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ChemAnalyst is ‘one stop’ online portal that offers comprehensive market intelligence data and in-depth analysis on the Indian chemical and petrochemical industry
Global Phenol Market Demand Is Anticipated to Surpass 15.80 Million Tonnes by 2030
According to ChemAnalyst report, “Global Phenol Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2030”, the global Phenol market is expected to grow at a healthy CAGR of 5.5% during the forecast period on account of increase in demand for Phenol derivatives from downstream capacity expansions, particularly Bisphenol A (BPA) and Polycarbonate. More than 50 per cent of total Phenol output globally is consumed for BPA production. BPA demand is driven by strong growth in the polycarbonate market serving multitude of industries such as automobile, electrical and electronics, construction materials, medical devices among many others, globally. Asia Pacific region is likely to see around 15 planned capacity additions in Polycarbonate units by 2023. Additions in BPA capacity is also to happen in the region where China will lead in Phenol demand, followed by India.
Browse complete Report: Phenol Market Demand & Supply
However, sudden outbreak of novel Coronavirus has rendered a sharp decline in Phenol demand, almost by 22 per cent globally. Phenol market outlook for the year 2020 seems bearish as several downstream companies declared force majeure which has caused a significant reduction in total Phenol offtake. As several countries adopted lockdown measures to curb the spread of coronavirus, reduced Phenol offtake from downstream manufacturers of BPA, epoxy resin, nylon and polycarbonate units by the end of first quarter has caused downshift in Phenol production as well as consumption. Phenol prices tumbled on account of slump in demand and surplus availability in Phenol producing countries like China, India, U.S., Germany, etc. Phenol demand has already taken a hit globally and piling stock of inventories in excess has further pressurized Phenol prices in the international market.
Chemical Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
International prices of phenol which recorded an all-time low in March have rebounded in some of the economies which have managed to limit the rate of COVD-19 infection and have started turnaround in Phenol production units. Industries in India are anticipating plant turnarounds by first week of May 2020 while those in European countries are taking longer time to recover from dampened demand and resulting plunge in Phenol prices. Europe’s phenol giant INEOS shut its manufacturing unit in Belgium for about 6-weeks starting March 2020, thereby, reducing Phenol output in the region. Other major players like Shell Global, Cepsa Corporation, Olin Corporation who had announced plant closures earlier, have resumed operations running plants at 60% operating rate to mitigate the blow of demand slowdown. While Phenol April contract prices plunged to 11 years low in Europe, Asia’s Bisphenol A (BPA) cargoes were traded at higher prices touching nearly $920/tonne CFR China, moving up by about $40-$50/tonne in April since March, due to rebounding feedstock Phenol prices in the region.
Although 2020 doesn’t seem promising for Phenol manufacturers but recovery in demand is expected as soon as the international market stabilizes and resulting pick-up in demand following growth in downstream and end user industries.
INEOS Phenol, Shell Global, Cepsa Corporation, PTTGC., AdvanSix Inc., Formosa Chemicals and Fibre Corporation., LG Chem, Mitsui Chemicals Inc., Honeywell, DOW Chemicals, Taiwan Prosperity Chemical Corp (TPCC), Sabic Innovative Plastics, Mitsubishi Chemical, Deepak Nitrite Ltd., are some of the leading players operating in the global Phenol market.
Regionally, the Phenol market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, “Global Phenol Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2030”, Asia Pacific is expected to witness fastest growth in the overall Phenol market owing to the increase in exports of raw material and finish goods across the globe backed by huge investments which are scheduled to be on stream by 2023. Asian Phenol players are optimistic as China, the economy which accounts for the largest phenol demand, is heading towards industrial recovery after waging a long battle against coronavirus. The market optimism among Phenol players is due to a sharp spike in China’s official manufacturing PMI which touched 52 after a slip to 35.7 in February 2020. Strong surge in the demand for by-product Acetone for disinfectant manufacturing has further improved Phenol demand in APAC countries.
“Asia Pacific would augment the growth in global Phenol market during the forecast period as large downstream-derivatives capacities are stated to come on stream by 2023. Among the APAC countries, Malaysia and India are major producers of Phenol derivative BPA with China leading in Phenol demand due to growth in polycarbonate-based downstream units in the recent years. As Phenol demand is anticipated to recover post the pandemic, China will be the major country leading in overall Phenol demand which currently accounts for roughly 25% of the global Phenol demand and about 50% of the total nylon supply demand. In the next five years, China’s Polycarbonate production capacity is expected to increase at a rate of 6%, leading to higher consumption of BPA and ultimately Phenol. Moreover, since Cumene Peroxidation is the common industrial process to produce Phenol, major players are eyeing on advanced Cumene production technologies. Recently, European PKN Orlen’s announcement to use the Honeywell’s UOP Q-Max and Phenol 3G technology, to convert Orlen’s Benzene and Propylene into high-quality Cumene at low Benzene-to-Propylene ratios using regenerable catalysts is an example of early adoption of technology to gain first-mover advantage in the market. Furthermore, the key manufacturers operating in the downstream BPA markets are expanding their business through mergers and acquisitions creating lucrative opportunities for the growth of market over the next six years. These dynamics and developments in downstream industries would hugely impact Phenol demand pushing it to unprecedented levels during the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Market over-supply, plant turnarounds and disrupted supply-chains are some of the challenges lying before the dynamic Phenol industry. Hence, it becomes crucial to understand what impact these changes will have on the businesses and various stakeholders across the value-chain.
Source: ChemAnalyst
Global Hydrogen Peroxide Market Expected to Cross 11 Million Tonnes by 2030
According to ChemAnalyst report, “Global Hydrogen Peroxide Market: Plant Capacity, Production, Demand & Supply, Concentration, Grade, End Use, Sales Channel, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Hydrogen Peroxide market is expected to grow at a healthy CAGR of 5.1% during the forecast period on account of robust rise in demand from Paper and Pulp industry backed by unprecedented surge in Hydrogen Peroxide consumption for manufacturing disinfectants utilized primarily in food processing, packaging and healthcare industries. Demand for Hydrogen Peroxide has witnessed a remarkable jump in double-digits during the current scenario of pandemic coronavirus and subsequent rise in awareness among people for hygiene and improved sanitation is further likely to propel the demand in the future.
Browse the Complete Report: https://www.chemanalyst.com/industry-report/hydrogen-peroxide-market-54
Pulp and Paper Industry accounts for the highest Hydrogen Peroxide Demand market share owing to its popular application as a strong bleaching agent and for recycling applications. While on one hand, the digital revolution has reduced the overall demand for printing paper, population growth and rising people’s awareness towards maintaining personal hygiene has pushed up the production of hygienic paper goods such as diapers and tissue paper. Players anticipate a significant rise in the demand for paper and board from packaging sector, further fueled by the soaring e-commerce industry and a change in people’s food consumption habits.
Chemical Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Other major application of Hydrogen Peroxide contributing to its impressive CAGR is its use in disinfectant chemicals. Owing to its remarkable anti-bacterial properties, Hydrogen Peroxide is one of the chemicals flashing on headlines these days as the health experts across several countries battle to contain the spread of novel coronavirus which sparked in the Wuhan province of China and soon infected 210 countries across the globe. Governments across several countries, in their unprecedented efforts to control contagion, are opting to spray Hydrogen Peroxide based surface disinfectants in high-risk public areas, such as in hospitals, care homes, banks and other essential services. Researchers of the US National Institutes of Health have recently reported the use of vaporized Hydrogen Peroxide to decontaminate medical-use respirators which can then be reused up to three times without affecting the equipment’s performance. Moreover, researchers and medical centers across the globe are also testing the chemical to decontaminate N95 masks, to combat the potential shortages considering the soaring masks demand during the pandemic. The global Hydrogen Peroxide market report has recorded a rise of about 11 per cent in the global Hydrogen Peroxide demand, by volume, in-line with strong gains in the chemical’s demand outlook since the outbreak of Covid-19.
Evonik Industries AG, Solvay S.A., Arkema S.A., FMC Corporation, Mitsubishi Gas Chemical Company, Santoku Chemical Industries Co., Ltd., Nouryon, Kemira Oyj, Hansol Chemical Co. Ltd., Chang Chun Petrochemical Co., Ltd, OCI COMPANY Ltd., National Peroxide Limited etc., are some of the leading players operating in the Global Hydrogen Peroxide market. Anticipating strong boost in the global Hydrogen Peroxide market, several companies are looking forward to capacity expansions and acquisitions to get a strong foothold in the Hydrogen Peroxide industry. Recently, companies like Mitsubishi Gas Chemical Company, National Peroxide Limited etc. have gone for capacity additions in Hydrogen Peroxide business. While the former has added around 70 KT in United States market, National Peroxide has added around 55 KT in India. Moreover, Mitsubishi Gas Chemical Company has planned to invest $156 million to construct a production facility for industrial Hydrogen Peroxide (IHP) in Taiwan. Evonik’s acquisition of PeroxyChem LLC is yet another big venture into global Hydrogen Peroxide business.
Regionally, Hydrogen Peroxide market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, “Global Hydrogen Peroxide Market: Plant Capacity, Production, Demand & Supply, Concentration, Grade, End Use, Sales Channel, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Asia-Pacific region is the leading region in terms of global Hydrogen Peroxide demand during 2015-2019 and is likely to lead the market during the forecast period. This is attributed to the strong growth in region’s paper consumption, textile production, healthcare and personal care industries. North America and Europe are in league of leading regions generating huge volume demand for the product with huge capital investments in the sector.
“The global demand for Hydrogen Peroxide is strongly driven by industrial growth in the pulp and paper industry and consumption in the disinfectant chemicals industry. Owing to the huge population base and industrial expansions, regions like APAC are experiencing rapid growth in their paper demand and hence house wider scope for Hydrogen Peroxide market growth. Moreover, as healthcare industry eyes on vaporized Hydrogen Peroxide (VHP) for disinfecting used masks, the global Hydrogen Peroxide industry is anticipating a major shift in its demand patterns. However, players believe that lower shelf-life of industrially utilized Hydrogen Peroxide is on of the key reasons that may hinder the growth of global Hydrogen Peroxide market. New players venturing into investment in the cleaning chemicals and pulp and paper sector would help underpin the success of the Hydrogen Peroxide market for the next 6 years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Global Acetone Market is Anticipated to Grow at CAGR of 9.3% by
2030
According to ChemAnalyst report, “Global Acetone Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2030”, the global Acetone market is expected to grow at an astounding CAGR of 9.3% during the forecast period. Principal demand for Acetone is from the solvents industry representing about 30% of the global demand, followed by Methyl Methacrylate (MMA) and Bisphenol A (BPA) manufacturing. It is anticipated that the global Acetone demand will be led by downstream Bisphenol A sector by 2030.
Browse the Complete Report: https://www.chemanalyst.com/industry-report/acetone-market-66
However, at the start of 2020, ChemAnalyst report has recorded a spike in Acetone demand globally, considering the effects of novel coronavirus in the current fiscal. Acetone demand has strengthened since the outbreak of pandemic as the commodity stands out amid dwindling petrochemical market. During the pandemic, Acetone market has become eye-catching due to its exceptionally rising demand for manufacturing Iso Propyl Alcohol (IPA). Demand for IPA has skyrocketed due its principal consumption in hand sanitizers and other disinfectants products whose sales have drastically gone up. As a result, the US Department of Homeland Security declared INEOS Acetonitrile, IPA and Acetone as “Critical to ensure National Resilience”. Triggered by surge in global demand, IPA spot FOB US Gulf prices have been assessed to fly at all time high between USD 1,370 to USD 4,190/tonne in April 2020, triggering a surge of 15% in global Acetone prices since March 2020.
Chemical Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
According to the report, INEOS Group, Cepsa Corporation, Kumho shell, PTTGC., Formosa Chemicals and Fibre Corporation., Taiwan Prosperity Chemical Corp (TPCC)., Deepak Nitrite Ltd., LG Chem, Mitsui Chemicals Inc., DOW Chemicals, SABIC Innovative Plastics, Shell are some of the leading players operating in the Global Acetone market. Cumene peroxidation is the common process used for Acetone production with almost 90% share in the Acetone produced globally followed by dehydrogenation of isopropanol and other processes. Rise in the industrial production of Cumene with new plant capacities coming up by 2023 will further lead to rise in global Phenol demand.
The ChemAnalyst report analyzes that Asia Pacific region led by China is contributing to the largest Acetone market share in 2019 and is forecasted to experience the fastest growth rate of more than 6 per cent in the forecast period. This is attributed to strong growth in the country’s Bisphenol A and polycarbonate sectors with rigorous addition of Phenol and Acetone capacities to ensure reduced dependency over imports and make the economy self-reliable. Also, eyeing on increased demand for Acetone based downstream products in the second quarter, Indian players are also expecting a sharp spike in Phenol and Acetone demand which is likely to propel growth of these products in Asia Pacific market.
