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Global Chemicals Quick Review
U.
S.
butadiene supply will increase in 2019
From the end of 2018 to the beginning of 2019, a number of cracking plants for ethylene production in the United States will be put into operation, including Indorama Corporation, South Africa's Sasol Company and Shin-Etsu Chemical Company
.
In addition, some new crackers are expected to be completed and commissioned later in 2019
.
U.
S.
ethylene capacity is expected to increase by about 6 million tons
by the end of 2019.
With the increase of cracker capacity, the production of carbon four raw materials will also increase, resulting in an increase in the production of butadiene in the United States, thereby shifting the US butadiene market from the traditional tight supply to abundant supply, reversing the price of the product in 2019 from the rise in 2018, creating growth opportunities
for the downstream derivatives market and exports.
Saudi Arabia's sovereign wealth fund is the top investor in the chemical industry
In 2018, Saudi and Norwegian sovereign wealth funds joined the ranks of the US-based investment firm Capital Group as top investors in
chemical companies.
According to IHS Markit, as of November 20, 2018, the world's largest single investor in the chemical industry spent on Saudi Arabia's sovereign wealth fund (PIF), largely due to its 70% stake
in SABIC.
Los Angeles-based investment management firm Capital World Investors has historically been a major investor in the chemical industry, and although it holds shares in only 30 chemical companies, it is the second largest equity investor
in the global chemical industry by value.
Norges Bank Investment Management, which manages Norway's sovereign wealth fund, is the third largest equity investor in the global chemical industry, holding shares in 320 chemical companies, making it the largest institutional investor
in chemical companies.
Latin American PE and PP market prices "pressure"
Affected by the sharp decline in global crude oil prices and the large supply of American products, the price of polyethylene (PE) in Latin America has fallen sharply and is still under downward
pressure.
In Mexico, the main problem comes from the large increase
in supplies from US PE producers.
In Brazil, Blasco has been cutting PE prices from November to December 2018 to compete
with imports.
In addition, the Latin American polypropylene (PP) market also weakened
in December 2018, driven by lower raw propylene prices and competitive products from Asia and the Middle East.
Demand for high-performance industrial lubricants in China will continue to grow
Some industry insiders believe that the demand for high-performance industrial lubricants in Asia will continue to grow
.
Alfonso Jesena, Product Manager India and Southeast Asia at FUCHS Oil Group, said: "The Asian market for high-performance industrial lubricants has great potential, with demand for high-performance industrial lubricants in China growing at a record double-digit
rate last year.
Niko Dimopoulos, Technical Manager, High Performance Lubricants, BP Singapore, said: "While overall demand for lubricants in China is likely to decline, demand for more specialized and high-margin lubricants will increase
.
The market share of industrial performance lubricants in China will increase from 11% in 2015 to 16%
in 2020.
Carlos Barrasa, vice president of Castrol's lubricants business in China, said that high-performance industrial lubricants could eventually account for 20% of
China's industrial lubricant demand.
