Sunday Thematic & Weekly Recap

No crystal ball? No worries – It won’t work for 2023!
December 18, 2022
Commodities Mentioned:
Plastics, PVC, PP, PE, PU, PC, PS, PET, Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Ammonia, Carbon, Fossil Fuels, Renewable Power, Wind, Solar, Geothermal, Hydro, Nuclear, Steel, Fertilizer, GHG, RNG, Renewable Diesel, Batteries, EVs, Ethylene, Water
Companies Mentioned:
Dow, LyondellBasell, ExxonMobil, CP Chemical, Baystar, Shell, Oxy, Westlake, Shin-Etsu, Formosa Plastics, Orbia, Olin, CF Industries, Nutrien, Yara, LSB Industries, CNOOC, Aramco, Air Liquide, DSM, INEOS, Tronox, Clariant, Cummins, Linde, Repsol, Naturgy, Reganosa, Petronas, Emerson, Synthomer, Phillips 66, Novozymes, Konoshima Chemical, INOVYN, KEM ONE, Nobian, Covestro, Gulf Resources, Sipchem, SK Innovation, Sulzer Chemtech, Evonik, Siemens Energy, Oxbow Crush, Maersk, Chevron, Versalis, Wanhua, NextEra Energy Resources, Pertamina, Electra, Cleveland-Cliffs, Saint-Gobain, Matheson, Freeport LNG, Cyclyx, Petro Rabigh, REV Group, Weber, Delta, DCW, Albemarle, Lithium Australia, Redwood Materials, BASF, Tesla, Vestas, GE, Hyundai, Air Products, Denbury, Enverus, Talos, Gulf Coast Sequestration, Climeworks, Mura Technology, Cameron LNG, Entergy, Borealis, AES, Green Rock, CHS, TotalEnergies, Mitsui & Co., Thyssenkrupp Uhde, Arkema, Uniper, Honeywell, Johnson Matthey, Sika, EcoBlue, Kumiai Chemical, Ultium Cell, American Potash, Minbos Resources, MEGlobal, StePac, Eni, Williams, Vision RNG, Waste Connections, Schnitzer Steel, Enterprise Products, CubicPV, Orion Engineered Carbons, Plug Power, Navigator Holdings, Svante, Energy Transfer, Bachem, Henkel, Arieca, Hanwha Solutions, Nucor, ACE Green Recycling, Indorama Ventures, Idemitsu, Petrobras, Northvolt, TC Energy, Asterion Energies, Rio Tinto, US Steel, Equinor, Proman, GS Caltex, Brenntag, Biffa, D.R. Horton

C-MACC Sunday Thematic & Weekly Recap 148

No crystal ball? No worries – It won’t work for 2023!

  • Client discussions focus on what to expect in 2023: we know what the unknowns are, but the possible outcomes around each make projections very challenging.
  • The likelihood of the chemical industry making more money in 2023 than in 2022 is very low, with the probability of losses higher, especially in Europe, in our view.
  • China is a major wildcard for 2023, but the behavior of national oil companies is likely the longer-term wildcard and a grave risk to independents in chemicals.
  • Ammonia remains a bright spot, with potential demand as a fuel possibly driving growth rates that several parts of the new plant supply chain will struggle to meet.  
  • Natural gas demand for LNG is driving surpluses of NGLs in the U.S., which also encourages more chemical capacity additions – oversupply is here and may stay.

Last week we discussed 31 Chemicals and related products and 130 Companies.

See PDF below for all charts, tables and diagrams

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