According to ChemAnalyst report, “Global Metallocene Linear Low Density Polyethene (mLLDPE) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global mLLDPE market is projected to grow with an impressive CAGR of 5.75% during the forecast period on account of rise in demand from packaging industry because of its excellent impact and punctured resistance capabilities.Lamination packing increases the strength of the material and provide better resistance from tearing and punching.Get more info: https://www.chemanalyst.com/industry-report/mlldpe-market-64Packaging industry holds major consumption share in the global mLLDPE industry followed by piping and construction sector.Agriculture sector started using it for the purpose of protection of crops from insects, that improves the productivity and reduce the usage of insecticides, pesticides, herbicides etc.wrapping films in packaging sector always favours mLLDPE over other material due to its cost effectiveness, faster application and user-friendly nature.Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestFormGlobal economic slowdown due to COVID 19 impacted the manufacturing industries during the first half of 2020.Later in second half of 2020, huge fall in crude oil prices reduced the end use product price, but the demand from packaging industries remained firm.Later during final quarter 2020, resumed construction activities improved the demand of mLLDPE from other sectors like piping and other heavy duty packing materials.
According to ChemAnalyst report, “Global BOPP (Biaxially Oriented Polypropylene) and BOPET (Biaxially Oriented polyethylene terephthalate) films Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global BOPP and BOPET films market has shown tremendous growth in the past five years and is anticipated to achieve a CAGR of 4.88% during the forecast period.Increasing population and growing demand for ready to eat foods, demand from pharmaceutical industry as a packaging material, development of new technologies and increasing e-commerce activities would drive the demand for films in the forecast period.This revolutionary technology is known to be the most economical one, with remarkable benefits such as reduced capital investments, maintenance costs, and waste treatment.Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestFormAmong various applications of films, food and beverages dominate the Global BOPP and BOPET films market.South Asia, particularly India, seems to be the key market for chemicals as the country is seen as a generally under-supplied market with limited domestic manufacturing.Moreover, increasing focus of the Indian government towards spreading awareness for production in India through campaigns such as MAKE IN INDIA Project would stimulate the growth of the global ABS market in the forecast period.According to ChemAnalyst report, Global BOPP and BOPET films Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global BOPP and BOPET films market are Kemira Oyj, AkzoNobel N.V., BASF SE, Dow Chemical Company, Nalco Holdings, and Ashland, Inc. etc.The technology improves the efficiency of the manufacturing process and cuts CO2 emissions and water and electricity use.“Being directly linked to the Chemicals industry, the global BOPP and BOPET films industry has shown a robust growth alongside growing population and changing consumer preference.
According to ChemAnalyst report, “Global Refinery Catalyst Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Refinery Catalyst market has shown tremendous growth in the past five years and is anticipated to achieve a CAGR of 5.14% during the forecast period.This revolutionary technology is known to be the most economical one, with remarkable benefits such as reduced capital investments, maintenance costs, and waste treatment.Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestFormAmong various applications of catalyst, FCC (Fluid Catalytic Cracking) catalyst dominate the Global refinery catalyst market.As of 2020, the FCC (Fluid Catalytic Cracking) catalyst dominate Refinery catalyst end user market and are expected to propel the market growth backed by drivers like increasing e-commerce activities which is dependent on petroleum and its derived products, rapid urbanization, and growing rate of per capita consumption of petroleum and its derived products globally.South Asia, particularly India, seems to be the key market for catalyst as the country is seen as a generally under-supplied market with limited domestic manufacturing.Moreover, increasing focus of the Indian government towards spreading awareness for production in India through campaigns such as MAKE IN INDIA Project would stimulate the growth of the global Refinery catalyst market in the forecast period.According to ChemAnalyst report, Global Refinery Catalyst Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global Refinery Catalyst market are Albemarle Corporation, Haldor Topsoe, W R Grace, Honeywell UOP, Clariant, Axens, Johnson Matthey, JGC Catalyst and Chemicals, Shell Catalyst & Technologies, Arkema, Anten Chemicals, Chempack, China Petroleum and Chemical Corporation, Dorf-Ketal Chemicals Pvt.With new competitors emerging across the Asian catalyst market, players anticipate that supply will soon outpace demand soon.
