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Global Chemicals Quick Review
Syngenta looks ahead to the future of the acquisition
Syngenta recently announced its new goals and priorities
for its merger with ChemChina.
Syngenta aims to expand market share through organic growth and partnerships, and the company is also considering targeted seed-focused acquisitions
.
The move aims to cement Syngenta's leadership position in crop protection to become the world's third-largest seed giant
.
The key driver for the company's next phase of growth is further expansion in emerging markets, especially in China, to accelerate digital agriculture, invest more in new technologies, increase crop yields while reducing CO2 emissions, and conserve water resources
.
Following the June 26 shareholders' meeting, ChemChina Chairman Ren Jianxin reiterated that Syngenta would remain independent and continue to run the company
with its existing management team.
Saudi Aramco and Total study new mixed feed pyrolysis plant
Saudi Aramco and Total are considering building a new hybrid feed cracker and derivatives plant
near their joint venture refinery in Jubail, industry sources said.
According to people familiar with the matter, the cracker is expected to have a design capacity of 1.
5 million tons and is currently in the initial stage
.
Some of the feedstock for the cracker will come from SATORP, an existing joint venture between Saudi Aramco and Total, and Sardar, a joint venture between Saudi Aramco and Dow Chemical in Jubail
.
"This is a greenfield project and Saudi Aramco and Total have already started feasibility studies
," the people familiar with the matter said.
The person estimated the cost of the project, named Amiral, to be about $3 billion, while another said the cost of the cracker and other downstream devices was expected to be about $5 billion
.
Indian refiners are gradually turning to the crude spot market to meet demand
Indian refiners have gradually increased their purchases of sour crude from the Middle East and Russia in the spot market, partly to meet increased demand after the expansion of refining capacity, and partly to be able to react quickly to market changes and buy crude
when prices are competitive.
Indian refiners such as Indian Oil Corporation (IOC) and BPCL have chosen to buy more spot crude rather than increase supply of long-term contracts
as they gradually increase refining capacity, industry sources said.
IOC's new 300,000 b/d refinery is expected to reach full capacity this year, while BPCL's Cochin refinery will be expanded in September, increasing its capacity to 310,000 b/d
.
Ehsan UlHaq, a director at London-based consultancy Resource Economics, said: "Indian refiners are buying heavier crude to boost middle distillate and fuel oil production because refining margins have strengthened
.
”
The global construction chemicals market is set to maintain its growth momentum
According to a recent report completed by IHS Chemicals, the world construction chemicals market sold 11 million tons in 2016, with a market value of $34 billion
.
The report predicts that driven by environmental protection regulations and sustainable development, the global demand for such products will increase at an average annual rate of 4.
3% in 2016~2021, and the total consumption of construction chemicals in the world will increase to 13.
6 million tons by 2021.
According to the latest statistics, concrete admixtures accounted for the largest share of the construction chemicals market, reaching 37%, with a market value of about $12.
5 billion in 2016; This is followed by adhesives and sealants, with a market value of about $10.
1 billion and a market share of 30%.
In the current total global market of US$34 billion, China accounts for the largest share, accounting for nearly one-third of the global value; followed by Western Europe, accounting for 21%; North America ranks third, accounting for 15%
of the global market.
