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Automotive chemicals: Chip supply shortage weighs on demand

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

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According to recent news from ICIS, a global chip shortage is threatening the auto industry, which is just beginning to recover, and the global demand for auto chemicals

Auto sales rebound

Auto Sales Rebound Auto Sales Rebound

Car sales in China, the world's largest auto market, have rebounded strongly from lows during the massive coronavirus lockdown

Car sales in China, the world's largest auto market, have rebounded strongly from lows during the massive coronavirus lockdown
.

Chip supply shortage forces auto production cuts Chip supply shortage forces auto production cuts

Auto production has already been disrupted by chip shortages

Auto production has already been disrupted by chip shortages
.

An Audi spokesman said: "Given the rapid recovery in the automotive market, the chip supply shortage has caused major disruptions to global automakers
.

In December, Audi AG's parent Volkswagen announced plans to reduce vehicle production at plants in China, North America and Europe in the first quarter of 2021, blaming private ownership of the supply of chips
.

Demand for automotive chemicals suffers Demand for automotive chemicals suffers

Demand for chemicals and polymers closely related to the automotive industry could be threatened by roadblocks to the industry's recovery

Demand for chemicals and polymers closely related to the automotive industry could be threatened by roadblocks to the industry's recovery
.

In terms of consumption, polypropylene, polyurethane, polyamide, polyvinyl chloride and acrylonitrile-butadiene-styrene (ABS) are the most consumed polymers in the automotive industry
.

Nel Weddle, senior editor for olefins at ICIS, said: "The European butadiene market is already under downward pressure as the Asian butadiene market is weak, supported by ample supply and new capacity.
So any additional demand pressure is bad news for global markets
.
"

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