The Asian chemical market is preparing itself for one of its weakest third quarters. The Sinopec refinery and petrochemical complex in Qingdao has a bearish outlook on what looks like a long third quarter, according to Hellenic Shipping News.
Trading was further slowed down by poor results in the available macroeconomic data being reported. It was also evident during the June manufacturing activity that it's all very troubling.
The US-China trade disputes are to be blamed for eroding market confidence.
The vinyl acetate monomer market can even maintain supply as demand continued to be weak, evidence of how the trade dispute has affected everything. Outside of China, the situation is different as VAM plants continued to enjoy strong demand and a normal turnaround rate.
For instance, Taiwan's Dairen Chemical Corp will be adding runs to its 350,000 ton/year VAM plant in Singapore. The mission is to build up its inventory way ahead of a scheduled 45-day maintenance at the unit factory in October.
The styrene monomer market will be facing a season where supply outnumbers demand, given the current weak third quarter. It is also facing challenges from European supplies due to an open arbitrage window in effect since May this year.
As for the global market, it is expected to reach around $13.6 million by 2025, tracked from an amount of $9.3 million in 2017. The new market report data included figures from its "historic year" of 2016, according to rising Media. The base year of the calculation is 2017 and it covered a period from 2018 to 2025.
The chemicals market has some major players closely monitoring the situation. Some of them are DowDuPont, Platform Specialty Products Corporation, ELEMENTIS PLC., Atotech Chemetall GmbH, and Houghton International Inc. These companies were cited as some of those who have been taking a closer look at the chemicals market.
The report takes a look at the trending patterns as they develop, the prospect markets, and the commitment that investors have in these. It also completely looks at key seller organization profiles as well as their core capabilities. It is also a very avid screener of aggressive market advancements as well, to determine whether these are indeed accurate reports.
The global chemical market seems to have bucked the weakness that the Asian market is suffering. Ethylene is one such chemical which didn't share in the Asian decline, as it improved through the implementation of a tighter supply chain.
