99S10-toc
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Report Hydrocarbon Resins 99/00S10 March 2001 44 South Broadway, White Plains, New York 10601, USA Tel: +1 914 609 0300 Fax: +1 914 609 0399 “This report was prepared by Nexant, Inc (“Nexant”) and is part of the Process Evaluation Research Planning (PERP). Except where specifically stated otherwise in this Report, the information contained herein is prepared on the basis of information that is publicly available, and contains no confidential third party technical information to the best knowledge of Nexant. Aforesaid information has not been independently verified or otherwise examined to determine its accuracy, completeness or financial feasibility. Neither NEXANT, Subscriber nor any person acting on behalf of either assumes any liabilities with respect to the use of or for damages resulting from the use of any information contained in this Report. Nexant does not represent or warrant that any assumed conditions will come to pass. The report is submitted on the understanding that the Subscriber will maintain the contents confidential except for the Subscriber’s internal use. The Report should not be reproduced, distributed or used without first obtaining prior written consent by Nexant. Each Subscriber agrees to use reasonable effort to protect the confidential nature of the Report.”
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Transcript of 99S10-toc
Report
Hydrocarbon Resins 99/00S10
March 2001
44 South Broadway, White Plains, New York 10601, USA Tel: +1 914 609 0300 Fax: +1 914 609 0399
“This report was prepared by Nexant, Inc (“Nexant”) and is part of the Process Evaluation Research Planning (PERP). Except where specifically stated otherwise in this Report, the information contained herein is prepared on the basis of information that is publicly available, and contains no confidential third party technical information to the best knowledge of Nexant. Aforesaid information has not been independently verified or otherwise examined to determine its accuracy, completeness or financial feasibility. Neither NEXANT, Subscriber nor any person acting on behalf of either assumes any liabilities with respect to the use of or for damages resulting from the use of any information contained in this Report. Nexant does not represent or warrant that any assumed conditions will come to pass.
The report is submitted on the understanding that the Subscriber will maintain the contents confidential except for the Subscriber’s internal use. The Report should not be reproduced, distributed or used without first obtaining prior written consent by Nexant. Each Subscriber agrees to use reasonable effort to protect the confidential nature of the Report.”
Hydrocarbon Resins
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Contents Section Page 1 Executive Summary ................................................................................................. 1-9
1.1 SYNOPSIS..................................................................................................... 1-9
1.2 OVERVIEW .................................................................................................. 1-10
1.2.1 Hydrocarbon Resins – What Are They? ............................................ 1-10
1.2.2 Feedstocks for Synthetic Hydrocarbon Resins .................................. 1-10
1.2.3 Manufacturing Processes ................................................................... 1-11
1.3 PROCESS ECONOMICS.............................................................................. 1-13
1.4 COMMERCIAL STATUS ............................................................................ 1-15
1.5 STRATEGIC ISSUES ................................................................................... 1-17
1.5.1 Value Added Potential ....................................................................... 1-17
1.5.2 Globalisation ...................................................................................... 1-18
2 Introduction.............................................................................................................. 2-1
2.1 AIM OF THE STUDY................................................................................... 2-1
2.2 OVERVIEW .................................................................................................. 2-2
2.2.1 What are Hydrocarbon Resins? ......................................................... 2-2
2.2.2 How Are They Used?......................................................................... 2-2
2.2.3 Feedstock Sources.............................................................................. 2-3
2.2.4 Molecular Structures.......................................................................... 2-4
2.2.4.1 Aliphatic Resins ................................................................ 2-4
2.2.4.2 Resins from Cyclopentadiene............................................ 2-5
2.2.4.3 Aromatic Resins ................................................................ 2-5
2.3 CHEM SYSTEMS PRODUCTION COST METHODOLOGY................... 2-6
2.3.1 Capital Cost Estimation ..................................................................... 2-6
2.3.1.1 Battery Limits Investment ................................................. 2-6
2.3.1.2 Off-Sites Investment ......................................................... 2-7
2.3.1.3 Contractor Charges(2) Typically 15-25 percent of Installed BL and OS Costs ............................................................... 2-8
2.3.1.4 Project Contingency Allowance........................................ 2-8
2.3.1.5 Working Capital ................................................................ 2-8
2.3.1.6 Other Project Costs............................................................ 2-8
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2.3.2 Cost of Production Elements ............................................................. 2-10
