![](https://cjp-rbi-icis.s3.eu-west-1.amazonaws.com/wp-content/uploads/sites/7/2023/11/30135824/R-PET-hero.jpg)
Recycled PET (R-PET)
Driving the circular economy with actionable data on this key recycled plastic
Discover the factors influencing recycled PET (R-PET) markets
Demand for Recycled PET (R-PET) around the globe is on the rise. Driven by building pressure from both consumers and brand owners to deliver more sustainable ways of living and reducing environmental impact, this trend shows no signs of abating. A growing number of legislative targets in Europe and the US, together with country-specific developments in Asia, add yet another reason why keeping up-to-date with global R-PET markets is essential.
Navigating what has become an increasingly volatile market is a challenge for new and experienced market players. Access to comprehensive and reliable recycled polymer market data is key.
To meet the needs of buyers, sellers and traders of R-PET, we have expanded our coverage to encompass Europe, Asia, the Americas and beyond. We are recognised as the benchmark price for recycled polymers, including R-PET. Our European historic price data shows developments since coverage began in 2006, and the additions of the US and Asia reports adds a global view to this dynamic market and enables a holistic view on how this market continues to emerge around the world.
RELATED LINKS:
Other recycled fibre chain commodities that we cover
Related industries
Find out how ICIS’ expert data and analytics for Recycled PET (R-PET) help companies in your sector.
![](https://cjp-rbi-icis.s3.eu-west-1.amazonaws.com/wp-content/uploads/sites/7/2024/04/16142412/Consumer.durables.473x196.jpg)
Consumer durables and non-durables
Confidently plan ahead with a clear view of demand for raw materials and packaging chains.
![](https://cjp-rbi-icis.s3.eu-west-1.amazonaws.com/wp-content/uploads/sites/7/2024/04/16142737/Health.Pharmaceutical.473x196.jpg)
Health and Pharmaceutical
Anticipate demand and minimise exposure with industry-leading pricing, news and analysis.
![](https://cjp-rbi-icis.s3.eu-west-1.amazonaws.com/wp-content/uploads/sites/7/2024/04/16142421/Plastics.Rubber.473x196.jpg)
Plastics and Rubber converter
Optimise procurement with an end-to-end view of resins and feedstock supply chains.
Learn about our solutions for R-PET
Pricing, news and analysis
Maximise profitability in uncertain markets with ICIS’ full range of solutions for R-PET, including current and historic pricing, forecasts, supply and demand data, news and analysis.
Data solutions
Learn about Insight, Hindsight and Foresight, our dedicated commodity solutions accessible through our subscriber platform, ICIS ClarityTM or Data as a Service channels.
R-PET news
VIDEO: Europe R-PET flake prices rise in eastern Europe on higher production costs
LONDON (ICIS)–Senior editor for recycling Matt Tudball discusses the latest developments in the European recycled polyethylene terephthalate (R-PET) market, including: Colourless (C), blue flake ranges narrow in eastern Europe Contradictory C bale prices heard in parts of the east as well Wider R-PET market still impacted by summer holiday slowdown
30-Aug-2024
PODCAST: Europe, Turkey and Africa PE/PP August review, September outlook
LONDON (ICIS)–An unexpectedly active August for European polyethylene (PE) and polypropylene (PP) was rounded off by surprising news of an unexploded WW2 bomb and more details of which LyondellBasell sites might be sold or rationalised. Senior editors Vicky Ellis, Ben Lake and Samantha Wright look at what else made August unusual, and look ahead to September in this latest podcast on Europe, Africa and Turkey markets. Articles they refer to include: Joe Chang’s Insight article, A new kind of low-carbon PE, PP is coming in 2025, and low density polyethylene (LDPE), linear low density polyethylene (LLDPE) and PP multi-month spot price highs.
