July 2024 Newsletter
MLT Analytics
An expert team focusing on ML and AI-based forecasts with solid domain knowledge in commodities and specialty products
Analysis of the PV solar module market is a critical component of our extensive coverage of the polyolefin elastomer (POE) market. We've finished the update of our groundbreaking global POE report and have some findings to report. Chemical recycling is also high on the agenda this month. Read on!
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Solar Forecasts Differ Wildly
If there's one industry whose future is difficult to gage in terms of volume shipments, then it must be solar panels. A recent article in The Economist magazine stated that International Energy Agency (IEA) five-year outlooks had typically been three times lower than actual installation (see graph below).
Other market watchers have vastly different views of what to expect over the next five years and beyond in terms of solar module installations. The most optimistic case MLT Analytics came across was from Solar Power Europe, whose High Scenario predicts around 1100 GW of installations in 2028. On the other end of the spectrum, WoodMcKenzie predicts just 352 GW of installations in 2028, with the market essentially flat over the next eight years. These forecasts differ by fact of more than 300%.
SCG, Toyo to Jointly Develop Chemical Recycling Technology
SCG Chemicals affiliate Circular Plas and Japan's Toyo Engineering are collaborating to expand capacity and business opportunities for converting ?mixed post-consumer plastics into recycled feedstock for petrochemicals.
A pilot plant in Rayong province has already succeeded in converting post-consumer plastics into pyrolysis products, a raw material for petrochemical plants, thereby closing the loop in the plastic lifecycle. This achievement is not only a technical feat but also a milestone in sustainability, as evidenced by the ISCC certification.
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Vynova Announces PVC Recycling R&D Program
Vynova has announced a research & development program to further advance PVC recycling and help the PVC value chain accelerate towards circularity. Vynova’s innovation efforts focus on technologies to remove heavy metals from dissolved rigid post-consumer PVC waste such as used window profiles or pipes.
Trinseo Opens Next-Gen Depolymerization Facility in Italy
Trinseo has opened a polymethyl methacrylate (PMMA) depolymerization facility in Rho, Italy. The pilot facility represents a significant step forward in the company’s commitment to sustainability, as the next-generation recycling technology helps advance a circular infrastructure for acrylic solutions and is aligned with Trinseo’s 2030 Sustainable Product Portfolio Goals.
We are thrilled about the opening of our depolymerization facility, which will help advance our goal to support a circular economy,” said Francesca Reverberi, Senior Vice President of Engineered Materials and Chief Sustainability Officer at Trinseo. “Our company remains committed to our sustainability goals, including investing in new recycling technologies that can support our customers in reaching their sustainability goals as well.”?
Tariffs Threaten Chinese EV Growth Potential
Here's some analysis on tariffs on Chinese EVs and the potential effects they may bring as reported in PlasticsToday.
The United States closed its borders to Chinese EVs before they even hit US highways, imposing total?tariffs amounting to a rate of 102.5%, despite extremely low levels of imports. Canada, with its tight ties to the US auto sector, also reportedly is considering new tariffs, while Washington assesses the possibility that Chinese OEMs might try to circumvent US tariffs by shifting production to Mexico to take advantage of the US-Mexico-Canada (USMCA) free trade agreement.