Brexit update: What will be in the impact on the petrochemical industry?

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Although the UK economy has seemingly held up better than expected so far, IHS suspects that it will progressively lose momentum over the coming months like a slow puncture. The fundamentals for consumers will likely increasingly weaken as purchasing power is diluted by rising inflation, muted earnings growth and a softening labor market. Businesses are likely to be very cautious over investment and employment.

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FloChem Ltd.

At FloChem™ our core business is the distribution of bulk liquid chemicals. Our Total Chemical Management program includes the supply of bulk chemical storage tanks, fill lines, discharge lines, pumps and Vendor Managed Inventory Systems which include ultrasonics and off-site satellite monitoring.

OTHER ARTICLES

Sustainability: A Core Initiative for Collaboration in the Chemical Industry

Article | February 19, 2020

Legislation and pressure from stakeholders are forcing the chemical industry to find efficiencies and urgently seek out ways to reduce environmental impact, such as implementing low-carbon initiatives, maximizing energy and water efficiency and developing new innovative products and processes. Last month’s World Economic Forum added further urgency as shareholders and investment groups added new sustainability criteria to their investment considerations. As the pressure to improve sustainability rises, organizations like SusChem, the European Technology Platform for Sustainable Chemistry, are gaining visibility and traction.

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Coronavirus Impact on Fine Chemical Supply Chain

Article | February 19, 2020

Coronavirus, more accurately referred to as COVID-19, is beginning to impact global supply chains in a tangible way. Although it is impossible to forecast the effect of numerous epidemics worldwide on the fine chemical supply chain specifically, reports suggest that as much as 94% of the Fortune 1000 are already experiencing coronavirus-related supply disruptions. Fortune cites the devastating 2011 tsunami as a case study of how unforeseeable disasters can severely disturb supply chains with far-reaching ramifications. Damage to Mitsubishi Gas Chemical factories in the area affected by the tsunami led to a shortage of bismaleimide triazine (BT) resin; a critical material for electronic substrates.

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The Potential Dangers Of Living Near A Chemical Plant

Article | February 19, 2020

Plant explosion may feel like a familiar news headline to Texans. But why? It's not the case in other areas of the country. Why do explosions seem so prevalent here? A straightforward reason for the unusual number of explosions in Texas is the type of industries that drive its economy. Texas is the nation's leader when it comes to petroleum refining and chemical product production. Refineries and production plants handle volatile chemicals. Without proper monitoring and safety measures, dangerous explosions can result.

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CHEMICAL MANAGEMENT

Petrochemical buyers, after a very difficult pandemic, can gain from China-driven deflation

Article | February 19, 2020

BUYERS OF polypropylene (PP) and other polymers and petrochemicals have had an incredibly difficult pandemic. Firstly, the converters and brand owners expected doom and gloom last March. At the time it seemed logical to expect a cratering of demand as the global economy pretty much imploded. Just looking at forecasts for GDP, parallels were drawn with the Global Financial Crisis when collapses in growth led to a cratering of polymers demand. The US is a good example where PP demand declined by 12% in 2008 over 2007. Demand then fell by a further 5% in 2009 over 2008.But what we all missed was the complete dislocation of polymers and petrochemicals demand from GDP. As economies registered historic declines, consumption went up. PP demand went through the roof, firstly for food packaging and hygiene applications.Then consumption for the durable goods made from PP also smashed through the rafters as we bought white goods (PP is used to make components of washing machines), consumer electronics (PP is used to make some electronic components) and carpets (PP fibres are used here).

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Spotlight

FloChem Ltd.

At FloChem™ our core business is the distribution of bulk liquid chemicals. Our Total Chemical Management program includes the supply of bulk chemical storage tanks, fill lines, discharge lines, pumps and Vendor Managed Inventory Systems which include ultrasonics and off-site satellite monitoring.

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