# 2009-12-24 # 工商時報 # 【彭暄貽／台北報導】
因應明年景氣復甦，台塑（1303）決定在HDPE、Carbon Fiber（碳纖）及POM等產品進行擴產計劃。尤其在碳纖事業上，已獲得全球最大風機廠葉片測試訂單，預定明、後年總計投資新台幣70億元，期望成為全球第4大碳纖生產廠商。
台塑表示，旗下HDPE、碳纖及POM廠去瓶頸工程可望相繼完工；其中，高強度碳纖維已獲得全球最大風機廠Vestas的葉片測試訂單，並與空中巴士洽商飛機用材料合作方案，今後碳纖維將轉向工業及航太使用，可提高單價及營收規模。
為此，台塑規劃分別投資30億、和40億元，在麥寮蓋2座新廠，明、後年採二階段投產碳纖維各1,300噸，亦即，後年總年產達8,750噸，坐穩全球第4大碳纖維廠。
今年全球景氣從谷底緩步復甦，不僅塑化報價步步走堅，台塑旗下AN、MMA、ECH、MTV等化學品，今年也因全球庫存偏低，帶動銷售明顯提振，價量齊揚，成為今年獲利復甦的最主要關鍵之一。
第4季化纖原料步步走揚，AN現貨報價每公噸達1,800美元，月漲幅9.22％，單季漲幅達19.6％。
除化學品收益走堅外，台塑大陸寧波投資的4座石化中間原料已全面進入投產，包括40萬公噸的PVC、23萬公噸的丙烯酸酯、45萬噸的聚丙烯及3萬噸的高吸水性樹酯廠；每年約可挹注480億元營收。
台塑指出，吸水樹脂廠（SAP）初期投資金額930萬美元，為紙尿布等產品的材枓，民眾生活水準提升到一定程度後，紙尿布需求會跟著成長，營運表現可望逐步走堅。
台塑麥寮正丁醇廠完工，供應中國寧波丙烯酸酯廠所需，並將全力搶進亞洲市場；預估年營收貢獻約80億元至100億元，毛利率約2成。
2009年12月27日
2009年12月23日
法人看好塑化 明年醞釀補漲
# 2009-12-21 # 工商時報 # 【彭暄貽╱台北報導】
今年塑化類股獲利豐收，明年大陸基礎建設、家電下鄉政策持續推動，加上大陸PVC電石法、美國老廠淘汰趨勢依舊，PVC、DOP、PE及SM相關族群受看好。
考量營運展望，並搭配年底集團作帳、股價淨值偏低等條件，台塑（1301）、台化（1326）、台聚（1304）、亞聚（1308）及聯成（1313）、國喬（1312）成為法人推薦的標的。
伊朗、沙烏地受制原料不足，新增產能遞延開工出，泰國更發生中間石化廠（約76個生產單位）新增產能因不符環保規定，遭全面停止，牽涉項目包括AN、PE、PVC等。塑化龍頭台塑看好明年石化景氣，營運2位數起跳，配合塑化股今年亮眼獲利及低股價淨值比條件，醞釀補漲行情。
塑化廠商表示，由於美國開發出新的天然氣來源，加上電力用量與工業生產回溫速度較慢，今年低廉的天然氣提振美國輕裂廠成本優勢；不過，明年天然氣與原油價差應將回到較正常比例，屆時美國40％的輕裂廠將回頭以輕油進料，台灣（東南亞）輕裂廠可望無須擔心低價競爭。
尤其，美國部分老廠持續退出市場，大陸、中東、沙烏地、泰國等新增產能進度屢傳遞延，有助紓緩產業供給壓力。
分析師認為，明年大陸、印度經濟成長動能延續。從產業供需條件來看，PVC、ABS、SM、PTA及牽動輪胎原料的丁二烯行情相對穩健；台塑、台化、國喬及聯成等，具大陸內需市場耕耘佈局者，受惠效益頗受期待。
在產業基本面走堅、ECFA簽署題材烘托的前提下，有利今年獲利亮眼，股價漲幅相對落後的塑化類股，醞釀年底集團作帳、類股輪動的揚升動能。
台塑集團明年台塑、台化及南亞均有新增產能啟動運作，台化、南亞因旗下大陸PTA、ABS及電子材料行情看俏，營運成長力道相對勝出，成為類股龍頭表態指標。至於專業廠則以台聚、國喬為追蹤焦點。
台聚集團今年嚴控庫存水位，善用搭配PE、ABS行情攀高良機，獲利聯袂突破新高。
亞聚今年EPS上看3元至3.5元，台聚約2.6元以上，華夏、台達化各約1.4元、2元表現；對照低股價淨值比及籌碼優勢，蓄量表現。
今年塑化類股獲利豐收，明年大陸基礎建設、家電下鄉政策持續推動，加上大陸PVC電石法、美國老廠淘汰趨勢依舊，PVC、DOP、PE及SM相關族群受看好。
考量營運展望，並搭配年底集團作帳、股價淨值偏低等條件，台塑（1301）、台化（1326）、台聚（1304）、亞聚（1308）及聯成（1313）、國喬（1312）成為法人推薦的標的。
伊朗、沙烏地受制原料不足，新增產能遞延開工出，泰國更發生中間石化廠（約76個生產單位）新增產能因不符環保規定，遭全面停止，牽涉項目包括AN、PE、PVC等。塑化龍頭台塑看好明年石化景氣，營運2位數起跳，配合塑化股今年亮眼獲利及低股價淨值比條件，醞釀補漲行情。
塑化廠商表示，由於美國開發出新的天然氣來源，加上電力用量與工業生產回溫速度較慢，今年低廉的天然氣提振美國輕裂廠成本優勢；不過，明年天然氣與原油價差應將回到較正常比例，屆時美國40％的輕裂廠將回頭以輕油進料，台灣（東南亞）輕裂廠可望無須擔心低價競爭。
尤其，美國部分老廠持續退出市場，大陸、中東、沙烏地、泰國等新增產能進度屢傳遞延，有助紓緩產業供給壓力。
分析師認為，明年大陸、印度經濟成長動能延續。從產業供需條件來看，PVC、ABS、SM、PTA及牽動輪胎原料的丁二烯行情相對穩健；台塑、台化、國喬及聯成等，具大陸內需市場耕耘佈局者，受惠效益頗受期待。
在產業基本面走堅、ECFA簽署題材烘托的前提下，有利今年獲利亮眼，股價漲幅相對落後的塑化類股，醞釀年底集團作帳、類股輪動的揚升動能。
台塑集團明年台塑、台化及南亞均有新增產能啟動運作，台化、南亞因旗下大陸PTA、ABS及電子材料行情看俏，營運成長力道相對勝出，成為類股龍頭表態指標。至於專業廠則以台聚、國喬為追蹤焦點。
台聚集團今年嚴控庫存水位，善用搭配PE、ABS行情攀高良機，獲利聯袂突破新高。
亞聚今年EPS上看3元至3.5元，台聚約2.6元以上，華夏、台達化各約1.4元、2元表現；對照低股價淨值比及籌碼優勢，蓄量表現。
2009年12月20日
Novomer, Kodak partner on bioplastics manufacturing
December 14, 2009 - by Emma Ritch, Cleantech Group
Copyright © 2009 Cleantech Group LLC. All rights reserved, including right of redistribution.
