*Several major petrochemical projects, includ- **ing propane
dehydrogenation plants and a *possible steam cracker, have been announced
in 2017-18 for Europe. It is the first time for many years that Europe has
seen capital-investment announce- ments in petrochemicals of this size.
The potential projects reflect a positive outlook for the petrochemical
industry in Europe and worldwide, says Dan Holton, an EPCA board member and
global product executive/basic chemicals at ExxonMobil Chemical.
“ExxonMobil estimates that global demand for chemicals will double within
the next 20 years,” he says.
“That is more than the expected growth of energy demand and GDP over that
same period. An important reason for this positive demand outlook is the
growth of the middle class. As middle-class consumers seek higher standards
of living, they are projected to purchase more packaged goods, appliances,
automobiles, and clothing, many of which are manufactured from the
chemicals produced by our industry.”
A critical enabler of this future industry growth will be the way producers
and customers work together to increase the sustainability of the
industry’s products and services across the entire value chain, Mr Holton
says. “Plastics, for example, provide significant benefits to society,” he
says. “However, we all have to do more to address the growing challenge of
plastic waste. ExxonMobil is collaborating with industry, NGOs, and
governments to help develop solutions.”
Dan Holton notes that ExxonMobil has a long history of developing products
with significant sustainable benefits. These include lightweight plastics
for vehicles to help improve fuel efficiency; thin, durable packaging films
that extend food shelf life and reduce waste; and differentiated products
for vehicle tires that improve vehicle fuel efficiency and lower emissions.
Despite the big project announcements in Europe, there is still a
competitiveness gap in petrochemicals between Europe and other regions such
as the United States and Middle East. But Europe retains certain
fundamental strengths that can help to narrow this gap.
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