“Acetone market players are optimistic as the industry projects robust growth due to its increased consumption as a solvent in paints and adhesives, pharmaceutical, cosmetics and industrial sector. As major countries like the U.S. and India are imposing anti-dumping duties on Acetone imports from South Korea and China, key players are ramping up their domestic capacities to strengthen their domestic presence. Moreover, rising plant capacities and strategic investments in the sector would help underpin the success of the Acetone market for the next 6 years. Major companies are rigorously investing in the setting up Cumene production units. In Q3 2020, INEOS Phenol broke grounds to set its world-scale Cumene production unit in Germany. The new unit is scheduled to be completed in 2021 and will contribute about 750 KT of global Cumene demand. Furthermore, the key manufacturers operating in the downstream BPA and MMA markets are expanding their business through mergers and acquisitions creating wider opportunities for the growth of Acetone demand over the next six years. Acetone over-capacities and disrupted supply-chains, are some of the threats that are lying before the dynamic Acetone industry, and hence its becomes crucial to understand what impact these changes will have on the value chain to know the global Acetone value chain.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Browse the Complete Report: https://www.chemanalyst.com/industry-report/acetone-market-66
However, at the start of 2020, ChemAnalyst report has recorded a spike in Acetone demand globally, considering the effects of novel coronavirus in the current fiscal. Acetone demand has strengthened since the outbreak of pandemic as the commodity stands out amid dwindling petrochemical market. During the pandemic, Acetone market has become eye-catching due to its exceptionally rising demand for manufacturing Iso Propyl Alcohol (IPA). Demand for IPA has skyrocketed due its principal consumption in hand sanitizers and other disinfectants products whose sales have drastically gone up. As a result, the US Department of Homeland Security declared INEOS Acetonitrile, IPA and Acetone as “Critical to ensure National Resilience”. Triggered by surge in global demand, IPA spot FOB US Gulf prices have been assessed to fly at all time high between USD 1,370 to USD 4,190/tonne in April 2020, triggering a surge of 15% in global Acetone prices since March 2020.
Chemical Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
According to the report, INEOS Group, Cepsa Corporation, Kumho shell, PTTGC., Formosa Chemicals and Fibre Corporation., Taiwan Prosperity Chemical Corp (TPCC)., Deepak Nitrite Ltd., LG Chem, Mitsui Chemicals Inc., DOW Chemicals, SABIC Innovative Plastics, Shell are some of the leading players operating in the Global Acetone market. Cumene peroxidation is the common process used for Acetone production with almost 90% share in the Acetone produced globally followed by dehydrogenation of isopropanol and other processes. Rise in the industrial production of Cumene with new plant capacities coming up by 2023 will further lead to rise in global Phenol demand.
The ChemAnalyst report analyzes that Asia Pacific region led by China is contributing to the largest Acetone market share in 2019 and is forecasted to experience the fastest growth rate of more than 6 per cent in the forecast period. This is attributed to strong growth in the country’s Bisphenol A and polycarbonate sectors with rigorous addition of Phenol and Acetone capacities to ensure reduced dependency over imports and make the economy self-reliable. Also, eyeing on increased demand for Acetone based downstream products in the second quarter, Indian players are also expecting a sharp spike in Phenol and Acetone demand which is likely to propel growth of these products in Asia Pacific market.
“Acetone market players are optimistic as the industry projects robust growth due to its increased consumption as a solvent in paints and adhesives, pharmaceutical, cosmetics and industrial sector. As major countries like the U.S. and India are imposing anti-dumping duties on Acetone imports from South Korea and China, key players are ramping up their domestic capacities to strengthen their domestic presence. Moreover, rising plant capacities and strategic investments in the sector would help underpin the success of the Acetone market for the next 6 years. Major companies are rigorously investing in the setting up Cumene production units. In Q3 2020, INEOS Phenol broke grounds to set its world-scale Cumene production unit in Germany. The new unit is scheduled to be completed in 2021 and will contribute about 750 KT of global Cumene demand. Furthermore, the key manufacturers operating in the downstream BPA and MMA markets are expanding their business through mergers and acquisitions creating wider opportunities for the growth of Acetone demand over the next six years. Acetone over-capacities and disrupted supply-chains, are some of the threats that are lying before the dynamic Acetone industry, and hence its becomes crucial to understand what impact these changes will have on the value chain to know the global Acetone value chain.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Global Iso Propyl Alcohol Market is Expected to Cross 4.9 Million Tonnes by 2030
According to ChemAnalyst report, “Global Iso Propyl Alcohol Market - Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Iso Propyl Alcohol market is expected to grow at a healthy CAGR of 6.87% during the forecast period. Rising demand for solvents across end use industries such as paints and coatings and pharmaceuticals backed by surge in demand for disinfectants, which include hand sanitizers, surface cleaners and other hygiene products would bolster the demand for Iso Propyl Alcohol during the forecast period.
Browse the Complete Report: https://www.chemanalyst.com/industry-report/iso-propyl-alcohol-ipa-market-35
The outbreak of COVID-19 has been a tipping point in the global IPA market, making it one of the most demanded chemicals during the period of unprecedented crisis. This happened after WHO declared the use of alcohol-based hand sanitizers, essential for inactivating potentially harmful coronavirus whose transmission rate is still creating a havoc in several economies. Centre for Disease Control (CDC) has recommended the use of alcohol-based sanitizers containing 60% ethanol or 70% isopropanol in homes, offices, hospitals, and other public places. Since the declaration, alcohol -based hand sanitizers have become the most sought-after product in the global markets forcing several chemical manufacturers to enter Iso Propanol and hand sanitizer production in their fight against Covid-19.
Chemical Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
International prices of Iso Propyl Alcohol (IPA) have skyrocketed in the first quarter of 2020 triggered by overwhelming demand for manufacturing hand sanitizers. U.S.IPA which was showing a nominal price rise in February, soared rapidly with number of coronavirus cases in U.S. surpassing the world’s other economies. In March, recorded IPA spot prices were in the range of $1,367-1,874/tonne while export and spot prices are even higher. Other regions like Europe and Asia have witnessed more than 100 per cent spike in IPA prices in the first quarter in response to the soaring demand. IPA prices are anticipated to climb higher in the coming weeks as new companies are planning venture into sanitizer manufacturing, causing a further upward pressure on the global IPA demand.
The Dow Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., LG Chem Ltd., Royal Dutch Shell Plc., Clariant AG, Honeywell International Inc., JXTG Nippon Oil & Energy Corporation, Mitsui Chemicals Inc., United States Petroleum & Chemical Corporation, INEOS Enterprises, Deepak Fertilizers and Petrochemicals Corporation Limited etc., are some of the leading players operating in the Global Iso Propyl Alcohol market. To combat the unabated IPA demand, major players increased their production capacities to grapple with the rising demand. Exxon Mobil ramped up its IPA production capacities in final quarter of FY20. Moreover, INEOS, one of leading chemical manufacturers in the global market has been running its IPA plants at full capacities with establishments of new sanitizer plants in France and Germany.
Regionally, the Iso Propyl Alcohol market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, “Global Iso Propyl Alcohol Market - Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, APAC is the global manufacturing hub for IPA, with expanding pharmaceutical sector and petrochemical hubs. China and India are contributing in huge volumes to cater to rising global IPA demand. North America and Europe are also likely to drive the market appreciably well concerned by lasting effects of Coronavirus. New capacity additions as well as expansion are expected to consolidate considerable revenues to the global IPA market, thus contributing well towards uplifting the economies of the major IPA producing countries.
“IPA production can happen through three routes, viz., indirect hydration of Propylene, direct hydration of Propylene and catalytic hydrogenation of Acetone. APAC countries like China and India are opportunistic of the current situation and are currently running both their acetone and propylene to IPA plants at their full capacities. However, major players in U.S. believe that when the markets are restored and the pandemic passes, acetone route would be preferred over longer runs. Moreover, increasing awareness among people for maintaining personal hygiene and preventive measures towards Covid-19 will dominantly drive the global IPA demand in the forecast period. At the same time, the manufacturers would have to be thorough with raw material and supply chain analysis to enjoy better margins. Company’s long-term strategies to strengthen both upstream and downstream sectors would hugely impact the global IPA demand pushing it to unprecedented levels during the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Global Methanol Market Demand Is Anticipated to Cross 155 Million Tonnes by 2030
According to ChemAnalyst report, “Global Methanol Market: Plant Capacity, Production, Operating Efficiency, Process, Technology, Demand & Supply, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Methanol market is expected to grow at a healthy CAGR of 5.5% during the forecast period on account of increasing demand for Methanol-based fuels such as Neat Fuels, High Blends, Low Blends, etc. during the forecast period. In addition, Methanol is an essential ingredient being used in countless industrial and consumer products such as construction material, resins, plastics, paints, polyester and a variety of health and pharmaceutical products.
One of the key applications of Methanol is its increased consumption for manufacturing biodiesel, which is biodegradable and safer fuel than other fuels. For producing biodiesel, Methanol acts as a crucial reagent for transesterification of vegetable oils, greases, or animal fats, creating Fatty Acid Methyl Esters (FAMEs). Government initiatives to reduce global carbon footprint by adoption of Methanol blended fuels and investments in biodiesel production are anticipated to propel the Methanol market growth during the forecast period.
Browse the Complete Report: https://www.chemanalyst.com/industry-report/methanol-market-63
However, the Global Methanol demand witnessed a sharp decline, almost by 7 per cent compared to the fourth quarter of 2019 due to the impacts from COVID-19 pandemic hammered by sudden crash in crude oil. Decline in demand from fuel-related applications also escalated due to government restrictions, which limited ground transportation and sudden halt in industrial operations. Unplanned plant outages in different parts of the world further lowered Methanol to olefin (MTO) demand. Methanol production remained disrupted throughout the first quarter due to various plant turnarounds in North America, the Middle East, Southeast Asia and particularly in China. One of the leading global players, Methanex Corporation indefinitely idled its Titan plant located in Trinidad and Chile IV plant in mid-March, in response to lower Methanol demand causing a significant reduction in the production volumes in Q1 FY20.
Chemical Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
International prices of Methanol recorded several years low in Q1 2020. A major player has recorded a price decline of 13% to $310 per tonne, with its Asia Pacific price decreasing by 13% to $225 per tonne in the month of May. The companies are striving to partially offset the decline in Methanol prices by cutting their operating rates by 30%. However, April Methanol prices have firmed up in some of the economies which have managed to limit the rate of COVID-19 infection such as China and India. East China’s ex-tank Methanol prices were higher by USD 7 per MT by the second week of April.
Although market outlook for 2020 doesn’t seem promising for Methanol manufacturers, players anticipate that the global Methanol industry is forecasted to follow the path of the global economy. Recovery in Methanol demand is expected as soon as the international market stabilizes and demand picks-up following the growth in end user industries. Key manufacturers are eyeing on improvement in their cost structures and sense downward movement in their operating costs matching a sharp decline in the natural gas prices. Also, lower logistics costs, primarily due to falling crude oil prices would benefit the major players shipping the commodity to other countries.
Methanex Corporation, Methanol Holdings Trinidad Limited, SABIC, Zagros Petrochemical Co., Yankaung Group Private Limited, OCI Beaumont, Petronas Chemical Group, Mitsubishi Gas Chemical Company, Mitsubishi (MSK) etc., are some of the leading players operating in the Global Methanol market.
Regionally, the Methanol market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, “Global Methanol Market: Plant Capacity, Production, Operating Efficiency, Process, Technology, Demand & Supply, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Asia Pacific is expected to witness fastest growth in the overall Methanol market owing to its magnanimously expanding petrochemical industry backed by increased usage of Methanol-blended fuel in countries like China, India, and Japan. Asian Methanol players are optimistic as China, which is the world’s largest consumer of Methanol is heavily investing in expanding its Methanol capacities. Moreover, increased Chinese investments in the MTO sector has further propelled the Asia Pacific’s Methanol market growth.
“Due to uncertainties in the Methanol market amid pandemic, Methanol market players are planning to incorporate production cuts and maintain a demand and supply balance in the market. Majority of companies have gone for planned shutdowns and lower capex to recover from losses due to demand slowdown. More than 80% of Methanol produced in North America and Europe is from natural gas. It appears that thorough raw material and supply chain analysis would help the manufacturers to extract benefits from the gloomy industrial outlook. Methanol demand is continuously growing as a clean burning and alternative economic fuel. Today, Biodiesel industry is increasing by leaps and bounds and creating a strong foothold in the current marketplace and emerging as a leading player in the global fuels industry. Long-term strategies to strengthen both upstream and downstream sectors would hugely impact the Methanol demand pushing it to unprecedented levels during the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Global Benzene Market to Grow at a CAGR of 4.5% by 2030
According to ChemAnalyst report, “Global Benzene Market: Plant Capacity, Production, End Use, Sales Channel, Region, Operating Efficiency, Demand & Supply, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Benzene market is projected to grow at a CAGR of 4.5% during the forecast period on account of robust rise in demand for styrene polymers from various end-user industries such as textile, packaging, building & construction, etc. backed by rise in demand for cumene for manufacturing phenol and acetone.
Browse the Complete Report: https://www.chemanalyst.com/industry-report/benzene-market-56
Sudden outbreak of novel coronavirus has exacerbated a sharp decline in 2020 Benzene demand, forecasted to dip by almost 2 per cent globally. Benzene margins are curtailed on both demand and supply side due to indefinite halt in industrial activities because of COVID-19. However, as situation in anticipated to improve with time, Benzene demand would recover during the forecast period picking up speed after 2022. Benzene serves as a key raw material for several downstream products used in a variety of consumer applications. Styrene value chain accounts for about more than 40% share in the global Benzene demand market share owing to popular application of its derivatives in automobiles, paints & coatings, foams and films. Growing consumption from food packaging sector has simultaneously increased downstream demand for polystyrene (PS) and expandable Polystyrene (EPS). Although, demand for food packaging and medical products is still appreciable, a collapse in consumption of fuel from the hard-hit transportation sector has further weighed over the Benzene demand. In addition, growth in demand of other derivatives like acrylonitrile-butadiene-styrene, polycarbonate etc. would also support the global Benzene demand during the forecast period.
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Pressured crude values due to coronavirus pandemic, eventually resulting in OPEC and Russia price war and crude supply glut have contributed to lower prices in downstream markets. Global Benzene prices were further hammered due to poor demand from end user industries such as automotive and aerospace due to undue halt in economic activities. April Benzene contract prices plunged 11-year low to around $410 per tonne, witnessing a drop of over 50% from March, as crude values continued to weigh heavily on spot Benzene prices. However, Asia’s Benzene market turned towards recovery in early May, due to firmer crude and demand pick up after China resumed industrial operations post a successful battle against novel coronavirus. FOB Korea Benzene prices rose approximately by $24/ tonne in the first week of May 2020.
