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Hurricane hits the United States, domestic acrylic acid exports are expected to continue to increase in volume

Hurricane hits the United States, domestic acrylic acid exports are expected to continue to increase in volume

(Summary description)The U.S. acrylic acid industry was greatly affected by the hurricane: Category 4 hurricane Harvey swept across Texas and the Gulf of Mexico, hitting the center of the U.S. energy industry. According to statistics, the United States has a total of about 1.18 million tons of acrylic acid production capacity. At present, in addition to DOW reducing the load to 60-70%, BASF, Arkema, and ACRYL have successively announced that their installations have encountered force majeure shutdowns. The parking capacity reached 710,000 tons, accounting for 59% of the U.S. production capacity. The upstream raw materials of acrylic acid were also affected by the hurricane. At present, oil prices and propane prices have risen and may be transmitted to propylene. This year, domestic acrylic acid exports continue to increase in volume, and follow-up

Hurricane hits the United States, domestic acrylic acid exports are expected to continue to increase in volume

(Summary description)The U.S. acrylic acid industry was greatly affected by the hurricane: Category 4 hurricane Harvey swept across Texas and the Gulf of Mexico, hitting the center of the U.S. energy industry. According to statistics, the United States has a total of about 1.18 million tons of acrylic acid production capacity. At present, in addition to DOW reducing the load to 60-70%, BASF, Arkema, and ACRYL have successively announced that their installations have encountered force majeure shutdowns. The parking capacity reached 710,000 tons, accounting for 59% of the U.S. production capacity. The upstream raw materials of acrylic acid were also affected by the hurricane. At present, oil prices and propane prices have risen and may be transmitted to propylene. This year, domestic acrylic acid exports continue to increase in volume, and follow-up

Information
The U.S. acrylic acid industry was greatly affected by the hurricane: Category 4 hurricane Harvey swept across Texas and the Gulf of Mexico, hitting the center of the U.S. energy industry. According to statistics, the United States has a total of about 1.18 million tons of acrylic acid production capacity. At present, in addition to DOW reducing the load to 60-70%, BASF, Arkema, and ACRYL have successively announced that their installations have encountered force majeure shutdowns. The parking capacity reached 710,000 tons, accounting for 59% of the U.S. production capacity. The upstream raw materials of acrylic acid were also affected by the hurricane. At present, oil prices and propane prices have risen and may be transmitted to propylene. 
Domestic acrylic acid exports continue to increase in volume this year, and the follow-up is expected to continue to rise: in terms of global acrylic acid production capacity distribution, China accounts for 38% and North America accounts for 18%. This year, domestic acrylic acid export volume and value have increased to varying degrees. From January to July 2017, domestic exports of acrylic acid and its salts totaled 39,500 tons, an increase of 12.2% year-on-year; the export value was US$40,738,900, an increase of 52.26% year-on-year. Among them, the amount of butyl acrylate exported to the United States has increased substantially. The U.S. hurricane may significantly limit the production of acrylic acid in the United States, which is expected to increase the domestic acrylic acid exports to the United States. 
Domestic acrylic acid presents an oligopoly and is affected by certain environmental protection: According to statistics, as of the end of 2016, the national acrylic acid production capacity was 2.89 million tons, 210,000 tons less than in 2015. In 2017, only the 160,000-ton/year unit of the first phase of Shanghai Huayi Acrylic Acid was put into operation in the first quarter. Taking into account other old units that were shut down, the domestic acrylic acid production capacity was basically the same as in 2016. Among them, the top five companies together account for about 65% of the shares. From the perspective of environmental protection, the acrylic acid production process will produce a large amount of waste water, which is difficult to degrade. The domestic acrylic acid production capacity is more distributed in Shandong and Zhejiang, and may also be affected by the recent environmental protection inspections, and the operating rate is limited.
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