Consulting firm Wood Mackenzie discusses coronavirus and the petrochemicals industryby Patrick Kirby, Wood Mackenzie Principal Analyst, and Matthew Chadwick, Vice President - Global Head of Petrochemicals
Two immediate major COVID-19 shockwaves are linked to economic activity and feedstock pricing: a sudden freeze in economic activity, and volatile feedstock pricing following the oil price crash.
Haitian Group reports “good” results amid “difficult year for the global economy” in 2019by Canadian Plastics
The China-based injection molding machine maker recorded an overall sales decrease of 9.6% last year compared to 2018, but still sold more than 32,000 units for the year ending Dec. 31, 2019.
COVID-19 drives small business confidence in Canada to record low, survey reportsby Canadian Plastics
The Business Barometer Index is at a record low 30.8, a new Canadian Federation of Independent Business survey found, well under the previous lows near 39 recorded in both the 2008 and 1990 recessions.
Chemical and oil companies to slash capital spending, slowing investment waveby Joseph Chang, Global Editor, ICIS Chemical Business
In the wake of the coronavirus and collapse in crude oil prices, chemical, oil and gas, and midstream companies will all slash capital spending for growth projects to preserve cash.
Plastics processors show a clear preference for domestic manufacturing, survey saysby Canadian Plastics
Respondents to the sixth annual thermoforming industry survey conducted by Ray Plastics also placed concerns about price and quality as top considerations.
Flexible packaging demand in Asia hit by sluggish regional economy, report saysby Canadian Plastics
According to Wood Mackenzie’s report, ‘Flexible Packaging Asia Supply Demand Report’, the region’s largest markets – China and India – experienced significant disruptions in 2019.
Plastics machinery shipments “stayed low” in 2019, industry association saysby Canadian Plastics
Despite a fourth quarter uptick, weak business investment spending was due to trade and tariff uncertainties and overall weaker manufacturing activity, the Plastics Industry Association’s Committee on Equipment Statistics said.
Thin wall packaging industry is globally fragmented but gaining on aluminium and glass, report saysby Canadian Plastics
Thin wall packaging accounts for 12 per cent of the global packaging production, the report from AMI Consulting concludes, equivalent to 18 million tonnes.
Canadian auto sales estimated as being “relatively flat” in January, report saysby Canadian Plastics
In the U.S., meanwhile, auto sales contracted modestly in January, the report from Scotiabank says.
Canadian auto sales “disappointed” in 2019, report saysby Canadian Plastics
This marks a second consecutive year of auto sales declines following the 2017 high, a new report from Scotiabank says, and auto sales are in for another bumpy ride in 2020.
Canadian auto sales were down in December, report saysby Canadian Plastics
The new report by Scotiabank also notes that U.S. auto sales dipped even more sharply in December.
Primary plastics machinery shipments in North America down in Q3by Canadian Plastics
Compared to last quarter, total shipments of injection molding and extrusion machinery dropped by 0.5% to US$293.7 million in the third quarter of 2019, new figures from the Plastics Industry Association show.
Canadian auto sales dipped again in October, report saysby Canadian Plastics
Auto sales fell back modestly by 0.6% year-over-year in October, a new report from Scotiabank says, with flat fleet sales providing little offset to a continued decline in retail performance.
North American robot sales up in 2019by Canadian Plastics
According to new figures from the Robotic Industries Association, the largest driver of this growth was an increase in orders from automotive OEMs, followed by plastics and rubber, and food and consumer goods.
Canadian manufacturing sales down slightly in September, StatsCan saysby Canadian Plastics
Sales in the machinery industry increased 5.5 per cent to $3.7 billion, however, which was the largest monthly increase since May 2018.
Milacron’s sales down in Q3 2019by Canadian Plastics
The results come as the company prepares for its acquisition by industrial equipment maker Hillenbrand Inc.
Canadian auto sales fell back “modestly” in October, report saysby Canadian Plastics
U.S. auto sales also posted a decline in October, according to a new report from Scotiabank.
North America automotive tooling spend to drop to US$6.8 billion, report saysby Canadian Plastics
The key factor driving this reducing tooling spend is the decreased number of North American vehicles that will be sourced for production in 2020, the report from Harbour Results says.
U.S. plastics industry maintained trade surplus in 2018, reports sayby Canadian Plastics
The size of the U.S. plastics industry expanded in 2018 while also maintaining a trade surplus of $500 million as consumption of plastics products continued to grow in the U.S., according to two new reports from the Plastics Industry Association.
Canadian auto sales posted “modest” uptick in August, Scotiabank saysby Canadian Plastics
The sales increase ended a record seventeenth month of year-over-year declines in auto sales in Canada, a new report from the bank says.