30-Aug-2024
Argentina petchems to take time to feel benefits from cut to import tariffs
SAO PAULO (ICIS)–Argentina’s petrochemicals players are in a wait-and-see mode about the effects a cut to import tariffs announced this week could have in the market and whether it will lower prices which, for many materials, remain higher than global prices. Earlier this week, the Argentinian cabinet said it would cut the so-called PAIS tax from 17.5% to 7.5% from 2 September. Introduced in 2012, the PAIS acronym responds to the name Tax for an Inclusive and Solidary Argentina (Impuesto Para una Argentina Inclusiva y Solidaria) and was presented by the at the time left-leaning administration as a tax on purchases of foreign currency. In practice, given that most imports are priced in dollars, the tax ended being practically an import tariff and contributed to Argentina becoming one of the most closed economies to trade in the world. President Javier Milei, in office since December 2023, has promised to turn the system upside down and make the Argentinian economy a bastion of liberalism. The cabinet’s intention is to end import tariffs altogether. The minister for the economy, Luis Caputo, has been quoted in the Argentinian press as saying the country should be “moving forward in the elimination of all export duties, a perverse tax that we do not like and hinders” Argentina’s economic progress. PETROCHEMICALS MUST WAITThis week, sources in Argentina, who have been reporting higher prices for several materials compared to the rest of the world for months, were sceptical of any quick effect from the cut to the PAIS tax. Some estimated, however, that the lower rates could slash petrochemicals import prices, on average, by $200/tonne. Most sources also mentioned the example of Dow, which is the sole polyethylene (PE) producer in Argentina and has greatly benefited from the closed economy up to now. Petrochemicals and the wider industrial sectors, including construction, remain the hardest hit industries amid the country’s recession, which is trying to digest the ‘shock therapy’ being implemented by the government. Consumers are squeezed and few can afford the luxury of even thinking about purchasing the higher-priced, petrochemicals-intensive durable goods, which are the ones which could revive the beleaguered chemicals industry. Moreover, those with stocks of materials purchased in imports under the previous PAIS rates are unlikely to lower their prices until they sell them – that period could be a few weeks or a few months. “Plastic sales remain weak because people think prices will go down with the tax reduction. But I am not convinced the reduction will be immediate and all at once. Prices could only come down once the new imports under the new regime come into force,” said one source at a large distributor. “It will be slow process, over one or two months – we will have to see how petrochemicals producers react and whether they start lowering prices straight away or do it in phases.” This source and others said Dow announced to its customers in Latin America prices increases of around $100/tonne for most materials, although that increase was not applied in Argentina, said the distribution source. Dow is Argentina’s sole producer of polyethylene. It operates facilities at the Bahia Blanca petrochemicals hub, south of Buenos Aires. According to ICIS Supply & Demand, it has the capacity to produce 730,000 tonnes/year of ethylene, 307,000 tonnes/year of high density polyethylene (HDPE), 329,000 tonnes/year of linear low density polyethylene (LLDPE), and 40,000 tonnes/year propylene. As the sole PE producer in a country locked up to external trade, Dow has greatly benefited in the past two months. Sources reported earlier in the year the company was selling PE at $2,400/tonne, when global prices stood at around $1,200/tonne. The price increase announced earlier in the year added more doubts to the company pricing strategy. Dow had not