Session Details
Global Plastics Summit Day 1
Session 1: The Big Picture
The turmoil caused by the Russia-Ukraine conflict, and more recently the Hamas-Israel war, has caused nations to reassess their energy strategies amid a more polarized geopolitical climate. Countries can no longer assume the energy transition can be facilitated by unfettered movements of raw materials and climate initiatives. Greater competition for resources and economic growth will prompt some countries to seek energy security at the cost of long-term transition to low carbon sources. Yet other countries will attempt to accelerate their transition plans as a pathway to energy security.
The stage is now set: 4 years of capacity overbuild, economic headwinds as a consequence of COVID-19 and geopolitics, logistics constraints and destocking in the value chain, and another build wave is looming. This session will cover options and scenarios for how the chain can and does adapt.
Session 2: Global Impacts
The European Polyolefin industry is at an inflection point, the linear business model faces serious challenge from cost inflation, erosion of competitive position, demand loss which threatens survival of some players. Energy transition has become a strategic priority in view of war and climate crisis, forcing companies to look at circularity, carbon footprint and resource management in a comprehensive way. No actor can stay on the sidelines, industry must transform to stay competitive and relevant. What does Chemical Market Analytics think about closure scenario, demand evolution, linear/ circular interplay.
Elevated supply self-sufficiency following burgeoning new capacity additions and the evolvement of technological debottlenecking, continued upswing in domestics demand, and growing export of resins, helped China to gain its concretely leading footing in the global polyolefins market, shifting from being overly reliant on import and making up over 70% of global growth during the period from 2018 to 2022. Speaking of new domestic supply, the surge in the capacities additions stems from the sizable building of diversified feedstock-based capacities and a slew of large-size refinery integrated petrochemical production bases that are driven by government policies. Domestic demand remained posting growth barring slow-down while ailing export of finished products seems apparent owing to the reshuffling of global supply chains amid rising decoupling risks between China and Western countries, inevitably fueling the concerns over formidable oversupply situation. Recently, polyolefins suppliers have been buffeted by a range of headwinds including falling operation rates, market prices edging downward, and the erosion of margin. However, China remains the powerhouse of global manufacturing and recent economic readings have shown some signs of stabilization after a raft of stimulus measures were launched to boost economy in 2023. This presentation is to offer deep insights on the latest fundamentals of supply and demand in China market following macroeconomic movements and its role shift in the global market in previous years and in the road ahead.
Moderator: Nick Vafiadis, Vice President, Plastics, Chemical Market Analytics by OPIS
Speakers:
Laura Chamorro, General Manager, Shell Polymers, Shell Chemical LLP
Heartland Polymers, Speaker to be announced
Session 3: Polyethylene & Polypropylene Overview
Global polyethylene markets are facing a multitude of challenges. Record capacity additions in China and North America have combined with weak demand and pressured prices, margins, and operating rates in markets all around the world. While some producers are considering shutdowns or production cutbacks, others are either already adding capacity or contemplating expansions. Sustainable alternatives to virgin fossil-based polyethylene are garnering a lot of attention but face economic and scale-related obstacles. Market participants throughout the supply chain are adjusting to these challenges and the industry will continue to adapt. The outlook for this evolving industry will be covered in depth during this presentation.
Global PP producers are entering an unprecedented period of oversupply that has already resulted in one producer in Europe announcing the upcoming shutdown of a 235,000 metric ton plant and a USA producer announcing the extended idling of a 214,000 metric ton plant. Yet, this is likely just the beginning as China capacity additions have already gone beyond meeting their own domestic needs and creating a significant regional export player. We will discuss how regional producers are expected to survive this trough and what does a low margin environment mean for global converters and brand owners. Will plentiful PP supply result in strong demand or will issues like North American propylene volatility and sustainability pushes in Europe spoil growth potential? Can Asia save the day as it has in the past with strong demand growth? This and more will be discussed.
Session 4: Market Updates
What’s the forecast for demand and price trends around the world in engineering plastics and is there a signal to buy/sell/hold inventory?
Peter Feng, Executive Director, Styrenics, Chemical Market Analytics by OPIS
PS & EPS markets surged during the pandemic but are now facing facing strong headwinds from multiple fronts. Demand has softened post pandemic, sustainability pressures have increased along with Asian imports. What’s next for PS & EPS?
In this presentation we will discuss the supply/demand fundamentals for the short-term outlook in the US and Canada market as well as trade challenges and opportunities.
Carlo Barrasa
Vice President, Energy Insights Team Lead Chemical Market Analytics by OPIS
Read BioPeter Feng
Vice President, Aromatics & Fibers Americas Chemical Market Analytics by OPIS
Read BioDewey Johnson
Senior Vice President, Global Head of Chemical Market Analytics Chemical Market Analytics by OPIS
Read BioAna Lopez
Director, Americas Vinyls and Global Sodium Sulfate Chemical Market Analytics by OPIS
Read BioKaushik Mitra
Executive Director, Europe Plastics & Polymers Chemical Market Analytics by OPIS
Read BioJoel Morales
Vice President, Polyolefins Americas Chemical Market Analytics by OPIS
Read BioNick Vafiadis
Vice President, Global Plastics & Polymers Team Lead Chemical Market Analytics by OPIS
Read BioMarcelo Wasem
Director, Americas Purified Terephthalic Acid | Polyethylene Terephthalate Chemical Market Analytics by OPIS
Read BioAlan Wei
Executive Director, China Polyolefins Chemical Market Analytics by OPIS
Read BioLaura Chamorro
General Managers Shell Polymers, Shell Chemical LLP
Read BioBrendan Dooley
Executive Director, Global Engineering Plastics Chemical Market Analytics by OPIS
Read Bio