Report options Close dialog. This is an extract, full report available as PDF download. Download full report. In this report. Found across a vast range of modern products, petrochemicals are part of the fabric of our societies. Clothing, tyres, digital devices, packaging, detergents and countless other everyday items are made from petrochemicals. Despite its size, the sector continues to take a back seat in the global energy debate.
It also draws a path to an alternative scenario consistent with the UN Sustainable Development Goals, exploring enabling technologies and strategies, and assessing their impact on energy demand. Read press release circle-arrow. Demand for petrochemicals is surging Already a major component of the global energy system, the importance of petrochemicals is continuing to grow.
Demand for plastics — the most familiar group of petrochemical products — has outpaced that of all other bulk materials such as steel, aluminium or cement , and has nearly doubled since This underscores huge potential for growth worldwide. Plastic packaging for food and other commercial products can be made from a range of petrochemical products, including polyethylene and polystyrene Globally, more than half of ammonia is converted to urea, which is in turn mainly used as a fertiliser used to increase crop yields and boost food production Synthetic rubber is a major component of tires for cars, trucks and bicycles, and is mainly derived from the petrochemical butadiene Many of the laundry detergents and items of clothing in our washing machines are derived from petrochemicals, such as surfactants and polyester fibre.
Developing economies lead growth Although substantial increases in recycling and efforts to curb single-use plastics are expected to take place, especially in Europe, Japan and Korea, these efforts will be far outweighed by developing economies sharply increasing their shares of plastic consumption as well as its disposal.
The difficulty in finding alternatives to petrochemical products for many applications is another factor underpinning the robust overall demand growth. Petrochemicals are rapidly becoming the largest driver of global oil demand The growth in demand for petrochemical products means that petrochemicals are set to account for over a third of the growth in oil demand to , and nearly half to , ahead of trucks, aviation and shipping.
Every stock has a backstory, and the backstories offer hints and clues to what lies ahead. A smart investor will learn which clues or signals bode best for the stock. These are the ones to follow. One sound signal is insider buying. AMD stock closed the day at an all-time high as investors cheered the news, which isn't surprising as the new business could significantly boost the chipmaker's growth in the long run.
Let's see why the adoption of AMD's server chips by Meta is going to be a big deal. Riot Blockchain Inc. Investors Business Daily also added the stock to its watchlist. Riot Blockchain closed up 8. Riot Blockchain Daily Chart Analysis The stock has been pushing higher and now has reached resistance in what technical traders call an ascending triangle pattern.
This was on the back of a string of analyst downgrades of the space-tourism company's stock following Q3 results that were unveiled at the beginning of the week. Several analysts were quick to modify their views on Virgin Galactic stock after those results were published. Shares of solar energy stocks jumped almost across the board on Thursday as the industry got some good news about potential tariffs. Asian solar panel manufacturers led the way, but everyone from residential solar installers to adjacent equipment manufacturers experienced at least a small bounce.
The recent spin-off of its managed infrastructure business into a company called Kyndryl NYSE: KD removes a noncore business from its balance sheet. Also, management promised that the two companies would maintain the current combined dividend.
EST Thursday. The worse news is that it seems 3D Systems has only itself to blame for the drop. Dow Futures 35, Nasdaq Futures 16, Russell Futures 2, Crude Oil Gold 1, Silver Vix CMC Crypto 1, FTSE 7, Nikkei 29, Read full article. More content below. Trish Novicio. In this article:. Best Dividend Stock To Buy. Petrochemicals are a category of organic chemicals derived principally from two feedstocks: natural gas liquids NGL obtained from natural gas processing plants, and oil refinery streams such as naphtha and light gas oil.
NGL principally ethane, propane, and butanes are "cracked" at high temperatures to yield the primary petrochemical building blocks of ethylene, propylene, butylenes and butadiene. Cracking crude oil based feedstocks such as naphtha or gas oil yields higher ratios of the ethylene co-products propylene, butylenes and butadiene plus the aromatic products benzene, toluene, xylenes along with other co-products.
Primary petrochemicals are reacted to form secondary petrochemicals, other chemical products, or polymerized to form synthetic resins.
These in turn are incorporated into a great variety of industrial and consumer products. InCanada, ethylene is the primary petrochemical product made in the largest quantity from whichever feedstock is used. Ethylene is produced in Alberta, Ontario, and Quebec and used at nearby plants to make derivatives includingethylene oxide, ethylene glycol, ethylene dichloride, and vinyl chloride monomer, and polymerized to synthetic resins including polyethylene, polyvinyl chloride, polystyrene, and synthetic rubber.
Relative production levels for the major petrochemicals are shown in Figure 1. Under the North American Industrial Classification System NAICS , the definition of petrochemicals is limited to "acyclic aliphatic hydrocarbons and cyclic aromatic hydrocarbons".
The main chemicals falling within this definition are: ethane, butanes, ethylene, propylene, butylenes, butadiene, benzene, toluene, xylenes, ethylbenzene and styrene. Note however, that much of the benzene, toluene, and xylenes produced in Canada are streams from oil refinery operations, and as such their production is captured within NAICS — Petroleum Refineries. Similarly, most ethane and butanes are produced from gas extraction operations which are also captured in NAICS Following a decline in output caused by the recession, the industry showed strong growth in The majority of larger firms operating in Canada are owned by U.
Compared to the overall manufacturing average, Figure 2 shows that the petrochemical industry has a very high level output per employee, reflecting the capital intensiveness of this industry. The industry employs a highly skilled workforce as evidenced by the high average salary levels compared to all manufacturing in Figure 3. Canada's petrochemical plants are concentrated in Alberta, Ontario and Quebec as shown in Figure 4.
Trends in trade orientation are shown in Figure 5. Canadian exports represented 39 percent of shipments in , and imports accounted for 19 percent of the domestic market. The proportion of Canadian exports going to the United States increased from 64 percent in to percent in The proportion of our imports coming from the United States was 95 percent in The strong predominance of our trade with the United States reflects the tariff advantage resulting from the North American Free Trade Agreement, and the impact that transportation has on competitiveness in a given market.
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