Shale boom continues to boost US chemicals industry
The U.S. shale gas boom, which gathered pace during the early part of this decade, has provided the American domestic chemicals sector with a significant competitive advantage compared to other chemical producing nations around the world, according to Oxford Economics. The independent advisory firm concluded that the American petrochemicals sector’s output is set to benefit the most from this windfall.
The boom in domestic shale gas production lowered input costs for the US chemical industry, providing it with a significant competitive advantage, which will support robust production growth ahead.
Rise in Asian markets means more demand for engineering plastics, analysis finds
A recent Frost & Sullivan analysis finds that rapid urbanization and rising purchasing power in Asia, particularly China, India and South Asia, have resulted in booming demand for engineering plastics in automotive, electronic and construction development segments. The market is forecast to reach $104 billion by 2024, with a compound annual growth rate (CAGR) of 5.4 percent between 2017 and 2024.
Market research firm expects PVC production expected to increase through 2025
The market research firm Ceresana expects the total production of polyvinyl chloride (PVC) pipes manufacturers to increase by, on average, 3.7 percent per year until 2025. The highest growth rates are likely to be registered by agriculture PVC pipes as regular irrigation of agricultural crops continues to gain importance due to climate change.
In terms of the building and construction sector, the outlook for important markets like China and Russia has brightened again, according to the firm.