[SUMMARY] What’s up with the Chemical Industry? Monthly Summary – May & June 2023

Hi there guys!

It’s been some time since we don’t check out the industry! Let’s see whatsup with the industry in this 2 months (mauy-june).

For these 2 months, we will focus mostly in the Electrical Vehicle Batteries World.

And, as usual, we’ll cover this topics:

  • Chemical Industry News
  • Chemical Industry Stocks & Markets
  • Industry Technology & Trends
  • Catching Up With Social Media Trends
  • Product of the Month
Subscribe to My Newsletter So You Get All the Most Relevant Monthly News

Chemical Industry News

Ineos to buy TotalEnergies’ interest in cracker: Ineos is acquiring TotalEnergies’ 50% stake in a petrochemical complex located in Lavéra, France. Through this deal, Ineos will gain sole ownership of a large ethylene cracker with a capacity of 720,000 metric tons per year, making it one of the largest ethylene units in Europe. Ineos has been the primary customer at the Lavéra site, where it has been producing ethylene derivatives like polyethylene and ethylene oxide. (read more)

Evonik Launches New Ester Enhancements in the U.S: a prominent production partner for The Chemical Company, has launched its innovative plasticizer called TINTM in the global market. Although TINTM is not entirely new in the plasticizer industry, its introduction as an end-use product represents a significant development for Evonik. This move capitalizes on Evonik’s strong presence in the INA sector of Europe and demonstrates the company’s progress (read more)

Albemarle to build $1.3 billion US lithium refinery : Albemarle has chosen South Carolina as the location for a $1.3 billion refinery that will manufacture lithium hydroxide, a crucial component in electric vehicle batteries. The facility is projected to start operations in 2027 and will initially produce 50,000 metric tons per year, with the potential for expansion up to 100,000 tons.

Currently, the largest lithium refinery in the United States has a production capacity of 15,000 tons per year. Albemarle’s refinery will process both recycled materials and ores from mines, including a mine that the company aims to open approximately 60 kilometers north of the refinery site.(read more)

  • Quiet Stock Market Bull Rally and Crude Decreases to Begin June: Despite concerns over recessions, inflation, and rate hikes, the stock market witnessed a substantial bull rally in June, surging by 20% since October 2022 lows. This surge indicates positive signs for future growth. Despite negative headlines, the economy has shown resilience supported by strong corporate earnings and declining oil prices. A market strategist sees this new bull market as a potential catalyst for further growth and positive momentum. With decreasing oil prices and these encouraging indicators, the current bull market is likely to sustain its upward trajectory, providing a more optimistic outlook despite ongoing challenges. (read more)
  • South Korea removes import tariffs on naphtha, crude oil for petrochemical feedstock: Government aims to lower feedstock cost burden, tame inflation; tepid Asian margins likely to limit naphtha demand, imports. (read more)
  • Sinopec starts up green hydrogen plant in China: Sinopec has commenced production at its green hydrogen pilot plant in northwest China, boasting a capacity of 20,000 metric tons per year. The company claims this makes it the world’s largest solar hydrogen project.
  • The produced hydrogen will be utilized by Sinopec at its nearby Tahe Refining & Chemical complex, replacing the use of hydrogen derived from fossil fuels. This move demonstrates Sinopec’s commitment to transitioning to cleaner and more sustainable energy sources. (read more)
  • LyondellBasell completes acquisition of Mepol Group: Mepol operates plants for recycled compounds in Italy and Poland; will be part of LyondellBasell’s advanced polymer solutions business. (read more)

Chemical Industry Stocks & Markets

[DISCLAIMER: This is NOT a financial recommendation. All investment and financial decisions you
make, should be done with a certified professional . This is just for informational purposes]

  • ExxonMobile XOM : XOM -3.73% Oil giant Exxon Mobil was hit hard after predicting a massive $4 billion hit to its earnings, resulting in a decline in its stock price.
  • Caravana CVNA: Carvana’s shares surged over 16% Monday. In an exciting announcement, Carvana revealed its anticipation of exponential growth in the used electric vehicle segment. As consumer demand for EVs skyrockets, Carvana could be poised to capitalise on this trend
  • Rivian RIVN: RIVN 3.28% Investors who held onto Rivian stock are reaping the rewards as the electric vehicle maker’s stock skyrockets. In the past nine sessions, shares have surged almost 90%, closing at $25.51 on Monday. Positive catalysts, like meeting production and delivery targets, have boosted the stock, leading to a price target increase to $30.
  • SHELL SHEL: 1.9% Shell, the energy giant, has cautioned that the gas division’s trading for the past three months will be “noticeably lower” as compared to the prior quarter. The London-based oil and gas company mentioned that trading was impacted by seasonal factors in Q2 2023.
  • First Solar FSLR: FSLR 3.28% First Solar, the prominent solar company, climbed after securing a five-year revolving line of credit and obtaining a guarantee for a $1 billion facility. Notably, JPMorgan will serve as the lead arranger for First Solar, bolstering the company’s financial position.

