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Saudi Arabia goes beyond oil
FOCUS symposia scheduled to be held immediately prior to and following the conference, all related to the intersection of catalysis and sustainability. These include symposia on Catalytic Conversion of Biomass (Taipei, June 28–30), Novel Catalysts for Energy and Environmental Issues (Sapporo, June 30–July 1), Catalytic Conversion of Energy and Resources (Seoul, June 30–July 2), Catalysis of Syngas and Methanol Conversion (Beijing, July 9–11), Environmental Catalysis (Wuhan, July 9–11), and Catalytic Activation and Selective Conversion of Energy-Related Molecules (Xiamen, July 10–12).
MARKETS AND BUSINESS Global market for emission control catalysts to be worth over $16 bn by 2021 The global emission control catalyst (ECC) sector is set to grow at 10.37% CAGR to $16.09 bn by 2021, according to MarketsandMarkets. In terms of market share, platinum and automotive lead among material and application segments, respectively. Europe leads all regions in terms of market share and growth rate. Original Source: Chemical Weekly, 12 Apr 2016, 178 (Website: http://www.chemicalweekly.com) © Sevak Publications & Chemical Weekly Database P Ltd 2016.
Saudi Arabia goes beyond oil An oil cost of $30/barrel supports Saudi Arabia's radical Vision 2030. At that price level, Saudi Arabia, which is the largest oil producer worldwide, should create new revenue streams and reduce its dependence to oil. The float of Saudi Aramco, which is anticipated to be below 5% of the firm, would expand the size of Saudi stock market by twofold. The country's Public Investment Fund is likely to be more significant in the economy. It is likely to reach $100 bn in 2016 and upsurge to $2000 bn as it becomes the primary source of savings in Saudi Arabia post-oil. These changes will benefit the chemical sector. Meanwhile, the joint venture between Dow Chemical and Aramco will run 26 production assets at the Sadara integrated complex. Located in Jubail, the site is the first in the Middle East to utilize ethane and refinery liquids such as naphtha as feedstock. It will generate over 3 M tonnes/y of chemicals and plastics. Saudi Aramco will produce aromatics at its
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petrochemical units and refineries. Phase II of its Petro Rabigh venture with Sumitomo Chemical, which includes a new aromatics complex, will be brought online in 2016. Saudi Aramco Total Refining and Petrochemical Company (SATORP) is currently one of the largest and most complex refineries worldwide. At present, it can convert up to 400,000 barrels/d of Arabian Heavy crude into feedstocks and fuels. It generates 1 M tonnes/y of paraxylene (PX), propylene and benzene. On 27 Apr 2016, crude oil futures were at its highest for 2016 after the depreciation of US dollar. Brent contract for Jun 2016 was trading at $47.23/barrel at 11:05 London time. The Brent front-month contract surpassed the $47.00/barrel level on 26 Apr 2016 after US Federal Reserve announced that interest rates would remain the same for now. US crude output dropped to 8.94 M barrels/d on 27 Apr 2016, the lowest since Oct 2014, according to US Energy Information Agency.
formic acid. Meanwhile, BASF eyes formic acid for fuel cells. Canadian startup Mantra Energy Alternatives intends to enter into the formic acid market. It is searching for funds to build a pilot facility next to a cement plant in Richmond, BC, that will supply CO2 emissions from its kiln. It is also aiming to establish formic acid as a direct fuel for fuel cells and for hydrogen storage. Original Source: Chemical and Engineering News, 7-14 Dec 2015, 93 (48), 30 (Website: http://cen.acs. org/index.html) © American Chemical Society 2015.
Nickel catalyst research moves into high gear
According to a MarketsandMarkets report, the global technical enzymes market is projected to reach $1.27 bn by 2021, at a CAGR of 3.4%.
