March 2022

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Editorial Comment: As petrochemicals demand/capacity increases, sustainable targets grow in importance

Although most forecasts show global oil demand leveling off within the next decade, nearly all forecasts show a surge in petrochemicals consumption to 2050.

Nichols, Lee, Hydrocarbon Processing Staff

Although most forecasts show global oil demand leveling off within the next decade, nearly all forecasts show a surge in petrochemicals consumption to 2050. In fact, a significant portion of global oil demand increases over the near term is in response to needed feedstock to produce petrochemicals. For example, the International Energy Agency forecasts naphtha and LPG/ethane demand for petrochemicals production to increase by 1.2 MMbpd and 900,000 bpd, respectively, by 2027. The much-needed supplies of LPG/ethane and naphtha will provide feedstock to produce petrochemicals in great demand now and in the future. Capacity buildout The expected increase in petrochemicals demand has led to sig

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