Royal Dutch Shell Plc., China National Petroleum Corporation (Sinopec), Saudi Basic Industries Corporation, ExxonMobil Corporation, JX Holdings, Inc., GS Caltex, Haldia Petrochemicals Limited, Reliance Industries Limited, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited etc., are some of the leading players operating in the Global Benzene market. Several companies are looking forward to capacity expansions and technological advancements to get a strong foothold in the global Benzene industry. Recently, China’s CNOOC Huizhou Petrochemical Company Limited (CHPCL) has opted for Axens’ ParamaX Technology Suite for expanding its high-purity aromatics production capacity to 3 million tonnes per year. Axens’ second generation, ParamaX Suite of technologies would enable CHPCL to ensure cost-effective production of Benzene and para and mixed xylenes from aromatic-rich reformate and pyrolyzed gasoline.
Regionally, the global Benzene market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, “Global Benzene Market: Plant Capacity, Production, End Use, Sales Channel, Region, Operating Efficiency, Demand & Supply, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Asia-Pacific region is the leading region in terms of global Benzene demand during 2015-2019 and is likely to lead the market during the forecast period. This is strongly attributed to huge expansion and technological investments in the petrochemical sector of countries like Japan, India and China. Moreover, China being the biggest ABS market in the world signals a strong surge in its Benzene-derivatives demand in the forecast period despite substantial slowdown in its economy.
“APAC region is anticipated to strongly drive the global Benzene demand during the forecast period. This would be supported by China’s increasing appetite for chemicals and expansion of its inter-regional and international trade flows during the forcat period. Moreover, markets in India and China offer a vast potential to styrene monomer (SM) volumes which holds a significant portion of global Benzene demand. However, Benzene & its derivatives are strongly exposed to the fluctuations in crude oil market. Sudden crash in crude prices has squeezed the margins of global Benzene players and hence near-term price outlook seems bearish till crude oil prices recover to their pre-pandemic levels. Increased players venturing into investments in the Polystyrene and Benzene derivatives sector would help Asia’s aromatics industry dash towards a new growth in the next 6 years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Browse the Complete Report: https://www.chemanalyst.com/industry-report/benzene-market-56
Sudden outbreak of novel coronavirus has exacerbated a sharp decline in 2020 Benzene demand, forecasted to dip by almost 2 per cent globally. Benzene margins are curtailed on both demand and supply side due to indefinite halt in industrial activities because of COVID-19. However, as situation in anticipated to improve with time, Benzene demand would recover during the forecast period picking up speed after 2022. Benzene serves as a key raw material for several downstream products used in a variety of consumer applications. Styrene value chain accounts for about more than 40% share in the global Benzene demand market share owing to popular application of its derivatives in automobiles, paints & coatings, foams and films. Growing consumption from food packaging sector has simultaneously increased downstream demand for polystyrene (PS) and expandable Polystyrene (EPS). Although, demand for food packaging and medical products is still appreciable, a collapse in consumption of fuel from the hard-hit transportation sector has further weighed over the Benzene demand. In addition, growth in demand of other derivatives like acrylonitrile-butadiene-styrene, polycarbonate etc. would also support the global Benzene demand during the forecast period.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Pressured crude values due to coronavirus pandemic, eventually resulting in OPEC and Russia price war and crude supply glut have contributed to lower prices in downstream markets. Global Benzene prices were further hammered due to poor demand from end user industries such as automotive and aerospace due to undue halt in economic activities. April Benzene contract prices plunged 11-year low to around $410 per tonne, witnessing a drop of over 50% from March, as crude values continued to weigh heavily on spot Benzene prices. However, Asia’s Benzene market turned towards recovery in early May, due to firmer crude and demand pick up after China resumed industrial operations post a successful battle against novel coronavirus. FOB Korea Benzene prices rose approximately by $24/ tonne in the first week of May 2020.
Royal Dutch Shell Plc., China National Petroleum Corporation (Sinopec), Saudi Basic Industries Corporation, ExxonMobil Corporation, JX Holdings, Inc., GS Caltex, Haldia Petrochemicals Limited, Reliance Industries Limited, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited etc., are some of the leading players operating in the Global Benzene market. Several companies are looking forward to capacity expansions and technological advancements to get a strong foothold in the global Benzene industry. Recently, China’s CNOOC Huizhou Petrochemical Company Limited (CHPCL) has opted for Axens’ ParamaX Technology Suite for expanding its high-purity aromatics production capacity to 3 million tonnes per year. Axens’ second generation, ParamaX Suite of technologies would enable CHPCL to ensure cost-effective production of Benzene and para and mixed xylenes from aromatic-rich reformate and pyrolyzed gasoline.
Regionally, the global Benzene market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, “Global Benzene Market: Plant Capacity, Production, End Use, Sales Channel, Region, Operating Efficiency, Demand & Supply, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Asia-Pacific region is the leading region in terms of global Benzene demand during 2015-2019 and is likely to lead the market during the forecast period. This is strongly attributed to huge expansion and technological investments in the petrochemical sector of countries like Japan, India and China. Moreover, China being the biggest ABS market in the world signals a strong surge in its Benzene-derivatives demand in the forecast period despite substantial slowdown in its economy.
“APAC region is anticipated to strongly drive the global Benzene demand during the forecast period. This would be supported by China’s increasing appetite for chemicals and expansion of its inter-regional and international trade flows during the forcat period. Moreover, markets in India and China offer a vast potential to styrene monomer (SM) volumes which holds a significant portion of global Benzene demand. However, Benzene & its derivatives are strongly exposed to the fluctuations in crude oil market. Sudden crash in crude prices has squeezed the margins of global Benzene players and hence near-term price outlook seems bearish till crude oil prices recover to their pre-pandemic levels. Increased players venturing into investments in the Polystyrene and Benzene derivatives sector would help Asia’s aromatics industry dash towards a new growth in the next 6 years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Global Cumene Demand to Reach 9 Million Tonne by 2030
According to ChemAnalyst report, “Global Cumene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Cumene market is projected to grow at a healthy CAGR of 4.03% during the forecast period on account of robust rise in Cumene demand for manufacturing Phenol and Acetone which can be further processed to produce resins, paints & coatings, plastics or construction materials. Increase in demand for phenol in downstream Bisphenol A (BPA) sector, driven by strong growth in the polycarbonate production across the globe to bolster the demand for Cumene during the forecast period.
Browse the Complete Report : https://www.chemanalyst.com/industry-report/cumene-market-55
Acetone and Phenol production accounts for about 95% share in the global Cumene demand with Phenol leading the market share. Moreover, exceptionally rising Acetone demand globally for manufacturing Iso Propyl Alcohol (IPA), a key ingredient in alcohol-based hand sanitizers has further contributed to spike in Cumene demand during the current scenario of COVID-19 pandemic. Furthermore, increasing use of solvents in diverse industries such as paints and adhesives, pharmaceuticals and cosmetics will further drive the Cumene demand during the forecast period globally. Other application of Cumene include its potential to be used as a blending component due to its high-octane number.
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According to ChemAnalyst report, UOP technology is the most sought-after technology for the industrial production of Cumene, with many companies investing in advanced formulations of the traditional technique. Recently, PKN Orlen announced to utilize Honeywell’s UOP Q-Max and Phenol 3G technology for converting Orlen’s benzene and propylene into high-quality Cumene at low benzene-to-propylene ratios using regenerable catalysts. In addition, leading producers like INEOS are investing heavily in future expansion projects to contribute to the global Cumene demand in the forecast period. In 2019, INEOS signed agreement with Evonik Chemiepark, to build a new Cumene unit having capacity of 750KTPA. Major players in the global Cumene market include CEPSA, INEOS Phenol, Sunoco Inc., Georgia Gulf, Flint Hills Resources, Koch Petroleum, Shell Chemical, Mitsui Chemicals, Chang Chun Group, Citgo Petroleum Corporation, Deepak Nitrite Limited etc.
Global economic slowdown caused due to Covid-19 has strongly impacted Cumene international prices in 2019 causing them to dip sharply. In addition, the ChemAnalyst report analyzes the impact of feedstock benzene and refinery crude propylene (RGP) on Cumene’s pricing trend. Slump in crude values and Cumene feedstocks, have pressurized global Cumene contract prices in Q1 2020. US Cumene prices plummeted by 43% in April 2020, hovering between $380-398/tonne over the previous month. The prices recorded 11 years lows tracing benzene and propylene values, drastically hit due to crude price crash from the ongoing coronavirus crisis. Global Cumene prices are expected to head towards recovery after the feedstock prices match pre-Covid-19 levels with reopening of economies around the world which would eventually push crude prices higher.
Regionally, the Cumene market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, Asia-Pacific has witnessed a strong boost in Cumene demand over recent years, outpacing slow growth in North American and European markets. Huge investments in construction of bigger phenol and acetone capacities in Asia-Pacific will cause this trend to continue in the future. APAC is expected to account for 42.26% of global Cumene demand by 2020.
“The global Cumene market is currently surplus in capacity and sluggish demand for its derivatives and weakened upstream values have almost halted the global Cumene production. However, players are optimistic and anticipating huge benefits after the shutdown of Philadelphia Energy Solutions which took place 2019 due to a major fire accident. The refinery's Cumene unit which had a capacity of 612,000 KT made approximately $1 million impact on AdvanSix’s quarterly sales. At the same time, this opened a wider opportunity for its competitors and exporters who are counting on profits as soon as the economies head towards recovery. Major players are currently optimizing the logistics and enhancing the network of Cumene suppliers to recover the losses incurred due to pandemic.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Browse the Complete Report : https://www.chemanalyst.com/industry-report/cumene-market-55
Acetone and Phenol production accounts for about 95% share in the global Cumene demand with Phenol leading the market share. Moreover, exceptionally rising Acetone demand globally for manufacturing Iso Propyl Alcohol (IPA), a key ingredient in alcohol-based hand sanitizers has further contributed to spike in Cumene demand during the current scenario of COVID-19 pandemic. Furthermore, increasing use of solvents in diverse industries such as paints and adhesives, pharmaceuticals and cosmetics will further drive the Cumene demand during the forecast period globally. Other application of Cumene include its potential to be used as a blending component due to its high-octane number.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
According to ChemAnalyst report, UOP technology is the most sought-after technology for the industrial production of Cumene, with many companies investing in advanced formulations of the traditional technique. Recently, PKN Orlen announced to utilize Honeywell’s UOP Q-Max and Phenol 3G technology for converting Orlen’s benzene and propylene into high-quality Cumene at low benzene-to-propylene ratios using regenerable catalysts. In addition, leading producers like INEOS are investing heavily in future expansion projects to contribute to the global Cumene demand in the forecast period. In 2019, INEOS signed agreement with Evonik Chemiepark, to build a new Cumene unit having capacity of 750KTPA. Major players in the global Cumene market include CEPSA, INEOS Phenol, Sunoco Inc., Georgia Gulf, Flint Hills Resources, Koch Petroleum, Shell Chemical, Mitsui Chemicals, Chang Chun Group, Citgo Petroleum Corporation, Deepak Nitrite Limited etc.
Global economic slowdown caused due to Covid-19 has strongly impacted Cumene international prices in 2019 causing them to dip sharply. In addition, the ChemAnalyst report analyzes the impact of feedstock benzene and refinery crude propylene (RGP) on Cumene’s pricing trend. Slump in crude values and Cumene feedstocks, have pressurized global Cumene contract prices in Q1 2020. US Cumene prices plummeted by 43% in April 2020, hovering between $380-398/tonne over the previous month. The prices recorded 11 years lows tracing benzene and propylene values, drastically hit due to crude price crash from the ongoing coronavirus crisis. Global Cumene prices are expected to head towards recovery after the feedstock prices match pre-Covid-19 levels with reopening of economies around the world which would eventually push crude prices higher.
Regionally, the Cumene market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, Asia-Pacific has witnessed a strong boost in Cumene demand over recent years, outpacing slow growth in North American and European markets. Huge investments in construction of bigger phenol and acetone capacities in Asia-Pacific will cause this trend to continue in the future. APAC is expected to account for 42.26% of global Cumene demand by 2020.
“The global Cumene market is currently surplus in capacity and sluggish demand for its derivatives and weakened upstream values have almost halted the global Cumene production. However, players are optimistic and anticipating huge benefits after the shutdown of Philadelphia Energy Solutions which took place 2019 due to a major fire accident. The refinery's Cumene unit which had a capacity of 612,000 KT made approximately $1 million impact on AdvanSix’s quarterly sales. At the same time, this opened a wider opportunity for its competitors and exporters who are counting on profits as soon as the economies head towards recovery. Major players are currently optimizing the logistics and enhancing the network of Cumene suppliers to recover the losses incurred due to pandemic.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
India Diisopropyl Ether Market Demand Is Anticipated to Grow at a CAGR of 6.4% by 2030
According to ChemAnalyst report, “India Diisopropyl Ether Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India Diisopropyl Ether (commonly called DIPE) market is expected to grow at a healthy CAGR of 6.4% during the forecast period on account of its growing demand as a solvent in pharmaceutical industry. Moreover, the growth is supported by the fact that DIPE imparts excellent fuel properties and hence is popularly used as a high-octane gasoline blending stock.
Browse the Complete Report: https://www.chemanalyst.com/industry-report/india-diisopropyl-ether-market-52
Ethers are sulfur-free compounds and are widely preferred over alcohols as gasoline components. This is because octane numbers of ethers like MTBE, DIPE and ETBE are high, and hence they find popular usage as octane boosters in gasoline. Increased DIPE compatibility with current car and fuel distribution chain will drive the growth of Diisopropyl Ether in the forecast period. In addition, growing use of DIPE as an extraction solvent in the pharmaceutical industry for producing specific active ingredients, resins, and coatings, will boost the consumption of Diisopropyl Ether as a solvent in Indian market.