In the search for cheaper, clean, renewable energy, North American researchers are working to develop new nickel catalysts that will make fuel cells more affordable. While rechargeable batteries, to date, have had the greatest commercial success, a team of researchers from the University of Delaware recently reported a breakthrough that promises to make fuel cells more affordable by replacing expensive platinum with catalysts made from nickel at a significantly lower cost. Peak power density of HEMFC is less than PEMFC, but the researchers synthesized Ni nanoparticles supported on nitrogen-doped carbon nanotubes, which display activities similar to Pt in HEMFC.
Original Source: MarketsandMarkets, Found on PR Newswire, 29 Apr 2016 (Website: http://www. prnewswire.com) © MarketsandMarkets, 2016.
Original Source: Nickel (Nickel Development Institute), Apr 2016, 31 (1), 15 (Website: http:// www.nickelinstitute.org) © Nickel Institute 2016.
Original Source: ICIS Chemical Business, 2-8 May 2016, 289 (16), 10-11 (Website: http://www.icis. com) © Reed Business Information Limited 2016.
Technical enzymes market worth $1.27 bn by 2021
Small acid, big hopes: a rosy outlook for formic acid attracts chemical companies Formic acid, the simplest carboxylic acid, has a relatively small market. In the US, there has been no formic acid plant until Nov 2015, when BASF begun producing the chemicals at its Geismar, LA complex. The demand for formic acid is growing because of its nontoxic and noncorrosive properties. Formic acid is finding use in applications as varied as oils wells and feed silos. The market for this chemical will increase to 5.6%/y through 2019. Due to the acid's potential, BASF and other chemical firms are entering into the business. BASF's new over 50,000-tonne/y formic acid facility in Geismar produces formic acid and methanol by combining carbon monoxide and methanol into methyl formate then treating the mixture with water. This unit, together BASF's plants in Ludwigshafen, Germany and Nanjing, China, have a combined capacity of 255,000 tonnes of
COMPANY NEWS New catalyst produces sulfur-free CO2 from Icelandic geothermal facility Icelandic geothermal power company HS Orka hf has signed a contract with Topsoe for a plant to transform excess CO2 into a commercial product. The plant is the first to use Topsoe's new selective oxidation catalyst SMC to remove sulfur from CO2, which is an attractive commercial opportunity for many geothermal power plants around the world. Geothermal heat sources around the world are utilized for green power production but can also deliver commercially attractive CO2. However, the valuable gas is typically polluted by sulfur that prevents its industrial use and
June 2016
MARKETS AND BUSINESS Global market for emission control catalysts to be worth over $16 bn by 2021 The global emission control catalyst (ECC) sector is set to grow at 10.37% CAGR to $16.09 bn by 2021, according to MarketsandMarkets. In terms of market share, platinum and automotive lead among material and application segments, respectively. Europe leads all regions in terms of market share and growth rate. Original Source: Chemical Weekly, 12 Apr 2016, 178 (Website: http://www.chemicalweekly.com) © Sevak Publications & Chemical Weekly Database P Ltd 2016.
Saudi Arabia goes beyond oil An oil cost of $30/barrel supports Saudi Arabia's radical Vision 2030. At that price level, Saudi Arabia, which is the largest oil producer worldwide, should create new revenue streams and reduce its dependence to oil. The float of Saudi Aramco, which is anticipated to be below 5% of the firm, would expand the size of Saudi stock market by twofold. The country's Public Investment Fund is likely to be more significant in the economy. It is likely to reach $100 bn in 2016 and upsurge to $2000 bn as it becomes the primary source of savings in Saudi Arabia post-oil. These changes will benefit the chemical sector. Meanwhile, the joint venture between Dow Chemical and Aramco will run 26 production assets at the Sadara integrated complex. Located in Jubail, the site is the first in the Middle East to utilize ethane and refinery liquids such as naphtha as feedstock. It will generate over 3 M tonnes/y of chemicals and plastics. Saudi Aramco will produce aromatics at its
2
ON
C ATA LY S T S
petrochemical units and refineries. Phase II of its Petro Rabigh venture with Sumitomo Chemical, which includes a new aromatics complex, will be brought online in 2016. Saudi Aramco Total Refining and Petrochemical Company (SATORP) is currently one of the largest and most complex refineries worldwide. At present, it can convert up to 400,000 barrels/d of Arabian Heavy crude into feedstocks and fuels. It generates 1 M tonnes/y of paraxylene (PX), propylene and benzene. On 27 Apr 2016, crude oil futures were at its highest for 2016 after the depreciation of US dollar. Brent contract for Jun 2016 was trading at $47.23/barrel at 11:05 London time. The Brent front-month contract surpassed the $47.00/barrel level on 26 Apr 2016 after US Federal Reserve announced that interest rates would remain the same for now. US crude output dropped to 8.94 M barrels/d on 27 Apr 2016, the lowest since Oct 2014, according to US Energy Information Agency.