2.3.2.1 Battery Limits.................................................................... 2-10
2.3.2.2 Production Costs ............................................................... 2-10
3 Process Technology .................................................................................................. 3-1
3.1 FEEDSTOCKS .............................................................................................. 3-1
3.1.1 Petroleum Derived ............................................................................. 3-1
3.1.1.1 Processing Pyrolysis Gasoline .......................................... 3-1
3.1.1.2 Dicyclopentadiene Removal ............................................. 3-4
3.1.1.3 Piperylene Concentrates .................................................... 3-4
3.1.1.4 C9 Resin Oils .................................................................... 3-6
3.1.1.5 C4 Streams ........................................................................ 3-6
3.1.2 Coal Tar Derived................................................................................ 3-6
3.1.3 Pure Monomers.................................................................................. 3-8
3.1.4 Naturally Sourced .............................................................................. 3-8
3.1.4.1 Rosin Esters and Salts ....................................................... 3-8
3.1.4.2 Terpenoids......................................................................... 3-8
3.1.4.3 Asphaltite .......................................................................... 3-8
3.2 PROCESS CHEMISTRY .............................................................................. 3-9
3.2.1 Lewis Acid Catalyzed ........................................................................ 3-9
3.2.1.1 Cationic Polymerisation .................................................... 3-9
3.2.1.2 Process Control Issues....................................................... 3-11
3.2.2 Thermal Processes ............................................................................. 3-13
3.3 PROCESS DESIGN....................................................................................... 3-14
3.3.1 Aliphatic Resins ................................................................................. 3-14
3.3.2 DCPD Resins ..................................................................................... 3-16
3.3.3 Aromatic Resins................................................................................. 3-17
3.3.4 Waterwhite Resins ............................................................................. 3-19
3.3.5 Other Resin Systems .......................................................................... 3-21
4 Process Economics ................................................................................................... 4-1
4.1 OVERVIEW .................................................................................................. 4-1
4.2 UNITED STATES......................................................................................... 4-3
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4.2.1 Aliphatic Resins ................................................................................. 4-3
4.2.2 Aromatic Resins................................................................................. 4-3
4.2.3 Mixed C5-C9 Systems ....................................................................... 4-3
4.2.4 Thermal DCPD Resins....................................................................... 4-7
4.2.5 Hydrogenation.................................................................................... 4-7
4.2.6 Pure Monomer Resins........................................................................ 4-7
4.2.7 Summary for the United States .......................................................... 4-15
4.3 WESTERN EUROPE .................................................................................... 4-17
4.4 JAPAN ........................................................................................................... 4-19
4.5 SENSITIVITIES ............................................................................................ 4-21
5 Commercial Status................................................................................................... 5-1
5.1 REVIEW OF END-USES.............................................................................. 5-1
5.1.1 Adhesives........................................................................................... 5-1
5.1.2 “Sticky Tapes” ................................................................................... 5-2
5.1.3 Sealants .............................................................................................. 5-2
5.1.4 Coatings ............................................................................................. 5-2
5.1.5 Printing Inks....................................................................................... 5-2
5.1.6 Rubber Compounding........................................................................ 5-3
5.1.7 Plastics Compounding ....................................................................... 5-3
5.1.8 Miscellaneous End-Uses.................................................................... 5-3
5.1.9 Naming and Modeling Conventions .................................................. 5-3
5.2 GLOBAL SYNTHETIC RESIN MARKET.................................................. 5-5
5.2.1 End-Uses ............................................................................................ 5-5
5.2.2 Aliphatic Resins ................................................................................. 5-5
5.2.3 Aromatic Resins................................................................................. 5-8
5.2.4 Waterwhite Resins ............................................................................. 5-11
5.3 UNITED STATES......................................................................................... 5-15