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According to ChemAnalyst report, “India Diisopropyl Ether Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Diisopropyl Ether is commercially produced as a byproduct during the production of isopropanol (IPA) by hydration of propene. As there are no major players operating currently in the India Diisopropyl Ether market, majority of country’s DIPE demand is being met through imports. In 2017, Deepak Fertilizers announced the construction of a DIPE manufacturing unit at its Taloja plant having production capacity of about 70,000 tonnes per annum. The plant is expected to come onstream by 2021. Major players operating in the domestic DIPE market are ExxonMobil, Haike Group, JX Nippon Oil & Energy, Xinhua Chemical, Changzhou Puhua, Novacap and INEOS (Sasol).
Outbreak of novel coronavirus rendered slightly negative impact to the country’s already pressured Diisopropyl Ether industry. Supply chain disruption and logistic restrictions forced local suppliers and distributors to sell their remaining DIPE volumes at higher prices in the final quarter of FY20. However, it is anticipated that India will soon occupy a supreme and efficient position in the DIPE market with more nationwide investments in the downstream paints and pharmaceutical industries. Although 2020 doesn’t seem promising for Diisopropyl Ether traders and suppliers in India but recovery in demand is expected as soon as the trade flows improve and demand pick-ups following growth in downstream sectors and end user industries. Moreover, increasing investments in the Indian pharmaceutical industry are also likely to support the demand of Diisopropyl Ether in the years to come.
“India’s Diisopropyl Ether market will grow appreciably during the forecast period as large downstream-derivatives capacities are stated to come on stream by 2022. Key players eyeing on economic and strategic incentives for setting up IPA and DIPE production facilities in their refineries. Indian government is strongly promoting the use of safer alternatives like ethanol and methanol to meet the oxygenate requirement for fuel blending and phase out the use of Methyl Tertiary Butyl Ether (MTBE), Ethyl Tertiary Butyl Ether (ETBE) and Diisopropyl Ether (DIPE) due to their toxic nature. This is likely to weigh over India’s total DIPE demand in the forecast period. However, increasing use of pharma grade DIPE for pharmaceutical and personal care applications such as manufacturing liniments, analgesics and perfumes is likely to increase the demand for Diisopropyl Ether in years to come. DIPE’s growing use as an extractive solvent and in the crystallisation process of active pharmaceutical ingredients, will propel its demand by the end-use segments. With India strongly heading towards self-reliance in its chemicals and petrochemicals needs and investing heavily in expanding its paints and pharmaceutical sectors, the Diisopropyl Ether sector is augmented to emerge stronger by 2030.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
India’s PET Demand to Outshine and Register a CAGR of 6.75% by 2030
According to ChemAnalyst report, “India Polyethylene Terephthalate (PET) Resin Market: Plant Capacity, Production, Technology, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. India PET demand is anticipated to grow at a healthy CAGR of over 6.75% in the forecast period highly influenced by the enormous demand for PET packaging bottles in medical and healthcare industry. PET is a thermoplastic resin, belonging to the polyester family, utilizing Mono Ethylene Glycol (MEG) and Purified Terephthalic Acid (PTA) as feedstocks. In India, PET has turned out to be the profound preference in the packaging industry owing to its eco-friendly and recyclable along with the strength it offers. In addition, increasing preference for PET in pharmaceutical industry over aluminum and glass packaging due to the superior hygiene and quality standard is further anticipated to bolster the demand for PET resin in the coming years.
Browse the Complete Report: India Polyethylene Terephthalate (PET) Resin Pricing
Food and Beverages industry constitutes over 50 per cent of the total demand for PET manufactured in India. As PET is one of the highly recyclable plastic products, government initiatives to push out the use of single-use plastics by 2022 amid concerns of perverse environmental outcomes has indirectly shifted the industries to engage in the use of recyclable plastic such as PET, hence, contributing widely to uptrend its demand.
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Outbreak of Coronavirus in Q4 of FY 20 has slowed down the business in various industrial sectors as an outcome of lockdown and other preventive measures imposed by the government to contain the spread of the virus. However, Plastic, Pharmaceutical and Specialty Chemicals are among the few leveraged sectors witnessing an outshine in tough times of the crises. Rising awareness over hygiene and cleanliness has led to increased demand for packaged food and beverages as to avoid any chances of infection by contagion. Moreover, astonishing stress on the expansion of the Indian healthcare sector after Coronavirus Outbreak has also propelled the demand for PET bottles for storage of critical drugs and fluids, owing to the safety offered in handling coupled with its hygienic properties. Although the beginning of the final quarter witnessed a gradual slump in the production of PET due to halt in industrial activities put up in compliance to the preventive measures of Coronavirus. The demand witnessed appreciable recovery after mid-April 2020 affected by the ease in lockdown measures offered by the government in hopes of restoring the persistent sunk in economy. As the country is still struggling to bounce back from the devastating industrial downturn, domestic manufactures of PET are currently operating PET plants at less than 30 per cent efficiency owing to the reduced demand from automotive and electronic industry. However, the dilemma over complete abatement of Coronavirus in the country is likely to boost the demand for PET in the coming years as a result of shift in demand from aluminum and glass to plastic products. Government initiative of self-reliant India is also anticipated to play a major role in bracing the domestic PET market as the manufacturers will not be compelled to mark the prices of the product in line with the import prices in order to avoid material injury.
According to ChemAnalyst report, “India Polyethylene Terephthalate (PET) Resin Market: Plant Capacity, Production, Technology, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. Major players operating in the India PET market include Reliance Industries Limited, Dhunseri Petrochem & Tea Limited, JBF Industries Limited and Indorama Ventures Public Company Limited. As imports catering to a significant share of the total demand of PET in India, other companies satisfying the demand for PET in the country are , Toray Industries, Jiangsu Sanfangxiang Group, Eastman Chemical Company, Nan Ya Plastic Corporation, SABIC, BASF SE ,Far Eastern New Century Corporation etc. Reliance Industry is the largest domestic player with the maximum installed capacity 1000KTPA for PET production. As India already comprises of abundant installed capacity of PET, there are no proposed plans by any company to further expand the capacity in the next five years. With massive production of PET in India, the country also serves to fulfill the export demand from countries like Algeria, Egypt, Bangladesh, etc. With the current scenario of Coronavirus, domestic manufactures are anticipated to operate over 60% efficiency on negligible import and robust demand from packaging industry in the coming years.
“The recent initiative of Indian government for self-reliant India, has raised strong concerns over the chemical sector of India as it is highly dependent on imports of various feedstocks from European and Gulf Countries. However, plastic industry is expected to be one the most leveraged industries as majority of its products and feedstock account for appreciable production in the country. As MEG and PTA are produced in abundance within the country, the production of PET in India will not be hindered and will remain out of the risk even in the forecast period. This initiative can be a silver lining for the domestic manufacturers eyeing to widen their profit margins by catering to a high scale demand. As people across the globe are improvising their hygiene practices, they are keener to rely on packaged products to reduce risk of infection. In India, since PET is majorly consumed in the packaging industry, the demand for PET will continue to boom at a significant rate in the next five years .In addition to this, the increasing requirement for PET bottles from pharmaceutical and healthcare industry for storage of drugs and sanitizers is likely to drive the market growth in the forecast period. However, demand from other major industries like electronics and automotive will remain weak on slow economic growth and decline in per capita income of people as companies have been struck by strong financial slump as a ripple effect of Covid-19.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Browse the Complete Report: India Polyethylene Terephthalate (PET) Resin Pricing
Food and Beverages industry constitutes over 50 per cent of the total demand for PET manufactured in India. As PET is one of the highly recyclable plastic products, government initiatives to push out the use of single-use plastics by 2022 amid concerns of perverse environmental outcomes has indirectly shifted the industries to engage in the use of recyclable plastic such as PET, hence, contributing widely to uptrend its demand.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Outbreak of Coronavirus in Q4 of FY 20 has slowed down the business in various industrial sectors as an outcome of lockdown and other preventive measures imposed by the government to contain the spread of the virus. However, Plastic, Pharmaceutical and Specialty Chemicals are among the few leveraged sectors witnessing an outshine in tough times of the crises. Rising awareness over hygiene and cleanliness has led to increased demand for packaged food and beverages as to avoid any chances of infection by contagion. Moreover, astonishing stress on the expansion of the Indian healthcare sector after Coronavirus Outbreak has also propelled the demand for PET bottles for storage of critical drugs and fluids, owing to the safety offered in handling coupled with its hygienic properties. Although the beginning of the final quarter witnessed a gradual slump in the production of PET due to halt in industrial activities put up in compliance to the preventive measures of Coronavirus. The demand witnessed appreciable recovery after mid-April 2020 affected by the ease in lockdown measures offered by the government in hopes of restoring the persistent sunk in economy. As the country is still struggling to bounce back from the devastating industrial downturn, domestic manufactures of PET are currently operating PET plants at less than 30 per cent efficiency owing to the reduced demand from automotive and electronic industry. However, the dilemma over complete abatement of Coronavirus in the country is likely to boost the demand for PET in the coming years as a result of shift in demand from aluminum and glass to plastic products. Government initiative of self-reliant India is also anticipated to play a major role in bracing the domestic PET market as the manufacturers will not be compelled to mark the prices of the product in line with the import prices in order to avoid material injury.
According to ChemAnalyst report, “India Polyethylene Terephthalate (PET) Resin Market: Plant Capacity, Production, Technology, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. Major players operating in the India PET market include Reliance Industries Limited, Dhunseri Petrochem & Tea Limited, JBF Industries Limited and Indorama Ventures Public Company Limited. As imports catering to a significant share of the total demand of PET in India, other companies satisfying the demand for PET in the country are , Toray Industries, Jiangsu Sanfangxiang Group, Eastman Chemical Company, Nan Ya Plastic Corporation, SABIC, BASF SE ,Far Eastern New Century Corporation etc. Reliance Industry is the largest domestic player with the maximum installed capacity 1000KTPA for PET production. As India already comprises of abundant installed capacity of PET, there are no proposed plans by any company to further expand the capacity in the next five years. With massive production of PET in India, the country also serves to fulfill the export demand from countries like Algeria, Egypt, Bangladesh, etc. With the current scenario of Coronavirus, domestic manufactures are anticipated to operate over 60% efficiency on negligible import and robust demand from packaging industry in the coming years.
“The recent initiative of Indian government for self-reliant India, has raised strong concerns over the chemical sector of India as it is highly dependent on imports of various feedstocks from European and Gulf Countries. However, plastic industry is expected to be one the most leveraged industries as majority of its products and feedstock account for appreciable production in the country. As MEG and PTA are produced in abundance within the country, the production of PET in India will not be hindered and will remain out of the risk even in the forecast period. This initiative can be a silver lining for the domestic manufacturers eyeing to widen their profit margins by catering to a high scale demand. As people across the globe are improvising their hygiene practices, they are keener to rely on packaged products to reduce risk of infection. In India, since PET is majorly consumed in the packaging industry, the demand for PET will continue to boom at a significant rate in the next five years .In addition to this, the increasing requirement for PET bottles from pharmaceutical and healthcare industry for storage of drugs and sanitizers is likely to drive the market growth in the forecast period. However, demand from other major industries like electronics and automotive will remain weak on slow economic growth and decline in per capita income of people as companies have been struck by strong financial slump as a ripple effect of Covid-19.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
India’s Polystyrene Demand is Projected to Achieve a CAGR 5.5% by 2030
According to ChemAnalyst report, “India Polystyrene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India’s Polystyrene market is expected to grow at a healthy CAGR of 5.5% during the forecast period due to increasing Polystyrene utilization in food packaging applications and take-away containers backed by country’s strongly growing restaurant food chains and expansion of FMCG sector. Moreover, increasing Indian government initiatives like Make in India scheme and continuous investments in expanding the country’s ACE (Appliances and Consumer Electronics) industry are likely to propel the Polystyrene demand during the forecast period.
Browse the Complete Report : India Polystyrene (PS) Price
Polystyrene (PS) is a thermoplastic known to possess excellent electrical and mechanical properties. Because of its easy processability, Polystyrene finds varied applications from thin-film packaging to electronic goods. Packaging is one of the key uses of polystyrene which holds a significant share (about 25%) in the country’s overall Polystyrene demand. The report has segmented the India’s Polystyrene market into two types-General-Purpose Polystyrene (GPPS) and High-Impact Polystyrene (HIPS). Both being FDA complaint, are widely used in the food packaging sector. General purpose PS is a low-cost, completely transparent, and rigid Polystyrene, commonly used for manufacturing disposable utensils, cutleries and various other consumer durables. In addition, GPPS which had been traditionally used in CD cases is now being popularly used in manufacturing ubiquitous jewelry boxes and food storage containers. HIPS is more expensive than GPPS and on the other hand, highly impact resistant and not naturally clear or transparent. Due to its easy processability, FDA compliance and matte finish, HIPS is a preferred material for thermoforming and is commonly used in food processing applications such as yogurt cups. Moreover, increasing demand from the refrigerator liner sheets which are commonly formed from HIPS core layer is likely to drive the Polystyrene market during the forecast period.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
According to ChemAnalyst report, “India Polystyrene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India’s domestic capacity is sufficient to cater to its Polystyrene demand. However, India imports huge volumes of the feedstock Styrene Monomer from Singapore, U.S., Korea and Taiwan. Domestic players operating in India Polystyrene market are Supreme Petrochem Limited, LG Polymers India Private Limited and INEOS Styrolution India Limited with Supreme Petrochem dominating the market with more than 50 per cent share. BASF, SABIC, Dow Inc., NOVA Chemicals Corporation, Styrochem, Formosa Chemical & Fibre Corp and Kumho Petrochemical are some of the leading international players operating in the India Polystyrene market. With key players planning to expand their installed PS capacities and huge investments in the country’s strongly growing FMCG sector, the demand for Polystyrene is likely to spur in the forecast period.