responded to a request for comment at the time of writing. The source at the large distributor added, “Dow’s $100/tonne increase was not implemented it in Argentina as prices remain higher than global prices. “If the reduction in the PAIS tax brings a reduction of $200/tonne, for example, perhaps Dow first decides to raise prices by $100/tonne and then take the $200/tonne hit and see what the market’s reaction is. Right now, we do not know how it will play out.” STAYING PUTAnother source at a petrochemicals distributor, with decades of experience behind him, described the largest recession it has seen in its career. In such an environment, he went on to say, prices should go down to prop up demand, at least, according to economy theory. But Argentina, it added, has escaped economy theory often in past decades so nothing can be taken for granted. The source even added that it was mulling whether to attend an industry event next week in Buenos Aires, just in case a business opportunity is lost while it attends the conference. On 4 September, the Latin American Petrochemical and Chemical Association (APLA) is holding its annual conference on sustainability, which together with its logistics event and the annual event are the three highlights in the Latin American petrochemicals markets. “There is a strong, very strong recession, and we have to be very attentive to each business that emerges in order to be on the edge of not losing the opportunity or do a bad sale,” said the source. Font page picture source: Shutterstock Focus article by Jonathan Lopez
29-Aug-2024
India’s JPFL Films to build 60,000 tonne/year BOPP films unit
MUMBAI (ICIS)–India’s JPFL Films Pvt Ltd plans to set up a new 60,000 tonne/year biaxially oriented polypropylene (BOPP) film unit in the western Maharashtra state, at a cost of rupee (Rs) 2.5 billion ($30 million). The company expects to begin operations at the new unit to be built at its Nashik complex in October 2025, its parent firm Jindal Poly Films said in a filing to the Bombay Stock Exchange (BSE) on 16 August. “The new line will help the company strengthen its market position and market share,” Jindal Poly Films said, adding that funding for the plant will be through internal accruals and bank financing. JPFL Films currently has a production capacity of 294,200 tonnes/year of BOPP and 170,000 tonnes/year of biaxially oriented polyethylene terephthalate (BOPET) at its Nashik facility. ($1 = Rs83.93)
27-Aug-2024
Europe top stories: weekly summary
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 23 August. Aviation fuel prices hit new lows amid growing bearishness European spot jet fuel quotations plunged to 14-month lows towards mid-week, bearing the brunt of tepid demand and ongoing upstream softness, with the short-term outlook unclear as the peak travel season winds down. Europe SAN contract prices increase double digits in August August contract prices have increased €70/tonne in the European styrene acrylonitrile (SAN) market, the first price increase since April 2024, mainly driven by composite costs of the €78/tonne contract price increase for upstream styrene, and the €36/tonne contract price increase for secondary feedstock acrylonitrile (ACN). EU plans up to 36.3% definitive tariffs on EV imports from China The European Commission (EC) has announced a draft decision to impose up to 36.3% definitive countervailing duties on imports of battery electric vehicles (EVs) from China. Quantafuel cancels pyrolysis-based chemical recycling project in Sunderland, UK Quantafuel Sunderland Limited, part of UK recycling major Viridor, has halted the development of its planned pyrolysis-based chemical recycling plant in Sunderland, a company spokesperson confirmed late on Monday. IPEX: Global index down on softer prices in NW Europe, NE Asia Lower chemical prices in northwest Europe and northeast Asia drove the global spot ICIS Petrochemical Index (IPEX) down by 0.2% in the week ending 16 August.
