The 42nd Asia Petrochemical Industry Conference (APIC) was held in Seoul, the capital of South Korea, continuing a tradition that began in 1979. Over the years, the seven APIC member associations have fostered a robust partnership, creating a unified community dedicated to advancing the Asian petrochemical sector.
The petrochemical industry faces challenges on multiple fronts, including the energy transition and the goal of achieving carbon net-zero by 2050. Additionally, many petrochemical value chains are projected to experience margin pressures from 2023 to 2026. It is imperative to explore where and what the next growth opportunities, or "green shoots," might be.
Day 1: Chemical Marketing Seminar
APIC 2024 began with chemical marketing seminars on the first day. Leading consulting firms in the petrochemical industry, such as S&P Global, Chemical Market Analysis, Argus, and ICIS, offered delegates insights into the current global economic landscape, an overview of the petrochemical industry, and an analysis of key issues. The speakers emphasised the critical need for sustainability and promoted adopting a circular economy approach as a viable solution.
Day 2: Opening Address by Seven Steering Committee Associations
The second day of the conference commenced with opening addresses from the chairmen of the seven steering committee associations. Under the theme "Trailblazing the Path in a Sustainable Era," the event, hosted by the Korea Petrochemical Industry Association (KPIA), featured distinguished guests sharing their valuable insights.
After the opening addresses, the chairmen from the seven steering committee associations participated in a hand-stamp ceremony on an LED screen, symbolising their unity and commitment to sustainability. KPIA invited notable speakers, including Mr. Oliver Gerard Thorel from SABIC, Mr. Marco Mensink from CEFIC, and Mr. Avinash Goyal from McKinsey, to deliver keynote speeches.
Farewell Party: Announcing the Next Host for APIC 2025
At the Farewell Party, a symbolic handover ceremony took place as all seven chairmen were called to the stage, signifying the transition to the next host for APIC 2025. This event highlighted APIC's tradition, and further details about the next conference will be announced soon.
APIC 2024 successfully convened industry leaders, experts, and stakeholders to discuss the critical challenges and opportunities within the petrochemical sector. By focusing on sustainability and collaboration, the conference paved the way for future innovations and advancements in the industry.