However, sudden outbreak of COVID-19 has rendered a significant disruption in the India Polystyrene demand supply patterns, triggered by indefinite halt in manufacturing activities in the several downstream factories. Although Polystyrene demand in Q4 FY20, has witnessed an overall decline, some sectors like food and medical packaging supported in keeping afloat the overall industrial performance to some extent. Moreover, lack of transportation and trade disruptions not only affected the exported cargoes but also pressurized the volumes of Styrene monomer which is majorly imported from Singapore, U.S., Korea and Taiwan. Already threatened by the demand downturn, the domestic PS industry also suffered a major setback after a massive styrene gas leak incident from the Vizag plant of the country’s second largest Polystyrene manufacturer, LG Polymers India. The incident which took place in the month of May in Q1FY21, has left the 118 KTPA PS plant non-operational for indefinite period till further approval by the Indian government, thereby impacting the country’s overall PS production. However, with ease in lockdown restrictions, players are anticipating that massive restaurants would prefer utilizing high quality disposable cutlery and crockery in the wake of maintain social distancing. This is likely to accelerate the demand for Polystyrene in the next three quarters. Moreover, with massive expansion of the food packaging sector on the cards, the PS demand is likely to spur in the forecast period.
“Indefinite plant turnarounds have rendered a significant fall in the domestic Polystyrene market in Q4 FY20 with significant implications being felt even in the Q1 FY21. Although the PS industry faced demand downturn from other major end users, the packaging sector emerged as a major savior projecting its huge growth potential in the next five years. As India is totally dependent on imports for feedstock Styrene Monomer, weak Styrene due to sudden crash in upstream crude and Benzene values is likely to bring good days to the domestic manufacturers who are constantly finding ways to combat the injury caused to the industry since the onset of the pandemic. Styrene imports had risen by 25% to 852 KT last year, from 679 KT due to growing demand for PS for light packaging applications in sectors like food delivery, e-commerce, and several consumer products. However, the Indian government is planning to impose a 15% “COVID-19” tax on some imported petrochemicals, which if implemented on the Styrene monomer imports, might cause a huge damage to the PS industry. Amid these uncertainties in the global and India Polystyrene market, it has become extremely crucial for the domestic players to efficiently direct their inventories and ensure protection from undue dumping of goods from the international players after trade disruptions ease as economies head towards recovery. It is also crucial for market leaders to trace the movements of their competitors and estimate what impact these changes will have on the country’s domestic business. With downstream FMCG players planning for huge investments in the Indian subcontinent, the demand for Polystyrene will accelerate with a greater pace in the next 2-3 years. ” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
India’s Acrylonitrile Butadiene Styrene (ABS) Demand to Grow at a CAGR of 6.45% by 2030
According to ChemAnalyst report, “India Acrylonitrile Butadiene Styrene (ABS) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. The demand for ABS is expected to achieve a healthy CAGR of 6.45% in the forecast period influenced by the enhanced demand for medical equipment and medical inhalers in the healthcare industry on increasing requirements for medical facilities after the Coronavirus outbreak. Acrylonitrile Butadiene Styrene (ABS) is a thermoplastic copolymer utilizing Acrylonitrile, Butadiene and Styrene as feedstocks. High thermal and electrical insulation properties observed in ABS makes it a profound choice for production of plastic used in the electrical and electronic industry. Consequently, increasing utilization of ABS in the manufacturing of various appliances in the rapidly expanding Asian electronic sector is also perceived to provide a significant hike in demand for ABS in the coming years.
Browse the Complete Report : India Acrylonitrile Butadiene Styrene (ABS) Price
The implementation of the new vehicle safety legislation Act in April 2019 considerably pushed the demand for ABS in the automotive industry being utilized in the manufacturing of plastic required for braking system and various other parts. Moreover, Bharat Stage VI emission norms demanding producing of BS VI fuel compatible vehicles also contributed well towards the growth of ABS in the automotive industry.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Outbreak of Coronavirus in the final quarter of FY 20 has led to an astonishing downtrend in the demand for ABS as major end-user industries of the product were compelled to halt the production in compliance to the measures put up by the government to contain the virus. Even after the ease in restrictions several automotive companies did not resume the production while the others operated their plants at severely low rates to reduce inventory build-up and refrain revenues in times of reduced demand. However, the hard-hit demand for ABS from the automotive sector was brought back to stable grounds by the rise in demand for medical inhalers and medical equipment requiring ABS due to its superior strength and insulation properties. The demand for ABS from the healthcare sector is anticipated to prosper at an appreciable rate on increasing requirement for advanced healthcare facilities till a proper vaccine is attained for the complete abatement of the virus. Moreover, persistent demand for ABS from electrical and electronic sector in manufacturing of various appliances like air conditioners, refrigerators and geysers is likely to uphold the demand for ABS in tough times of Global Pandemic. The supply chain disruption incurred during the outbreak initially pushed up the demand for the product in the first half of Q4 as reduced supply of electronic component from China proved to be a silver lining for the Indian electronic manufacturers eyeing to widen their profit margins by enhancing their production of electronic goods and thereby, leading to a surge in demand for its highly demanded polymer, ABS. As India is primarily inclined towards imports for the availability of ABS feedstocks comprising Styrene and Acrylonitrile, the production eventually became stagnant in the later half of the final quarter. The lingered demand for ABS in anticipated to recover at a prominent rate by the end of FY 21 as the country is keener to rely on the domestic manufacturing of various chemical feedstocks and products in response to the government initiative of self-reliant India. This initiative will enhance the domestic consumption of ABS and bolster the growth of Indian ABS market as manufacturers will not be forced to set the domestic prices in line with the prices of the ABS imported from other countries.
According to ChemAnalyst report,” “India Acrylonitrile Butadiene Styrene (ABS) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. Major players operating in the India ABS Market include Bhansali Engineering Polymers, INEOS Styrolution, LG Chemical, Saudi Basic Industries Corporation (SABIC) , Lotte Chemical Corporation, Toray Industries Incorporation, Chi Mei Corporation, Samsung SDI Chemical, Formosa Plastic Group, China National Petroleum Corporation, The Dow Chemical Company, JSR Corporation etc. The renowned Indian manufacturers, Bhansali Engineering Polymers and INEOS Styrolution satisfy more than 75% of the domestic demand. Whereas the remaining demand for ABS is catered through cheap imports from China and South Korea. Thus, the idea of self-reliant India prompts huge potential for the two domestic manufacturers to expand their revenue share. Owing to the abundant installed capacity of 360KTA of ABS, India is largely involved in the exportation of ABS to West, especially Europe. The India ABS market beingly highly inclined over electrical and electronic sectors is expected to witness an incredible surge on enhanced stress over the domestic production of electronic components and appliances.
“ As ABS in one of the highly desired polymers in industries requiring material of prominent strength, durability and insulation, the demand for ABS is likely to spur in the coming years on elevated stress over expanding the domestic manufacturing facilities in various industries in compliance to the government initiative of self-reliant India. However, till the country establishes ground-breaking facilities for manufacturing of largely imported chemicals, the ABS Market may face indefinite challenges as it is highly reliant on imports of its raw materials. Emphasizing the continuous growth and advances being made in the Indian chemical industry, struggle for availability of raw material for manufacturing of end-products is likely to be exempted by the end of FY 21. The outbreak of global Pandemic in the final quarter of FY 20 has caused a sudden downturn in the global demand for ABS. The downturn is an effect of the significant fall in automotive sector due to lockdown imposed by various countries in wake of the Coronavirus spread. The lockdown has led to a record fall in economies followed by devastating industrial fallout. However, several industries like pharmaceuticals, healthcare, specialty chemicals and polymers have flourished and consolidated high revenues. Consequently, ABS demand from healthcare industry observed a significant increment as it is widely utilized in the manufacturing of medical inhalers and equipment. Although the demand for ABS from electronic and electronic sector did not witness high records in Q4 of 2020 , it is likely to remain the major consuming segment for ABS in the forecast period owing to the levied stress on domestic manufacturing by the Indian government.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Browse the Complete Report : India Acrylonitrile Butadiene Styrene (ABS) Price
The implementation of the new vehicle safety legislation Act in April 2019 considerably pushed the demand for ABS in the automotive industry being utilized in the manufacturing of plastic required for braking system and various other parts. Moreover, Bharat Stage VI emission norms demanding producing of BS VI fuel compatible vehicles also contributed well towards the growth of ABS in the automotive industry.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Outbreak of Coronavirus in the final quarter of FY 20 has led to an astonishing downtrend in the demand for ABS as major end-user industries of the product were compelled to halt the production in compliance to the measures put up by the government to contain the virus. Even after the ease in restrictions several automotive companies did not resume the production while the others operated their plants at severely low rates to reduce inventory build-up and refrain revenues in times of reduced demand. However, the hard-hit demand for ABS from the automotive sector was brought back to stable grounds by the rise in demand for medical inhalers and medical equipment requiring ABS due to its superior strength and insulation properties. The demand for ABS from the healthcare sector is anticipated to prosper at an appreciable rate on increasing requirement for advanced healthcare facilities till a proper vaccine is attained for the complete abatement of the virus. Moreover, persistent demand for ABS from electrical and electronic sector in manufacturing of various appliances like air conditioners, refrigerators and geysers is likely to uphold the demand for ABS in tough times of Global Pandemic. The supply chain disruption incurred during the outbreak initially pushed up the demand for the product in the first half of Q4 as reduced supply of electronic component from China proved to be a silver lining for the Indian electronic manufacturers eyeing to widen their profit margins by enhancing their production of electronic goods and thereby, leading to a surge in demand for its highly demanded polymer, ABS. As India is primarily inclined towards imports for the availability of ABS feedstocks comprising Styrene and Acrylonitrile, the production eventually became stagnant in the later half of the final quarter. The lingered demand for ABS in anticipated to recover at a prominent rate by the end of FY 21 as the country is keener to rely on the domestic manufacturing of various chemical feedstocks and products in response to the government initiative of self-reliant India. This initiative will enhance the domestic consumption of ABS and bolster the growth of Indian ABS market as manufacturers will not be forced to set the domestic prices in line with the prices of the ABS imported from other countries.
According to ChemAnalyst report,” “India Acrylonitrile Butadiene Styrene (ABS) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. Major players operating in the India ABS Market include Bhansali Engineering Polymers, INEOS Styrolution, LG Chemical, Saudi Basic Industries Corporation (SABIC) , Lotte Chemical Corporation, Toray Industries Incorporation, Chi Mei Corporation, Samsung SDI Chemical, Formosa Plastic Group, China National Petroleum Corporation, The Dow Chemical Company, JSR Corporation etc. The renowned Indian manufacturers, Bhansali Engineering Polymers and INEOS Styrolution satisfy more than 75% of the domestic demand. Whereas the remaining demand for ABS is catered through cheap imports from China and South Korea. Thus, the idea of self-reliant India prompts huge potential for the two domestic manufacturers to expand their revenue share. Owing to the abundant installed capacity of 360KTA of ABS, India is largely involved in the exportation of ABS to West, especially Europe. The India ABS market beingly highly inclined over electrical and electronic sectors is expected to witness an incredible surge on enhanced stress over the domestic production of electronic components and appliances.
“ As ABS in one of the highly desired polymers in industries requiring material of prominent strength, durability and insulation, the demand for ABS is likely to spur in the coming years on elevated stress over expanding the domestic manufacturing facilities in various industries in compliance to the government initiative of self-reliant India. However, till the country establishes ground-breaking facilities for manufacturing of largely imported chemicals, the ABS Market may face indefinite challenges as it is highly reliant on imports of its raw materials. Emphasizing the continuous growth and advances being made in the Indian chemical industry, struggle for availability of raw material for manufacturing of end-products is likely to be exempted by the end of FY 21. The outbreak of global Pandemic in the final quarter of FY 20 has caused a sudden downturn in the global demand for ABS. The downturn is an effect of the significant fall in automotive sector due to lockdown imposed by various countries in wake of the Coronavirus spread. The lockdown has led to a record fall in economies followed by devastating industrial fallout. However, several industries like pharmaceuticals, healthcare, specialty chemicals and polymers have flourished and consolidated high revenues. Consequently, ABS demand from healthcare industry observed a significant increment as it is widely utilized in the manufacturing of medical inhalers and equipment. Although the demand for ABS from electronic and electronic sector did not witness high records in Q4 of 2020 , it is likely to remain the major consuming segment for ABS in the forecast period owing to the levied stress on domestic manufacturing by the Indian government.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
India High-Density Polyethylene (HDPE) Market to Grow at a CAGR of 7.25% by 2030
According to ChemAnalyst report, “India High Density Polyethylene (HDPE): Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India High Density Polyethylene (HDPE) market is anticipated to grow at a healthy CAGR of 7.25% during the forecast period due to rising demand for HDPE pipes from the country’s developing agriculture sector further strengthened by Indian government’s initiatives towards adapting sustainable agricultural practices. Moreover, strong demand for HDPE specially formulated Blow Molding grade for manufacturing medical products, amid rising health consciousness will drive the HDPE demand during the forecast period.
Browse Complete Report : India High Density Polyethylene (HDPE) Price, News and Analysis
HDPE is a relatively stiff polyethylene and possesses useful thermal characteristics with high recycling rate. HDPE containers and woven sacks hold more than 40% share in the domestic high-density polyethylene demand. Due to its desirable properties, HDPE is preferably used for manufacturing cereal box liners, shipping containers, bottles for non-food items, such as shampoo, liquid laundry detergent, household cleaners etc. Increasing demand for liquid detergent and positive transformation in India’s FMCG market is likely to accelerate demand for HDPE containers in the forecast period.