26-Aug-2024
VIDEO: Eastern Europe blue R-PET flake range narrows, bale outlook unclear
LONDON (ICIS)–Senior Editor for Recycling, Matt Tudball, discusses the latest developments in the European recycled polyethylene terephthalate (R-PET) market, including: Blue flake prices rise at the low end in eastern Europe Wide range of views on eastern Europe bale prices Mixed coloured flake demand remains poor September price talks getting underway
23-Aug-2024
Insight: Cooling PET scrap imports, rising PET scrap exports detailed in latest US trade figures
HOUSTON (ICIS)–In light of the recent surge of ocean freight rates, US plastic scrap trade has slowed some to overseas destinations, but still remains robust within North American borders. Albeit lower this quarter, polyethylene terephthalate (PET) plastic scrap in particular continues to be strong in import and export volumes amid a moderate domestic market. US remains a net importer of plastic scrap US PET scrap imported decreased 11% Q2 2024 vs Q1 2024 US PET scrap exported increased 62% Q2 2024 vs Q2 2023 IMPORTS SLOW ON GLOBAL FREIGHT, PET REMAINS STRONG Q2 2024 trade data from the US Census Bureau shows US imports of plastic scrap – noted by the HS code 3915 – have fallen 10% quarter on quarter, but still having increased 7% year on year when comparing with Q2 2023. Plastic scrap imports include items such as used bottles, but also other forms of recycled feedstock such as purge, leftover pairings and now also flake material. Imports totaled 114,969 tonnes in Q2 with drops seen across the major polymer groups for US scrap import. Polyethylene (PE) scrap was down 13%, while polyethylene terephthalate (PET) scrap was down 11% quarter on quarter. Based on volume alone, the drop in PET imports by 6,857 tonnes is the largest contributing factor to the overall decrease. While imports from Canada and Mexico still dominate total volumes, when looking at PET specifically, imports from Mexico have dropped off significantly. Top sending countries for PET scrap are Canada, followed by Thailand, Ecuador, Japan, Indonesia and Honduras as of the 1H2024 data. This means less than 25% of US PET scrap imports came from North America, while over 43% of PET imports originated from Asian countries, a reversal of the statistics seen just two years prior. While down quarter on quarter, PET scrap imports are still elevated in comparison to previous years, up as much as 24% year on year. As of Q2 2024, PET makes up 50% of all US imported plastic scrap, followed by the "other" plastic scrap category at 29% and PE scrap at 13%. US recycled polyethylene terephthalate (R-PET) market participants confirm they have seen a notable rise in imported R-PET activity from Asia and Latin America, particularly due to their cost-competitive position when it comes to feedstock, labor and facility costs. Though towards the back half of Q2, ocean freight rates did substantially rise, likely curtailing the window of cost competitiveness for many. Typically, imports from these overseas locations must be ordered weeks, if not months, in advance, and so Q2 import volumes largely represent demand from one to two months prior. Even with higher ocean freight rates today, US converters and recyclers continue to buy imported flake and pellet to supplement operations, as it remains cost-competitive in most cases. R-PET demand on the East Coast has continued to strengthen during the summer months and is now looking solid through the end of the year, a deviation from the typical seasonal demand pattern. Though imports come with additional transportation and cost risk, players accept that international supply is now woven into the fabric of the market, much like with virgin PET. PET EXPORTS SURGING, OTHER PLASTICS SEE WEAK GLOBAL MARKETS Despite the desire for a growing domestic recycled plastics market, feedstock material continues to bleed out of the country, specifically PET bales. US exports of plastic scrap have increased 5% quarter on quarter to a total of 112,385 tonnes, while PET scrap exports have increased 18% quarter on quarter, and a whopping 62% year on year. Though the US has always exported a portion of domestic bale material to other countries, including Mexico and some in Asia, exports to Mexico have surged in the last 10 months. This growing trade relationship is largely attributed to new capacity in Mexico, paired with strong local demand which has elevated local bale prices. As a result, Mexican recyclers have been purchasing US PET bales as a lower cost option with high availability. Overall, exports of other types of plastic scrap continue to slow, following the Chinese National Sword and Basel Convention adoption several years ago. PE continues to be a leading polymer type for US plastic scrap exports, coming in at 33,556 tonnes in Q2 2024. According to 1H24 total PE imports, India is the largest destination at 25%, followed by Indonesia at 15% Canada at 14%, and Malaysia and Vietnam tied at 13%. As of this past quarter, the US remains a net importer of plastic scrap.
