Petrochemical companies are essential players in the global energy and manufacturing sectors. They produce a wide range of chemicals and products derived from crude oil and natural gas, serving industries such as plastics, chemicals, and fuels. These companies play a vital role in driving economic growth and innovation worldwide.
June 2023
A polyethylene (PE) factory by BASF has begun construction at its Verbund site in Zhanjiang, China. The brand-new facility, with a yearly capacity of 500,000 metric tonnes of PE, will meet China's rapidly expanding demand. In 2025, the plant is expected to begin operations. One of the most significant petrochemicals, ethylene, is used to make polyethylene, one of the most crucial plastics in manufacturing. Paper, consumer electronics, detergents, footwear, and adhesives are among the major applications. Additionally, it has a wide range of uses, including flexible packaging and films as well as heavy-duty storage tanks and pipelines.
The Zhanjiang Verbund site is fully backward integrated and strategically positioned close to our customers to offer them high-quality and dependable PE products for a variety of long-lasting applications, such as pipes, specialty films, and blow-molded components for household and industrial chemical containers, particularly in the South China market.
March 2023
The petrochemicals giant SABIC and the innovative engineering and technology firm Coolbrook have partnered to test Coolbrook's unique RotoDynamic ReactorTM (RDR) technology.
SABIC will evaluate Coolbrook's extensive pilot project in the Netherlands as part of the collaboration.
One of the most energy- and CO2-intensive industrial processes in the world produces important molecules like ethylene, propylene, and other compounds through steam cracking. By electrifying steam crackers instead of burning fossil fuels, Coolbrook's proprietary RDR technology makes it possible to reduce annual CO2 emissions by almost 300 million tonnes. In addition, the RDR technology outperforms conventional cracker technologies in terms of energy efficiency and up to 20% higher ethylene production.
Key Companies in the Petrochemicals market include
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Petrochemical Market Highlights:
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