According to Chemanalyst report, “Global Polyurethane (PU) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the Global Polyurethane market is projected to grow at a healthy CAGR of around 6.0% during the forecast period.These are used in almost all major end segment sectors including construction, medical, packaging, furnishing, automotive textile to paints and coatings.Get more info: https://www.chemanalyst.com/industry-report/polyurethane-pu-resin-market-61Polyurethane is a co-polymer that is manufactured when polyols (more than two hydroxyl group) react with an di-isocyanate (methyl diphenyl diisocyanate (MDI) and toluene diphenyl diisocyanate (TDI)), mostly in presence of appropriate additive and catalyst.PUR coatings are used in automobile’s exteriors to provide high gloss durability, scratch resistance and corrosion resistance.North America is expected to remain the largest market during the forecasted period owing to the growth of end use industries like transportation and construction.Global economy is severely hampered by the COVID-19 pandemic.In the beginning the prices were dropped amid lackluster buying appetite and market oversupply due to declined prices of MDI.According to ChemAnalyst report, “Global Polyurethane (PU) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Some of the major players operating in Polyurethane market are Bayer, BASFYantai Wanhua Mitsui chemicals, LANXESS, DowDuPont, Shell International, CovestroRegionally, the Global PU market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa.As per the ChemAnalyst report, Asia-Pacific is the dominating region for the demand of PU.
Major demand from cellulose acetate and pharmaceuticals coupled with growing usage in laundry application to grow the demand for Acetic Anhydride in India for the forecast period.According to ChemAnalyst report, “India Acetic Anhydride Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Acetic Anhydride market is projected to grow at a CAGR 6.44% during the forecast period due to increase in demand for Acetic Anhydride during the forecast period.Get more info: https://www.chemanalyst.com/industry-report/india-acetic-anhydride-market-38Most of the Acetic Anhydride produced in India is through a process called Ketene- Acetic Acid Technology.This process involves thermal cracking acetic acid to ketene and the subsequent reaction of the ketene with additional Acetic Acid to form acetic anhydride.Some acetic acid is produced as a co-product in the methyl acetate carbonylation process.Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestFormDemand in pharmaceuticals is expected to rise due to increasing demand for aspirin in the forecast period.Apart from pharmaceuticals, demand in other end use such as Tetra Acetyle Ethylene Diamine (TAED) is also experiencing a growth trajectory due to rise in the demand for laundry detergents.Demand in cellulose acetate flakes is seeing a decreasing trend in the forecast period due to increasing use of E-cigarettes globally.According to ChemAnalyst report, “India Acetic Anhydride: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”,“Acetic Anhydride demand suffered a minor blow after the onset of coronavirus.As the major use of Acetic Anhydride in India is in the production of Cellulose Acetate flakes and in the pharmaceutical industry.
As per ChemAnalyst report, "India Polyol Market: Plant Capacity, Production, Operating Efficiency, Process, Demand and Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer and Price Intelligence Market Analysis, 2015-2030".India Polyol market is projected to develop a healthy CAGR of during the forecasted time due to increasing demand of Polyols from key end use sectors such as Construction and Automotive.Get more info: https://www.chemanalyst.com/industry-report/india-polyol-market-26Polyether polyols' is significantly used in manufacturing of polyurethane.Polyurethane is further used in furniture, bedding, automotive vehicle seats, floor covering and wall insulation.However, as market is recovering at a faster pace than expected and Government support to bring the industries back on track is making favourable conditions to stable the demand for Polyol.As indicated by ChemAnalyst report, "India Polyol Market: Plant Capacity, Production, Operating Efficiency, Process, Demand and Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer and Price Intelligence Market Analysis, 2016-2030", Currently, Manali Petrochemicals is the major producer of Polyol in India and holds major share in the domestic polyol market.Other companies operating in Annu Industries Ltd., shakun polymers Ltd. Gulshan polyol Ltd, Aether Industries, Amrit Polychem Private Ltd., Vithal castor private Ltd., Expanded polymer system Pvt.said Mr. Karan Chechi, Research Director with TechSci Research, an exploration based worldwide administration counseling firm advancing ChemAnalyst.Browse Related Reports:India Polyol Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, End Use, Grade, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030https://www.chemanalyst.com/industry-report/india-polyol-market-26Global Polyol Sweeteners Market, By Type (Sorbitol, Erythritol, Maltitol, Mannitol, etc.
