PODCAST: Europe petrochemicals could learn lessons from Japan

BARCELONA (ICIS)–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 with 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
• Japanese companies want to licence their chemicals technologies
• Using ammonia and hydrogen to reduce dependence on LNG
• South Korea chemicals face existential crisis

In this Think Tank podcast, Will Beacham interviews ICIS senior market development manager Itaru Kudose, ICIS senior consultant Asia John Richardson and Paul Hodges, chairman of New Normal Consulting.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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Read Paul Hodges and John Richardson’s ICIS blogs.