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Global Chemicals Quick Review
The market outlook for refining catalysts is promising
John Murphy, president of Catalyst Group Resources, said: "Transportation fuel demand is in good shape and globally, refining catalyst suppliers are in better than expected
shape.
" Tom Petti, president of the refining technology division of US refining catalyst giant Grace Corporation, also said: "In the fluid catalytic cracking (FCC) space, we see some new units coming into service
in the next few years.
These units can produce large quantities of petrochemical feedstocks such as propylene and transportation fuels, and most present excellent opportunities
for catalysts.
In the area of hydrotherapy, Grace has also found that refiners will continue to invest in residue upgrading units
, driven by the International Maritime Organization (IMO) 2020 regulations.
Overall, demand from refining catalyst suppliers is expected to remain stable
in the near term.
Singapore lubricants company saw strong net profit growth
Singapore-based lubricant blenders United Global and AP Oil showed strong net profit growth
in 2019.
United Global reported a net profit of $66.
5 million in 2019, a significant increase of 764%
year-over-year.
The company said this was mainly spurred by
the company's sale of a 40 percent stake in its subsidiaries to its Repsol subsidiary.
A joint venture between Repsol and United Global will manufacture and supply Repsol brand lubricants in
Singapore, Indonesia, Malaysia and Vietnam.
Singapore-based independent lubricant blender AP Oil said its net profit in 2019 increased by 17% year-on-year to S$2.
3 million, although sales revenue fell 20% year-on-year to S$62.
8 million, mainly due to lower
volumes.
The Asian petrochemical price index fell sharply
Asian petrochemical prices fell sharply in February due to China's efforts to contain the novel coronavirus epidemic, with the ACUNS Asia Petrochemical Price Index falling 6.
22% and the global petrochemical price index falling by about 1%
in the month.
Compared with February 2019, the global petrochemical price index fell sharply by 11.
34%, of which the US index fell by 12.
88%, the Northeast Asia price index fell sharply by 17.
65%, and the Northwest Europe price index fell by 3.
52%
year-on-year.
The market outlook for lubricant viscosity index improvers is complex
Market participants said that the global lubricating oil viscosity index improver market prospects are complex, from a fundamental point of view, demand will continue to grow in the short term, but in the long run, the market prospects are still not obvious
.
The main driving force for the growth in demand for lubricant viscosity index improvers is that emerging markets are continuing to reduce the use of low-viscosity lubricants and increasingly use high viscosity index lubricant products, which provides growth opportunities
for the lubricant viscosity index improvers market.
At the same time, however, the use of high-quality base oils is becoming more prevalent, which will divert the demand
for viscosity index improvers.
While lubricant marketers want to simplify the lubricant blending process, the diversity of viscosity index improver suppliers and product options and the high cost of viscosity index improver exchange testing are barriers to
simplifying the blending process.
