Europe’s petrochemical producers attending the 52nd EPCA Annual Meeting in
Vienna, Austria, on 7-10 October have a busy agenda, both at the meeting
itself and in the course of their daily business.
Grappling with the benefits and challenges offered up by circular economy
and digitalisation; reducing supply chain risk; and arguing against growing
imposition of trade tariffs are all on the “to do” list, over and above the
business-as-usual items such as feedstocks, energy and competitiveness.
Factor in participation in today’s lively merger and acquisition activity
and industry executives certainly have their hands full.
The EPCA meeting has as its theme “Petrochemicals and the low carbon
economy: versatile solutions for greater sustainability”, which covers the
industry agenda pretty well.
Delegates will be able to pick up the latest ideas on petrochemicals’
contribution to energy efficiency and creative design in the urban
environment; talent and diversity and their role in how to be a
sustainable, innovative and attractive employer; and innovative concepts
for a more sustainable supply chain.
Given the efforts and investments all the above will demand, it is
fortunate the European chemical industry, and the EU economy, are
performing well at present. Last year was certainly a strong one and
leading producers are investing in Europe again, having secured feedstocks
and seen demand and prices pick up. This year has perhaps not started quite
so strongly for polyolefins and petrochemicals in general, as ICIS and
Cefic make clear in the following pages, but there is still growth out
there to be won. Digitalisation has the potential to improve the way
companies perform in the longer term, and addressing the EU’s targets for
plastics recycling as part of its circular economy drive can also pay
dividends, if the industry and its value chain partners get to grips with
product design, waste collection, reuse and recycling. There is a lot to
play for at the moment, but also plenty of rewards on offer.
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