According to ChemAnalyst report, “India Nitric Acid Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India Nitric Acid market is projected to grow at a CAGR of 4.20% during the forecast period due to increase in demand of Nitric Acid in fertilizer industries during the forecast period.Get more info: https://www.chemanalyst.com/industry-report/india-nitric-acid-market-317 Nitric Acid is one of the most widely used digestion reagents and the most widely used primary oxidant for the decomposition of organic matter.Nitric Acid finds extensive applications in fertilizers, dyes, polyamides, polyurethanes and rocket propellants.Fertilizer Industries hold a significant market share in the India Nitric Acid demand backed by a boost in the country’s fertilizer sector.In addition, government’s initiatives towards making India a global manufacturing hub such as “Make in India” Scheme and for making the India self-independent, this will support the growth of India Nitric Acid market despite all odds.According to ChemAnalyst report, “India Nitric Acid Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Currently, Deepak Fertilizers & Petrochemicals Corporation Ltd. is the leading manufacturer of Nitric Acid in India and holds around 45% share in the domestic Nitric Acid market.The company is continuously ramping up its capacity as it does one at Dahej, Gujrat to cater to country’s growing domestic Nitric Acid demand.DFPCL uses Germany technology for Nitric Acid production which is the most popularly used technology across the globe.
According to ChemAnalyst report, “Global 1,4 Butanediol Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Global 1,4 butanediol market has shown tremendous growth in the past five years and is anticipated to achieve a CAGR of 7.55% during the forecast period.As 1,4 butanediol is a sedative, stringent government regulations regarding consumption of 1,4 butanediol are expected to hinder the demand for the forecast period.Get more info: https://www.chemanalyst.com/industry-report/1-4-butanediol-market-5421,4 butanediol (BDO) is a colorless viscous liquid and is one of the four stable isomers of butanediol.It is used as a solvent in organic synthesis, therefore has application in various end use industries such as automotive, pharmaceutical, electrical and electronics, artificial leather, and agriculture chemicals.Other applications include gamma-butyrolactone (GBL) which is increasing in demand due to application in various industries including electronics, pharmaceuticals, agrochemicals and, high performance polymers thus increasing the demand for 1,4 butanediol.In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of automotive, electronics, and textiles rendered a slight downfall in the global 1,4 butanediol prices.Regionally, Asia Pacific dominates the Global 1,4 butanediol market and holds the largest market share in FY19.Moreover, increasing regulations of the Indian government towards limiting the consumption of 1,4 butanediol because of its psychotropic properties is seen as a barrier to demand growth for the forecast period.According to ChemAnalyst report, Global 1,4 butanediol Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global carbon nanotubes market are International Specialty Products, BASF SE, Invista, Mitsubishi Chemical Corporation, Shanxi Sanwei Group (China), Dairen Chemical Corporation, Nan Ya Plastics Corporation, LyondellBasell Chemicals.“Being linked to the polymeric materials industry, the global 1,4 butanediol industry has shown a robust growth alongside growing population and changing consumer preference.
As per the latest statement revealed by the Ministry of New and Renewable Energy (MNRE), a blueprint or draft towards the National Hydrogen Mission is likely to be finalized within February 2021.The document would contain details about all the aspects starting from the required technology, pilot projects to storage related facilities related to Hydrogen Fuel in the country.The key areas of focus under the mission would include generating volumes and designing infrastructure; enhancing applicability to niche applications (such as transport, steel, fertilizer industry); Research & Development; providing desired policy support; creating a solid framework for standards and regulations for required technologies.For more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/ministry-of-new-and-renewable-energy-mnre-draws-plan-to-actualize-the-green-hydrogen-mission-6484India is planning to construct green Hydrogen plants utilizing the power generated from green energy sources, thereby cutting on its dependence on fossil fuels.The units, apart from serving as the key feedstock source for Ammonia production will also provide fuel storage solutions on a grid-scale.Highlighting the benefits of Hydrogen as a power source, MNRE secretary Indu Shekhar Chaturvedi stated that the idea of mainstreaming Hydrogen in the country’s energy mix is particularly useful for demanding long haul transportation, where battery storage falls short at times.Betting big on the green Hydrogen fuel usage in India, Acme Solar and France’ Lhyfe Labs have signed a Memorandum of Understanding (MoU) to analyze the scope of manufacturing and utilizing green Hydrogen (produced by splitting water into hydrogen and oxygen) in Europe and India.Recently, India’s largest solar power producers Greenko and Adani Group have also tied up with the Italian energy infrastructure firm, Snam S.p.A. for setting up a green Hydrogen enterprise.In alignment to its vision of ‘Make in India’ and ‘Atmanirbhar Bharat’, the government of India is planning to incentivize those engaged in manufacturing of hydrogen and fuel cells technologies and is also inviting bids for setting up green Ammonia projects within next six months with the state-run Solar Energy Corp. of India Ltd. inviting bids for the same.As per ChemAnalyst,” 2020 has seen more funding than ever across the globe towards transitioning to Hydrogen as a sustainable fuel, which is being viewed as the next-generation gasoline.
