The phenol/acetone market is facing a challenging time! Over-supply, changing trade flow, slow derivatives markets are some of the threats facing the Phenol/acetone industry! The price of phenol may be on the decline in the APAC market, according to ChemAnalyst. The slowdown in Western markets is probably going to reduce the end-use industry's purchasing power, which will reduce Phenol offtakes. Additionally, the cost support from upstream Benzene is projected to decline in the near term due to sluggish downstream end-use industry demand. How can the industry survive & excel moving forward? What strategy should the players adopt to be competitive & stay in the game?
In April this year, Ineos Phenol has completed the acquisition of Mitsui Phenol Singapore. According to Gordon Adams, Business Director of Ineos Phenol : “Entering the Asian market via this acquisition gives INEOS Phenol a unique capability to support our global customers’ plans for future growth whilst at the same time we look forward to developing new markets and customer relationships associated with bisphenol A which will be a new product for INEOS’.
In China, more new capacities are put into operation this year and how will it impact the trade flow? Is China going to be a major Phenol exporter moving forward? Where are the alternative markets to channel these excess capacities?
Jiangsu Ruiheng C3 650,000 tons/year phenol acetone project was successfully put into operation ~ 11/1/23, www.echemi.com
Guangxi Huayi New Materials' 280,000-ton-per-year phenol-acetone unit started operation in March 2023 ~ 13/3/2023, www.industrialinfo.com
Sustainability trends is gaining traction in the Phenol/Acetone & downstream industry. Businesses are investing more in research and development of bio-based waste and residual oils in an effort to innovate in bio-based phenols. Currently, companies are offering mass-balanced renewable & alternative raw materials to significantly reduce indirect emissions in the supply chain and offer products with a reduced carbon footprint. By switching to bio-based or alternative raw materials is by far the most significant step toward meeting zero carbon emissions by 2050.
Mitsubishi Gas Chemical Launches Initiatives to Manufacture and Market Biomass Polycarbonate Products...Mitsui Chemicals to Provide Biomass Feedstock ~ 09/2/23, www.jp.mitsuichemicals.com/
CMT’s 20th Phenol/Acetone & Derivatives Markets in Bangkok on 7-8 Nov 2023 will gather leading industry experts in the Phenol/Acetone value chain to share latest updates and insights in the industry. Get latest updates on :
• Global Phenol & Acetone supply/demand gap, expansion updates & tradeflow dynamics
• Benzene/Propylene & sustainable feedstocks outlook
• Sustainable Phenol/Acetone production technology, supply demand forecast & opportunity for green products
• Derivatives market outlook – BPA, PC, Phenolic Resin, Epoxy resin, MMA, Solvents
• Recycling of epoxy resin and caprolactam
• Will China become a major exporter of Phenol & derivatives?
• Special focus on China, India, SE Asia, Europe & USA
Contact firstname.lastname@example.org for registration or more information!