5.3.1 Production Capacity........................................................................... 5-15
5.3.2 Supply/Demand Balance.................................................................... 5-16
5.4 WESTERN EUROPE .................................................................................... 5-20
5.5 JAPAN ........................................................................................................... 5-25
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5.6 OTHER REGIONS........................................................................................ 5-29
6 Strategic Issues ......................................................................................................... 6-1
6.1 OVERVIEW .................................................................................................. 6-1
6.2 VALUE ADDED POTENTIAL.................................................................... 6-2
6.3 GLOBALIZATION ....................................................................................... 6-4
7 References ................................................................................................................. 7-1
Appendix Page A Cost of Production Estimates for Synthetic Hydrocarbon Resin Production in
Western Europe ....................................................................................................... A-1
B Cost of Production Estimates For Synthetic Hydrocarbon Resin Production in Japan ......................................................................................................................... B-1
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Figure Page 1.1 Petrochemical C5 and C9 Stream Production............................................................ 1-11
1.2 Schematic Hydrocarbon Resin Processes .................................................................. 1-12
1.3 Hydrocarbon Resin Production Costs........................................................................ 1-14
1.4 Global Synthetic Hydrocarbon Resin Consumption by Major End-Use, 2000 ......... 1-15
1.5 Global Hydrocarbon Resin Consumption by Type, 1994-2015 ................................ 1-16
1.6 Hydrocarbon Resin Value Added Potential ............................................................... 1-17
2.1 Aliphatic Resin Monomers ........................................................................................ 2-3
2.2 Major Aromatic Resin Monomers ............................................................................. 2-4
2.3 A Possible Aliphatic Resin Structure......................................................................... 2-4
2.4 Cyclopentadiene Resins ............................................................................................. 2-5
2.5 A Possible Aromatic Resin Structure ........................................................................ 2-5
3.1 Petrochemical C5 and C9 Stream Production............................................................ 3-2
3.2 Wilton Coal Tar Distillation Process ......................................................................... 3-7
3.3 Potential Energy Distribution for Lewis Acid Disengagement from Double Bond .. 3-12
3.4 Lewis Acid Catalyst Effects....................................................................................... 3-13
3.5 Semi-Continuous Catalytic Aliphatic Hydrocarbon Resin Plant............................... 3-15
3.6 Semi-Continuous Catalytic Aliphatic Hydrocarbon Resin Plant............................... 3-15
3.7 Semi-Continuous Thermal DCPD Hydrocarbon Resin Plant.................................... 3-16
3.8 Semi-Continuous Thermal Acid DCPD Hydrocarbon Resin Plant ........................... 3-17
3.9 Semi-Continuous Catalytic Aromatic Hydrocarbon Resin Plant............................... 3-18
3.10 Semi-Continuous Catalytic Aliphatic Hydrocarbon Resin Plant............................... 3-18
3.11 Semi-Continuous Catalytic Hydrocarbon Resin Plant............................................... 3-19
3.12 Multipurpose Batch-Wise Homogeneous Hydrogenation ......................................... 3-20
3.13 Multipurpose Batch-Wise Heterogeneous Hydrogenation ........................................ 3-20
4.1 Hydrocarbon Resin Production Costs........................................................................ 4-16
4.2 Hydrocarbon Resin Production Costs........................................................................ 4-18
4.3 Hydrocarbon Resin Production Costs........................................................................ 4-20
4.4 Hydrocarbon Resin Production Costs........................................................................ 4-21
4.5 Aliphatic Resin Production Cost Sensitivity.............................................................. 4-22
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4.6 Aromatic Resin Production Cost Sensitivity ............................................................. 4-22
5.1 Global Synthetic Hydrocarbon Resin Consumption by Region, 2000 ...................... 5-5
5.2 Global Aliphatic Hydrocarbon Resin Consumption by Region, 1994-2015 ............. 5-6
5.3 Global Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 ............ 5-7
5.4 Global Aliphatic Hydrocarbon Resin Trade by Region, 1995-2015 ......................... 5-8
5.5 Global Aromatic Hydrocarbon Resins Consumption by Region, 1994-2015 ........... 5-9
5.6 Global Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 ............ 5-10
5.7 Global Aromatic Hydrocarbon Resin Trade by Region, 1995-2015 ......................... 5-11
5.8 Global Waterwhite Hydrocarbon Resin Consumption by Region, 1994-2015 ......... 5-12
5.9 Global Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015......... 5-13
5.10 Global Waterwhite Hydrocarbon Resin Trade by Region, 1995-2015...................... 5-14