State of New York provides a grant to the joint project to commercialize the use of catalysts in the manufacturing of plastic packaging.
Boston, Mass.-based Novomer said today it received an $800,000 grant towards a $1.6 million project with Kodak and the Rochester Institute of Technology that seeks to promote the manufacturing of bio-based plastics.
The project aims to displace the need for petroleum-based plastics while consuming less energy in production, resulting in a product with higher performance, Novomer said. In addition, the first phase of the project showed the process can leverage existing manufacturing infrastructure.
Novomer said its proprietary catalyst technology can be used to manufacture polypropylene carbonate (PPC), which is used to make plastic packaging or coatings for applications including bottles and film.
Novomer says its process uses 50 percent less energy than traditional plastics manufacturing. In addition, Novomer's PPC offered a significantly improved oxygen barrier and a stiffer barrier compared to traditional PPC. The improvements allow packaged food to remain fresh longer, potentially reducing food waste (see Packaging: The most important part of what you buy?). Novomer's PPC is also lighter than traditional PPC, reducing transportation costs.
Novomer expects the grant to enable it to use the expertise and infrastructure of Kodak Specialty Chemicals and the Rochester Institute of Technology to go into manufacturing.
The grant from the New York State Energy Research and Development Authority follows a $150,000 award that funded a five-month feasibility study completed in May.
Novomer, a spinoff of Cornell University, makes a family of plastics, polymers and other chemicals from renewable feedstocks such as carbon dioxide and carbon monoxide (see Novomer releases biodegradable polymer).
Novomer plans to make money by licensing the technology and selling the catalysts. The company told the Cleantech Group in August that it was beginning customer trials, with partnerships expected to be announced before the end of 2009 (see Novomer's cleaner burning binder goes into customer trials).
In August, Novomer raised $14 million in Series B funding from OVP Venture Partners, Physic
Venture Partners, Flagship Ventures and DSM Venturing (see Novomer raises $14M for plastics from renewable feedstocks). The company previously raised $6.6 million in 2007 (see Solar and biofuel deals lead the day).
Copyright © 2009 Cleantech Group LLC. All rights reserved, including right of redistribution.
State of New York provides a grant to the joint project to commercialize the use of catalysts in the manufacturing of plastic packaging.
Boston, Mass.-based Novomer said today it received an $800,000 grant towards a $1.6 million project with Kodak and the Rochester Institute of Technology that seeks to promote the manufacturing of bio-based plastics.
The project aims to displace the need for petroleum-based plastics while consuming less energy in production, resulting in a product with higher performance, Novomer said. In addition, the first phase of the project showed the process can leverage existing manufacturing infrastructure.
Novomer said its proprietary catalyst technology can be used to manufacture polypropylene carbonate (PPC), which is used to make plastic packaging or coatings for applications including bottles and film.
Novomer says its process uses 50 percent less energy than traditional plastics manufacturing. In addition, Novomer's PPC offered a significantly improved oxygen barrier and a stiffer barrier compared to traditional PPC. The improvements allow packaged food to remain fresh longer, potentially reducing food waste (see Packaging: The most important part of what you buy?). Novomer's PPC is also lighter than traditional PPC, reducing transportation costs.
Novomer expects the grant to enable it to use the expertise and infrastructure of Kodak Specialty Chemicals and the Rochester Institute of Technology to go into manufacturing.
The grant from the New York State Energy Research and Development Authority follows a $150,000 award that funded a five-month feasibility study completed in May.
Novomer, a spinoff of Cornell University, makes a family of plastics, polymers and other chemicals from renewable feedstocks such as carbon dioxide and carbon monoxide (see Novomer releases biodegradable polymer).
Novomer plans to make money by licensing the technology and selling the catalysts. The company told the Cleantech Group in August that it was beginning customer trials, with partnerships expected to be announced before the end of 2009 (see Novomer's cleaner burning binder goes into customer trials).
In August, Novomer raised $14 million in Series B funding from OVP Venture Partners, Physic
Venture Partners, Flagship Ventures and DSM Venturing (see Novomer raises $14M for plastics from renewable feedstocks). The company previously raised $6.6 million in 2007 (see Solar and biofuel deals lead the day).
