Sunday Thematic & Weekly Recap

Brasnorealis – Son Of Lynolium – What sort of consolidation is key?
May 14, 2023
Commodities Mentioned:
Plastics, PVC, Polyethylene, Polypropylene, PU, PC, PET, Critical Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Ammonia, Ethylene, Methanol, Coal, LNG, Lithium, Wind, Solar, Fossil Fuels, EVs, Ethylene Glycol, Paraxylene, Biomass, Renewable Diesel, Fertilizer, SMRs, Fuel Cells, Electrolyzers, Water
Companies Mentioned:
LyondellBasell, ExxonMobil, Braskem, Formosa Plastics, CF Industries, Nutrien, LSB Industries, ADNOC, Dow, Chevron Phillips Chemical, BayStar, Nova Chemicals, Shell, Borealis, Origin Materials, Vertex Energy, OMV, INEOS, Apollo, Borouge, Aramco, Cabot, Indorama, Li-Cycle, Glencore, TotalEnergies, Berry Global, ConocoPhillips, Pembina Resources, Valero, PKN Orlen, Williams, Novonor, Evonik, IFF, Trinseo, Kinder Morgan, Neste, Cepsa, Tredegar, SK Global, Celanese, PPTGC, Livent, Allkem, Air Products, Bloom Energy, Qatar Energy, NEOM, NuScale Power, ICL Group, Asahi Kasei, X-Energy, PureCycle, Rivian, RWDC Industries, Boeing, Petrobras, EOG Resources, Coterra, Lummus Technology, Saudi Aramco, Tellurian, Toyota, Verdeco, Compass Minerals, NextEra Energy, LANXESS, Denbury, Chevron, Talos, Enbridge, Methanex, Oxy, Indorama Ventures, Amazon, Vertex, Albemarle, Sasol, Plug Power, Westlake, Shin-Etsu, Zhejiang Petrochemical, Brenntag, Univar, Vopak, Messer, BASF, Petro Rabigh, Bayer, Daicel, BP, Aarti Industries, Excelerate Energy, Orica, Nippon Sanso, Fuso Chemical, Lotte Chemical, Kao Chemicals, Petronas, Olin, Orbia, SABIC, Motiva, Lonza, Kuraray, Symrise, HIF Global, Johnson Matthey, Honeywell, Nippon Shokubai, Mitsui Chemicals, Mitsubishi Gas Chemical, Kureha, ABC Technologies, Toray Industries, CuRE Technology, Aker Carbon Capture, DRAX, Hy Stor Energy

C-MACC Sunday Thematic & Weekly Recap 168

Brasnorealis – Son Of Lynolium – What sort of consolidation is key?

  • As Apollo and ADNOC take a look at Braskem, we note that consolidation always occurs in a chemical downturn, but this deal looks hard if synergies are the goal.
  • We have also noted that integration into captive hydrocarbons is likely more important for both chemicals and feedstock suppliers now – this deal misses that.  
  • The rise of China has significantly lowered the global market shares of even the largest basic chemical producers, and most combinations would be approved.   
  • We highlight again the feedstock advantages of the US versus China today, even if crude oil prices are weakening – we still believe that OPEC+ will keep prices high.
  • Otherwise we look at carbon black, consolidation in lithium, why we continue to like PVC, and why further weakness in China is likely to make 2023 a poor year

Last week we discussed 33 Chemicals and Related Products and 120 Companies.

See PDF below for all charts, tables and diagrams

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