Union Budget 2021, which was announced on Monday laid significant emphasis over the launch of a green hydrogen project and is being visualized as a game changing initiative by the analysts.The government for developing a green economy has allocated INR 15000 million to the Indian Renewable Energy Development Agency (IREDA) and the National Hydrogen Mission.Get more info: https://www.chemanalyst.com/NewsAndDeals/NewsDetails/hydrogen-energy-mission-an-indian-government-initiative-towards-developing-a-green-economy-6475The launch of Green Hydrogen Mission in 2021-22 for the generation of Hydrogen from Green Resources could viably serve in reducing India’s carbon footprints in the coming years.The technology for the mission will be based on the process of electrolysis provided that the electricity produced is via a clean source.Pricing Overview: https://www.chemanalyst.com/Pricing/PricingoverviewProposed Hydrogen Energy Mission is a critical step as till date it is the only feasible way to achieve zero carbon emissions from steel and cement industries by retrofitting the existing fuel technology with hydrogen for process heat requirements.Supporting the initiative, Director of Climate Trends stated that the step towards establishing a green Hydrogen economy is welcomed.As the Budget 2021 emphasized on rebuilding India, it is in line with the present global trend on implementing a shift to green energy alternatives.India has established an ambiguous target for reaching a capacity of 175 GW of renewable energy by 2022.Even though the dilemma over commercial viability over Hydrogen Technologies still persists across the globe but currently it is being considered as the most feasible source that could lead to zero carbon emissions in the coming years.
Pressure on maritime supply chains after the sudden rebound in demand since the second half of 2020 has caused huge congestion at ports, leading to unprecedented increase in prices and extended delay of scheduled deliveries.After Asia and Europe, which have recorded a steep hike in freight charges amidst congestion on the sea lines and container shortage, Middle East is the next country announcing severe tightness of supplies in its petrochemical sector.Under the pressure of delivering any backlogs of previous contract purchases, various producers are refraining from booking any spot contracts in the near-term.In case of chemical commodities, sturdy demand for Polyethylene (PE) in the regional market has also hindered its deliveries to the Middle East especially from its major supplier US.As most of the sellers have already sold their cargoes for this month and are poised to sanction new contracts for February by the end of January, the prices of Polypropylene (PP) are likely to witness upsurge in the Middle Eastern countries.Several production turnarounds in Asia have given the room to the regional PET sellers to cater to the domestic demand which has thus reduced the overseas delivery pressure.China’s Resources Chemicals and Zhejian Wakai New Material PET resin plants with the capacity of 400 KTPA each, have been shut for maintenance since December with no resumption date in sight.
According to ChemAnalyst report, “Global Acrylic Acid Market: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Acrylic Acid market is expected to grow at a healthy CAGR of 5.9% during the forecast period on account of its increasing demand for manufacturing Acrylate Esters, which are the key raw materials for manufacturing of paints, coatings, adhesives, acrylic textiles and other products which are widely used in the construction sector.The major demand driving factor of Acrylic Acid is the growing manufacturing of superabsorbent polymers (SAPs) which hold nearly 40% share in the global Acrylic Acid demand.owing to their ability to soak large amount of liquid.Acrylic Acid is an exceptionally reliable choice for building and construction industry due to its increased usage in various applications such as floor polish formulations, paints, and others.The Acrylic Acid market growth witnessed slight downward shift in 2020, as several countries adopted strict lockdown measures to curb the spreading of COVID-19, consequently leading to raw material disruptions and reduced offtake from the downstream acrylic ester industries.Acrylic Acid prices were subjected to acute volatility during FY20 under the influence of unstable raw materials and feedstock availability issues due disrupted trade amid COVID-19 outbreak in 2020.Download Sample Report @ https://www.chemanalyst.com/ChemAnalyst/RequestFormAccording to ChemAnalyst report, “Global Acrylic Acid Market: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major Acrylic Acid players operating in the global market are BASF SE, The Dow Chemical Company, Nippon Shokubai Co. Ltd., Arkema, LG Chem Ltd., Zhejiang Satellite Petrochemical Co., Ltd., Shanghai Huayi Acrylic Acid, Sinopec Beijing Eastern Petrochemicals, Taixing Jurong Chemical Co. Ltd. and others.China is the world's leading producer and consumer of Acrylic Acid and being the world’s largest country by population, holds vast potential towards accelerating the growth of global Acrylic Acid market.