22-Aug-2024
India’s BPCL to invest Rs1.7 trillion on capacity growth over five years
MUMBAI (ICIS)–India’s state-owned Bharat Petroleum Corp Ltd (BPCL) plans to invest rupee (Rs) 1.7 trillion ($20.3 billion) over the next five years to grow its refining and fuel marketing business, as well as expand its petrochemicals and green energy businesses. 44% of total earmarked for refinery, petrochemical capacity growth Bina refinery/petrochemical project due for commissioning in FY2028-29 New refinery project being mulled As part of the investment initiative named ‘Project Aspire’, some Rs750 billion will go to increasing capacity at BPCL’s refineries and expand its petrochemical portfolio, company chairman G Krishnakumar said in the company’s annual report for the fiscal year ending March 2024. “The demand for major petrochemical products is expected to rise by 7-8% annually. This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes,” Krishnakumar said. BPCL’s planned petrochemical expansions include the new petrochemical projects at its Bina refinery in the central Madhya Pradesh state, and the Kochi refinery in the southern Kerala state. The Bina project is a brownfield expansion that will raise the refinery’s capacity by 41% to 11m tonnes/year, to cater to the requirements of upcoming petrochemical plants, which include a 1.2m tonnes/year ethylene cracker and downstream units. The site is expected to produce 1.15m tonnes/year of polyethylene (PE), including high density PE (HDPE) and linear low density PE (LLDPE); 550,000 tonnes/year of polypropylene (PP); and 50,000 tonnes/year of butene-1 The complex will also produce chemicals such as benzene, toluene, xylene, the annual report said. “Technology licensors for all critical packages, and project management consultants for refinery expansion and downstream units have been onboarded and work at the site commenced in the first week of July 2024,” Krishnakumar said. BPCL has chosen US-based Lummus to provide technologies for the new ethylene plant and downstream units at the complex. The refinery will be ready for commissioning by May 2028, while petrochemical operations will begin in the financial year ending March 2029. At Kochi, BPCL’s 400,000 tonne/year PP project is progressing as per schedule and is on track for commissioning in October 2027. It plans to raise its Kochi refinery capacity by 16% over the next five years to 18m tonnes/year, based on data from the company’s latest annual report. https://subscriber.icis.com/news/petchem/news-article-00110958286 The company also plans to set up additional petrochemical capacities over the next few years. “To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years,” Krishnakumar said BPCL has begun evaluating options to set up a new refinery with a planned capacity of around 9 million to 12 million tonnes/year, a company official said, adding, “we are exploring a new refinery either on the east coast or at other locations”. In Mumbai, the company also plans to expand its refinery capacity by a third to 16m tonnes/year in the next five years, according to its annual report. In the eastern Odisha state, BPCL expects to begin operations at its 200 kilolitre/day ethanol plant at Bargarh by October 2024. Once operational, the integrated refinery is expected to produce both first generation (1G) as well as second generation (2G) ethanol using rice grain and paddy straw as feedstock. Focus article by Priya Jestin ($1 = Rs83.85) Thumbnail image: The Bharat Petroleum import terminal at Haldia in West Bengal on 13 March 2021. (Debajyoti Chakraborty/NurPhoto/Shutterstock)
20-Aug-2024
INSIGHT: Larger players hang back as Europe SAF mandates loom
LONDON (ICIS)–Fresh upcoming legislation in the EU and UK from 2025 are set to galvanise the biofuels sector by setting minimum targets for sustainable fuels usage in the aviation sector, but hesitance remains among the larger players. New mandates set to galvanise sector growth Larger incumbents still cautious about big bets Pace of demand growth after SAF mandates remains to be seen The EU sustainable aviation fuels (SAF) mandate will set a minimum floor for fuel at EU airports to contain at least 2% from 2025 and gradually tick up each year, to hit 6% by 2030. These targets ratchet up dramatically from that point, with the 2030-35 period likely to be a transformational period for the aviation sector, as the SAF mandate to increase from 6% to 20% in just five years. By 2050, SAF is expected to become the dominant form of aviation fuel, with the EU mandating that airport fuels be 70% SAF by the midpoint of the century. Over the next 26 years, aviation firms and fuels producers will need to solve many colossal questions, including the precise composition of the fuels and how those raw materials can be sourced and scaled. Although the European Commission’s ambitions for SAF growth over the next