5.11 United States Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015.. 5-17
5.12 United States Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015.. 5-18
5.13 United States Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015 5-19
5.14 West European Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 5-22
5.15 West European Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 5-23
5.16 West European Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015 5-24
5.17 Japanese Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 ......... 5-26
5.18 Japanese Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015......... 5-27
5.19 Japanese Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015 ..... 5-28
6.1 Hydrocarbon Resin Value Added Potential ............................................................... 6-2
Table Page 1.1 Cost of Production Summary for Hydrocarbon Resins ............................................. 1-13
1.2 Major Hydrocarbon Resin Producers Global Capacity, End 2000 ............................ 1-18
3.1 Preferred Polymer - Tackifier Resin Combinations................................................... 3-1
3.2 Composition of A Typical Unsaturated C5 Streams by Source ................................ 3-3
3.3 Composition of A Typical Unsaturated C9 Stream ................................................... 3-3
3.4 Typical Composition Range for Piperylene Concentrates......................................... 3-5
3.5 Typical Composition Range for Piperylene Concentrates......................................... 3-5
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3.6 Composition of A Typical Coal Tar Sourced C9 Stream .......................................... 3-7
4.1 Feedstock Prices......................................................................................................... 4-1
4.2 Utility Prices .............................................................................................................. 4-2
4.3 Cost of Production Estimate For: Aliphatic Hydrocarbon Resin Process: Piperylene-Based, Leis Acid Catalysis ........................................................................................ 4-4
4.4 Cost of Production Estimate For: Aromatic Hydrocarbon Resin Process: C9-Based, Lewis Acid Catalyst................................................................................................... 4-5
4.5 Cost of Production Estimate For: Aliphatic/Aromatic Hydrocarbon Resin Process: C5-C9 Based, Lewis Acid Catalysis.......................................................................... 4-6
4.6 Cost of Production Estimate For: Low Purity Dicyclopentadiene Process: Crude C5 Stream Heat Soak/Fractioncation .............................................................................. 4-8
4.7 Cost of Production Estimate For: Reactive Cycloaliphatic Hydrocarbon Resin Process: Thermal Polymerization of Low Purity DCPD ........................................... 4-9
4.8 Cost of Production Estimate For: Hydrogenated Cycloaliphatic Hydrocarbon Resin Process: DCPD Thermal Polymerisation/High Pressure Hydrogenation .................. 4-10
4.9 Cost of Production Estimate For: C9 Modified Hydrogenated Cycloaliphatic Hydrocarbon Resin Process: DCP/D/C9 Thermal Polymerisation/High Pressure Hydrogenation............................................................................................................ 4-11
4.10 Cost of Production Estimate For: Hydrogenated Aliphatic Hydrocarbon Resin Process: High Pressure Hydrogenation of Aliphatic Resin ....................................... 4-12
4.11 Cost of Production Estimate For: Hydrogenated Aromatic Hydrocarbon Resin Process: High Pressure Hydrogenation of Aromatic Resin ....................................... 4-13
4.12 Cost of Production Estimate For: Pure Monomer Hydrocarbon Resin Process: Two Stage Polymerization ................................................................................................. 4-14
4.13 Cost of Production Summary for Hydrocarbon Resins ............................................. 4-15
4.14 Cost of Production Summary for Hydrocarbon Resins ............................................. 4-17
4.15 Cost of Production Summary for Hydrocarbon Resins ............................................. 4-19
5.1 Global Aliphatic Hydrocarbon Resin Demand by Region, 1994-2015 ..................... 5-6
5.2 Global Aromatic Hydrocarbon Resin Demand by Region, 1994-2015..................... 5-9
5.3 Global Waterwhite Hydrocarbon Resin Demand by Region, 1994-2015 ................. 5-12
5.4 United States Synthetic Hydrocarbon Resin Capacity, End 2000 ............................. 5-15
5.5 United States Aliphatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 5-16
5.6 United States Aromatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 5-17
5.7 United States Waterwhite Hydrocarbon Resins Supply/Demand Balance, 1994-2015 5-18
5.8 West European Synthetic Hydrocarbon Resin Capacity, End 2000 .......................... 5-20
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5.9 West European Aliphatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 5-21
5.10 West European Aromatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 5-22
5.11 West European Waterwhite Hydrocarbon Resins Supply/Demand Balance, 1994-2015 .................................................................................................................. 5-23
5.12 Japanese Synthetic Hydrocarbon Resin Capacity, End 2000 .................................... 5-25
5.13 Japanese Aliphatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 ....... 5-26
5.14 Japanese Aromatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 ....... 5-27
5.15 Japanese Waterwhite Hydrocarbon Resins Supply/Demand Balance, 1994-2015.... 5-28
5.16 Other Synthetic Hydrocarbon Resin Capacity, End 2000 ......................................... 5-29
6.1 Major Hydrocarbon Resin Producers Global Capacity, End 2000 ............................ 6-5
