U.S. Chemical Firms Prep for Maintenance Amid Supply Crunch
Attachment: US CP maint 4Q22
September 14, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Demand for chemical products, such as plastic and rubber, is growing across the U.S., and producers continue to face significant delays in constructing new plants: worker shortages, stringent regulations, uncertain economic outlooks, etc. With utilization rates hitting highs, producers are under pressure to ensure their existing facilities can heavy production volumes.
For three consecutive quarters, supply-chain and freight-transportation disruptions have harmed U.S. chemical producers, negatively affecting customer orders and resulting in costly workarounds and higher inventories.
Industrial Info is tracking 225 maintenance-related projects in the U.S. Chemical Processing Industry that are set to begin in the fourth quarter and total nearly $500 million in investment value, nearly half of which is attributed to the petrochemical and plastic/rubber sectors. Companies include Chevron Corporation (NYSE:CVX), Chevron Phillips Chemical Company LLC, Pinnacle Polymers, Indorama Corporation, Dyno Nobel Incorporated and AOC Americas.
Other companies featured: DuPont (NYSE:DD), Procter & Gamble Company (NYSE:PG) and Airgas Incorporated.
