Chemical industry news · Three minutes a day
Friday, November 6, 2026
Lead Story
AI Chip Demand Powers Third-Quarter Growth at Chemical, Industrial Gas MakersEuropean chemical and industrial gas giants including Syensqo, Linde, and Air Liquide beat Q3 earnings forecasts driven by surging AI chip demand. Companies are ramping up investments and capacity to supply essential ultra-pure gases and specialty chemicals for semiconductor production.
Record low Rhine water levels are disrupting supply chains, forcing Ineos and Shell to cut petrochemical output while barge rates surge between Rotterdam and Basel.
Over 100 European industrial firms, including Covestro and Evonik, warn that proposed EU carbon market reforms threaten production due to rising costs. They urge policymakers to adjust the Emissions Trading Scheme before the December vote to prevent factory closures.
Glenmark Pharmaceuticals reported a 56.8% drop in Q2 profit due to lower North American sales, despite core business growth. The company also settled a $15.28 million dispute with Humana and saw material costs rise 16%.
Nippon Steel raised its fiscal 2026 net profit forecast by 52% to 440 billion yen, driven by strong US Steel earnings and higher steel prices. Improved market conditions and operational efficiency were cited as key factors behind the upward revision.
Novonesis CEO Ester Baiget reported an 8% drop in Human Health revenue due to weak US dietary supplement demand, though Food & Beverage sales rose 14%. The company expects the North American supplement market to recover by the second half of 2027.
Kimberly-Clark upheld its annual forecast despite China sales declines caused by false formamide contamination claims. The firm noted a 100 basis point drag from China, while competitor P&G highlighted rising raw material and energy costs.
US tariffs on Canadian kitchen cabinets will double to 50% in January, threatening thousands of manufacturers in the softwood lumber sector. Companies face existential risks, prompting layoffs and potential production shifts to the US amidst rising costs.
Rising veterinary care costs and medical advances are driving increased US pet insurance adoption, with premiums projected to hit $6.4 billion by 2026. Major animal health firms like Zoetis and IDEXX contribute to expanded treatment options and higher spending.
Adani Ports announced a $2.9 billion acquisition of Evos BV, Europe's second-largest independent liquid storage operator. This deal secures access to critical energy and industrial hubs with 99% commercial occupancy across eight port terminals.
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