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 Asia is set to become the world's leading producer and supplier of aromatic hydrocarbons by 2015. This shift is driven by strong and sustained growth in fuel demand across the region.
Asia’s gasoline consumption is expected to rise at a rate exceeding 2% annually. To meet this growing demand, more catalytic reformers will be built, which will not only boost gasoline production but also increase the output of reformate—a key component in high-octane fuels. Additionally, the expansion of naphtha crackers in the region will lead to a steady rise in pyrolysis gasoline production. Meanwhile, the supply of aromatics from North America and Western Europe is expected to decline further. In the U.S., gasoline demand is projected to grow slowly at just 1% per year, as high oil prices push consumers toward more fuel-efficient vehicles with smaller engines. The use of methyl tert-butyl ether (MTBE) is also playing a role in enhancing the value of reformate.
In Europe, gasoline demand is likely to continue its downward trend, declining by an average of 2% each year. This is due to the increasing popularity of diesel-powered vehicles. Moreover, with limited new ethylene cracking projects planned in both Europe and the U.S., the supply of aromatics from pyrolysis gasoline will remain constrained.
King also noted that by 2015, Asia will see a significant surplus of pure benzene, becoming the largest exporter of this chemical globally. This surplus is expected to have a major impact on global benzene pricing. Meanwhile, the Middle East will maintain its role as a key exporter of pure benzene, as it continues to invest in new benzene derivative projects, particularly in styrene production.
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