Germany Petrochemicals Report Q1 2014 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-02 21:11:01
Germany remains the engine of the European chemicals and plastic industry and has been the strongest of the West European markets, according to the Germany Petrochemicals Report.
Current petrochemicals market demand is very close to the pre-2008 peak at around 8.2mn tpa. Market activity has been generated by small- and medium-sized processors with German industry excelling in niche, high value market segments. In terms of production, BASF is planning to build 300,000tpa TDI complex in Europe, possibly at its Ludwigshafen site, by end-2014. However, there has been a modest decline in basic chemicals capacities with LyondellBasell´s closure of 100,000tpa of PP and 240,000tpa of ethylene capacity in 2012.
Small-scale capacity is being shut down as German petrochemicals producers seek to cut costs and improve competitiveness. LyondellBasell closed a 100,000tpa HDPE unit in Wesseling, Germany in Q313. It was among the smallest and least efficient of the LyondellBasell HDPE units in Europe. The company has sufficient HDPE capacity to meet customer needs from its larger scale facilities, so the loss is unlikely to affect overall sales.
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