Growing sales of passenger vehicles, increasing demand from mining sector and growth in construction activities in the country to drive Australia automotive coolant market through 2025According to ChemAnalyst report, “Australia Automotive Coolant Market By Vehicle Type (Passenger Car, Commercial Vehicle, Two-Wheeler and OTR), By Product Type (Ethylene glycol, Propylene glycol and glycerol), By Technology (Inorganic acid technology, Organic acid technology and Hybrid organic acid technology), By Demand Category (OEM Vs.Replacement) and By Region, Forecast & Opportunities, 2025”, Australia automotive coolant market was valued USD 267.06 Million in 2019 and is forecast to grow at CAGR of over 9% in the next five years to reach USD 340.61 Million by 2025.Australia’s export sector is largely dependent on the country’s natural resources.Ethylene glycol is expected to hold major share during the forecast period, on account of low price, availability and demand in the market, so the majority of lubricant manufacturer prefer to use ethylene glycol for manufacturing of automotive lubricants.Regionally, Australia automotive coolant market has been segmented into regions including New South Wales, Victoria & Tasmania, Queensland, Western Australia and Northern Territory & Southern Australia.New South Wales is expected to hold major share in the market owing to major provinces and attracting an increasing number of people to migrate to this region.Some of the major players operating in Australia Automotive Coolant market are Royal Dutch Shell Plc, Castrol Australia Pty Ltd, Chevron Australia Downstream Pty.Ltd., Penrite Oil Co Pty Ltd., Valvoline Australia Pty Ltd, Caltex Australia Ltd., Total Oil Australia Pty Ltd, Nulon Products Australia Pty Ltd, Exxon Mobil Corporation Ltd, Fuchs Lubricants (Australasia) Pty Ltd, etc.Download Sample Report @ https://www.chemanalyst.com/ChemAnalyst/RequestForm“North South Wales is expected to dominate the automotive coolant market during the forecast period, owing to increase in shift of people in the region for better opportunity and livelihood.
Aiming to expand its horizons in Middle East, Sika, a multinational Swizz based company engaged in business of specialty chemicals, has commenced a new epoxy resin manufacturing unit in its Dubai facility.The idea behind this new project is to increase company’s production flexibility, reduce inventories, optimize cost structures, and shorten delivery span.Since Sika majorly deals with concreate admixtures, epoxy resins thus make up a prominent part of its flooring solutions.Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/sika-strengthens-footprint-in-middle-east-commences-production-of-epoxy-resin-in-dubai-3409Epoxy resins are primarily utilized to clinch the flooring of private homes and industrial floor layer to provide resilience towards any kind of chemical or mechanical exposure.In support of the new project, regional manager of the company stated that the new unit of Epoxy Resins in Dubai will enable them to widen their competitive edge and strengthen the foothold in the regional flooring solution market.The company even mentioned that its captive product portfolio will profoundly assist its expansion plans in the Middle East.Although the economy of UAE is facing horrendous challenges due to a pervasive drop in oil prices due to the repercussions caused by Covid-19.
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-3408BDO 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.
On Sunday, 15 countries gathered to solidify their participation in Regional Comprehensive Economic Partnership (RCEP) by signing a free-trade agreement (FTA) to strengthen their trade ties and ensure easier availability of goods and services across the countries.Analysts anticipate that the most immediate impact of RCEP could be the regionalization of polyethylene (PE) and polypropylene (PP) trades within the Association of Southeast Asian Nations (Asean) region, northeast Asia and Oceania.Get more info : https://www.chemanalyst.com/NewsAndDeals/DealsDetails/regional-comprehensive-economic-partnership-rcep-deal--78The silver lining could be the gradual reduction of import tariffs for PE and PP stocks from northeast Asia-origin to southeast Asian countries such as Thailand, Malaysia, the Philippines and Indonesia from 5-10% to not more than 5% over the next 10-20 years.Lower freight rates and shorter transit times would also attract buyers in RCEP nations.The FTA was signed by China, Japan, South Korea, Australia, New Zealand and the 10 members of Asean.According to data from the International Monetary Fund, RCEP nations hold nearly a third share in the global economy and their combined gross domestic product stands at around USD 26 trillion.However, on November 4, 2019, India backed out from the discussions over “significant outstanding issues”.
