Glossary

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Maintenance

Maintenance is an annualised average charge to cover both day to day maintenance costs as well as a charge for 3-5 year plant turnaround maintenance.

Maleic Anhydride

Maleic Anhydride (MAN) has traditionally been produced by the oxidation of benzene, but more recently, n-butane has replaced benzene as the main feedstock. MAN is a versatile molecule that lends itself to many applications requiring multi-functionality. The main applications for refined MAN are unsaturated polyester resins and fine chemicals (alkenyl succinic anhydrides, fumaric acid, polyaspartic acid).

Market Balance

The Market Balance refers to the relative contributions of production, consumption and trade in a given region. Regions having a consumption level that is significantly above the installed capacity will necessarily be importers, while those with a large installed production base and little local demand will export.

Market Dynamics

Market Dynamics refers to our report analysing the interation of SupplyDemand in and between regions and how the interaction changes over time pertaining to consumption, production, imports, exports, inventory and operating rates for a selected product chain.

Market Tightness

Market Tightness refers to the availability of incremental production, both in a given region and also globally. The operating rate provides a measure of this tightness, however the relative tightness of a given operating rate can vary from process to process depending on the operating characteristics of the technology. A market where incremental supply is limited, and product availability is therefore low is regarded as being tight.

Marketer

Marketer capacity reflects the proportion of a plants production capability that is marketed by each party based on our understanding from public domain commercial agreements. This is often different to the Plant Owner capacity, especially if one party has far greater experience in petrochemical marketing.

Medium Crude

Medium Crude is a term used to define a crude oil part way between Light Crude and Heavy crude.

Melamine

Melamine is a white crystaline solid produced by the reaction of ammonia and urea over a catalyst. It is typically shipped in bags and is used mainly as a raw material in the production of melamine formaldehyde resins. These resins are used to produce wood laminates, in textile and paper treatment and as leather tanning agents. Melamine itself also finds applications in flame retardants, speciality fertilizers, ion exchange resins and as a concrete additive.

Methanol

Methanol, the simplest of the alcohol compounds, is a toxic, flammable liquid with a distinctive odour. Methanol is mainly produced by the reforming of hydrocarbon feedstock syngas, which is mainly derived from natural gas, but can also be derived from coal or refinery residues. As methanol is relatively simple to ship, it provides a means to exploit natural gas reserves which are too remote to be connected to consumers by pipeline, so called "stranded gas". For this reason most of the world's methanol is now produced in remote areas and shipped to consumers in large dedicated methanol carriers.

Methanol is a bulk commodity chemical and its major derivatives are formaldehyde, methyl tertiary butyl ether (MTBE), acetic acid, methyl methacrylate (MMA), and di methyl terephthaliate (DMT).

Middle East

Middle East is defined as containing the following countries: Afghanistan, Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, Syria, Turkey, UAE

Mixed C4

Mixed C4 is the term used to describe the mixture of four carbon compounds that are commonly produced from a steam cracker. Four carbon compounds differ from the shorter olefins in that they can be formed in a variety of structures, being straight or branched and with one or two double bonds. These separate chemicals can either be separated within the steam cracker, or alternatively at separate dedicated extraction units.

Mixed-Xylenes

Mixed Xylenes refers to a mixture of xylene isomers, meta-xylene, ortho-xylene and para-xylene, which are obtained from various sources within a refinery or steam cracker. Although they can be used in a mixture for solvents, they are usually separated and used as feedstock for a limited range of intermediates. They are one of the "aromatic" compounds, along with benzene and toluene. The largest use is para-xylene for polyester production.

Mono Ethylene Oxide

Mono Ethylene Glycol (MEG) is the main constituent of anti-freeze, although consumption of MEG in the production of PET has now overtaken this as the main End-Use, and MEG is therefore classed as a polyester intermediate. MEG is produced by the reaction of ethylene oxide and water, and most modern plants are combined EO/MEG units. MEG is produced in all regions, although to an increasing extent in the Middle East.

