Sunday Thematic & Weekly Recap

Chemical demand may exceed most 2022 expectations
February 13, 2022
Commodities Mentioned:
PVC, Polypropylene, Polyethylene, Polyurethane, Polycarbonate, PET, Clean Energy Minerals, Ethylene, Propylene, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Lithium, Copper, Aluminum, Zinc, Cobalt, Chromium, Manganese, Oil, Natural Gas, Corn, Soy, Canola, Adhesives, Synthetic Rubber, Coal, LNG, Renewable Natural Gas, Benzene, Carbon Black
Companies Mentioned:
Westlake Chemical, Dow, LyondellBasell, ExxonMobil, Nova Chemicals, Avient, PPG, Sherwin-Williams, bp, Shell, BASF,, Linde, Celanese, Valero, Idemitsu Kosan, Petrobras, SSE, Suncor, Air Products, Avantor, Daikin, Eastman Chemical, Sumitomo Bakelite, MOL, Mitsubishi Chemical, Mitsui, H.B. Fuller, Kem One, OMV, TPC Group, Reliance, Sipchem, Trinseo, Nexam, Equinor, LG Chem, Kinder Morgan, Kaneka, Lotte Chem, Petronas, Navigator Holdings, Enterprise Products, ICL, Albemarle, Lanxess, AkzoNobel, AGC, Azelis, BluePallet, Amcor, Covestro, Whiting, Maersk, Repsol, Magellan, Compass Minerals, Deep Polymers, DuPont, Elkem, Kuraray, Mitsubishi Gas Chemical, OCI, Osaka Soda, PetroChina, Samsung Engineering, Sappi, Showa-Denko, Toyo Engineering, Zochem, Unilever, Siemens Gamesa, Bloom Energy, Denbury, Air Liquide, Gevo, Monolith, JERA, Tokai Carbon, Peabody Coal, ArcelorMittal, TotalEnergies, Hempel, Neste, Honeywell, Kansai Paint, K+S, Firmenich, Petronet, MiRO, Nagae, Odfjell, Sika, Bunge, Coveris, Enphase Energy, Cyclyx, Ineos, GenCell, Inpex, Evergreen, Morningstar, PepsiCo, Coca-Cola, XPO Logistics, Astrotech, Orbia, Baystar, Sabic, PBF, Enbridge, Duke Energy, Rosneft, Chemours, Chemanol, EMS Group, Pemex, Interpipeline, Cosmo Energy, Borouge, Kumho Petrochemical, Kemira, Sensient, Unipetrol, Technip Energies, Ford, GM, Stellantis

C-MACC Sunday Thematic & Weekly Recap 105

Chemical demand may exceed most 2022 expectations

  • As companies report much stronger 4Q demand and a strong start to 2022, we question how much is real and how much is an inventory rethink.
  • A strong “protective” inventory build could maintain 2022 apparent demand well above expectations, even with a higher rate-driven spending slowdown.
  • We are concerned that an interest rate increase might not curb inflation – just move it from one industry sector to another – with energy driving most support.
  • We discuss the cost edge that the US has in the ethylene space and also how much more chemicals and energy the US could export to Europe if needed.
  • Otherwise, we discuss the challenges in the auto space and the inflation in used car prices, and we study why US natural gas demand could be higher in 2022.

Last week we discussed 34 Chemicals and related products and 127 Companies.

See PDF below for all charts, tables and diagrams

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