Benzaldehyde Prices to Shot up in Q1 2022 as China Prepares for Winter Olympics

China’s clamor for blue skies in order to have more aesthetic appeal for the impending Winter Olympics have created clouds of uncertainty over production rates in heavy industry enterprises. This has resulted in market speculations around material availability of several key materials in the upcoming quarter. In lieu of that, prices of Benzaldehyde are expected to climb in coming months.   

Winter Olympics 2022 are scheduled in early February next year. Aware of the dire environmental situation across China, authorities have been highly proactive. Ministry of Environmental protection has noted some critical areas and has been taking some stringent steps in the concerned areas. As per latest information, North China, Huaibei, and West China are the most polluted areas and need considerable transformation.

There has been consistent news around preemptive operating rate cuts and plant shutdowns in heavy industries to cut emission rates and enhance overall watching experience aesthetically. Rate cuts and shutdowns are planned from the beginning of the new year till 1st week of March 2022.

Uncertainty around feedstocks availability in coming months have sent shockwaves in Benzaldehyde market where market participants are expecting strong price spike in coming months. Benzaldehyde, highly versatile petrochemical, found its varied use across a spectrum of industries ranging from pharmaceutical to dye and paints industry. Toluene, a key feedstock for Benzaldehyde, is likely to face the brunt of the shutdown and rate cuts.

As per ChemAnalyst, “upcoming shutdowns and production disruptions are likely to cause a wave of uncertainty around the petrochemical availability in the coming quarter. Benzaldehyde along with several other chemicals and petrochemicals are likely to face lopsided supply dynamics in coming months. However, production levels are likely to improve in Q2 which is anticipated to balance the market fundamentals after skewed Q1.”

   

 

  

Comments

Post a Comment

Popular posts from this blog

Global Poly Vinyl Chloride sentiment shivers on growing demand concerns

Image
Poly Vinyl Chloride sentiment has recently showcased mixed sentiments across global markets due to growing demand amid many factors that weigh on consumption in the month of April. The world’s largest PVC producer, China, has been partly experiencing pressure as the resurgence of Covid has hit demand for Poly Vinyl Chloride . Additionally, import offers in Turkey and Egypt markets have already seen a downward trend for the product. China’s domestic PVC market reflected weak demand conditions amid the extended lockdowns in Shanghai as prices softened this week. Manufacturers indulged in procuring stable offtakes in the domestic market as delays in export activity due to a shortage of containers for shipment led to a reduction in prices of several commodities, such as PVC. The activity was limited as players had put up a wait-and-see attitude before the announcement next week. The European Spot PVC market showcased a high price trend in comparison to other regions amid ongoing geopolit...
Read more

Acrylonitrile market follows divergent trends across the globe

Image
The market for Acrylonitrile has been depicting contrasting trends at different latitudes on account of distinct upstream cost and downstream demand in different territories. Acrylonitrile, produced from ammoxidation of propylene, is the upstream for ABS and Acrylic fibres. Hence, the fluctuations in the demand or prices of propylene and ABS majorly influence the market for Acrylonitrile. The Asian countries are witnessing a complete turnaround of Acrylonitrile prices from the other parts of the world, making them an exception. In Asian countries, the price of Acrylonitrile is falling, owing to the ample supply of upstream propylene. The stable to marginally lower demand for Acrylonitrile Butadiene Styrene (ABS) has also supported the price drop of Acrylonitrile in Asia. The numerical data from the continuing week confirmed the reports about this price dip. The evaluated price value implied a decrement of USD 5/MT from Monday to Tuesday in the ongoing week at FOB Korea and CFR China...
Read more

Agilyx Partners with Kumho Petrochemical on Chemical Recycling Plant in South Korea

Image
 Agilyx Corp. which is a major plastic recycling company in the United States, has announced a partnership with Kumho Petrochemical which is a manufacturer of synthetic rubber in South korea to develop and construct a chemical recycling facility in South Korea. The project will be using Agilyx’s unique and novel chemical recycling technology for the production of pure Styrene from post use Polystyrene price . The Styrene obtained from recycling will be used as virgin equivalent raw material to produce Solution Styrene Butadiene Rubber (SSBR) which is a major component for manufacturing tires. The project would include a new application for Agilyx’s  Polystyrene market demand price   depolymerization technology which is introduction of a new pathway for converting Polystyrene into SSBR. Agilyx is an early market leader in the advanced recycling of post use plastics which are difficult to recycle. Agilyx’s chemical recycling technology includes recycling of mixed plasti...
Read more