Reep Hazarika,Managing Director, Brahmaputra Cracker and Polymer Ltd. What are the global trends in the petrochemicals sector in 2022 and how would explain its impact on India? The global petrochemicals market size was valued at US $536.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% in terms of revenue from 2021 to 2028. The International Energy Agency (IEA) has forecasted that the petrochemical sector will account for one-third of oil demand growth by 2030 and will be nearly half in 2050. It has been estimated that production of key plastics will more than double between 2010 and 2050. As per the recent study, Asia-Pacific, Middle East, and the US are the three demand centres of the petrochemicals market. Therefore, these three regions are investing heavily to boost petrochemical processing capacity to satisfy demand. Post 2016, after the dip in oil price, all Middle East Nations started to invest in new downstream processing plants, espec...

Today (On March 31) the overall trend of the domestic PE market continues to fall. East China market LLDPE and LDPE are significantly down, while east China market HDPE was temporarily stable. The overall market transaction atmosphere is difficult to improve. As of March 31, the ex-factory average price of LLDPE 7042 in east China was 6,100 RMB/ton, down 3.68% from the previous day. The average ex-factory price of LDPE 2426H in east China is about 7050 RMB/ton, down 4.24% compared with the previous day. The average ex-factory price of HDPE 5000S in east China is 6,816.67 RMB/ton, which is more stable than the previous day. LLDPE and LDPE fall range by 200-400 RMB/ton. On March 31, the international crude oil continued to close down sharply, and the plastic futures fell for several days in a row. The market mentality has been suppressed. The overall atmosphere of the PE market is difficult to improve. On March 31st, price still fell mainly, and petrochemical enterprises in major reg...