Monomer

A monomer is the basic building block used to created polymeric chains. Ethylene, propylene and styrene are the monomer units used to produce polyethylene, polypropylene and polystyrene respectively.

MTBE

Methyl Tertiary Butyl Ether (MTBE) is a volatile, combustible, colourless liquid that is categorised as an oxygenate due to its ability to boost the oxygen content and octane rating of gasoline. It is relatively water soluble and exhibits an unpleasant taste and odour in solution. MTBE is produced from methanol and isobutylene, as is produced both by refiners to meet their own requirements and by major export-based producers in the Middle East, Europe and the United States. MTBE has marginal outlets as a solvent in chemical and medical applications, although its dominant End-Use is as a gasoline additive. It is currently being phased out of the gasoline market in the USA due to concerns over groundwater contamination.

n-Butanol

N-Butanol is an oxo-alcohol mainly used in the production of the butyl acrylate, which finds uses in the coatings industry. Others uses are in smaller volume acetate and glycol ether formulations. It is also used directly as a solvent. Most butanol is manufactured propylene with syngas in an oxo-process, then catalytically hydrogenated. Another major route, developed by Shell involves a one-step reaction with propylene and co-produces 2-ethylhexanol. There are other routes, including fermentation, which is not commercially viable. N-Butanol is a propylene derivative, and is produced in all regions.

N-butyraldehyde

The primary use for n-butyraldehyde is as a chemical intermediate in producing other chemical commodities such as 2-Ethylhexanol (2-EH) and n-butanol. Other products requiring n-butyraldehyde include trimethylolpropane (TMP), n-butyricacid, polyvinyl butyral (PVB), and methyl amyl ketone. Smaller applications include intermediates for producing pharmaceuticals, crop protection agents, pesticides, synthetic resins, antioxidants, vulcanization accelerators, tanning auxiliaries, perfumery synthetics, and flavors. N-butyraldehyde is a clear, mobile, flammable liquid with pungent odor. it is extremely flammable as liquid and vapour. The vapour may cause a flash fire. N-butyradehyde may irritate the skin and burn the eyes. Peroxides are formed upon degradation while inhalation of vapour and mists may cause a narcotic effect.

Naphtha

Naphtha refers to a range of middle distillate streams whose composition lies part way between gasoline and kerosene. Paraffinic naphtha is a preferred feedstock for petrochemical production via the steam cracking to ethylene and co-products. Naphtha streams with a higher aromatic content are meanwhile processed in reformers to make additional gasoline as well as producing valuable aromatics compounds for the petrochemical industry.

Natural Gas

Natural Gas is the name given to dry gas streams composing mainly of methane (CH4). It may also contain small volumes of ethane, propane and butane as well as traces of other gases, such as carbon dioxide. Various components of natural gas is separated via distillation and are used to make methanol and various olefins.

Net Exports

Net Exports show the trade balance in a given region, being the sum of materials exported from the region, less any imports. Our methodology calculates trade forecasts on a region to region basis ensuring that all exports are sent to regions that need additional supply.

Netback

The Netback is the sales realisation achieved by the producer after allowance is made for freight costs from the chosen point(s) of sale.

Nitrobenzene

Nitrobenzene is an aromatic derivative produced by nitration of benzene with nitric acid in the presence of sulfuric acid. Almost all nitrobenzene is converted to aniline by hydrogenation.

North America

North America is defined as containing the following countries: Canada, Mexico, United States

Nylon

Nylons (polyamides) are the oldest and largest volume engineering polymers. Nylon refers to a family of a highly versatile materials that are consumed in a variety of applications including fibers, films and molded materials. Nylons are strong, tough polymers with good resistance to elevated temperatures and attack by chemicals.

Nylon Intermediates

The Nylon Intermediates are the family of chemicals used in the production of the nylon family of polymers.