Commodities Mentioned:
PVC, Polypropylene, Polyethylene, Polyurethane, Polystyrene, Polycarbonate, PET, Propylene, Methanol, Lithium, Ethylene, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, MDI, Benzene, Carbon Black, Sheetrock, Asphalt, LNG, Cement/Concrete, Ammonia, Nitrogen
Companies Mentioned:
LyondellBasell, CP Chemical, Dow, Westlake, Nova Chemicals, OxyChem, ExxonMobil, Huntsman, Braskem, Pinnacle Polymers, Ineos, BASF, Petronas, Phillips 66, Suncor, TC Energy, Ascensus, Chandra Asri, Chevron Lummus, Aramco, GAIL, Galp, Northvolt, W.R. Grace, Trinseo, Neo-Pak, BP, INOVYN, Iberdrola, Avantium, Mitsubishi, Mitsui Chemicals, Trafigura, TotalEnergies, Flint Hills, Enterprise Products, Covestro, Cheniere, Vopak Moda, BMW, Livent, Albemarle, SQM, Ganfeng Lithium, Kuraray, Sumitomo Chemical, Technip Energies, Linde, Hive Hydrogen, LG Chem, Plug Power, Mosaic, Borealis, Bloom Energy, ZeroAvia, Svante, Summit Carbon Solutions, Kiewit, McPhy, Footprint, Primax, Monolith, Continuus Materials, Lucid Group, Nikola, Rivian Automotive, Origin Materials, PureCycle Technologies, Goodyear, Cabot, Orion Engineered Carbons, Tokai Carbon, Aker Carbon Capture, Saint-Gobain, Provectus, Danimer Scientific, MOL, Pertamina, 3M, Arkema, Petrobras, Entegris, Minerals Tech., ITM Power, Yara, Wacker Chemie, CordenPharma, Equinor, Incitec Pivot, Honeywell, Fortescue, Agilyx, UBQ Materials, PepsiCo, Novozymes, Saipem, IGO, Amazon, Toyota, Campbell Soup, HSBC, MEGlobal, Ascend, Shell, Enbridge, Circulus, Nouryon, Johnson Matthey, Lotte Chemical, POSCO, Proteum Energy, Plastic Energy, Petroineos, Maire Tecnimont, SK, Solvay, Versalis, BTS Biogas, Linde Engineering
C-MACC Sunday Thematic & Weekly Recap 97
Happier New Year: US 2022 Upside Demand Surprise Scenario
- We see several potentially convergent factors driving upside to US demand growth for chemicals, polymers, and other materials – reshoring most important
- Other drivers, infrastructure, and energy transition could see some upside in 2022, but more likely a year of planning and fundraising – with 2023 investment
- US manufacturers can produce more, even if they need to spend to overcome bottlenecks, but labor and logistics may be constraints and raise costs
- Chemical companies are cheap on this basis, especially those durables/building focused (Westlake), new material/fuel companies could see capital cost inflation
- Otherwise, we look at Enterprise and ethylene, recycled polymers, US natural gas imbalances in 2022, and carbon costs and values.
Last week we discussed 26 Chemicals and related products and 119 Companies.
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