Asia will become a major supplier of global aromatic hydrocarbons
John King, a vice president of chemistry at a renowned consulting firm, recently attended the Second Aromatic and Derivatives Market Conference in Shanghai. During his speech, he highlighted that by 2015, Asia is set to become the world’s leading producer and supplier of aromatic hydrocarbons. This shift is driven by strong and sustained demand for gasoline across the region, which is expected to grow at a rate exceeding 2% annually.
To meet this rising demand, Asian countries will invest heavily in building more catalytic reformers, which not only boost gasoline production but also generate more reformate products. Additionally, the expansion of new naphtha crackers in the region will further increase the output of pyrolysis gasoline. At the same time, the supply of aromatics from North America and Western Europe is expected to shrink. In the U.S., gasoline demand is projected to grow at a slower pace of around 1% per year, as high oil prices push consumers toward more fuel-efficient vehicles with smaller engines.
Moreover, the use of methyl tert-butyl ether (MTBE) is playing an indirect role in boosting reformate production. Meanwhile, European gasoline demand is anticipated to continue declining, with an average annual drop of 2%, largely due to the growing popularity of diesel-powered vehicles. The lack of new ethylene cracking projects in both Europe and the U.S. will also limit the availability of aromatics derived from pyrolysis gasoline.
Looking ahead, John King noted that by 2015, Asia will see a significant surplus of pure benzene, positioning itself as the world's largest exporter of this key chemical. This surplus is likely to have a major impact on global benzene pricing. Meanwhile, the Middle East will maintain its presence in the benzene export market, as it continues to invest in new benzene derivatives, particularly in the production of styrene.
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