The global economy came to a virtual standstill in the first half of 2020 as countries introduced lockdown measures in a bid to control the COVID-19 virus. As a result, there were fewer cars on the road and therefore less demand for fuel. This forced refineries for both crude oil and biofuels to turn production down.
This caused a collapse in crude oil values, since supply took many weeks to adjust to the fall in demand, which made biodiesel uncompetitive. The resulting fall in biodiesel demand and consequently production meant that its by-product glycerol became in short supply. Glycerol is a key ingredient for hand sanitiser and demand has soared during the pandemic, with prices, in some cases, almost tripling in value compared to early 2020.
Jennifer Hawkins
Consultant – Phenol, Acetone, Epoxy Resins, Epichlorohydrin
Phone: +44 207 924 3955
jennifer.hawkins@orbichem.com
SUBSCRIPTION SERVICES
- CHEMICAL BUSINESS FOCUS
A MONTHLY ROUNDUP & ANALYSIS OF THE KEY FACTORS SHAPING WORLD CHEMICAL MARKETS
Compiled by a global team of dedicated consultants, Tecnon OrbiChem’s famous ‘newsletters’ contain detailed and incisive analysis of key global petrochemical market sectors.
- ON-LINE DATABASES
COMPREHENSIVE, ON-LINE DATA & STATISTICS. HISTORY, FORECASTS & ANALYSIS
Convenient to access and simple to use, Tecnon OrbiChem’s on-line databases provide comprehensive capacity, supply/demand and trade analysis of the world petrochemical industry, with forecasts to 2030.
- CHEM-NETFACTS
CHEMICAL MARKET INSIGHT AND FORESIGHT – ON A SINGLE PAGE
The Chem-Netfacts service comprises a succinct summary of the past month’s activity and an assessment of short term price trends in individual product markets. Commentary, analysis, prices and graphs – all on one page.
- CHEM-FORESIGHT
PRICE PROJECTIONS – SET IN CRUDE OIL PRICE SCENARIOS
Chem-Foresight provides price forecasts for chemical products by quarter over the next 18 months, for the USA, Europe and Asia (usually East Asia). Forecasts are provided both as tables and graphics, for three crude oil scenarios, low, base case and high, with a short commentary on the supply-demand situation.
Contact info@orbichem.com for more information
FOLLOW ME ON THESE SPACE
Discussion
Comments are closed.