Firming demand and spike in consumer durables sales as the nation gets closer to the Diwali festival, has pushed up the Indian polymer offers since the first week of November.Market players are eyeing to regain the momentum lost due to strict COVID-led lockdowns starting March this year by ramping up operations in their manufacturing units to leverage great benefits on the fresh demand pick-up.Indian low-density polyethylene (LDPE) Liquid Packaging grade prices were assessed at USD 1,300-1,335/t while Adhesive Film grade prices were settled around USD 1,250/t Ex-Depot Bhiwandi w.e.f.While linear low-density polyethylene (LLDPE) film grade was assessed at USD 1,090/t Ex-Depot Bhiwandi, Ex-Depot prices for high-density polyethylene (HDPE) Blown film grade were recorded at USD 1,095/t and PP raffia at USD 1,150-1,170/t, according to ChemAnalyst data.Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/indian-polymer-makers-get-a-festive-push-ahead-of-diwali-season-prices-soar-3402Realizations for LDPE, LLDPE and PP raffia rose almost by 2% while HDPE film rose by 1.4%, against the previous week.Polyethylene (PE) and Polypropylene (PP) import prices from the Middle East were higher by USD 20-30/t than last week in accord with bullish sentiments.As per our market sources, the country’s largest refiner Reliance Industries Ltd. (RIL) turned operational on 28 October after 3 days of maintenance turnaround.
As US heads towards Presidential Elections, the energy policy makers in India are keeping a close watch on the results which would decide its impact on the India-US ties.While Joe Biden promises strong push towards renewable energy sources, Trump’s victory may strengthen India’s oil, infra and defense sector.As soon as incumbent Donald Trump pulled US out of the Paris climate change agreement, which aims at mitigating the impact of greenhouse gas emissions on the global temperature rise, Biden launched a campaign promising the US to achieve the target of net zero emissions by 2050 and investing USD 1.7 trillion in the next ten years towards actualizing the same.Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/a-birds-eye-view-on-the-outcome-of-us-elections-on-indias-energy-sector-3399Biden’s proposal sounds well when India has already shifted to fifth gear towards increasing its capacity of clean energy projects.Clean energy projects comprise nearly a fifth of India’s power generation capacity.By March 2022, India is aiming to produce 100 GW energy from its ongoing solar projects and 60 GW from wind power plants.India has been already revisiting its crude sourcing strategy amid growing global uncertainties post the COVID-19 outbreak, aiming to protect its consumers from strong fluctuations in the international oil futures.The India-US hydrocarbon trade was valued at USD 9.2 billion in FY20.
Taking forward the vision of self-reliant India, Meghmani Finechem Limited (MFL) announces plan for the expansion of its Caustic Soda facility from 294 KTPA to 400 KTPA.Besides this, the company is also willing to boost the capacity of its Captive Power Plant at its Chlor Alkali and Derivative unit from 96 MW to 132 MWT.Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/meghmani-reveals-plans-for-caustic-soda-capacity-expansion-aims-to-reduce-indias-chemical-dependency-3397The advanced capacity expansion with scheduled completion in March 2022 is anticipated to incur a total expenditure of around INR 2300 Million.Following the expansion, installed capacities of Chlorine and Hydrogen will be raised to 350 KTPA and 116 Million NM3 per annum.The project will also ensure efficient supplies to the upcoming Epichlorohydrin plant to be commenced in FY 2022 and CPVC plant in FY 2023.Moreover, it is anticipated to serve well in catering the requirement from downstream derivatives like Hydrogen Peroxide, Chloromethanes, Epichlorohydrin and CPVC Resins in India.As per ChemAnalyst, “the brownfield project is perceived to serve as a foundation for upcoming capacity additions in India’s downstream chemical industry and will considerably assist in reducing its chemical dependency upon various countries.Thus, in the coming years the project will appreciably contribute to brace the overall economy of India by generating high revenue and cutting on freight charges.”About UsChemAnalyst is a ‘one stop’ digital platform that offers comprehensive market intelligence data and in-depth analysis of the Indian chemical and petrochemical industry.ChemAnalyst’s team of 100+ analysts are engaged in tracking chemical prices daily, production capacity, demand and supply outlook, manufacturing plant locations, foreign trade data and news/deals for more than 400 major chemicals produced in India.