2009年12月15日
力鵬揮強棒 今年EPS攻1.5元
2009-12-07 * 工商時報 * 【龔俊榮／台北報導】
力鵬（1447）力麗（1444）集團今年可望寫下近年來最佳的獲利紀錄，法人估算力鵬全年獲利有機會挑戰EPS1.5元目標。明年兩岸一旦簽 ECFA協議，將使得ECFA加持效應更加顯著，尤其是力鵬外銷大陸尼龍粒將大大受惠，配合明年第1季去瓶頸計畫，產能由每日800噸增至1,100噸，有助力鵬明年獲利更上一層樓。
力鵬今年前3季EPS已達1.31元，在紡纖類股表現名列前茅，時序邁入第4季，10月因大陸有十一長假，在買氣一度停頓下，尼龍粒外銷大陸的需求稍減，使得出貨量降至1.2萬噸，不過11月起，又恢復到2萬噸以上的水準，估計12月也可望維持產能全開的盛況。
雖然力鵬11月營收還未出爐，法人估計，應有16億元的實力，加上12月，今年全年營收至少在170億元以上，與去年營收204億元相比，是有一段差距，惟在獲利表現，卻不可同日而語，去年是虧損，今年卻是獲利三級跳。
力鵬生產的尼龍粒專攻大陸，約占出貨量的70至80％，今年10月大陸宣判進口的尼龍粒有傾銷事實，從10月20日開始加徵反傾銷稅，力鵬被課以4.3％，是最低的一家，雖然稍為增加成本，卻比歐美其也國家相對偏低，無損於出口至大陸的競爭力。
雖然短期內看不出大陸進口尼龍粒有轉單至台灣的效應，不過，明年兩岸有機會簽訂ECFA協議，整個ECFA的效應將會逐步發酵，在兩岸取消關稅後，更增添力鵬出口至大陸的競爭力，尤其是，明年第1季力鵬已斥資5,000萬元，進行去瓶頸的工程，使得日產能從800噸增加至1,100噸，將有助於提高在大陸的市占率。
法人預估，今年力鵬全年EPS可望衝上1.5元，明年在ECFA效應的加持下，獲利有機會更上一層樓，再創力鵬獲利的新一頁。
力鵬（1447）力麗（1444）集團今年可望寫下近年來最佳的獲利紀錄，法人估算力鵬全年獲利有機會挑戰EPS1.5元目標。明年兩岸一旦簽 ECFA協議，將使得ECFA加持效應更加顯著，尤其是力鵬外銷大陸尼龍粒將大大受惠，配合明年第1季去瓶頸計畫，產能由每日800噸增至1,100噸，有助力鵬明年獲利更上一層樓。
力鵬今年前3季EPS已達1.31元，在紡纖類股表現名列前茅，時序邁入第4季，10月因大陸有十一長假，在買氣一度停頓下，尼龍粒外銷大陸的需求稍減，使得出貨量降至1.2萬噸，不過11月起，又恢復到2萬噸以上的水準，估計12月也可望維持產能全開的盛況。
雖然力鵬11月營收還未出爐，法人估計，應有16億元的實力，加上12月，今年全年營收至少在170億元以上，與去年營收204億元相比，是有一段差距，惟在獲利表現，卻不可同日而語，去年是虧損，今年卻是獲利三級跳。
力鵬生產的尼龍粒專攻大陸，約占出貨量的70至80％，今年10月大陸宣判進口的尼龍粒有傾銷事實，從10月20日開始加徵反傾銷稅，力鵬被課以4.3％，是最低的一家，雖然稍為增加成本，卻比歐美其也國家相對偏低，無損於出口至大陸的競爭力。
雖然短期內看不出大陸進口尼龍粒有轉單至台灣的效應，不過，明年兩岸有機會簽訂ECFA協議，整個ECFA的效應將會逐步發酵，在兩岸取消關稅後，更增添力鵬出口至大陸的競爭力，尤其是，明年第1季力鵬已斥資5,000萬元，進行去瓶頸的工程，使得日產能從800噸增加至1,100噸，將有助於提高在大陸的市占率。
法人預估，今年力鵬全年EPS可望衝上1.5元，明年在ECFA效應的加持下，獲利有機會更上一層樓，再創力鵬獲利的新一頁。
法人：大陸需求旺 尼龍粒大廠力鵬集盛吃補
【中央網路報】 張達智/整理
中國大陸需求旺盛，原料持續上漲下，紡織尼龍粒大廠力鵬 (1447)、集盛 (1455) 11月營收相當亮麗。法人表示，今、明年力鵬獲利將創歷史新高，估今年EPS 1.66元，明年2.06元。
中央社11日電，在業績升溫、尼龍原料己內醯胺 (CPL)持續上漲下，力鵬11月尼龍粒出貨暢旺，單月尼龍粒及紗出貨量達2.06萬噸，11月營收新台幣18.05億元，月增46%，年增更達205%。
集盛11月營收13.43億元，月增14%，年增86%。
法人認為，今、明年力鵬獲利將創歷史新高，主要是中國大陸目前尼龍粒產能遠不足供應自身需求，而台灣尼龍粒廠商被課反傾銷稅率遠低於其他歐美廠商，未來中國抽絲廠勢必轉向台灣廠商尋求尼龍粒。
法人指出，力鵬為台灣唯一進行去瓶頸計畫的廠商，明年首季產能將由每天800公噸提高為1100公噸，增幅高達37.5%，可望逆勢吃下歐美廠商原本在中國的市占率；未來ECFA簽署之後，6.5%的關稅再取消，台廠更添競爭力，力鵬為國內尼龍粒廠商的首選。
法人預估，力鵬今年EPS 1.66元，創歷史新高，明年將高度成長，EPS上看2.06元。
中國大陸需求旺盛，原料持續上漲下，紡織尼龍粒大廠力鵬 (1447)、集盛 (1455) 11月營收相當亮麗。法人表示，今、明年力鵬獲利將創歷史新高，估今年EPS 1.66元，明年2.06元。
中央社11日電，在業績升溫、尼龍原料己內醯胺 (CPL)持續上漲下，力鵬11月尼龍粒出貨暢旺，單月尼龍粒及紗出貨量達2.06萬噸，11月營收新台幣18.05億元，月增46%，年增更達205%。
集盛11月營收13.43億元，月增14%，年增86%。
法人認為，今、明年力鵬獲利將創歷史新高，主要是中國大陸目前尼龍粒產能遠不足供應自身需求，而台灣尼龍粒廠商被課反傾銷稅率遠低於其他歐美廠商，未來中國抽絲廠勢必轉向台灣廠商尋求尼龍粒。
法人指出，力鵬為台灣唯一進行去瓶頸計畫的廠商，明年首季產能將由每天800公噸提高為1100公噸，增幅高達37.5%，可望逆勢吃下歐美廠商原本在中國的市占率；未來ECFA簽署之後，6.5%的關稅再取消，台廠更添競爭力，力鵬為國內尼龍粒廠商的首選。
法人預估，力鵬今年EPS 1.66元，創歷史新高，明年將高度成長，EPS上看2.06元。
A growing future for bioproducts from sugar
http://cleantech.com/news
December 7, 2009 - by Lisa Sibley, Cleantech Group
U.S.-based Genomatica and Brazil’s Braskem are looking at the international opportunities for sustainable chemicals and bioplastics from sugar.
There’s a major opportunity to convert sugar into a whole host of products, such as “green” chemicals, renewable polymers for bioplastics production, and other so called bioproducts, says San Diego-based Genomatica CEO Christophe Schilling.
And they could prove to offer new revenue streams in the process, according to a recent report titled “Market Potential of Sugarcane and Beet Bio-products,” from the London-based International Sugar Organization (ISO).
Schilling told the Cleantech Group it’s not just something being looked at by ISO. He recently participated in a U.S. Department of Energy workshop on the topic, where various stakeholders were looking for related opportunities.
“The ISO report represents a growing international exposure to the opportunity,” he said. "Fuel companies are seeing more near-term opportunities are going to be in chemicals.”
Schilling said that based on a study his company conducted with ICIS, the chemical and energy market intelligence firm, the majority of customers are interested in having access to renewable or sustainable chemicals, but they don’t want to pay more for them.
“It represents a tremendous opportunity for companies like ours to deliver process technology at the same cost or below what it is currently being made at,” he said. “If you can do that you have a terrific win-win, in that you can not only provide a lower cost solution, but you can provide a renewable solution.”