half-decade are a far cry from the step changes required between 2030 and 2050, the introduction of those first minimum targets will be transformational. “I think it’s widely seen as a game-changer in the sector,” said ICIS markets editor for biofuels Nazif Nazmul. SAF currently makes up 0.1% of the global aviation fuel mix and approximately 0.5% in the EU, according to Nazmul, so a 2% target for next year means that airport fuel providers will be under pressure to ramp up capacity quickly. SLOWING AMBITIONS Despite this, the last few months have seen a spate of delays and cancellations from some of the largest entrants to the sector, in Europe and elsewhere. BP announced in June that it is dramatically scaling back its bet on SAF, in the wake of taking full ownership of Brazil-based sugarcane and ethanol major Bunge Bioenergia. The company has paused planning of two projects and continues to assess three others, which it attributed to a desire to simplify its new fuels portfolio. Shell also announced a pause to work on its flagship Rotterdam, Netherlands biofuels plant as part of a bid to control costs, but also “to assess the most commercial way forward for the project,” according to Shell downstream renewables and energy solutions director Huibert Vigeveno. The pause will allow Shell to optimize its project development order and reduce the number of engineers on the ground at the site, but projected savings are counterbalanced by a heavy price. Shell estimates that the write-down from the move will cost the company $600 million to $1 billion. STILL EARLY STAGE Shell has not commented on the capacity for the 2025 EU mandate to improve market conditions, but the impact of the new legislation could take time to trickle through the market. Spain's Cepsa, on the other hand, is proceeding with its €1.2bn, 500,000 tonnes/year biofuels project, with start-up scheduled for 2026. “There is a huge chunk of the aviation market that biofuels was not a part of previously, when biofuels were previously relegated to road transport,” Nazmul said. “But now it has opened up to aviation and I think this is something that definitely got the oil majors interested in the first place. But I think the scale is something that they're beginning to question. Is it something that they're able to pull off right now or should they wait for the market to get a little bit more mature?”, he added. A factor in many green chemicals and green fuels markets is the imminent extent of the scale-up dictated by policymakers at a point where many technologies thought to be necessary for decarbonisation are at the pre-commercial or pilot stage. As with chemical recycling, which has seen players try to step up quickly from pilot to small scale to commercial scale plants, biofuels players need to move fast to meet targets. But the economics of the sector remain challenging for now, and future prospects opaque, meaning that slower-moving fuel sector incumbents may hang back and let more specialized firms take the first larger steps. “The pace of market growth following the rollout of the mandates remains to be seen, which is why some larger players are opting to hold back for the time being,” Nazmul said. FEEDSTOCK, TECHNOLOGY QUESTIONS Like the rest of the bio-based materials sectors, the question of what feedstocks and technologies will be viable as the market grows remains unclear, with players betting on different routes. “That's the question no one knows for sure,” Nazmul said. Currently there are seven different routes to produce SAF, and it's kind of a gamble.” “Will there be enough feedstock? Will there be enough capacity? Will we be importing for example SAF from the US? Doesn't that defeat the entire purpose of slashing emissions when you're shipping these biofuels long distances?", he added. The wider world is observing the steps taken in Europe and the US to develop a viable commercial market for SAF, but few moves have been made outside those regions so far. The same may be the case for large energy sector incumbents, who have the financial flexibility to wait for the market to mature a little before going all in. 2025 may prove to be the starting gun for the sector to develop in earnest, but the real rewards may be further down the line. “Asian countries are really interested in SAF, we're seeing some investments in Japan, but countries like India and China are yet to really commit. It's a matter of time and I'm sure those companies and those countries are assessing the best possible options out there,” Nazmul added. SECTOR BACKGROUND Biofuels are liquid fuels derived from biomass, such as biodegradable agricultural, forestry or fishery products, municipal waste, or biodegradable industrial waste. Biofuels can be categorized into four generations: First-generation: Produced from food crops like corn and sugarcane using conventional technology. These biofuels have