Demand also witnessed prominent recovery from solvent and pharmaceutical applications but still remained way below pre pandemic levels. Container shortage exacerbated the supply crises in the region and consequently laid a direct influence on its prices. However, traders remained optimistic that the supply imbalance would surely reduce by the end of February.
North American LNG exporters seemed more confident about upcoming projects due to a sharp surge witnessed in the global prices because of soaring Asian demand. With spot LNG prices in Asia witnessing nearly six years high, US LNG operators showed greater interest in long-term supply deals that could enable developers to build new export plants. U.S. LNG exports set a fresh record in December, averaging around 9.8 billion cubic feet per day.
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The North American region faced improved demand for Urea during the quarter, but due to the shortage of feedstock chemicals, prices remained high. Several feedstock Ammonia plants remained idled with several other production units across the gulf coast as an effect of winter storm.
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The pricing curve remaining largely flat as the market kept quiet amidst battered economy. While improvement in derivatives demand from the construction sector and the automotive sector served well for regional suppliers, dullness in the packaging sector kept the sales pressured.
FOB US Gulf prices of IPA, which remained the star product of 2020, surged to USD 1300 per MT amid higher shipping costs observed particularly for containers from Asia and firming Acetone values.
Firm demand for Stearic Acid from the polymer and textile industry has sustained its rich market sentiments in Europe. As European Union is eyeing to reduce the imports of palm oil as it leads to increased deforestation activities, concerns of stressed availability of the feedstock has provided a forward push to the prices of Stearic Acid in the regional market.
However, imports from the Middle East remained restricted due to resumption of operations at lower refineries in China, which created ample product availability at competitive prices. Business activities which showed marked recovery during Q3 amid the news of vaccine roll-out by Q4 have created a positive sentiment in the regional market.
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Fall in prices affected most of the oil producing companies and thousands of people lost their jobs. Although Storm Zeta in the Gulf of Mexico temporarily eased the fall in its prices due to the forced measured declared on several production facilities of that region. Number of rigs in USA increased by the end of the quarter but USA as well as Canada was heard looking forward to slow down the crude oil production in upcoming years just to reduce their carbon emission.
The cracker has Propylene production capacity of 600 KTPA. In addition, Yeochun NCC (YNCC) and SK Global Chemical were heard starting turnarounds for their crackers from August to October. With producers highlighting tight regional supply, CFR China Propylene prices were assessed at the USD 900 per tonne levels in mid-September. Demand for Propylene Derivatives was seen gaining strength by the end of into Q3.
Price of Polybutadiene Rubber (PBR) in the Asian market surged amid tight feedstock supplies in H1 of Q4, meanwhile later in the quarter, upstream supplies were heard easing to an optimum level. An unexpected shutdown at China’s Sinopec Zhongke’s new 120 KTPA Butadiene unit created hindrance in the raw material availability. In the first half of the quarter, PBR prices spiked in response to firming raw materials and tight supply situation. With producers directing their supplies largely in the automotive sector, Chinese PBR producers reported renewed pressure over the production margins following the price spike.
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India experienced a significant growth in its overall textile exports by around 6.3% in October 2020 compared to the previous year. Furthermore, festive season showed some further growth in the Indian textile industry in November that induced a direct impact on the demand of NFY. The Indian NFY industry witnessed increase in prices with soaring feedstock Caprolactam and tighter global supply as the key producer’s concerns. Ex-Depot price for NFY 40/24D grade was assessed around USD 3340 per MT in India during the first half of December.
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PMMA supply remained lengthened during Q3, with no supply-side issues observed across the European market. Arkema, one of the top three producers of the resins in Europe and North America, reported a sharp rise in its quarter-on-quarter financials buoyed by improved PMMA sales with an inclining automotive demand. However, the demand for PMMA protective screens, which hit unprecedented highs in Q2 was seen easing in Q3 with substantial recovery observed in other end-uses (such as construction and automotive). September contract prices settled at an increase after maintaining stagnancy due to firming MMA.
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In this report, we studies the present scenario (with the base year being 2017) and the growth prospects of global Cold-end Exhaust System market for 2018-2023.
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Exhaust Systems Market categorizes the Global Market by After Treatment Device (DOC, DPF, LNT, SCR & GPF), Fuel Type, Component (Manifold, Downpipe, Catalytic Converter, Muffler, Tailpipe, Sensor), and Region, Aftermarket by Component & After Treatment Device
In this report, the United States Motorcycle Slipon Exhaust Systems market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
The report "Exhaust System Market by After-Treatment Device (DOC, DPF, LNT, SCR, and GPF), Aftermarket (DOC, DPF, and SCR), Vehicle Type (Passenger Car, LCV, HCV, Construction Equipment, and Agriculture Tractor), Component, and Region - Global Forecast to 2025" The exhaust system market is estimated to be USD 84.8 billion in 2018 and is projected to reach USD 128.2 billion by 2025, at a CAGR of 6.08%. The increasing vehicle production and stringency in emission norms are projected to drive the exhaust system market
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However, some anticipated the prices to ease with the arrival of the peak harvest season, in the Aug-Sep period. Limited upstream stocks in Indonesia and Malaysia tightened the supply of oleochemicals across Southeast Asia with some buyers waiting for the feedstock prices to soften till August-end to support production margins.
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