formic acid. Meanwhile, BASF eyes formic acid for fuel cells. Canadian startup Mantra Energy Alternatives intends to enter into the formic acid market. It is searching for funds to build a pilot facility next to a cement plant in Richmond, BC, that will supply CO2 emissions from its kiln. It is also aiming to establish formic acid as a direct fuel for fuel cells and for hydrogen storage. Original Source: Chemical and Engineering News, 7-14 Dec 2015, 93 (48), 30 (Website: http://cen.acs. org/index.html) © American Chemical Society 2015.
Nickel catalyst research moves into high gear
According to a MarketsandMarkets report, the global technical enzymes market is projected to reach $1.27 bn by 2021, at a CAGR of 3.4%.
In the search for cheaper, clean, renewable energy, North American researchers are working to develop new nickel catalysts that will make fuel cells more affordable. While rechargeable batteries, to date, have had the greatest commercial success, a team of researchers from the University of Delaware recently reported a breakthrough that promises to make fuel cells more affordable by replacing expensive platinum with catalysts made from nickel at a significantly lower cost. Peak power density of HEMFC is less than PEMFC, but the researchers synthesized Ni nanoparticles supported on nitrogen-doped carbon nanotubes, which display activities similar to Pt in HEMFC.
Original Source: MarketsandMarkets, Found on PR Newswire, 29 Apr 2016 (Website: http://www. prnewswire.com) © MarketsandMarkets, 2016.
Original Source: Nickel (Nickel Development Institute), Apr 2016, 31 (1), 15 (Website: http:// www.nickelinstitute.org) © Nickel Institute 2016.
Original Source: ICIS Chemical Business, 2-8 May 2016, 289 (16), 10-11 (Website: http://www.icis. com) © Reed Business Information Limited 2016.
Technical enzymes market worth $1.27 bn by 2021
Small acid, big hopes: a rosy outlook for formic acid attracts chemical companies Formic acid, the simplest carboxylic acid, has a relatively small market. In the US, there has been no formic acid plant until Nov 2015, when BASF begun producing the chemicals at its Geismar, LA complex. The demand for formic acid is growing because of its nontoxic and noncorrosive properties. Formic acid is finding use in applications as varied as oils wells and feed silos. The market for this chemical will increase to 5.6%/y through 2019. Due to the acid's potential, BASF and other chemical firms are entering into the business. BASF's new over 50,000-tonne/y formic acid facility in Geismar produces formic acid and methanol by combining carbon monoxide and methanol into methyl formate then treating the mixture with water. This unit, together BASF's plants in Ludwigshafen, Germany and Nanjing, China, have a combined capacity of 255,000 tonnes of
COMPANY NEWS New catalyst produces sulfur-free CO2 from Icelandic geothermal facility Icelandic geothermal power company HS Orka hf has signed a contract with Topsoe for a plant to transform excess CO2 into a commercial product. The plant is the first to use Topsoe's new selective oxidation catalyst SMC to remove sulfur from CO2, which is an attractive commercial opportunity for many geothermal power plants around the world. Geothermal heat sources around the world are utilized for green power production but can also deliver commercially attractive CO2. However, the valuable gas is typically polluted by sulfur that prevents its industrial use and
June 2016