Sunday Thematic & Weekly Recap

Hi! Can I Sell You Some Polymers – Please!
July 10, 2022
Commodities Mentioned:
PVC, Polypropylene, Polyethylene, Polyurethane, Polycarbonate, Polystyrene, PET, Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Ammonia, Lithium, Nuclear, LNG, Copper, Wind, Solar, EVs, Batteries, Methanol, Biofuels, Materials
Companies Mentioned:
Enterprise Products, Dow, LyondellBasell, ExxonMobil, CP Chemical, Westlake, Shin-Etsu, Occidental, Kraton, Invista, Goodyear,, Braskem, Formosa Plastics, Inter Pipeline, Shell, Borealis, Nova Chemicals, AGC, BKV, Freeport LNG, Perstorp, Fortum, Uniper, ADNOC, Equinor, Versalis, Thyssenkrupp, Schlumberger, Baker Hughes, Halliburton, NextDecade, TechnipFMC, AkzoNobel, Arkema, CF Industries, Eneos, Covestro, Bloom Energy, Gail, Lanxess, Ravago, Varo, Walmart, Ford, Loop Energy, Wacker, Rivian, Yara International, Cheniere, Fluor, Brookfield Business Partners, Nutrien, Keurig Dr Pepper, BASF, Ineos, Danimer Scientific, Element Materials, Samsung Electronics, Samsung Engineering, Air Products, VPI, New Fortress, Entegris, CMC Materials, Advent Technologies, Fisker, Kilroy Realty, 3M, Maire Tecnimont, Cyclyx, Orsted, Tianqi Lithium, WuXi STA, GACL, TotalEnergies, Whitecap, Sekisui Chemical, Shiseido, Sumitomo Chemical, Helen of Troy, The Buckle, Celanese, Olin, Orbia, ADM, The Andersons, Huntsman, OMV, ICL, Advanced Petrochemical, Petrobras, Axens, Heartland Polymers, BCI Minerals, Black & Veatch, Nordex, NuScale Power, Tesla, Boeing

C-MACC Sunday Thematic & Weekly Recap 125

Hi! Can I Sell You Some Polymers – Please!

  • After a favorable US chemical sector profitability period following the “shale boom”, a test may be ahead – a few pre-shale sector trends are worth considering.
  • Polymer fundamentals weakened in 2Q22, and energy prices were high, pushing margins lower – US profits could fall much further, not including the worst case.
  • The US base chemical industry will unlikely control its medium-term destiny, with oil and gas fundamentals and policy likely the most critical sector drivers.
  • The long-term sector outlook is more favorable, as uncertainty has limited some capital investment, and demand in some product chains may exceed expectations.      
  • Otherwise, we look at the momentum behind new LNG investment decisions in the US and compare it with an equally tight refining industry but not spending. 

Last week we discussed 27 Chemicals and related products and 99 Companies.

See PDF below for all charts, tables and diagrams

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