His sustainable chemical company has already been “laser focused” on such chemicals for a number of years, he said. The company uses biotechnology to convert feedstock into existing intermediate renewable chemicals (see Genomatica develops second biochemical from microbes).
“Sugar represents a terrific feedstock from those you can choose from because it’s a large globally traded commodity,” he said. “It’s grown in many regions of the world, so you have many options to source it.”
While he said the ISO report seems to be aimed at sugar producers, it highlights Genomatica’s process as a promising intermediate chemical.
In June, the company announced validation of its ability to make commercial grade 1,4 butaneditol (BDO) from renewable feedstock. BDO is used in plastics, solvents, pharmaceuticals, automotive components and textiles.
The company said it can process BDO produced from sugar to greater than 99 percent purity in a cost-effective recovery process. Genomatica first announced its abilities to make the key plastic component without petrochemicals in 2008 (see Genomatica develops novel bioplastic).
Another company featured in the report is São Paulo-based Braskem, which is investing in bioplastics production capacity in Brazil where sugarcane ethanol is expected to be the feedstock (see Braskem claims first green polyethylene).
In 2007, the company said it produced the first green certified polyethylene in the world, based on ethanol made locally from sugarcane.
The report points out that since Brazil makes the world’s lowest cost ethanol, it’s possible to produce ethanol and then convert the ethylene into polyethylene.
However a collaboration between Dow Chemical (NYSE:DOW) and Crystalsev, one of Brazil’s largest ethanol companies, to produce bio-polyethylene isn’t moving forward because of the breakup of Crystalsev (see Dow and Crystalsev to make bioplastic in Brazil).
The companies were expected to build the world's biggest polyethylene from sugarcane plant in Brazil, but now Dow appears to be seeking another partner for the project.
For Genomatica, Schilling said his company is still on track to start selling licenses and have a pilot plant in 2010. The plant hasn’t broken ground yet, but is expected to begin operating in the first half of next year.
He wouldn’t disclose the plant's cost, but said Genomatica has the financial means to move forward with it, without being dependent on partnerships or government funding.
Even once the plant is up and running, the company plans to continue to refine its commercial product.
“We are essentially trying to optimize the microorganisms used to produce the BDO, so it can make more BDO faster,” he said.
The report also says Genomatica is pursuing other chemicals from sugar. Without disclosing which ones, the company has said it is targeting a broad range of other intermediate chemicals from sugar including molecules important to making nylons, acrylates, and other large volume chemicals.
Schilling said Genomatica is focused on producing chemicals with large existing markets of more than $1 billion, as opposed to producing molecules with small markets such as succinic acid.
Copyright © 2009 Cleantech Group LLC. All rights reserved, including right of redistribution.
-------------------------------------------------
Genomatica用微生物來生產1,4-丁二醇(BDO)
2009-07-20 10:20
鑒於新技術的開發和可持續發展的推動，綠色化學品正在升溫。
截至2009年5月初，已開發出生物製造途徑來生產廣泛應用的溶劑甲乙酮(MEK)，一些公司已擁有潛力可在他們生產的產品中替代石油衍生的產品。
例如，美國加利福尼亞州的Genomatica公司已突破用微生物來生產1,4-丁二醇(BDO)。
已有二個途徑可使用植物糖類作為原材料並生產化學品，這可成為石油基路線的替代。這種可持續發展的化學是不斷發展中的領域，一些公司已迫切感到需要提高其可持續發展水準，並加快從石油基材料氛圍走到可再生的原料道路之上。使用“可持續發展的化學品”，也有潛力可減少能源使用量和減少碳排放，並應對未來石油供應的短缺和較高油價的困擾。
美國Genomatica公司指出，目前許多公司關注焦點的第一浪潮是如何提高其自身的可持續性發展，主要關注能源的使用和公司的碳足跡;第二浪潮是檢驗其所生產的產品，並開始尋求如何能通過更可持續發展的方式從可再生原料來生產這些材料。
這第二個領域已成為許多技術開發公司的責任，他們正在致力於開發簡單而有效的技術尋求可再生原料替代方案。
有某些實例表明，一些公司已開發了新的可持續性發展的產品和生產實踐，已有一些技術和產品推向了市場，如美國從事農業業務的嘉吉(Cargill)公司和日本帝人公司的合資企業NatureWorks公司推出的Ingeo聚乳酸(PLA)聚合物，以及美國的生物科學公司Metabolix與組分、飼料和生物燃料公司ADM(Archer Daniels Midland)已生產出生物基Mirel聚合物。這些都是一些新的生物可降解聚合物。
Genomatica公司有志於通過生物途徑生產化學品，這些化學品可直按作為石油衍生產品的替代，如其開發的BDO和MEK。美國杜邦公司和英國食品集團Tate & Lyle公司的生物基丙二醇是生物途徑的又一實例。巴西石化集團Braskem公司則開發了生物基聚乙烯(PE)。
開發新產品以及開發經化學認證的替代方案是二種不同的途徑，但這兩者都具有可持續發展的潛力。對後者而言，低成本是最重要的，可以相信，通過新途徑生產這些產品會有25%的成本優勢。
Genomatica公司使用專有的集成技術平臺，採用稱之為SimPheny先進的電腦模擬技術，來指導基因變異微生物的設計，從而可生產出特定的終端產品。一旦微生物被鑒定和工程化，該公司就利用這一技術以提高產率和生產效率，並將過程工程放大到商業化規模。
Genomatica公司已將生產BDO的生物基技術轉讓給了一些化學品生產商。
December 7, 2009 - by Lisa Sibley, Cleantech Group
U.S.-based Genomatica and Brazil’s Braskem are looking at the international opportunities for sustainable chemicals and bioplastics from sugar.
There’s a major opportunity to convert sugar into a whole host of products, such as “green” chemicals, renewable polymers for bioplastics production, and other so called bioproducts, says San Diego-based Genomatica CEO Christophe Schilling.
And they could prove to offer new revenue streams in the process, according to a recent report titled “Market Potential of Sugarcane and Beet Bio-products,” from the London-based International Sugar Organization (ISO).
Schilling told the Cleantech Group it’s not just something being looked at by ISO. He recently participated in a U.S. Department of Energy workshop on the topic, where various stakeholders were looking for related opportunities.
“The ISO report represents a growing international exposure to the opportunity,” he said. "Fuel companies are seeing more near-term opportunities are going to be in chemicals.”
Schilling said that based on a study his company conducted with ICIS, the chemical and energy market intelligence firm, the majority of customers are interested in having access to renewable or sustainable chemicals, but they don’t want to pay more for them.
“It represents a tremendous opportunity for companies like ours to deliver process technology at the same cost or below what it is currently being made at,” he said. “If you can do that you have a terrific win-win, in that you can not only provide a lower cost solution, but you can provide a renewable solution.”