Among all other grades, the Blow Molding grade holds the largest market share due to its desirable characteristics such as high tensile strength and temperature resistance. These attributes make Blow Molded HDPE increasingly preferred in manufacturing bottles used in dairy, medical applications, water, and other packaging sectors. HDPE Pipe Grade is potentially the strongest growing grade in the forecast period owing to its remarkable corrosion resistance. Rising applications for Pipe Grade HDPE in agriculture sector for transporting water and developing channels for drainage and irrigation, will drive the HDPE demand in the forecast period. Moreover, government initiatives like Pradhan Mantri Krishi Sinchai Yojana (PMKSY) towards the development of irrigation sources in agricultural fields will augment the growth in demand of Pipe Grade HDPE.
Outbreak of novel coronavirus caused indefinite halt in country’s production activities and demand downturn hard hit the overall HDPE prices in the final quarter of FY20. HDPE Blow Molding grade price hovered between $965-$968 per MT while that of Pipe grade remained around $1020 per MT in the final quarter of 2020. However, with ease in lockdown restrictions and hope of quick economic recovery, there has been a quite optimism among the domestic HDPE players. With local manufacturers starting to scale up their plant operating efficiencies from 45 per cent in March to 80 per cent in May, the industry is all set towards recover the incurred losses. In addition, a significant surge in demand for HDPE could be observed after central government procured huge volumes of HDPE bags to combat the shortage of gunny bags to procure and distribute wheat stocks for addressing food security issues amid lockdown.
According to ChemAnalyst report, ““India High Density Polyethylene (HDPE): Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, key players operating in High Density Polyethylene (HDPE) market are Haldia Petrochemicals Ltd., ONGC Petro additions Ltd., Reliance Industries Limited, Indian Oil Corporation Limited, GAIL India Limited, HPCL-Mittal Energy Limited, Brahmaputra Cracker and Polymers Limited, etc. Huge capacity expansion plans and technological investments will drive the HDPE market growth in India in the years to come. HPCL-Mittal Energy Ltd (HMEL) received environmental clearance in FY19 for addition of polymer unit at its Guru Gobind Singh refinery and Petrochemical complex. The proposed unit will tentatively complete by April 2021 and would house two LLDPE/HDPE swing plants of capacity 400 KTPA each, a 500 KTPA PP plant, a 450 KTPA HDPE unit and a 55 KTPA butane-1 line. Dow, INEOS, SABIC and LyondellBasell Industries Holdings B.V. are some of the international players operating in the India HDPE market.
“As the government of India is strenuously promoting its “Make in India” strategy, with its keen focus on expansion of sectors like agriculture, MSMEs, healthcare and infrastructure, the demand for several grades of HDPE is likely to grow by leaps and bounds. Under the Union Budget 2020-21, the country’s FMCG sector is expected to achieve tremendous growth in the forecast period which will create a vast growth potential for HDPE Blow Molding grade. Moreover, growing awareness for wellness products and changing lifestyles are the key growth drivers for the consumer goods sector. With stronger expansion of country’s agriculture sector and Indian government’s strenuous efforts to enhance surplus water availability in the agricultural fields by encouraging farmers to make use of advanced irrigation technologies, a strong boost in demand for HDPE pipes is expected. Moreover, domestic refiners actively planning to expand their polyolefins footprints and increasing Foreign Direct Investments (FDI) will drive the growth of HDPE market in the years to come. HDPE being a crucial part of the industrial value chain, indicates a consistent growth potential in the polyethylene industry in the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
Browse Complete Report : India High Density Polyethylene (HDPE) Price, News and Analysis
HDPE is a relatively stiff polyethylene and possesses useful thermal characteristics with high recycling rate. HDPE containers and woven sacks hold more than 40% share in the domestic high-density polyethylene demand. Due to its desirable properties, HDPE is preferably used for manufacturing cereal box liners, shipping containers, bottles for non-food items, such as shampoo, liquid laundry detergent, household cleaners etc. Increasing demand for liquid detergent and positive transformation in India’s FMCG market is likely to accelerate demand for HDPE containers in the forecast period.
Among all other grades, the Blow Molding grade holds the largest market share due to its desirable characteristics such as high tensile strength and temperature resistance. These attributes make Blow Molded HDPE increasingly preferred in manufacturing bottles used in dairy, medical applications, water, and other packaging sectors. HDPE Pipe Grade is potentially the strongest growing grade in the forecast period owing to its remarkable corrosion resistance. Rising applications for Pipe Grade HDPE in agriculture sector for transporting water and developing channels for drainage and irrigation, will drive the HDPE demand in the forecast period. Moreover, government initiatives like Pradhan Mantri Krishi Sinchai Yojana (PMKSY) towards the development of irrigation sources in agricultural fields will augment the growth in demand of Pipe Grade HDPE.
Outbreak of novel coronavirus caused indefinite halt in country’s production activities and demand downturn hard hit the overall HDPE prices in the final quarter of FY20. HDPE Blow Molding grade price hovered between $965-$968 per MT while that of Pipe grade remained around $1020 per MT in the final quarter of 2020. However, with ease in lockdown restrictions and hope of quick economic recovery, there has been a quite optimism among the domestic HDPE players. With local manufacturers starting to scale up their plant operating efficiencies from 45 per cent in March to 80 per cent in May, the industry is all set towards recover the incurred losses. In addition, a significant surge in demand for HDPE could be observed after central government procured huge volumes of HDPE bags to combat the shortage of gunny bags to procure and distribute wheat stocks for addressing food security issues amid lockdown.
According to ChemAnalyst report, ““India High Density Polyethylene (HDPE): Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, key players operating in High Density Polyethylene (HDPE) market are Haldia Petrochemicals Ltd., ONGC Petro additions Ltd., Reliance Industries Limited, Indian Oil Corporation Limited, GAIL India Limited, HPCL-Mittal Energy Limited, Brahmaputra Cracker and Polymers Limited, etc. Huge capacity expansion plans and technological investments will drive the HDPE market growth in India in the years to come. HPCL-Mittal Energy Ltd (HMEL) received environmental clearance in FY19 for addition of polymer unit at its Guru Gobind Singh refinery and Petrochemical complex. The proposed unit will tentatively complete by April 2021 and would house two LLDPE/HDPE swing plants of capacity 400 KTPA each, a 500 KTPA PP plant, a 450 KTPA HDPE unit and a 55 KTPA butane-1 line. Dow, INEOS, SABIC and LyondellBasell Industries Holdings B.V. are some of the international players operating in the India HDPE market.
“As the government of India is strenuously promoting its “Make in India” strategy, with its keen focus on expansion of sectors like agriculture, MSMEs, healthcare and infrastructure, the demand for several grades of HDPE is likely to grow by leaps and bounds. Under the Union Budget 2020-21, the country’s FMCG sector is expected to achieve tremendous growth in the forecast period which will create a vast growth potential for HDPE Blow Molding grade. Moreover, growing awareness for wellness products and changing lifestyles are the key growth drivers for the consumer goods sector. With stronger expansion of country’s agriculture sector and Indian government’s strenuous efforts to enhance surplus water availability in the agricultural fields by encouraging farmers to make use of advanced irrigation technologies, a strong boost in demand for HDPE pipes is expected. Moreover, domestic refiners actively planning to expand their polyolefins footprints and increasing Foreign Direct Investments (FDI) will drive the growth of HDPE market in the years to come. HDPE being a crucial part of the industrial value chain, indicates a consistent growth potential in the polyethylene industry in the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
India Polypropylene (PP) Market to Grow at a CAGR of 8.51% by 2030
According to ChemAnalyst report, “India Polypropylene Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India Polypropylene (PP) market is anticipated to grow aggressively at a CAGR of 8.51% during the forecast period due to increased PP consumption as a raw material in the country’s rapidly expanding healthcare sector and growing demand for recyclable Biaxially Oriented Polypropylene (BOPP) films for flexible packaging of food and non-food products driven by the booming FMCG sector.
Browse Complete Report : Polypropylene (PP) Market in India
Flexible Packaging and Injection Molding grade account for the largest market share in the India Polypropylene market, driven by increased packaged food penetration and strong boost in the e-commerce and organized retail sectors in India. Rising demand for Polypropylene for manufacturing highly durable and cost-effective BOPP films for flexible packaging applications will provide a substantial spur to the country’s Polypropylene market demand in the forecast period. Due to its desirable characteristics, domestic manufacturers are continuously researching on Cast film Polypropylene to increase shelf-life of meat and other food products containing high fatty acids. Moreover, improved characteristics such as high resistance to cleaning agents, disinfectants, and various other chemicals have made Polypropylene a desirable choice for medical applications. Use of Polypropylene in the downstream medical sector for manufacturing syringes, surgical trays, inhalers, and several instrument parts has tremendously boosted the PP market growth in India.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Also, Polypropylene has emerged as a material of choice for manufacturing Personal Protective Equipment (PPE) kits which have been strongly recommended by the World Health Organization for medical personnel who are fighting on the frontlines in the country’s battle against COVID-19. Moreover, during the pandemic, there has been a significant shift in the demand from the Raffia grade to Fibre-grade PP, a key raw material for manufacturing surgical masks. Rising health consciousness among people of India backed by the government’s huge investments towards making India self-reliant for manufacturing PPE kits will significantly drive India’s Polypropylene market in the forecast period.
Currently, India’s Polypropylene demand is being met through both domestic production as well as imports. However, outbreak of novel coronavirus rendered a sharp decline in the PP imported volumes which remained hard hit due to trade disruptions as several counties announced force majeure to contain the spread of the pandemic. Indefinite halt in industrial activities eventually leading to demand downturn hard hit the PP prices which remained under pressure in the final quarter of FY20. Most domestic PP producers tried operating their plants at curtailed rates or temporarily shut their units to deal with swelling inventories. Indian producers like OPAL and Reliance which targeted the export market, remained anxious as logistics remained disturbed under lockdown restrictions. Polypropylene CFR prices in India witnessed a decline by $20 per tonne and hovered between $930-960 per tonne in India in Q4FY20 amid COVID-19 related uncertainties. However, with downstream sectors resuming production activities and ease in lockdown restrictions, prices are likely to show an uptrend by the Q2FY21.
According to ChemAnalyst report, “India Polypropylene Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, major players operating in India polypropylene market are Reliance Industries Limited, Indian Oil Corporation Limited, HPCL-Mittal Energy Limited, Haldia Petrochemicals Limited, ONGC Petro Additions Limited, Mangalore Refinery and Petrochemicals Limited, Brahmaputra Cracker and Polymers Limited. Exxon Mobil Corporation, LyondellBasell Industries and Sinopec are some of the global players operating in the India PP Industry. Huge investments and capacity expansion plans by the key players like RIL, IOCL and OPAL are likely to give a strong boost to the domestic Polypropylene sector in the next five years. One such undergoing project is HPCL Rajasthan Refinery Ltd’s (HRRL’s) 181,000-bpd integrated refinery and petrochemical complex, which is under construction in the Barmer District, Rajasthan. The refinery will house two 490 KTPA Polypropylene units each, thereby contributing significant volumes to the domestic PP industry. Moreover, latest technological investments in the country’s Polypropylene sector such as adoption of LyondellBasell’s fifth generation Spheripol polypropylene process technology by HPCL-Mittal Energy Limited (HMEL) and advanced Novolen technology contract awarded to McDermott International by Chennai Petrochemical Ltd. were some of the highlights in FY20.
“A number of green field expansions in the packaging sector followed by strong boost in the FMCG sector will render a strong impetus to India Polypropylene market in the forecast period. After experiencing major blows due to COVID-19 in the Q4 FY20, players are eyeing on recovery of Polypropylene downstream sectors. Although PP demand from the packaging sector remained quite satisfactory even during the cold waves of coronavirus, the unprecedented slump in the automotive industry weighed over the industry’s annual performance in FY20. However, with recovery in demand and collapse in feedstock prices, players are anticipating enhanced EBITDA margins and efficient capacity utilization in the current fiscal. Packaging sector will offer a vast potential to the India Polypropylene industry, considering rising low packaged food penetration in India and increase in personal disposable income. Moreover, increased investments by the organized retail industries and transition from rigid to flexible packaging will further improve the demand outlook. In addition, domestic manufacturers are also anticipating skyrocketing demand for non-woven Polypropylene, which finds primary usage in face masks after the pandemic. Global demand for polypropylene is forecasted to grow to 120 MMT by 2030. Hence, Indian players are planning to expand their reach to the international market along with ensuring a strong foothold in the domestic industry. These factors, further assisted by increased penetration of Polypropylene in industrial value chains are likely to push PP market to unmatched levels in the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source : ChemAnalyst
Browse Complete Report : Polypropylene (PP) Market in India
Flexible Packaging and Injection Molding grade account for the largest market share in the India Polypropylene market, driven by increased packaged food penetration and strong boost in the e-commerce and organized retail sectors in India. Rising demand for Polypropylene for manufacturing highly durable and cost-effective BOPP films for flexible packaging applications will provide a substantial spur to the country’s Polypropylene market demand in the forecast period. Due to its desirable characteristics, domestic manufacturers are continuously researching on Cast film Polypropylene to increase shelf-life of meat and other food products containing high fatty acids. Moreover, improved characteristics such as high resistance to cleaning agents, disinfectants, and various other chemicals have made Polypropylene a desirable choice for medical applications. Use of Polypropylene in the downstream medical sector for manufacturing syringes, surgical trays, inhalers, and several instrument parts has tremendously boosted the PP market growth in India.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Also, Polypropylene has emerged as a material of choice for manufacturing Personal Protective Equipment (PPE) kits which have been strongly recommended by the World Health Organization for medical personnel who are fighting on the frontlines in the country’s battle against COVID-19. Moreover, during the pandemic, there has been a significant shift in the demand from the Raffia grade to Fibre-grade PP, a key raw material for manufacturing surgical masks. Rising health consciousness among people of India backed by the government’s huge investments towards making India self-reliant for manufacturing PPE kits will significantly drive India’s Polypropylene market in the forecast period.
