SABIC/bp sign agreement to drive a circular economy
Latest collaborations between bp and SABIC will see the two organisations work to increase the production of certified circular products. The process takes used mixed plastics to be used as feedstock to reduce the amount of fossil fuels needed at SABIC’s petrochemical production site in Gelsenkirchen (Germany).
“SABIC is committed to helping to create a new circular economy where plastic never becomes waste. Advanced recycling allows us to increase the production of more sustainable materials and use our planet’s resources wisely, whilst reducing the use of conventional approaches such as landfill and combustion. Advanced recycling has a crucial role to play in the current recycling mix as it can capture value from plastic waste streams that have traditionally been ignored or discarded. We continue to increase our collaborations with upstream suppliers and downstream customers, and this new initiative with our long-term partner bp takes us one step further to achieving our vision,” commented Fahad Al Swailem, Vice President, PE & Sales at SABIC.
Certified circular polymers
The use of certified circular polymers are a key part of SABIC’s Trucircle portfolio. The Saudi Arabian multinational chemical manufacturing company, produces certified circular polymers by using advanced recycling to convert low quality mixed and used plastic into pyrolysis oil.
As part of the partnership the oil will be processed by bp’s Gelsenkirchen refining site and used by SABIC in its Gelsenkirchen polymer plants to produce certified circular products.
Both bp’s certified base chemicals and SABIC’s certified circular polymers have been recognised by the International Sustainability and Carbon Certification plus (ISCC+) scheme which certifies content and standards across the value chain.
“This is an important milestone in our vision of achieving up to 30 percent of our ethylene and propylene production from sustainable, recyclable raw materials by 2030. It is a fantastic achievement on the part of the Gelsenkirchen team, after more than a year’s preparation, to set up the new initiative with our partners at SABIC. At the same time, it is what bp’s recently announced Net Zero strategy is all about,” added Wolfgang Stückle, Vice President Refining and Specialities Solutions Europe & Africa at bp.
Four Factory of the Future Market Trends to Keep an Eye on
Global Smart Manufacturing Market
Attributed to the rapid growth in the adoption of automated systems in industrial processes, the is predicted to grow from US$$175bn (2020) to US$303bn by 2026 with a compound annual growth rate (CAGR) of 6.4% between 2019 and 2026.
While COVID-19 has somewhat slowed down the market’s growth, it is expected that by the second to third quarter of 2023 there will be a ‘considerable’ rise in growth for the market.
Key players in the industry: Schneider Electric, General Electric, Siemens, Honeywell International Inc., Rockwell Automation Inc., FANUC Corporation, and Emerson Electric Co.
Industrial Automation Market
Making people’s lives easier, and their work more accurate and effective, the global demand for automated technologies such as robotics - especially in science and technology - is driving its increase in global market value.
Key players in the industry: ABB, Siemens, General Electric, Schneider, Endress+Hauser, Yokogawa, Honeywell, WIKA, Azbil, Fuji Electric, 3D Systems, and HP.
Smart Factory Market
Expected to grow from US$80.1bn (2021) to US$134.9bn by 2026, the - with a CAGR of 11% between 2021 and 2026 - is experiencing growth driven by fiscal policies adopted to keep manufacturing facilities afloat during COVID-19.
Other driving factors include resource optimisation, cost reduction in production operations, increased demand for industrial robotics, rising demand for technologies, and the growing significance of energy efficiency.
Key players in the industry: Emerson Electric Co., General Electric, Rockwell Automation, Inc., Schneider Electric SE, ABB Ltd., Siemens AG, Mitsubishi Electric Corp., Honeywell International Inc., Endress+Hauser AG, and Yokogawa Electric Corp.
Artificial Intelligence (AI) in Manufacturing Market
“It is undeniable that the manufacturing industry is at the forefront of artificial intelligence implementation,” says . “Manufacturers are using AI-powered analytics to increase performance, product quality, and employee protection, from substantial reductions in unplanned downtime to better crafted goods.”