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IHS: General rebound in demand for construction vehicles

ihs: General rebound in demand for construction vehicles

January 29, 2015

[China paint information] the latest report of IHS chemistry pointed out that the income and profit of the specialty chemicals industry should grow steadily in 2015. This is because the demand in the end market continues to be strong, while the sharp decline in oil prices has reduced the cost of raw materials. IHS chemical predicts that before 2018, the global market for specialty chemicals will grow at an average annual rate of 3.8%, of which North America, Western Europe and Japan will grow at an average annual rate of 2%. This growth rate is slightly higher than that of global GDP in the same period. Major specialty chemicals, including coatings, personal care products and health and nutrition products, will grow in 2015

positive: demand for construction vehicles and other products rebounded generally

for all regions of the world, the prospects of the special chemicals market in 2015 vary, but one region is considered to have the most advantage, that is, North America. "The market prospect of specialty chemicals in North America is promising. This is because North America has the cost advantage on the one hand, and the demand is growing rapidly on the other hand," said craigrojason, chairman and CEO of keyua

Joe Harlan, vice president of Dow Chemical in charge of marketing business, said: "the rebound of the construction and automotive industry in North America will continue to benefit the specialty chemical producers in the region. In 2015, the residential and non residential demand in North America is expected to grow at a rate of about 5%."

the outlook outside North America is very different, depending on region and industry. For example, kejuya's business in China is relatively sluggish, because the company's business in China is mainly concentrated in the still weak electronic product market. The European economic downturn and weak domestic demand restrict China's electronics industry. Rogerson said: "the promotion of China's economic growth depends more on internal consumer demand, but so far there has been no significant change.

"I am not worried about the situation in China. Although China's economic growth has slowed down slightly, the economic growth rate of 6% ~ 7% is still very good. China, the United States and Mexico are the three largest markets with the strongest performance in PPG industry. PPG industry's customers in China are mainly in the coating business. Global coatings understands that this field is benefiting from the continuous growth of China's consumer demand for automobiles, furniture and electrical. PPG industry is seeking stability in the coating business Fixed growth. Macquarie said that the mass production of new aircraft of Boeing and Airbus meant that their aviation coating business would have a very strong growth. OEM continued to perform well. However, the performance of the company's packaging coating business is weaker than that of the automotive, aviation and architectural coatings business, but the growth is still expected

the strong performance of the automotive market will benefit most specialty chemicals, not just coatings. The assembly and disassembly of Roger servo valve should be carried out in a clean environment as far as possible. Sen said that the increase in automobile production and new engine technology are good for the lubricant and flame retardant business of kejuya company. At the same time, more electronic products are being used in automobiles. These electronic products usually need better flame retardants. This will create opportunities for the flame retardant industry

at the same time, in the past, such high modulus counterparties as Fumei could only produce yellow products. The company predicted that the demand for health and nutrition business would grow steadily, and the growth rate of demand for agricultural chemicals would be relatively stable. Pierre brondeau, CEO and chairman of the board of directors, said that bad weather in 2014 affected the growth of agrochemicals. However, due to the oversupply of some key crops, it is expected that the agrochemical market in 2015 will be basically the same as that in the previous year

uncertainty: the decline of oil price may lead to economic weakness

although the sharp decline of international oil price has more advantages than disadvantages for the special chemical industry, it will also bring some uncertainty. For example, oil field chemicals with good growth momentum in recent years will encounter cold current. According to the American Chemical Council (ACC), the oilfield chemicals industry experienced double-digit growth in most of 2014, but the recent rapid decline in oil prices will have a greater negative impact on the industry. Emmanuel butstraen, chairman of Solvay Novecare, said that at that time, with the support of Bayer, the company used the equipment in the port area to produce caprolactam for the first time. The company has invested a lot of money in the field of oilfield chemicals, but the current prospect is difficult to predict

for other specialized chemicals, the impact of the decline in oil prices may depend on the factors behind it. Although cheap oil should reduce the cost of raw materials, the global economic downturn may lead to a decline in market demand. Rogerson said: "the rapid decline in oil prices may indicate a weak global economy, which is obviously unfavorable to us. If the oil price falls gradually, it is good for specialized chemical companies, but this rapid decline may mean further weakness of the global economy or financial crisis. Although the economic growth in some regions has been lower than expected, the decline in oil prices may spread to other regions."

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