Currently, India’s Polypropylene demand is being met through both domestic production as well as imports. However, outbreak of novel coronavirus rendered a sharp decline in the PP imported volumes which remained hard hit due to trade disruptions as several counties announced force majeure to contain the spread of the pandemic. Indefinite halt in industrial activities eventually leading to demand downturn hard hit the PP prices which remained under pressure in the final quarter of FY20. Most domestic PP producers tried operating their plants at curtailed rates or temporarily shut their units to deal with swelling inventories. Indian producers like OPAL and Reliance which targeted the export market, remained anxious as logistics remained disturbed under lockdown restrictions. Polypropylene CFR prices in India witnessed a decline by $20 per tonne and hovered between $930-960 per tonne in India in Q4FY20 amid COVID-19 related uncertainties. However, with downstream sectors resuming production activities and ease in lockdown restrictions, prices are likely to show an uptrend by the Q2FY21.
According to ChemAnalyst report, “India Polypropylene Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, major players operating in India polypropylene market are Reliance Industries Limited, Indian Oil Corporation Limited, HPCL-Mittal Energy Limited, Haldia Petrochemicals Limited, ONGC Petro Additions Limited, Mangalore Refinery and Petrochemicals Limited, Brahmaputra Cracker and Polymers Limited. Exxon Mobil Corporation, LyondellBasell Industries and Sinopec are some of the global players operating in the India PP Industry. Huge investments and capacity expansion plans by the key players like RIL, IOCL and OPAL are likely to give a strong boost to the domestic Polypropylene sector in the next five years. One such undergoing project is HPCL Rajasthan Refinery Ltd’s (HRRL’s) 181,000-bpd integrated refinery and petrochemical complex, which is under construction in the Barmer District, Rajasthan. The refinery will house two 490 KTPA Polypropylene units each, thereby contributing significant volumes to the domestic PP industry. Moreover, latest technological investments in the country’s Polypropylene sector such as adoption of LyondellBasell’s fifth generation Spheripol polypropylene process technology by HPCL-Mittal Energy Limited (HMEL) and advanced Novolen technology contract awarded to McDermott International by Chennai Petrochemical Ltd. were some of the highlights in FY20.
“A number of green field expansions in the packaging sector followed by strong boost in the FMCG sector will render a strong impetus to India Polypropylene market in the forecast period. After experiencing major blows due to COVID-19 in the Q4 FY20, players are eyeing on recovery of Polypropylene downstream sectors. Although PP demand from the packaging sector remained quite satisfactory even during the cold waves of coronavirus, the unprecedented slump in the automotive industry weighed over the industry’s annual performance in FY20. However, with recovery in demand and collapse in feedstock prices, players are anticipating enhanced EBITDA margins and efficient capacity utilization in the current fiscal. Packaging sector will offer a vast potential to the India Polypropylene industry, considering rising low packaged food penetration in India and increase in personal disposable income. Moreover, increased investments by the organized retail industries and transition from rigid to flexible packaging will further improve the demand outlook. In addition, domestic manufacturers are also anticipating skyrocketing demand for non-woven Polypropylene, which finds primary usage in face masks after the pandemic. Global demand for polypropylene is forecasted to grow to 120 MMT by 2030. Hence, Indian players are planning to expand their reach to the international market along with ensuring a strong foothold in the domestic industry. These factors, further assisted by increased penetration of Polypropylene in industrial value chains are likely to push PP market to unmatched levels in the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source : ChemAnalyst
India Linear Low-Density Polyethylene (LLDPE) Demand to Touch 3.5 Million Tonnes by 2030
According to ChemAnalyst report, “India LLDPE Market: Plant Capacity, Production, Operating Efficiency, Technology, Process, Demand & Supply, Grade, End Use, Application, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India Linear Low-Density Polyethylene (LLDPE) market is projected to grow at a CAGR of around 7.1% during the forecast period. Rising consumer preference for flexible packaging films in packaged food and beverages backed by strong demand for rotational molding grade which supports fabrication of products which seem impossible to be produced by other processes is expected to drive LLDPE demand in India during the forecast period.
Browse Complete Report : India LLDPE Prices
LLDPE sector leads the India Polyethylene market and is likely to register the sharpest growth due better characteristics than other polyethylenes. Demand for LLDPE holds diverse applications in milk and edible oil packaging, lamination films, extrusion coating, cast films, stretch films, specialty films, rotomoulding and injection moulding. Excellent barrier properties, better affordability, superior toughness and enhanced puncture resistance ensure that LLDPE remains the most preferred choice in the packaged food industry. Packaging sector accounts for more than 60% of the country’s total LLDPE demand, backed by growing demand for convenient and safe packaging of food and pharmaceutical products. LLDPE films also popularly used in carrier bags, pouches, and agricultural covering films and other applications. Rising penetration of new entrepreneurs in the Indian packaging industry and government incentives to promote small and medium enterprises will contribute to the overall growth of Indian LLDPE industry in the forecast period. Moreover, Prime Minister Narendra Modi’s vision to make India a global manufacturing hub will augment the healthy growth of India’s LLDPE market.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Key LLDPE players anticipate rotational molding as one of the fastest growing plastics processing methods in the next five years. The robust growth can be expected because rotational molding can be used for manufacturing materials of versatile shapes and sizes that could not be achieved using traditional vinyl processes. LLDPE roto molding grades serving vast applications in automotive parts, toys, insulated containers, tanks etc. is expected to drive the overall LLDPE market in the forecast period.
Demand of polymer products remained strongly affected throughout Q4FY20, due to indefinite halt in industrial activities caused due to the sudden outbreak of novel coronavirus. Hit by the demand downturn, LLDPE film CFR prices in India dropped by $10 per tonne with strong fluctuations between $790-830/tonne in Q4FY20 due to COVID-19 related uncertainties. Hit by the pandemic woes, local LLDPE players had to balance with swelling inventories and recorded significant slump in annual polyethylene sales. Reduced offtake by the downstream end-users forced several state controlled LLDPE refiners such as OPAL and RIL to curtail operating rates at their petrochemical production units by more than 30%. However, with ease in lockdown restrictions in May, the companies scaled up their production activities up to 70% to recover the potential losses. Despite unprecedented downfall in the Indian economy due to underperformance of the industrial sector, the demand for polymers is likely to sustain in this fiscal and gradually rise in the years to come as India has geared up to become a self-reliant country with constant support of the Indian government. Prices of LLDPE will reach to their pre pandemic levels by Q2 FY21 and will erase out the incurred losses with strengthening demand.
According to ChemAnalyst report, “India Low-Density Polyethylene (LDPE) Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in India LLDPE market are Reliance Industries Limited, GAIL India Limited, Indian Oil Corporation Limited, Haldia Petrochemicals Limited, ONGC Petro additions Limited and Brahmaputra Cracker and Polymer Limited. RIL leads the domestic LLDPE market with about 23% market share. Globally, the company is the world’s 7th largest producer of LLDPE and is expected to expand its global footprints with hefty investment plans in the coming fiscals. The Dow Chemical Company, ExxonMobil, SABIC, QAPCO etc. are some of leading international players operating in the India LLDPE market. Scheduled capacity expansions and new players venturing into the domestic market are likely to propel the LLDPE market growth in the forecast period. In 2019, India’s HPCL-Mittal Energy Ltd (HMEL) received environmental clearance for adding a polymer unit at its Guru Gobind Singh refinery and Petrochemical complex. The proposed project is expected to complete by April 2021 and would house two LLDPE/HDPE swing plants of capacity 400 KTPA each, a 500 KTPA Polypropylene plant, a 450 KTPA HDPE unit and a 55 KTPA butane-1 line.
“India is the second largest polymer consumer in Asia after China. Polymer demand in India is strongly driven by increasing disposable income and exceptional growth in its e-commerce sector. Almost 80% of the global LLDPE is used in films for applications such as food and non-food packaging, shrink & stretch film, and non-packaging uses. India’s huge volumes of produced LLDPE goes into single-use packaging. Food packaging is one of the major growing areas of the industry as people become more adaptable to packaged and frozen foods. Sectoral growth is also promoted as people are increasingly shifting their focus from packing in rigid containers to high quality flexible packages. Although COVID-19 rendered a deep injury to the Indian polymer industry, abundant low-cost feedstocks will create lucrative opportunities for the Indian firms. Moreover, domestic players aggressively expanding their capacities and investing in world class LDPE processing technologies would further enhance the penetration of the local players in the international markets. Looking at the market uncertainties, long-term supply-chain analysis and procurement strategies will have a decisive impact on the growth trajectory of the country’s LLDPE market in the years to come.“said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source : ChemAnalyst
Browse Complete Report : India LLDPE Prices
LLDPE sector leads the India Polyethylene market and is likely to register the sharpest growth due better characteristics than other polyethylenes. Demand for LLDPE holds diverse applications in milk and edible oil packaging, lamination films, extrusion coating, cast films, stretch films, specialty films, rotomoulding and injection moulding. Excellent barrier properties, better affordability, superior toughness and enhanced puncture resistance ensure that LLDPE remains the most preferred choice in the packaged food industry. Packaging sector accounts for more than 60% of the country’s total LLDPE demand, backed by growing demand for convenient and safe packaging of food and pharmaceutical products. LLDPE films also popularly used in carrier bags, pouches, and agricultural covering films and other applications. Rising penetration of new entrepreneurs in the Indian packaging industry and government incentives to promote small and medium enterprises will contribute to the overall growth of Indian LLDPE industry in the forecast period. Moreover, Prime Minister Narendra Modi’s vision to make India a global manufacturing hub will augment the healthy growth of India’s LLDPE market.
Chemical-Pricing: https://www.chemanalyst.com/ChemicalPricing/ChecmPriceYearlyChart?Customer=False
Key LLDPE players anticipate rotational molding as one of the fastest growing plastics processing methods in the next five years. The robust growth can be expected because rotational molding can be used for manufacturing materials of versatile shapes and sizes that could not be achieved using traditional vinyl processes. LLDPE roto molding grades serving vast applications in automotive parts, toys, insulated containers, tanks etc. is expected to drive the overall LLDPE market in the forecast period.
Demand of polymer products remained strongly affected throughout Q4FY20, due to indefinite halt in industrial activities caused due to the sudden outbreak of novel coronavirus. Hit by the demand downturn, LLDPE film CFR prices in India dropped by $10 per tonne with strong fluctuations between $790-830/tonne in Q4FY20 due to COVID-19 related uncertainties. Hit by the pandemic woes, local LLDPE players had to balance with swelling inventories and recorded significant slump in annual polyethylene sales. Reduced offtake by the downstream end-users forced several state controlled LLDPE refiners such as OPAL and RIL to curtail operating rates at their petrochemical production units by more than 30%. However, with ease in lockdown restrictions in May, the companies scaled up their production activities up to 70% to recover the potential losses. Despite unprecedented downfall in the Indian economy due to underperformance of the industrial sector, the demand for polymers is likely to sustain in this fiscal and gradually rise in the years to come as India has geared up to become a self-reliant country with constant support of the Indian government. Prices of LLDPE will reach to their pre pandemic levels by Q2 FY21 and will erase out the incurred losses with strengthening demand.
According to ChemAnalyst report, “India Low-Density Polyethylene (LDPE) Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in India LLDPE market are Reliance Industries Limited, GAIL India Limited, Indian Oil Corporation Limited, Haldia Petrochemicals Limited, ONGC Petro additions Limited and Brahmaputra Cracker and Polymer Limited. RIL leads the domestic LLDPE market with about 23% market share. Globally, the company is the world’s 7th largest producer of LLDPE and is expected to expand its global footprints with hefty investment plans in the coming fiscals. The Dow Chemical Company, ExxonMobil, SABIC, QAPCO etc. are some of leading international players operating in the India LLDPE market. Scheduled capacity expansions and new players venturing into the domestic market are likely to propel the LLDPE market growth in the forecast period. In 2019, India’s HPCL-Mittal Energy Ltd (HMEL) received environmental clearance for adding a polymer unit at its Guru Gobind Singh refinery and Petrochemical complex. The proposed project is expected to complete by April 2021 and would house two LLDPE/HDPE swing plants of capacity 400 KTPA each, a 500 KTPA Polypropylene plant, a 450 KTPA HDPE unit and a 55 KTPA butane-1 line.
“India is the second largest polymer consumer in Asia after China. Polymer demand in India is strongly driven by increasing disposable income and exceptional growth in its e-commerce sector. Almost 80% of the global LLDPE is used in films for applications such as food and non-food packaging, shrink & stretch film, and non-packaging uses. India’s huge volumes of produced LLDPE goes into single-use packaging. Food packaging is one of the major growing areas of the industry as people become more adaptable to packaged and frozen foods. Sectoral growth is also promoted as people are increasingly shifting their focus from packing in rigid containers to high quality flexible packages. Although COVID-19 rendered a deep injury to the Indian polymer industry, abundant low-cost feedstocks will create lucrative opportunities for the Indian firms. Moreover, domestic players aggressively expanding their capacities and investing in world class LDPE processing technologies would further enhance the penetration of the local players in the international markets. Looking at the market uncertainties, long-term supply-chain analysis and procurement strategies will have a decisive impact on the growth trajectory of the country’s LLDPE market in the years to come.“said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source : ChemAnalyst
India’s Ethylene Demand to Grow at a CAGR of 5.45% by 2030
According to ChemAnalyst report, “India Ethylene Market: Plant Capacity, Production, Operating Efficiency, Technology, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India’s Ethylene market is anticipated to grow at a healthy CAGR of 5.45% during the forecast period on account of robust rise in its consumption for producing Polyethylene (PE) which finds key usage in the country’s ever growing packaging sector, backed by government’s leading role in expansion of the country’s petrochemicals sector.