moderate costs, as they depend heavily on crop prices. Second-generation: Made from non-food biomass like agricultural residues, wood, and waste. These are more expensive due to the advanced technology required. Third-generation: Derived from algae and other fast-growing biomass, but have high costs that are expected to decrease with technological advances. Fourth-generation: Involve biofuels that capture and store carbon during production, often using genetically modified organisms. These also have high costs but may become more affordable as technology improves. Biofuels are increasingly popular across many industries but especially in the transportation sector. This is due to concerns over the impact and supply of fossil fuels, and the fact that many of these fuels are compatible with existing systems. Supply and demand have been bolstered by legislative mandates and corporate climate commitments aimed at promoting sustainability and the environmental benefits of biofuels. This has led to a significant increase in demand in recent years. While first-generation biofuels once dominated the market, there has been a significant shift towards second-generation biofuels. Despite incentives, the global transition to biofuels faces challenges. High costs and uncertainty about profitability hinder vital investments. Long-term take-up goals have also increased concerns over supply capabilities. Insight by Tom Brown and Zara Najimi Click here to visit the ICIS biofuels topic page
19-Aug-2024
BLOG: Stop wasting time waiting for the end of the downcycle
SINGAPORE (ICIS)–Click here to see the latest blog post on Asian Chemical Connections by John Richardson. STILL WAITING FOR the end of the chemicals downturn? If so, I believe you are wasting precious time. Read in detail in today’s blog and see my ten summarised reasons below. Print this off and pin it on your boardroom wall: Most of the G20 countries, which account for more than 70% of global polyethylene demand (chemicals and polymers are equivalent to economic activity) is ageing. Immigration is of course the answer to some extent, but this is politically very difficult in the West. In the regions and countries where populations are youthful, not enough people – because of politics in the West – are likely to be able to move to the rich world for better economic opportunities, and to escape conflicts and the effects of climate change. Climate change will more likely be successfully mitigated in the rich world. But the risk is that the Developing World ex-China does not get the financing and technologies it needs to mitigate the impact of climate change. China is the immediate centre of the crisis for the global chemicals industry because global capacity was added on wrong growth assumptions. China’s chemicals demand growth could turn negative because of an ageing population, the end of the real-estate bubble and geopolitics. Geopolitics mean that we are likely to see a change in chemicals trade flows. A bipolar world – one centred on China and its allies and the other on the US and its allies – is one outcome The oil and gas majors could end up dominating chemicals to compensate for declining oil demand due to electric vehicles and fuel efficiency, as China moves to chemicals self-sufficiency by itself and/or with imports largely from its geopolitical partners in the Middle East We are in the early stages of a new industrial revolution driven by sustainability As was the case with the start of the first industrial revolution, it is impossible to say what will be the winning and losing technologies. For chemical companies without strong feedstock advantages, without the right geopolitical locations- and which have too much exposure to the diminishing China import markets – it is success in sustainability that is the route to new competitive advantage. Editor’s note: This blog post is an opinion piece. The views expressed are those of the author, and do not necessarily represent those of ICIS.
19-Aug-2024
Events and training
Events
Build your networks and grow your business at ICIS’ industry-leading events. Hear from high-profile speakers on the issues, technologies and trends driving commodity markets.
Training
Keep up to date in today’s dynamic commodity markets with expert online and in-person training covering chemicals, fertilizers and energy markets.
Contact us
Partner with ICIS and unlock a vision of a future you can trust and achieve. We leverage our unrivalled network of chemicals industry experts to support our partners as they transact today and plan for tomorrow. Capitalise on opportunity in today’s dynamic and interconnected chemicals markets, with a comprehensive market view based on trusted data, insight and analytics.
Get in touch to find out more.
READ MORE
![](https://cjp-rbi-icis.s3.eu-west-1.amazonaws.com/wp-content/uploads/sites/7/2023/11/13230505/Speak-to-us.jpg)