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2020 Chemical Market Review: Crazy After Suppression

 Last Update: 2022-08-26
 Source: Internet
 Author: User

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The chemical market in 2020 is a year full of magic and drama

International crude oil experienced unprecedented despair in 2020

International crude oil experienced unprecedented despair in 2020
.

The spread of the global epidemic has strongly boosted the demand for related medical products
.

In addition, it is worth noting that, with the vigorous development of the construction of domestic integrated refining and chemical projects, starting from 2020, these projects will gradually enter the peak of production
.

From the beginning of the fourth quarter, the chemical market began to rise strongly
.

Looking forward to the new year, in the crude oil market, the current epidemic situation in Europe and the United States and other regions is still very severe, but with the new crown vaccination schedule, the epidemic will be controlled to a certain extent, and overseas demand is expected to recover
.

In November 2020, the "Regional Comprehensive Economic Partnership" (RCEP) was officially signed.

In addition, the national "plastic restriction order" will be upgraded again.

In 2020, under the double pressure of the epidemic and crude oil, many products once fell to a new low in ten years, but prices rebounded strongly in the later period, and many products reached new highs for many years
.
In general, there are still many large-scale projects expected to be put into production in 2021, and the production capacity of bulk products will be released more.
With the widespread use of vaccines, the global economy will gradually recover from the impact of the epidemic, which will further increase the demand for downstream industries such as automobiles.
The rebound, coupled with the cautious optimistic about the crude oil market, it is expected that in 2021, the chemical market will be difficult to reproduce this year's sharp fluctuations, and will continue the recovery trend
.

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