Crude Oil OIL: OIL 0.03% Oil demand will slow, as higher prices and global events push us away from fossil fuels. The IEA predicts growth this decade will be halved by 2024, and gasoline demand will decrease as EVs supplant cars. Markets will stay “adequately supplied” until 2028.

Industry Tech Trends

Read Full Glob Post

Let’s talk about EV and their batteries… and why? Well: Electric vehicle (EV) batteries are of significant importance to chemical engineers due to their central role in the advancement of sustainable transportation.

Lots of Engineers are in charge of the manufacturing, production and design of these products, BUT, the Chemical Engineer contribute to the development, optimization, and production of EV batteries, playing a crucial part in improving their performance, energy efficiency, and safety.

ChemE’s are involved in research and development of:

  • Battery materials
  • Electrode design
  • Electrolyte formulations
  • Manufacturing processes & much more!

Chemical engineers also focus on optimizing battery: performance, enhancing charging capabilities, and extending battery life.

Here, a list of the most relevant Technologies on EV Batteries:

  • Lithium-ion Batteries:
    • Lithium-ion (Li-ion) batteries are the most prevalent type of battery used in EVs today.
    • They offer high energy density, allowing for longer driving ranges, and can be recharged hundreds to thousands of times.
    • Within the category of lithium-ion batteries, there are different variations, such as lithium iron phosphate (LiFePO4), lithium nickel manganese cobalt oxide (NMC), and lithium nickel cobalt aluminum oxide (NCA).
  • Nickel-Metal Hydride (NiMH) Batteries:
    • Although less common in newer EVs, NiMH batteries have been used in some earlier hybrid and electric vehicles.
  • They have a lower energy density compared to lithium-ion batteries and can provide a shorter driving range.
  • NiMH batteries are gradually being replaced by lithium-ion batteries due to their superior performance.
  • Solid-State Batteries:
    • Are an emerging technology that holds promise for future EVs.
    • They use solid electrolytes instead of liquid or gel-based electrolytes found in traditional batteries.
    • Solid-state batteries have the potential to offer higher energy density, faster charging times, improved safety, and longer lifespan compared to current battery technologies.
    • However, they are still in the early stages of development and not widely available in commercial vehicles.
  • Lithium Polymer Batteries:
    • Lithium polymer (LiPo) batteries are a variation of lithium-ion batteries.
    • They use a solid polymer electrolyte instead of a liquid or gel electrolyte, which allows for more flexible packaging and potentially lighter weight.
    • LiPo batteries have been used in some EVs and consumer electronics, but their usage is not as widespread as conventional lithium-ion batteries.

Here, a list of the most relevant News on EV Batteries:

  • Latest Electric Vehicle, Battery And EV Metal Miner Trends – May 2023 (Updated) (read more)
  • WSJ: Exxon Joins Hunt for Lithium in Bet on EV Boom (read more)
  • Mazda mulls EV battery supply collaboration with Panasonic Energy (read more)
  • Toyota to make solid-state batteries for its EVs, aims for 3.5M EVs by 2030 (read more)
  • BATT: EV Battery Technology ETF Contends With Instability In China (read more)

About Social Media

This is a curated list of the most relevant content (video, blog, newsletter, twit, etc.) related to the chemical industry. I think they are quite worth checking out:

e-mail (Newsletter): Morning Brew is a classic newsletter, but did you know you can search for Topic Related posts? Check out the Energy Tag.

YouTube: Ever wonder how Fluidized Catalytic Crackers work? Check this video!​

Instagram: Recently, I’ve been checking out US-Government Agencies/Institutions Reels. From Energy to FDA, I’ll recommend you the EPA Account.

TikTok: Ever wonder about Oil OffshorePlatform Accomodation? Check this 4 min vid!

Twitter: One of the biggest hipocrecies regarding the Climate Change & Politics: The socialist prime minister of Spain flew to a climate conference in a private jet, was transferred to the event in a fleet of vehicles, and then virtue-cycled the last 200 feet to show how environmentally conscious she is.

https://twitter.com/semiarid/status/1678888617186406400

Threads: Hey, follow me in Threads: @ChemicalEngineerinGuy. BTW, have you seen the “Las Vegas Led Sphere”? Check it here.

Product of the Month

In the last weeks, I launched a Course for students and professionals that want to learn more on Reactor Engineering, what are these units for, how are they operated, what type of industry, specificaitons and more… It is totally worth it, as it is focused towards an Engineering Audience. Go check it out!

Get 50% OFF in your purchase. Use this link to claim your offer.

As usual, you have a 30-Day Money Back Warranty, if you don’t like the course, so make no worries, enroll now and boost your training skills!

Final thoughts

That will be it guys! I hope you enjoyed this issue! And once again, sorry that I didn’t sent May issue before!

See you next month!

Is there anything in especial that you liked the most? or Maybe you are not quite into the new trends? Just reply to this e-mail and let me know!

Enroll for More News & Trends!​