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Predicts that Europe will have 500,000 tons/year of ethylene capacity closed in the next three to five years
According to overseas media reports, a person in charge of Qapco recently attended the 38th annual meeting of the European Petrochemical Industry Association (EPCA) in Monte Carlo, pointing out that in the next three to five years, there will be 500,000 tons in Europe. The annual ethylene production capacity will be closed. The company’s marketing manager pointed out that due to the continuous rise of naphtha prices and the ever-decreasing profit margins of European manufacturers, at least so many European ethylene production capacity was forced to close in the medium term. He declined to speculate on which European ethylene producers would shut down the plant, but he said that the smaller producers face more pressure and the major ethylene producers will survive.