-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
The outlook for the global methanol market is worrying
Against the backdrop of the global coronavirus pandemic and lower crude oil prices, global methanol prices generally maintained a downward trend
.
At the end of May, methanol prices in most regions fell by about 45% compared to early January 2019, reaching their lowest level
since June 2002.
Although market demand is slowly picking up, the global methanol market is expected to remain weak in the second half of this year, and global methanol plant operating rates will decline
.
This is mainly caused by oversupply, weakness in China's futures market and insufficient storage capacity, which will put pressure on
methanol prices in the second half of the year.
Axis Xunsi's preliminary forecast shows that global methanol demand will decline by 5% year-on-year in 2020, and the consumer demand of end users is expected to fully recover
in the next 1~2 years.
Due to declining demand and insufficient storage capacity, Axis expects global methanol plant operating rates to decline by 10 percentage points to 60%
in 2020.
The global food-grade lubricants market is set to grow rapidly
According to a new report by market research firm Data Bridge, the global food-grade lubricants market will grow at an average annual rate of 7.
1% by 2027, reaching a market value of $387.
83 million
, driven by growing food safety concerns and a growing population.
European food-grade lubricant production is dominated by a handful of companies, including FUCHS, Klüber Lubrication, Lanxess, Total and SKF of Sweden
.
Many European food manufacturers insist that raw material producers use a food-grade lubricant to reduce the amount
of mineral oil saturated hydrocarbons (MOSH) and mineral oil aromatic hydrocarbons (MOAH) in food.
The German Chemical Industry Association called on the government to introduce stimulus policies
The German Chemical Industry Association (VCI) said that the impact of the new crown pneumonia epidemic on the German chemical industry in the first quarter was relatively small
.
VCI noted that although the German economy contracted by 2.
2% in the first quarter, production of chemicals (excluding pharmaceuticals) increased by 1.
5% year-on-year and 3.
6% month-on-month, mainly driven
by strong demand for hygiene products and packaging materials.
However, in the second quarter, the impact of the new crown pneumonia epidemic began to be fully felt, private consumption fell, investment in equipment, machinery and vehicles fell sharply, and industrial production fell, resulting in a decline
in chemical demand.
The VCI calls on the government to introduce policies to accelerate the economic recovery, increase government spending, increase investment in construction, and provide financial support to small and medium-sized enterprises to prevent further sharp declines
in the economy.
China's chemical industry has been slow to recover
Government-backed infrastructure investment is a glimmer of hope for Chinese chemical manufacturers, but overall, the Chinese chemical sector will continue to recover slowly
from the coronavirus-induced lockdowns and subsequent recession.
On May 27, China's National Bureau of Statistics released data
for the first four months of this year.
The data shows that the average profit of major enterprises in 41 industries in China fell by 27%
year-on-year.
Among them, the chemical manufacturing industry ranked fourth from the bottom, ahead of the metallurgy, oil and gas exploration and automotive industries, with a decline of 48%.
According to data from the China Petroleum and Chemical Industry Federation (CPCIF), China's chemical industry achieved revenue of about $460 billion in the first four months of this year, down 14% year-on-year and profit fell 82%.
CPCIF's statistics cover a wider range of chemical industries than the National Bureau of Statistics
.
However, CPCIF said chemical exports rose 1% year-on-year in April, the best month in the month, while May showed a clear recovery
.
