The Weekly Catalyst

Global Chemical Update – The Hand That Feeds
April 3, 2023
Companies Mentioned:
LyondellBasell, Dow, Nova Chemicals, INEOS, ExxonMobil, Westlake, Enterprise Products, Navigator Holdings, PPG, Trinseo, BASF
Commodities Mentioned:
Report Sections:
Feedstocks & Energy, Global Ethylene Cracker, Spot Profit Analysis, Ethylene & Propylene, Price Trends, Polyethylene Review, Other Relevant Global Polymer Trends, Other Relevant Global Chemical Trends, Global Chemical Data Sheets, Flow Charts & Other Ancillary Data

The Weekly Catalyst

Global Chemical Update – The Hand That Feeds

Key Points:

  • North American petrochemical producers saw the global cost curve shift in their favor in 1Q23. News of OPEC supply cuts kicked off 2Q23 with a bang, elevating relative Europe and Asia chemical costs.
  • Chemical demand not keeping pace with supply will be a challenge for producer profitability in 2023. However, those lacking a cost advantage or supply outlet are much worse off than those having either.
  • We view the European industry as the most “at risk” region and non-integrated buyers of crude-linked chemicals, such as benzene and propylene, as facing more risk than natural gas-linked products.


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