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Global Chemicals Quick Review
Japanese chemical companies are transforming into high value-added products
Challenged by declining domestic demand for basic chemicals and increasing competition from overseas markets, Japanese chemical producers have begun to focus on advanced materials and specialty chemicals with
high added value.
Masakazu Tokura, chairman of Sumitomo Chemical, said the company's latest three-year business plan, which was launched on April 1 this year, will further upgrade its business portfolio
.
The company will focus its resources on developing its business in the environment and energy, information and communication technologies, and life sciences, where the company can deliver value
through technological innovation.
Tsutomu Tannowa, chairman and CEO of Mitsui Chemicals, also said that the company's current investment focus is on three businesses
with high growth potential: automotive materials, healthcare and food and packaging.
In the first quarter, the value of M&A transactions in the US oil and gas industry fell year-on-year
According to PwC's latest analysis report, M&A activity in the U.
S.
oil and gas industry remained stable in the first quarter of this year, but the value of
M&A transactions fell year-on-year.
The U.
S.
oil and gas industry announced 39 large M&A deals (each valued at more than $50 million) in the first quarter of this year, with a deal value of $28 billion, compared to 39 large M&A transactions worth $34.
4 billion
in the same period last year.
The number of M&A deals announced by the U.
S.
oil and gas industry in the first quarter of this year was the same as last year, but the value of deals fell 19%
year-on-year.
PwC said that the decline in transaction value in the first quarter of this year was mainly due to the decline
in transaction value caused by low oil prices.
India accelerates petrochemical capacity expansion to meet demand growth
Vikram Sampat, head of aromatics business at Trusted Industries India, said that the growth rate of India's petrochemical industry will reach an average annual rate of 8%~10%
by 2020.
Spurred on by strong demand growth, India has announced a significant increase in petrochemical capacity
.
India plans to add more than 3 million tons of ethylene capacity by 2020, when India's domestic ethylene production capacity will exceed 7 million tons
.
India's ethylene capacity is still expected to increase as construction of a new $5 billion petrochemical plant by Hindustan Petroleum and GAIL in Andhra Pradesh
begins.
In addition, Indian Oil Corporation has announced an investment of more than $5 billion in new petrochemical capacity by 2022, including new polypropylene capacity at the Paratib and Baroni refineries, and the expansion of the Panipat cracker to 1.
3 million tonnes
by 2020.
India is also increasing polyethylene terephthalate (PET) and purified terephthalic acid (PTA) capacity, as well as other downstream petrochemical derivatives capacity
.
Even if new petrochemical capacity comes on stream as planned, India will still need to rely on imports to meet demand
.
The 2016 list of the top 50 chemical companies in the United States was released
Chemistry & Engineering News' 2016 Top 50 U.
S.
Chemical Companies list has been released, based on
2015 chemical sales revenue.
Affected by the decline in chemical sales prices caused by the sharp drop in oil prices, the total operating income of the top 50 US chemical companies reached US$280.
8 billion in 2015, a year-on-year decrease of 14.
7%.
Sales revenue in 2015 hit its lowest level since 2009, and in 2009, due to the global financial crisis, the combined sales revenue of the top 50 U.
S.
chemical companies was $247.
5 billion, down 21%
year-on-year.
In 2011, the sales revenue of the top 50 chemical companies in the United States reached a record
high of $333.
6 billion.
This year's rankings included 41 chemical companies that provided profit figures, and the combined operating profit of these 41 companies reached $32.
5 billion in 2015, a slight decline of 3.
2% year-on-year, which is still a strong year
of profit.
Of the 41 companies, only Axiall and Koppers posted losses
in their chemical operations in 2015.
