ChemOrbis’ first Egypt Event presents insight into local market
Mr. Andrea Borruso, Founder of Borruso Polymers GmbH, started the meeting with his presentation titled “The World of Petrochemicals: Basics you need to know for success”. Borusso gave a brief overview of the feedstock markets in 2014 and talked about the impacts of the crude oil crash, which hit oil exporters like Russia and Iran, made Middle East light feedstocks and coal based projects less competitive while making naphtha crackers a more attractive option. Borusso also addressed the current status of Iran’s petrochemical industry following sanctions relief. Around 73 petrochemical projects are underway in Iran while new investments are planned, but the country is still facing several challenges from lower oil revenues to the complexity of managing the process of privatization.
After Borusso’s presentation, Mirza Kadic, Business Development Director at ChemOrbis, gave participants a detailed insight on Egypt’s Polyolefin markets. According to Kadic, Egypt’s polyolefins market saw traded volumes of over 1 million tons in 2014, with PP holding the largest share. Kadic noted that demand for both PP and PE have more than doubled since 2008 and talked about growth forecasts for Egypt’s PP and PE markets within the next five years.
Alp Ozdenler, CEO of ChemOrbis, made a presentation on his company’s services and operational improvements. Ozdenler analysed characteristics of players active in the plastics industry at the beginning of his speech and gave an operational and geographical breakdown of the ChemOrbis Community. Ozdenler also explained ChemOrbis’ services of Market Information, Analysis Tools for Polymer Pricing, Trading Tools and Conferences in detail and cited the latest improvements made to these services.
Mirza Kadic also gave a detailed overview on the dynamics of the global PVC markets, starting his speech by providing a breakdown for PVC applications, which was followed by data on demand and trade flow across PVC markets in 2014. Kadic talked about the European PVC market’s evolution and informed participants about the recent developments across Egyptian, Chinese, Indian, Turkish and Russian PVC markets.
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