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    Home > Chemicals Industry > International Chemical > Issue 2, 2021 - Global Chemicals Quick Facts

    Issue 2, 2021 - Global Chemicals Quick Facts

    • Last Update: 2022-11-12
    • Source: Internet
    • Author: User
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    Globalized industry recovers its growth momentum

    The American Chemistry Council (ACC) pointed out in its latest "State and Outlook of the Chemical Industry at the End of 2020" report that global chemical production is returning to growth momentum
    after a sharp pandemic-related downturn.
    U.
    S.
    chemical production (excluding pharmaceuticals) is expected to fall 3.
    6 percent in 2020, the sharpest decline since the 2008 and 2009 global financial crises, but the chemical industry is recovering strongly, with the chemical activity barometer (CAB) monitored by the ACC in November marking the seventh consecutive month of positive growth
    .
    Global chemical production is expected to fall 2.
    6 percent in 2020, the largest decline in at least 40 years, but will rebound 3.
    9 percent
    in 2021, according to the ACC.
    Kevin Swift, Chief Economist at ACC, said: "China is the first country to recover from the market downturn caused by the pandemic, and in September the Chinese economy has fully recovered and entered an expansion phase, and in mid-November, almost all countries and regions around the world began to recover
    .

    Asia will lead the growth of global acrylic acid capacity

    According to GlobalData's latest Global Acrylic Industry Outlook until 2024, global acrylic production capacity will increase by a considerable 19% by 2024, or from 8.
    7 million tons/year in 2019 to 10.
    35 million tons/year
    in 2024.
    Among them, Asia's acrylic acid production capacity will increase from 5.
    44 million tons / year in 2019 to 7 million tons / year in 2024, with an average annual growth rate of 5.
    1%, which will be the main driving force
    for the growth of ductile acrylic acid production capacity.
    It is expected that there will be 12 new acrylic acid construction and expansion projects in Asia by 2024, bringing the new acrylic acid production capacity to 1.
    57 million tons per year
    .
    Among them, China's new acrylic acid production capacity will be far ahead, adding 1.
    03 million tons / year by 2024, and its new production capacity is mainly from Shenghong Holding Group's Lianyungang acrylic acid plant, which has a capacity of 300,000 tons / year
    .



    Japan's lubricant market share tends to be fragmented



    The Japanese lubricant industry has always been known for being dominated by large domestic companies, but over the past few years, its market share has shifted to foreign suppliers and domestic medium-sized suppliers
    .
    Adachi Yukihiko, head of Klein's Tokyo office, said: "The structure of the lubricant market share in Japan has changed
    .
    Eneos Corporation (formerly known as JXTG) has lost some of its market share
    .
    The combined Idemitsu Kosan and Shell Lubricants Japan have slightly increased their market share, but from 2021 onwards, Shell will no longer be part of
    Idemitsu Kosan.
    "The leading suppliers of the Japanese lubricants market in 2019 are Eneos Corporation (31%), Idemitsu Kosan and Shell Lubricants Japan (32%), ExxonMobil (13%), and Cosmo Oil Lubricants (8%)
    .
    In 2015, Eneos had the largest market share, accounting for 37%; followed by Idemitsu Kosan and Shell Lubricants Japan, with 22% each; TonenGeneral is 12%.

    Green energy giants are rising rapidly



    Over the past two years, while the oil majors have declined, a number of previously unknown utilities have been on the rise
    .
    In Europe, Italy's national power company (Enel) and Spain's Iberdrola have emerged as green energy giants, borrowing in part from the practices
    of oil majors.
    Like Shell and BP, which were founded earlier, Enel and Iberdrola have adopted a global strategy and have globalised their operations to meet growing energy demand, albeit with wind and solar rather than fossil fuels
    .
    Their globalization strategy has made them the world's two largest producers of renewable energy, but they want to expand further
    .
    Enel says it will nearly triple its installed capacity to 120 gigawatts
    by 2030.
    Iberdrola has plans
    to double the company's installed capacity to 60 gigawatts by 2025.



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