His sustainable chemical company has already been “laser focused” on such chemicals for a number of years, he said. The company uses biotechnology to convert feedstock into existing intermediate renewable chemicals (see Genomatica develops second biochemical from microbes).
“Sugar represents a terrific feedstock from those you can choose from because it’s a large globally traded commodity,” he said. “It’s grown in many regions of the world, so you have many options to source it.”
While he said the ISO report seems to be aimed at sugar producers, it highlights Genomatica’s process as a promising intermediate chemical.
In June, the company announced validation of its ability to make commercial grade 1,4 butaneditol (BDO) from renewable feedstock. BDO is used in plastics, solvents, pharmaceuticals, automotive components and textiles.
The company said it can process BDO produced from sugar to greater than 99 percent purity in a cost-effective recovery process. Genomatica first announced its abilities to make the key plastic component without petrochemicals in 2008 (see Genomatica develops novel bioplastic).
Another company featured in the report is São Paulo-based Braskem, which is investing in bioplastics production capacity in Brazil where sugarcane ethanol is expected to be the feedstock (see Braskem claims first green polyethylene).
In 2007, the company said it produced the first green certified polyethylene in the world, based on ethanol made locally from sugarcane.
The report points out that since Brazil makes the world’s lowest cost ethanol, it’s possible to produce ethanol and then convert the ethylene into polyethylene.
However a collaboration between Dow Chemical (NYSE:DOW) and Crystalsev, one of Brazil’s largest ethanol companies, to produce bio-polyethylene isn’t moving forward because of the breakup of Crystalsev (see Dow and Crystalsev to make bioplastic in Brazil).
The companies were expected to build the world's biggest polyethylene from sugarcane plant in Brazil, but now Dow appears to be seeking another partner for the project.
For Genomatica, Schilling said his company is still on track to start selling licenses and have a pilot plant in 2010. The plant hasn’t broken ground yet, but is expected to begin operating in the first half of next year.
He wouldn’t disclose the plant's cost, but said Genomatica has the financial means to move forward with it, without being dependent on partnerships or government funding.
Even once the plant is up and running, the company plans to continue to refine its commercial product.
“We are essentially trying to optimize the microorganisms used to produce the BDO, so it can make more BDO faster,” he said.
The report also says Genomatica is pursuing other chemicals from sugar. Without disclosing which ones, the company has said it is targeting a broad range of other intermediate chemicals from sugar including molecules important to making nylons, acrylates, and other large volume chemicals.
Schilling said Genomatica is focused on producing chemicals with large existing markets of more than $1 billion, as opposed to producing molecules with small markets such as succinic acid.
Copyright © 2009 Cleantech Group LLC. All rights reserved, including right of redistribution.
-------------------------------------------------
Genomatica用微生物來生產1,4-丁二醇(BDO)
2009-07-20 10:20
鑒於新技術的開發和可持續發展的推動，綠色化學品正在升溫。
截至2009年5月初，已開發出生物製造途徑來生產廣泛應用的溶劑甲乙酮(MEK)，一些公司已擁有潛力可在他們生產的產品中替代石油衍生的產品。
例如，美國加利福尼亞州的Genomatica公司已突破用微生物來生產1,4-丁二醇(BDO)。
已有二個途徑可使用植物糖類作為原材料並生產化學品，這可成為石油基路線的替代。這種可持續發展的化學是不斷發展中的領域，一些公司已迫切感到需要提高其可持續發展水準，並加快從石油基材料氛圍走到可再生的原料道路之上。使用“可持續發展的化學品”，也有潛力可減少能源使用量和減少碳排放，並應對未來石油供應的短缺和較高油價的困擾。
美國Genomatica公司指出，目前許多公司關注焦點的第一浪潮是如何提高其自身的可持續性發展，主要關注能源的使用和公司的碳足跡;第二浪潮是檢驗其所生產的產品，並開始尋求如何能通過更可持續發展的方式從可再生原料來生產這些材料。
