|Theme: Petrochemicals – Global Trends & Opportunities
The Global Petrochemical Industry is going through an unprecedented state of flux as a consequence of various developments in the feedstock sector and micro and macro economic factors causing significant and far-reaching changes in the consumer industry.
The currently visible changes on the feedstock side are seen to be a result of the existing cracker capacity switching from heavier feedstock to lighter feedstock and new ethane based crackers coming up in the US based on shale gas feed. This is expected to lead to restricted availabilities of C3-C6 and consequently trammels in the supply of propylene, butadiene and aromatics. In order to close the gap in supply of C3-C6, on purpose technologies like PDH, MTP, CTA and BDH are being studied and conceptualized. The imbalances caused by these feedstock changes are expected to impact the very way in which petrochemicals are priced and sold in the next 10 years and would further lead to requirements of new capabilities in the Industry.
In addition to feedstock, there are several micro and macro economic factors and trends which would be key drivers in the Petrochemical industry over the next 10-15 years. We have increased nationalism and regionalization in some areas versus increased globalization in others. The sustainability imperative and the consequent changes in the energy mix are leading to structural changes in the way corporates and even nations operate.
The 3rd Petrochemical Conclave targets to explore the global trends and various opportunities available for trade and investment in the Petrochemical Industry along with Innovations in Technologies for the Petrochem Industry.
The global petrochemicals market was valued at USD 472.06 billion in 2011 and is expected to reach USD 791.05 billion by 2018, growing at a CAGR of 6.7% from 2012 to 2018. In terms of volume, the global petrochemicals consumption was 436.86 million tons in 2011 and is expected to reach 627.51 million tons by 2018, growing at a CAGR of 5.4% from 2012 to 2018.
Growing consumption from major end use industries including construction, packaging, transportation, textile, plastics, healthcare and so on coupled with favorable operating conditions are expected to drive the global market for petrochemicals.
The sector has huge unrealised potential and the global petrochemical fraternity will have to work in tandem to achieve the ambitious targets set for the industry.
The 3rd Petrochemical Conclave will provide a platform for the global petrochemical fraternity to come together under one roof and would examine ways and means to explore and bring to fruition the tremendous growth opportunity provided by the Petrochemicals industry across geographies, communities, sectors, industries, economies etc., keeping in mind the geo-political and techno-commercial constraints.
The Conclave will also highlight ways to conquer commercial and technical challenges facing the Petrochemicals industry and evaluate the current economic and demographic trends associated with meeting future demands while also exploring the various opportunities and threats brought about by the current period of unprecedented structural change in the industry and studying the anticipated fundamental shift in the way the industry is run in the immediate future.
We welcome you to the 3rd Petrochemical Conclave to explore the world of Petrochemicals – key to untold future promise.