ICIS - World Chemical Profiles 2022-2023

The 2022-2023 Special Edition of Chemical Profiles provides valuable insights into the state of the chemical market during this period. The report notes that the market experienced a continued bull market, with prices for all categories of business rising above €1,600/tonne free delivered (FD) NW Europe. However, contract prices were mostly on a downward trajectory through H1 2023, predominantly due to decreases in the natural-gas led ammonia and naphtha-driven propylene markets. The report also highlights that the dominant process for chemical production is methanol carbonylation, which accounts for more than 65% of world capacity. In terms of supply and demand, there was sufficient supply at the start of Q1 2023 with some length developing in February, but some tightness was also in the mix. A stable flow of imports was maintained into Europe, however there was some slowdown due to Asian prices rising. Consumption had started off being soft reaching very low levels for some at the start of Q1 2023 partly linked with a reduction in requirements from insulation panels. There was some stability into the later months, with some sentiment of reasonable demand. Overall, the report provides a comprehensive overview of the chemical market during this period, including trends in prices, production, and demand. It is a valuable resource for anyone interested in the chemical industry and its current state.