這第二個領域已成為許多技術開發公司的責任，他們正在致力於開發簡單而有效的技術尋求可再生原料替代方案。
有某些實例表明，一些公司已開發了新的可持續性發展的產品和生產實踐，已有一些技術和產品推向了市場，如美國從事農業業務的嘉吉(Cargill)公司和日本帝人公司的合資企業NatureWorks公司推出的Ingeo聚乳酸(PLA)聚合物，以及美國的生物科學公司Metabolix與組分、飼料和生物燃料公司ADM(Archer Daniels Midland)已生產出生物基Mirel聚合物。這些都是一些新的生物可降解聚合物。
Genomatica公司有志於通過生物途徑生產化學品，這些化學品可直按作為石油衍生產品的替代，如其開發的BDO和MEK。美國杜邦公司和英國食品集團Tate & Lyle公司的生物基丙二醇是生物途徑的又一實例。巴西石化集團Braskem公司則開發了生物基聚乙烯(PE)。
開發新產品以及開發經化學認證的替代方案是二種不同的途徑，但這兩者都具有可持續發展的潛力。對後者而言，低成本是最重要的，可以相信，通過新途徑生產這些產品會有25%的成本優勢。
Genomatica公司使用專有的集成技術平臺，採用稱之為SimPheny先進的電腦模擬技術，來指導基因變異微生物的設計，從而可生產出特定的終端產品。一旦微生物被鑒定和工程化，該公司就利用這一技術以提高產率和生產效率，並將過程工程放大到商業化規模。
Genomatica公司已將生產BDO的生物基技術轉讓給了一些化學品生產商。
丹化科技(600844):煤制乙二醇量產尚無定期
丹化科技(600844):煤制乙二醇量產尚無定期
由於煤制乙二醇較石油制乙二醇有較大成本優勢，丹化科技(600844)首期20萬噸乙二醇項目整套裝置及工藝流程的成功打通引來市場關注。在丹化科技目前主營業務醋酸微虧，而煤制乙二醇項目似乎有不錯盈利前景的情況下，首期項目何日全面投產成為了關注焦點。
「全面投產的具體日期尚未確定。」丹化科技董秘辦人士向記者介紹，由於煤制乙二醇原料褐煤的揮發性較強，不適宜長途運輸，故公司項目選址於內蒙褐煤產區。但冬季該地區氣候嚴寒，預計項目進度會受些影響。項目全面投產尚無確切日期。
據中國化工在線信息，目前原油制乙二醇價格為7000多元/噸，但近兩年該產品價格波動較大。2008年8月石油制乙二醇曾達到8000元/噸，隨後受經濟危機的影響，今年6月曾降到4500元/噸左右。若該項目投產時不能適逢價格較高點，盈利能力或許不如預期。
不過，上述董秘辦人士卻對項目的成本優勢很有信心。「預計全面投產後每噸成本在3000元左右，較石油制乙二醇成本優勢還是很明顯，而且，在相當一段時期國內市場的乙二醇都會是供不應求的局面。」
資料顯示，目前國內乙二醇市場存在500萬噸的缺口，70%的產品依賴進口。但是，據專門從事煤基能源化工研究的亞化咨詢預計，2010年乙二醇世界總消費量將達到2188萬噸，而總產能將達到2709.3萬噸，全球產能過剩已成定局。屆時產量最大的中東廠商很可能向中國傾銷乙二醇。
國內廠商以石油為原料生產乙二醇成本較高，但並不適用於地處石油資源豐富地區的中東廠商。沙特基礎工業公司(SABIC)是沙特的國有企業，生產乙二醇原料為石化產品乙烷。中國石油和化學工業規劃院工程師龔俊華曾在接受採訪時透露，作為石油加工的副產品，沙特政府免費向該公司提供乙烷，成本極低，產品運到中國依然很有競爭力。
「目前我們煤制乙二醇的成本和中東也在伯仲之間，況且，該項目還有政策層面的扶持，而我們的戰略合作方在煤化工領域的實力較為雄厚，雙方合作會有較強的互補性和抗風險能力。」談及中東廠商豐厚資源背景下的成本優勢，丹化科技董秘辦人士表示並不擔心，他補充道：「何時全面投產現在不能確定，但我們認為國內乙二醇市場將在未來數年內保持景氣，幾期項目達產後120萬噸的總產能市場應該能夠消化。」
由於煤制乙二醇較石油制乙二醇有較大成本優勢，丹化科技(600844)首期20萬噸乙二醇項目整套裝置及工藝流程的成功打通引來市場關注。在丹化科技目前主營業務醋酸微虧，而煤制乙二醇項目似乎有不錯盈利前景的情況下，首期項目何日全面投產成為了關注焦點。
「全面投產的具體日期尚未確定。」丹化科技董秘辦人士向記者介紹，由於煤制乙二醇原料褐煤的揮發性較強，不適宜長途運輸，故公司項目選址於內蒙褐煤產區。但冬季該地區氣候嚴寒，預計項目進度會受些影響。項目全面投產尚無確切日期。
據中國化工在線信息，目前原油制乙二醇價格為7000多元/噸，但近兩年該產品價格波動較大。2008年8月石油制乙二醇曾達到8000元/噸，隨後受經濟危機的影響，今年6月曾降到4500元/噸左右。若該項目投產時不能適逢價格較高點，盈利能力或許不如預期。
不過，上述董秘辦人士卻對項目的成本優勢很有信心。「預計全面投產後每噸成本在3000元左右，較石油制乙二醇成本優勢還是很明顯，而且，在相當一段時期國內市場的乙二醇都會是供不應求的局面。」
資料顯示，目前國內乙二醇市場存在500萬噸的缺口，70%的產品依賴進口。但是，據專門從事煤基能源化工研究的亞化咨詢預計，2010年乙二醇世界總消費量將達到2188萬噸，而總產能將達到2709.3萬噸，全球產能過剩已成定局。屆時產量最大的中東廠商很可能向中國傾銷乙二醇。
國內廠商以石油為原料生產乙二醇成本較高，但並不適用於地處石油資源豐富地區的中東廠商。沙特基礎工業公司(SABIC)是沙特的國有企業，生產乙二醇原料為石化產品乙烷。中國石油和化學工業規劃院工程師龔俊華曾在接受採訪時透露，作為石油加工的副產品，沙特政府免費向該公司提供乙烷，成本極低，產品運到中國依然很有競爭力。
「目前我們煤制乙二醇的成本和中東也在伯仲之間，況且，該項目還有政策層面的扶持，而我們的戰略合作方在煤化工領域的實力較為雄厚，雙方合作會有較強的互補性和抗風險能力。」談及中東廠商豐厚資源背景下的成本優勢，丹化科技董秘辦人士表示並不擔心，他補充道：「何時全面投產現在不能確定，但我們認為國內乙二醇市場將在未來數年內保持景氣，幾期項目達產後120萬噸的總產能市場應該能夠消化。」
2009年12月9日
塑化廠Q4獲利普遍縮水
2009-12-03
工商時報 【彭暄貽／台北報導】
近期石化原料乙烯、丙烯大幅彈升，帶動五大泛用樹脂現貨跟進調漲，12月內銷報價也向上調漲，廠商第4季獲利表現頗受關注。據悉，受制第4季為銷售淡季，加上原料漲幅超越產品報價，除PE因短線供需緊俏，表現相對走堅外，PVC、PP、ABS、PS及SM等，利差均面臨明顯壓縮。
分析師指出，第4季包括台塑化、亞聚等廠商均有歲修計畫，考量原料漲幅與轉投資收益貢獻下滑因素，塑化廠單季獲利約季減10％至30％；其中，華夏、國喬、台苯等廠商單季營運約處兩平狀態。
塑化類股昨（2）日因台塑等國內塑膠原料廠調漲12月產品內銷報價，台聚、亞聚集團因近期PE行情領先走堅，加上前三季獲利，年度獲利可望突破新高，吸引買盤積極進駐。
分析師指出，目前塑化報價以PE正處大陸農業用膜旺季需求因素，加上部分石化事故，引發供需緊俏聯想，行情表現最受期待。此外，當前SM、PS及ABS報價上漲力道疲弱，後續家電下鄉需求表現將為追蹤焦點。
塑化廠商表示，近期上游乙烯廠因歲修、停爐等因素，在市場供應吃緊下，推升價格向上，漲幅高達30％，適時舒緩第4季營收因價量趨緩的下滑壓力，推估單季營收約季減10％至20％，優於過往20％至30％下滑表現。
不過，受制需求趨緩，產品無法全面轉嫁成本，第4季本業獲利顯著下滑，加上業外轉投資收益回復正常，單季獲利比第三季拉回。華夏因第4季 PVC漲幅相對落後；從獲利價差條件來看，本業約季減20％，加上轉投資台氯第4季營運收益貢獻縮減，全年EPS約1.4元至1.5元。
工商時報 【彭暄貽／台北報導】
近期石化原料乙烯、丙烯大幅彈升，帶動五大泛用樹脂現貨跟進調漲，12月內銷報價也向上調漲，廠商第4季獲利表現頗受關注。據悉，受制第4季為銷售淡季，加上原料漲幅超越產品報價，除PE因短線供需緊俏，表現相對走堅外，PVC、PP、ABS、PS及SM等，利差均面臨明顯壓縮。
分析師指出，第4季包括台塑化、亞聚等廠商均有歲修計畫，考量原料漲幅與轉投資收益貢獻下滑因素，塑化廠單季獲利約季減10％至30％；其中，華夏、國喬、台苯等廠商單季營運約處兩平狀態。
塑化類股昨（2）日因台塑等國內塑膠原料廠調漲12月產品內銷報價，台聚、亞聚集團因近期PE行情領先走堅，加上前三季獲利，年度獲利可望突破新高，吸引買盤積極進駐。
分析師指出，目前塑化報價以PE正處大陸農業用膜旺季需求因素，加上部分石化事故，引發供需緊俏聯想，行情表現最受期待。此外，當前SM、PS及ABS報價上漲力道疲弱，後續家電下鄉需求表現將為追蹤焦點。
塑化廠商表示，近期上游乙烯廠因歲修、停爐等因素，在市場供應吃緊下，推升價格向上，漲幅高達30％，適時舒緩第4季營收因價量趨緩的下滑壓力，推估單季營收約季減10％至20％，優於過往20％至30％下滑表現。