Browse Complete Report : India Ethylene Price
Polyethylene production holds about 60% share in India’s overall Ethylene demand. Polyethylene (PE) such as HDPE, LDPE, LLDPE and mLLDPE are the key raw materials used in the packaging industry which is growing at a greater pace with the country’s expanding organized retail and e-commerce sectors. There has also been a considerable rise in the demand for PE packaging in food, beverages, personal care, healthcare and consumer electronics industries. Production of Ethylene Oxide is the second largest application of the Ethylene volumes consumed in India. Ethylene Oxide is used in producing derivatives such as ethoxylates (used in shampoo kitchen cleaners etc.), glycol ethers (solvents, fuels etc.), ethanolamines (cosmetics , surfactants etc.), polystyrene (thermal insulation, elastomer, etc.) and many other downstream chemicals. With government’s keen focus on the country’s urbanization and infrastructure development, the demand for building and construction plastics, another major end-use segment of Ethylene, is set to take a strong leap in the near future.
During Q4 2020, the Indian chemical and petrochemical industry witnessed an unprecedented demand downfall due to coronavirus related restrictions which disrupted logistics and industrial operations across the nation. Lengthened Ethylene supply due to evaporating demand, pressured India’s Ethylene cost curve. Moreover, a sharp decline in crude oil prices further lowered the feedstock Naphtha values, slashing the Ethylene margins. The price for Ethylene hovered between $350-430 per tonne CFR (Cost and Freight) in Q4 FY20, to hit record breaking lows. Slump in downstream Polyethylene demand and swelling inventories forced domestic producers to announce temporary plant shutdowns. In April this year, Gas Authority of India Ltd (GAIL) announced temporary shutdown of its 400KTPA Polyethylene plant at Pata in Uttar Pradesh to deal with excess inventory during the pandemic crisis. Several Ethylene producers like state-owned Indian Oil Corporation and private-sector Haldia Petrochemicals also shut their crackers in Panipat, Paradip and Haldia due to strict lockdowns imposed in the month of March and April. These led to heavy losses to the local refiners who waited for certain relaxations to balance their petrochemical sales. However, with Indian government’s idea of unlocking the country gradually, the Ethylene demand and prices are heading towards substantial recovery. Also, Ethylene players are evaluating opportunities within the crisis such as importing cheap crude oil and diversifying their petrochemical portfolio, sensing market optimism due to government’s keen focus on its Make in India Scheme.
According to ChemAnalyst report, “India Ethylene Oxide Market: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the domestic players operating in India Ethylene market are Reliance Industries Limited, Indian Oil Corporation Limited, GAIL (India) Limited, ONGC Petro Additions Limited, Haldia Petrochemicals Limited. LyondellBasell, Dow Chemical Co., ExxonMobil, Chevron Phillips, Shell, INEOS etc. are some of the international players operating in India Ethylene market. State-owned Bharat Petroleum Corporation Ltd (BPCL) is planning to invest Rs 25,000 crore to set up an Ethylene cracker unit at Rasayani, located 50 km from its Mumbai refinery. This investment would enable BPCL expand its petrochemical’s business which currently holds only about 1 per cent share in the country’s petrochemicals sector as the refiner is planning to shed long-term losses to its main transportation fuels business. The plant is expected to come onstream by 2023. In August FY20, Nayara Energy got permission from Gujarat State Pollution Control Board (GPCB) for its additional 10.75 MMTPA petrochemical complex at Vadinar. The massive expansion project would house petchem units such as Ethylene cracker, aromatics, polyester intermediates and polymer units. Such massive expansion strategies by the national refiners backed by Indian government’s constant support towards the expansion of domestic petrochemical production will lead to the tremendous growth of the India Ethylene Industry in the forecast period.
“With India’s growing petrochemicals demand, refiners are trying to diversify their product portfolio by entering into production of more value-added products. Although the demand for petroleum products used in transportation fuels is set to face pressure due to increasing use of electric vehicles in future, the petrochemicals sector (which accounts for nearly 30% of the country’s chemicals industry) is likely to witness remarkable growth in the forecast period. The performance of the petrochemicals industry is often benchmarked to Ethylene, which is majorly obtained through Naphtha cracking. Due to increasing consumption of polyethylene by several end users, the demand for Ethylene is expected to touch 15 million tonnes by 2030. However, due to the lack of olefin and several downstream capacities, India imports huge volumes of Ethylene from Malaysia, UAE etc. This demand supply mismatch and the government’s strong focus on its “Make in India” strategy pose a huge opportunity for players eyeing on capacity additions in downstream sectors. Over the past 10 years, imports of Ethylene derivatives have increased at a CAGR of around 15% and it is being anticipated that if the demand-supply lag remains, India will be the second largest importer of Polyethylene after China by 2023. However, sudden crash in upstream crude oil values and keen interest of several refiners of western countries across the globe to invest in the growing petrochemical market of India since onset of the pandemic, will propel the Ethylene market growth in the forecast period. As the world is switching from fossil fuels to renewable sources of energy and adopting electric vehicles, there is a strong possibility that local refiners would maximize their “oil-to-chemicals” conversion and would support the production of high value petrochemicals in the country. This further aligned with Prime Minister’s vision to reduce India’s reliance over imported commodities, would fuel the growth of Ethylene market in the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source : ChemAnalyst
Browse Complete Report : India Ethylene Price
Polyethylene production holds about 60% share in India’s overall Ethylene demand. Polyethylene (PE) such as HDPE, LDPE, LLDPE and mLLDPE are the key raw materials used in the packaging industry which is growing at a greater pace with the country’s expanding organized retail and e-commerce sectors. There has also been a considerable rise in the demand for PE packaging in food, beverages, personal care, healthcare and consumer electronics industries. Production of Ethylene Oxide is the second largest application of the Ethylene volumes consumed in India. Ethylene Oxide is used in producing derivatives such as ethoxylates (used in shampoo kitchen cleaners etc.), glycol ethers (solvents, fuels etc.), ethanolamines (cosmetics , surfactants etc.), polystyrene (thermal insulation, elastomer, etc.) and many other downstream chemicals. With government’s keen focus on the country’s urbanization and infrastructure development, the demand for building and construction plastics, another major end-use segment of Ethylene, is set to take a strong leap in the near future.
During Q4 2020, the Indian chemical and petrochemical industry witnessed an unprecedented demand downfall due to coronavirus related restrictions which disrupted logistics and industrial operations across the nation. Lengthened Ethylene supply due to evaporating demand, pressured India’s Ethylene cost curve. Moreover, a sharp decline in crude oil prices further lowered the feedstock Naphtha values, slashing the Ethylene margins. The price for Ethylene hovered between $350-430 per tonne CFR (Cost and Freight) in Q4 FY20, to hit record breaking lows. Slump in downstream Polyethylene demand and swelling inventories forced domestic producers to announce temporary plant shutdowns. In April this year, Gas Authority of India Ltd (GAIL) announced temporary shutdown of its 400KTPA Polyethylene plant at Pata in Uttar Pradesh to deal with excess inventory during the pandemic crisis. Several Ethylene producers like state-owned Indian Oil Corporation and private-sector Haldia Petrochemicals also shut their crackers in Panipat, Paradip and Haldia due to strict lockdowns imposed in the month of March and April. These led to heavy losses to the local refiners who waited for certain relaxations to balance their petrochemical sales. However, with Indian government’s idea of unlocking the country gradually, the Ethylene demand and prices are heading towards substantial recovery. Also, Ethylene players are evaluating opportunities within the crisis such as importing cheap crude oil and diversifying their petrochemical portfolio, sensing market optimism due to government’s keen focus on its Make in India Scheme.
According to ChemAnalyst report, “India Ethylene Oxide Market: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the domestic players operating in India Ethylene market are Reliance Industries Limited, Indian Oil Corporation Limited, GAIL (India) Limited, ONGC Petro Additions Limited, Haldia Petrochemicals Limited. LyondellBasell, Dow Chemical Co., ExxonMobil, Chevron Phillips, Shell, INEOS etc. are some of the international players operating in India Ethylene market. State-owned Bharat Petroleum Corporation Ltd (BPCL) is planning to invest Rs 25,000 crore to set up an Ethylene cracker unit at Rasayani, located 50 km from its Mumbai refinery. This investment would enable BPCL expand its petrochemical’s business which currently holds only about 1 per cent share in the country’s petrochemicals sector as the refiner is planning to shed long-term losses to its main transportation fuels business. The plant is expected to come onstream by 2023. In August FY20, Nayara Energy got permission from Gujarat State Pollution Control Board (GPCB) for its additional 10.75 MMTPA petrochemical complex at Vadinar. The massive expansion project would house petchem units such as Ethylene cracker, aromatics, polyester intermediates and polymer units. Such massive expansion strategies by the national refiners backed by Indian government’s constant support towards the expansion of domestic petrochemical production will lead to the tremendous growth of the India Ethylene Industry in the forecast period.
“With India’s growing petrochemicals demand, refiners are trying to diversify their product portfolio by entering into production of more value-added products. Although the demand for petroleum products used in transportation fuels is set to face pressure due to increasing use of electric vehicles in future, the petrochemicals sector (which accounts for nearly 30% of the country’s chemicals industry) is likely to witness remarkable growth in the forecast period. The performance of the petrochemicals industry is often benchmarked to Ethylene, which is majorly obtained through Naphtha cracking. Due to increasing consumption of polyethylene by several end users, the demand for Ethylene is expected to touch 15 million tonnes by 2030. However, due to the lack of olefin and several downstream capacities, India imports huge volumes of Ethylene from Malaysia, UAE etc. This demand supply mismatch and the government’s strong focus on its “Make in India” strategy pose a huge opportunity for players eyeing on capacity additions in downstream sectors. Over the past 10 years, imports of Ethylene derivatives have increased at a CAGR of around 15% and it is being anticipated that if the demand-supply lag remains, India will be the second largest importer of Polyethylene after China by 2023. However, sudden crash in upstream crude oil values and keen interest of several refiners of western countries across the globe to invest in the growing petrochemical market of India since onset of the pandemic, will propel the Ethylene market growth in the forecast period. As the world is switching from fossil fuels to renewable sources of energy and adopting electric vehicles, there is a strong possibility that local refiners would maximize their “oil-to-chemicals” conversion and would support the production of high value petrochemicals in the country. This further aligned with Prime Minister’s vision to reduce India’s reliance over imported commodities, would fuel the growth of Ethylene market in the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source : ChemAnalyst
BASF Petronas Chemicals to Permanently Shut Butanediol and Derivatives Plant in Kuantan, Directing a Shift to its Business Portfolio
Aiming to restructure its business portfolio for sustained growth, BASF Petronas Chemicals Sdn Bhd (BPC) has announced a permanent turnaround at it Butanediol (BDO) and derivatives plant at Kuantan, Malaysia by March 2021.
Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/basf-petronas-chemicals-to-permanently-shut-butanediol-and-derivatives-plant-in-kuantan-directing-a-shift-to-its-business-portfolio-3408
BDO and its derivatives are widely utilized to produce polyurethanes, engineering plastics, elastic spandex fibres, and solvents. Consistent capacity additions in the region due to latest investments in advanced coal based BDO manufacturing sites compelled the company to undertake a strategic shift that intends at expanding its future profit margins. For a smooth transition, the company is currently reaching out in support from all its existing customers, meanwhile it is also assuring consistent survive of its other products, promising stability. BASF Petronas Chemicals (BPC) based in Malaysia is a joint venture between BASF and Petronas Chemicals Group Berhad (PCG). Supporting the closure, Managing Director CEO of PCG called it a well-versed move will allow the company for a favourable shift to new segments showcasing potential growth. In addition, the closure is in line with PCG’s mega expansion plans including the setup of specialty chemicals segments and innovating the existing ones using advanced technologies.
ChemAnalyst predicts that the closure of BPC’s Butanediol plant may not hinder the regional supply but can adhere severe effects to the importing countries based in Asia and Europe. However, with consistent addition and expansion of existing capacities, these effects might nullify in the long run.
Source : ChemAnalyst
Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/basf-petronas-chemicals-to-permanently-shut-butanediol-and-derivatives-plant-in-kuantan-directing-a-shift-to-its-business-portfolio-3408
BDO and its derivatives are widely utilized to produce polyurethanes, engineering plastics, elastic spandex fibres, and solvents. Consistent capacity additions in the region due to latest investments in advanced coal based BDO manufacturing sites compelled the company to undertake a strategic shift that intends at expanding its future profit margins. For a smooth transition, the company is currently reaching out in support from all its existing customers, meanwhile it is also assuring consistent survive of its other products, promising stability. BASF Petronas Chemicals (BPC) based in Malaysia is a joint venture between BASF and Petronas Chemicals Group Berhad (PCG). Supporting the closure, Managing Director CEO of PCG called it a well-versed move will allow the company for a favourable shift to new segments showcasing potential growth. In addition, the closure is in line with PCG’s mega expansion plans including the setup of specialty chemicals segments and innovating the existing ones using advanced technologies.
ChemAnalyst predicts that the closure of BPC’s Butanediol plant may not hinder the regional supply but can adhere severe effects to the importing countries based in Asia and Europe. However, with consistent addition and expansion of existing capacities, these effects might nullify in the long run.
Source : ChemAnalyst