The Catalyst Review September 2024 - 2

An industry-focused, leading edge catalysis technology reference from The Catalyst Group Resources
The Catalyst Review
HOT TOPICS
The chemical industries are changing in many ways to address both overcapacity in many
commodities, as well as to adjust to the challenges of the energy transition. This includes closing
unprofitable older plants, developing lower carbon intensity (CI) new products and increasing
circularity by increasing recycling of raw materials. Leaders like BASF, Dow and LyondellBasell
have been at the forefront of these changes amongst others, and watching how they are
implementing their strategies are worthwhile roadmaps for others to follow. Examples to focus
on include (1) BASF's interest disposal in Wintershall and new biobased chemicals, (2) Dow's FID
on their new Canadian ethane cracker utilizing Linde blue hydrogen, and (3) Lyondell's strategic
reviews. This month, the Special Feature highlights the adsorbents market. The Innovation Corner
discusses the hydrogen challenge.
September Hot Topics!
Leading North America Activities:
● Marathon shareholders have approved Phillips takeover plan. This means the closing is likely
in the 4th QTR.
● Everyone awaits the Fed's reduction in interest rates before the election. However, recent
job reports suggest that this certainty could be fading, and the Fed doesn't have an October
meeting planned.
● Project FIDs are delayed pending the future of IRA commitments post-election, especially
noted in hydrogen and ammonia projects.
Smaller Considerations:
● California electricity users are still in an uproar amidst pending rate hikes to cover both fires
which mandate underground supply, as well as the growing need to expand the grid supply
due to electrification demand growth.
International:
● OPEC+ faces Aramco's decision to increase production even though supply has been
ample. This means defending market share and/or increasing volume to make up domestic
revenues.
● Middle East tensions continue affecting shipping and supply through the Suez Canal and
with transport rates increasing, there doesn't appear to be a short-term solution.
● Environmental pressures to reduce lithium mining evaporation ponds and nationalizations
are issues which will affect battery markets, as producers turn to hybrid adsorbent and
membranes recovery.
● Solar pricing globally has caused Chinese, EU and US component and panel producers into
a loss for the 1st half of 2024. While demand continues to grow, excess capacity along with
domestic panel production expansion in the EU, US and India in particular, has exacerbated
supply.
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2
The Catalyst Review
September 2024
THE CATALYST REVIEW
(ISSN 0898-3089)
September 2024, Volume 37, Issue 9
Published by The Catalyst Group
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The Catalyst Review September 2024

Table of Contents for the Digital Edition of The Catalyst Review September 2024