighten Europe feedstock mix

-          Netherlands-based cracker expected to close in 2024

-          China will continue to import cheap US ethylene

-          Expect revisions to forecasts for 2023