[ Editorial ]
[ Editorial ]
Sustainable circularity
Volume 36 , June 2024
Stainless Steel World is the global magazine for corrosion resistant alloy users , suppliers and fabricators . www . stainless-steel-world . net
Director KCI Publishing B . V Elisa Hannan e . hannan @ kci-world . com Tel : + 31 575 585 291
Editor-in-Chief Joanne McIntyre j . mcintyre @ kci-world . com Tel : + 31 575 585294
Editorial Team ( print & online ) press . ssw @ kci-world . com Iryna Mukha i . mukha @ kci-world . com Gert Wijbrans g . wijbrans @ kci-world . com Shopia Ketheeswararajah s . ketheeswararajah @ kci-world . com Melonie Dodaro m . dodaro @ kci-world . com
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“ In business , as is the case in nature , circularity amplifies profit .” Hendrith Vanlon Smith Jr , 1989 . CEO of Mayflower-Plymouth Capital
Chemicals and petrochemicals are an integral part of all our lives . With a growing world population demanding more consumer goods , including everything from clothes to cars to food to shampoo to smartphones , the products we buy and consume are made possible – and affordable – by the enormous ( petro ) chem industry . According to Grand View Research , the petrochemicals market size was valued at USD 6.29 billion in 2023 and is expected to grow by a further 7.3 % by 2030 . End-use industries , such as construction , pharmaceuticals , and automotive , will be the major factors driving the growth . In his overview of the global industry , starting on page 14 , James Chater discusses some of the major factors .
Certainly , some of this growth will come from innovation as the industry shifts towards sustainability and takes measures to make more efficient use of resources . Our feature on page 27 considers how sustainability is becoming a driver for chemical plant construction . Rising demand for chemical products , which is driving growth in the industry , is butting up against the necessary transformation towards climate neutrality . This tension is creating both enormous challenges and huge opportunities . New built and refurbished plants are now designed to have vastly extended lifetimes , running on renewable energy while producing minimal amounts of greenhouse gases . Stainless steels play a key role for many reasons , not least because they are sustainably produced materials with a long lifecycle . The drive for sustainability in the chemical industry will , therefore , lead to the use of even more stainless steels than in the past . In turn , this will fuel demand for ‘ green ’ steel to reduce the scope 2 emissions of operators and the EPCs constructing new plants . It ’ s not a transformation that will happen overnight , but inevitably , demand for sustainability in the ( petro ) chemical sector will help to transform our industry too . This circulatory is being repeated across many other industries as well .
This month , we are delighted to welcome Alleima to the cover again . With a history dating back a remarkable 160 years , they continue their journey of innovation and development and are actively supporting the energy transition with advanced materials . Barinder Ghai , whom many of you know from his involvement with Stainless Steel World and Duplex World conferences , explained that Alleima has provided alloys to the refining and petrochemical industry for many years by enabling them to use long-lasting equipment while reducing costs . This tactic is now being applied to the energy transition industries , where stainless steel and other advanced materials offer sustainable , long-lasting solutions .
I hope you have many hours of reading pleasure from this month ’ s Stainless Steel World , and as always , your feedback is welcome .
Best wishes , Joanne McIntyre Editor-in-Chief of Stainless Steel World j . mcintyre @ kci-world . com
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