不過，受制需求趨緩，產品無法全面轉嫁成本，第4季本業獲利顯著下滑，加上業外轉投資收益回復正常，單季獲利比第三季拉回。華夏因第4季 PVC漲幅相對落後；從獲利價差條件來看，本業約季減20％，加上轉投資台氯第4季營運收益貢獻縮減，全年EPS約1.4元至1.5元。
台橡台化國喬 獲利旺
經濟日報╱記者邱展光／台北報導】
2009.12.03 03:37 am
丁二烯行情下跌，台橡（2103）、台化（1326）、國喬（1310）、台達化（1309）等業者原料成本下滑，獲利空間加大；明年天津石化年產20萬公噸新廠投產後，市場會更供過於求，相關業者用料成本再減，更擴大獲利空間。
法人強調，丁二烯行情重挫，聚丁二烯橡膠（BR）與苯乙烯-丁二烯共聚橡膠（SBR）原料成本大減，台橡、奇美受惠最大；次之是苯乙烯-丁二烯-苯乙烯共聚合物（ABS）產品，廠商有台化、奇美、國喬、台達化。
丁二烯衍生物廠商指出，每公噸BR必須使用0.94至1.1的丁二烯，依目前的售價，丁二烯行情大幅下滑後，獲利空間增加最大；生產每公噸SBR要使用0.73至0.77的丁二烯，原料價格下跌後，獲利增色不少。
在ABS產品方面，丁二烯使用量0.19，原料行情下挫，對獲利也不無小補。
法人估，台化、國喬及台達化三家ABS生產廠商，以丙烯、丁二烯及苯乙烯單體（SM）生產ABS，依目前ABS每公噸約1,460美元行情計算，每公噸銷售毛利約230美元；台化則挾其垂直整合優勢，每公噸銷售毛利將高達280美元以上。
中油石化事業部主管表示，石油腦站上每公噸700美元，乙烯丁、丙烯價格大漲，但丁二烯走勢卻下挫至每公噸1,330美元，是近三個月低價水位，主要原因是新廠陸續開出，引發市場供過於求的預期。
2009.12.03 03:37 am
丁二烯行情下跌，台橡（2103）、台化（1326）、國喬（1310）、台達化（1309）等業者原料成本下滑，獲利空間加大；明年天津石化年產20萬公噸新廠投產後，市場會更供過於求，相關業者用料成本再減，更擴大獲利空間。
法人強調，丁二烯行情重挫，聚丁二烯橡膠（BR）與苯乙烯-丁二烯共聚橡膠（SBR）原料成本大減，台橡、奇美受惠最大；次之是苯乙烯-丁二烯-苯乙烯共聚合物（ABS）產品，廠商有台化、奇美、國喬、台達化。
丁二烯衍生物廠商指出，每公噸BR必須使用0.94至1.1的丁二烯，依目前的售價，丁二烯行情大幅下滑後，獲利空間增加最大；生產每公噸SBR要使用0.73至0.77的丁二烯，原料價格下跌後，獲利增色不少。
在ABS產品方面，丁二烯使用量0.19，原料行情下挫，對獲利也不無小補。
法人估，台化、國喬及台達化三家ABS生產廠商，以丙烯、丁二烯及苯乙烯單體（SM）生產ABS，依目前ABS每公噸約1,460美元行情計算，每公噸銷售毛利約230美元；台化則挾其垂直整合優勢，每公噸銷售毛利將高達280美元以上。
中油石化事業部主管表示，石油腦站上每公噸700美元，乙烯丁、丙烯價格大漲，但丁二烯走勢卻下挫至每公噸1,330美元，是近三個月低價水位，主要原因是新廠陸續開出，引發市場供過於求的預期。
2009年12月6日
World Bioplastic Demand to Reach 900,000 Metric Tons
Cleveland 12/03/2009 09:29 下午 GMT (TransWorldNews)
Global demand for bioplastics, plastic resins that are biodegradable or derived from plant-based sources, will rise more than fourfold to 900,000 metric tons in 2013, valued at $2.6 billion. Growth will be fueled by a number of factors, including consumer demand for more environmentally-sustainable products, the development of bio-based feedstocks for commodity plastic resins, and increasing restrictions on the use of nondegradable plastic products, particularly plastic bags. Most important, however, will be the expected continuation of high crude oil and natural gas prices, which will allow bioplastics to become more cost-competitive with petroleum-based resins. These and other trends, including market share and product segmentation, are presented in World Bioplastics, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
Non-biodegradable plant-based plastics will be the primary driver of bioplastics demand, posting extraordinary growth from a small 2008 base. In the next few years, Braskem and Dow Chemical each plan to open plants in Brazil that will produce polyethylene from sugar cane-based ethanol, while Solvay is expected to open a bio-based polyvinyl chloride facility. Biodegradable plastics, such as starch-based resins, polylactic acid (PLA) and degradable polyesters, accounted for the vast majority (nearly 90 percent) of bioplastics demand in 2008. Double-digit gains are expected to continue going forward, fueled in part by the emergence on the commercial market of polyhydroxy-alkanoates (PHAs). PLA will also see strong advances in demand as new production capacity comes online.
Western Europe was the largest regional market for bioplastics in 2008, accounting for about 40 percent of world demand. Bioplastics sales in the region benefit from strong consumer demand for biodegradable and plant-based products, a regulatory environment that favors bioplastics over petroleum resins, and an extensive infrastructure for composting. Going forward, however, demand will grow more rapidly in the Asia/Pacific region, which will surpass the West European market by 2013. Gains will be stimulated by strong demand in Japan, which has focused intently on the replacement of petroleum-based plastics. Other regions, such as Latin America and Eastern Europe, will see stellar gains in bioplastics demand from a very small 2008 base.
