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This year, the COVID-19 epidemic has brought profound changes to the macro development trend of the world chemical industry
.
Supply localization trend is obvious
Supply localization trend is obvious Supply localization trend is obviousUnder the influence of the epidemic, the large-scale blockade has a significant impact on the security of the global supply chain, leading to the globalized industry is shifting investment to supply localization
.
Under the influence of the epidemic, the large-scale blockade has a significant impact on the security of the global supply chain, leading to the globalized industry is shifting investment to supply localization
.
Several companies are pursuing this strategy, including US companies
.
Of course, this does not mean that the United States and the Middle East will no longer build large-scale cracking plants and other chemical projects.
Investments have been delayed and cancelled Investments have been delayed and cancelled
In addition to the localization trend, U.
S.
ethylene projects have also been affected by investment and have been repeatedly delayed or even cancelled
.
In addition to the localization trend, U.
Thailand's PTTGC has yet to make a final investment decision (FID) for its 1.
A spokesman for Chevron Phillips Chemical said: "Like other capital-intensive projects, we are closely monitoring economic trends and making adjustments to keep this project on track
.
Dow Chemical's previously planned 600,000-ton/year linear low-density polyethylene (LLDPE) expansion project at Freeport has yet to start
.
Peak capacity growth Peak capacity growth
Obviously, under the influence of various factors, the growth of ethylene production capacity in the United States has reached its peak
.
Obviously, under the influence of various factors, the growth of ethylene production capacity in the United States has reached its peak
.
In the future, as domestic and global demand continues to grow, excess capacity may be digested again to make room for new capacity
.
But the new capacity will be far from returning to the scale once planned
.
James Ray, vice president of the Americas at ICIS, said: "In the future, from a global perspective, the PE utilization rate will remain at around 85%, and the production capacity will not be severely overcapacity
.
For North America, the key issue is how to carry out US PE distribution on a global scale
.
Because Now some countries are still looking for a considerable amount of PE supply
.
" The US PE resin consumption is growing strongly, and its domestic demand will slowly erode some exports
.
But at the current stage, to prevent excess capacity, most companies have suspended investment in US PE projects
.