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The global economy recovers, and the chemical industry's capacity utilization rate has reached 87.5%

According to news on March 21, according to data collected and compiled by the American Chemistry Council (ACC), global chemical production increased by 1.4% in January, slightly lower than in December, continuing the global recovery that began in June.   In January, the output of chemical products increased in all regions. Overall global production increased by 9.5% year-on-year on a 3-month moving average. In January, global production capacity increased by 0.1%, a year-on-year increase of 2.0%. With the increase in production, the global chemical industry's capacity utilization rate rose by 1.1 percentage points to 87.5%. This is much higher than the level in January last year and also higher than the long-term average of 86.3% (1987-2019). In the chemical industry sector, the results in January were positive, with gains in all sectors. Taking into account the comparison of the same period last year, the output of all departments has increased.   According to MRC data, the U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.8% in January of this year after rising 1.4% and 1.1% in December and November last year. In January, chemical production increased in almost all regions. The Gulf Coast region saw the biggest gains, while the Midwest, Southeast, Ohio Valley, and Northeast regions saw smaller gains. Production was flat in the mid-Atlantic region, while production on the west coast declined slightly.   As previously notified by MRC, high-density polyethylene (LDPE) sales in the United States and Canada in January 2021 increased by 3.8% compared to the same period last year. Over the same period, LDPE production increased by 5.2%. Exports fell by 0.7%, but total sales increased by 2.3%.   At the same time, high-density polyethylene (HDPE) sales in the United States and Canada in January 2021 increased by 5% year-on-year. During the same period, HDPE production increased by 1%. With the continuous growth of US manufacturing activities, the demand for durable consumer goods has been strong since the second half of 2020, and domestic demand for HDPE has increased in recent months.  

2021

03/26

Global organic silicon production capacity is expected to reach 3.651 million tons in 2023

According to monitoring data, in 2020, the global organic silicon production capacity will exceed 3 million tons/year (in terms of siloxane, the same below), an increase of 155,000 tons/year year-on-year, and all new production capacity in 2020 will be concentrated in China.   China's organic silicon production capacity expansion plans are very aggressive in the future. If all the new projects are successfully completed and put into operation, the global silicone production capacity will increase by more than 60% to 4.915 million tons/year, while China's silicone production capacity will increase by nearly 130% to 3.399 million tons/year. By then, China's organic silicon production capacity will increase from 50% increased to nearly 70%. However, there is a big uncertainty as to whether the newly planned projects can be completed and put into production. According to industry professionals, the capacity of the above-mentioned projects that can be completed and put into production is about 650,000 tons/year. It is estimated that in 2023, the global organic silicon production capacity will reach 3.651 million tons/year, and China's organic silicon production capacity will reach 2.289 million tons/year.   Silicone is widely used in almost all industrial fields and high-tech fields such as construction, textiles, electronics, transportation, aerospace, new energy, medical, daily chemicals and personal care. It is an indispensable material in modern industry and daily life , Therefore, the growth of organic silicon demand and GDP growth (economic growth) are highly correlated. According to historical data analysis, the growth rate of global organic silicon demand is generally 2% to 3% higher than the GDP growth rate over the same period.   It is expected that the global organic silicon demand will continue to grow rapidly in the future, and the main driving factors include: global economic recovery. With the expansion of the scope of new crown vaccination, the impact of the epidemic on the world will gradually fade in the future, and a greater recovery of the global economy will be a high probability event, which will drive the growth of silicone demand.

2021

03/18

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