Global demand for bioplastics, plastic resins that are biodegradable or derived from plant-based sources, will rise more than fourfold to 900,000 metric tons in 2013, valued at $2.6 billion. Growth will be fueled by a number of factors, including consumer demand for more environmentally-sustainable products, the development of bio-based feedstocks for commodity plastic resins, and increasing restrictions on the use of nondegradable plastic products, particularly plastic bags. Most important, however, will be the expected continuation of high crude oil and natural gas prices, which will allow bioplastics to become more cost-competitive with petroleum-based resins. These and other trends, including market share and product segmentation, are presented in World Bioplastics, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
Non-biodegradable plant-based plastics will be the primary driver of bioplastics demand, posting extraordinary growth from a small 2008 base. In the next few years, Braskem and Dow Chemical each plan to open plants in Brazil that will produce polyethylene from sugar cane-based ethanol, while Solvay is expected to open a bio-based polyvinyl chloride facility. Biodegradable plastics, such as starch-based resins, polylactic acid (PLA) and degradable polyesters, accounted for the vast majority (nearly 90 percent) of bioplastics demand in 2008. Double-digit gains are expected to continue going forward, fueled in part by the emergence on the commercial market of polyhydroxy-alkanoates (PHAs). PLA will also see strong advances in demand as new production capacity comes online.
Western Europe was the largest regional market for bioplastics in 2008, accounting for about 40 percent of world demand. Bioplastics sales in the region benefit from strong consumer demand for biodegradable and plant-based products, a regulatory environment that favors bioplastics over petroleum resins, and an extensive infrastructure for composting. Going forward, however, demand will grow more rapidly in the Asia/Pacific region, which will surpass the West European market by 2013. Gains will be stimulated by strong demand in Japan, which has focused intently on the replacement of petroleum-based plastics. Other regions, such as Latin America and Eastern Europe, will see stellar gains in bioplastics demand from a very small 2008 base.
2009年12月4日
《商情》本周國內外EG、CPL、PTA市場一周綜述
2009.11.28 【時報-記者徐相宜綜合報導】
本周國內外EG、CPL、PTA市場綜述
20091123~20091127：
◎EG： 為反映成本，國內外EG行情同步高漲；由於國際原油價格在近一年高點盤整，加上上游原料乙烯十月初開始反彈，漲勢強勁，並創下近4個月新高紀錄，因而推動EG價格調漲；其中國際大廠薩比特(SABIC)及陶氏(MEG GLOBAL)相繼開出12月合約價，每公噸報860美元；而國內EG廠商亦同步跟進，據業者表示，12月合約價約為每噸860美元，最新EG外銷現貨價已來到820-830美元，儘管荷蘭及中東等國際大廠投產，但預期短期內影響不大，長期走勢仍需觀察市場需求狀況而定。
本周國內外EG、CPL、PTA市場綜述
20091123~20091127：
◎EG： 為反映成本，國內外EG行情同步高漲；由於國際原油價格在近一年高點盤整，加上上游原料乙烯十月初開始反彈，漲勢強勁，並創下近4個月新高紀錄，因而推動EG價格調漲；其中國際大廠薩比特(SABIC)及陶氏(MEG GLOBAL)相繼開出12月合約價，每公噸報860美元；而國內EG廠商亦同步跟進，據業者表示，12月合約價約為每噸860美元，最新EG外銷現貨價已來到820-830美元，儘管荷蘭及中東等國際大廠投產，但預期短期內影響不大，長期走勢仍需觀察市場需求狀況而定。
2009年12月2日
塑膠：報價喊漲激勵股價，惟利差縮小，Q4獲利向下
2009-12-02 新聞速報 【時報記者何美如台北報導】
上游原料乙烯供應吃緊，大陸燕京石化、上海賽科石化PE生產廠又先後非計畫停爐，激勵台塑等國內廠商調漲12月產品內銷報價，其中聚乙烯(PE)漲幅4%至6%最多，激勵二線塑膠股走揚，早盤台聚(1304)、聯成(1313)漲停，亞聚(1308)、台達化(1309)、台塑(1301)、台苯(1310)等也都走揚。不過法人表示，乙烯漲幅過大，下游無法反應成本，第四季利差顯著縮小，加上業外收益也降低，估獲利表現將低於上季。
近期上游乙烯廠因歲修、停爐等因素，在市場供應吃緊下，推升價格向上，漲幅高達三成。不過下游因第四季多數進入銷售淡季，需求不強，無力反映原料成本的向上，目前利差明顯縮小，估第四季毛利率向下，本業獲利顯著下滑，且業外轉投資收益也降低，預期整體獲利將顯著下滑。不過二線塑化股前三季獲利嗆，目前本益比偏低，今日吸引部分買盤進場。
PE生產廠商近月來，由於大陸燕京石化、上海賽科石化PE生產廠，先後因機件故障非計畫停爐，致現貨行情近兩周來上漲達每公噸95美元，漲幅高達7.3%。且農業用膜在大陸北方進入需求旺季，造成大陸下游加工廠搶貨，連印度的下游廠商也加入行列。不過若用利差來看也縮小，預估第四季獲利將顯著下滑。
上游原料乙烯供應吃緊，大陸燕京石化、上海賽科石化PE生產廠又先後非計畫停爐，激勵台塑等國內廠商調漲12月產品內銷報價，其中聚乙烯(PE)漲幅4%至6%最多，激勵二線塑膠股走揚，早盤台聚(1304)、聯成(1313)漲停，亞聚(1308)、台達化(1309)、台塑(1301)、台苯(1310)等也都走揚。不過法人表示，乙烯漲幅過大，下游無法反應成本，第四季利差顯著縮小，加上業外收益也降低，估獲利表現將低於上季。
近期上游乙烯廠因歲修、停爐等因素，在市場供應吃緊下，推升價格向上，漲幅高達三成。不過下游因第四季多數進入銷售淡季，需求不強，無力反映原料成本的向上，目前利差明顯縮小，估第四季毛利率向下，本業獲利顯著下滑，且業外轉投資收益也降低，預期整體獲利將顯著下滑。不過二線塑化股前三季獲利嗆，目前本益比偏低，今日吸引部分買盤進場。
PE生產廠商近月來，由於大陸燕京石化、上海賽科石化PE生產廠，先後因機件故障非計畫停爐，致現貨行情近兩周來上漲達每公噸95美元，漲幅高達7.3%。且農業用膜在大陸北方進入需求旺季，造成大陸下游加工廠搶貨，連印度的下游廠商也加入行列。不過若用利差來看也縮小，預估第四季獲利將顯著下滑。
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