After the 2021 Spring Festival, the chemical market conditions in China and other celebrated festivals in Asia will be different from previous years.
After the 2021 Spring Festival, the chemical market conditions in China and other celebrated festivals in Asia will be different from previous years.
Although China is about to celebrate the Lunar New Year (February 11 BBB 0 17), companies and factories will resume operations after the Spring Festival than expected due to an increase in cases of the northern coronavirus in some cities and regions. , imposed blockades and promoted millions of migrant workers to celebrate the New Year on the spot.
The problem is that it remains to be seen how much demand for plastics recovers in Asia, as companies are back in business earlier than in the past few years. In previous years, Chinese factories usually closed for two to four weeks during the Chinese New Year holiday.
"Most small and medium-sized chemical plastic processors in China will gradually resume production after February 26. With some workers not returning home this year, demand could recover sooner than usual. This year's Labour shortage may not be severe. Amy Yu, senior analyst at ICIS, said.
The new trend for companies to quickly get back to work after the Lunar New Year holiday is a good thing for the Chinese economy, which has expanded manufacturing for 11 straight months and met demand for plastics across Asia.
Rhian O'Connor, senior analyst at ICIS, said: "Last year, a lot of the chemical demand in China came from exports, particularly for pandemic related supplies such as face masks, laptop computers and home office screens." "With blockades in Europe and other Western countries, some of that demand is likely to continue this year."
"Shopping patterns have changed and online shopping is increasing. This is unlikely to change in the future, but it could benefit packaging polymers (such as shrink and stretch films) and more durable products (such as polymers used in electronics)." O'Connor added.
The need for vaccines will benefit specialized applications such as polypropylene for syringes. But it is still only a small fraction of total demand, "he said.
The slowdown in China's manufacturing activity in January was inevitably reflected in the fall in the official PMI to 51.3 from 51.9 in December, due to the combined impact of the upcoming Lunar New Year holiday and the resurgence of the epidemic.
As a result of the pandemic's impact on demand, companies said growth in production and new orders had slowed, while new export jobs fell, the report said.
"China's domestic demand should have been beaten in the first quarter. The resurgence of an epidemic in some areas has limited travel plans. This may affect sales during the Spring Festival holiday." O 'Connor believes.
The biggest merger with a market chemical capitalization of $190b and $164b for Chevron, the combined size would be $350b. It would be the world's second-largest oil company by market capitalization and output, behind Aramco and Saudi Arabia. Aramco has a market capitalization off about $1.8 trillion. At pre-outbreak levels, the combined company could produce about 7 million barrels of oil a day.
The deal would be far bigger than the mergers of major chemical companies that took place in the late 1990s and early 2000s, including ExxonMobil, Mobil, Chevron and Texaco.
It may also be the biggest chemical corporate merger in history. Vodafone Group holds that record with its $181 billion acquisition of German company Mannesmann AG in 2000, according to Dialogue.
The oil industry completed several major acquisitions in 2020, including Chevron's $5 billion acquisition of Noble Energy Inc. And ConocoPhillips' $9.7 billion acquisition of Poncho Resources Inc.
This is a family
ExxonMobil and Chevron started out as "family". In 1911, Standard Oil Monegority founded by Rockefeller was divided into three larger Oil companies (Standard of New Jersey, Standard of New York, Standard of California) and four other original Oil companies according to the United States Anti-Trust Law. These include Mobil, ExxonMobil and Chevron.
From the mid-1940s to the mid-1970s, the seven sisters of the oil industry dominated the global oil industry. Before the 1973 oil crisis, the "seven sisters" controlled about 85% of the world's oil reserves.
What are the benefits of consolidation?
Many investors, analysts and energy executives are calling for further consolidation in the oil industry, where cost cuts and operational efficiencies will help the company weather the pandemic-induced recession and prepare for an uncertain future.
Energy analyst Paul San-key first floated the idea of combining Chevron and ExxonMobil in October. The combined company would have a market capitalization of about $300 billion and debt of about $100 billion, he said. Together, the two companies could cut $15 billion in overheads and $10 billion in annual capital spending.
Some analysts say the combination of the two companies to create the world's second largest oil company could change the global energy market.
Last year, a price war between Saudi Arabia and Russia, the world's largest oil exporter, triggered a panicked plunge in international oil prices that devastated the U.S. oil industry and forced many U.S. companies to go bankrupt, lay off employees and merge.
Reuters says the price war highlights the vulnerability of U.S. oil companies. Compared with other countries, the U.S. government's ability to interfere with oil companies is limited. U.S. oil companies compete with each other and set different production targets. If the two companies merge, it would be an American oil major's best chance to compete with Saudi Arabia and other big national oil companies.
In the longer term, further consolidation in the oil industry can also prepare for future uncertainty and transformation. In response to climate change, many countries are reducing their reliance on fossil fuels.
Unlike their European peers BP and Shell, Exxon Mobil and Chevron have not made big investments in renewables, opting instead to double their investments in oil and gas projects. Both companies agree that the world will need a lot of fossil fuels in the coming decades, and that the current lack of investment in oil production will create a mismatch between supply and demand.
The chemistry business helps create chemical products that make us safer
The chemical products helps create chemicals that make us safer
February 20, 2021 David Stannis
4 always watch
Chemical products help us create chemical products that make us safer -- at home, at work, at play, on the road, and even on the battlefield. Modern chemicals have been developed with the help of 544,000 American employees, and with the latest technology constantly evolving, our lives are much safer.
This is followed by a list of chemicals that may be produced through the chemical industry and have an impact on our daily lifestyle:
Plastic seat belts, baby seats and airbags have saved countless lives on the road.
LED traffic lights, reflective signs and foam-filled crash drums made us feel relaxed.
Stores of medical supplies, X-rays, blood bags and pills are stored in the emergency room.
Bicyclists, skiers, hikers, climbers and outdoor enthusiasts of all kinds rely on CFRP systems and protection, from skis and boots to goggles and ropes.
Chemical products
Lightweight bulletproof vests have saved life in law enforcement and on the battlefield.
The MRES is packaged in plastic and can properly supply food to infantry in the field, then heat itself with chemicals.
Echoemi is a B2B website for the global chemical industry. You can find leading manufacturing companies, top suppliers and quality chemical products here. We help you complete the global chemical business.
Company profile
Hunan Lanhai Rosemary Biotechnology Co., Ltd. is a professional plant rosemary, deep processing and industrialization of the development of enterprises, with rosemary nursery base, nursery demonstration base, processing plant, natural extract engineering technology research center and rosemary landscape. Science Exhibition Center has a complete industrial chain, rosemary plant extraction, application technology research, derivative product development, high-tech achievements transformation and product testing services are integrated, is the leading domestic rosemary industry. The company has established a rosemary seedling and breeding base covering an area of 500 mu in Changsha, which can produce millions of rosemary seedlings and millions of rosemary potted plants. The company + base + farmer model has developed a rosemary planting base of more than 5000 mu, making it the largest rosemary professional planting enterprise in central China. Company is committed to grasp core technology, and the central south university, hunan agricultural university, central south forestry university of science and technology, hunan university of Chinese medicine, hunan academy of agricultural sciences research institute established long-term strategic cooperative relations, such as advanced planting technology and the development of extraction technology, developed a creatine, rosemary acid, ursolic acid, lutein and zeaxanthin and a series of natural antioxidant products, mastered the advanced plant extraction and deep processing technology.
2025