The hottest shale gas stimulates the continuous re

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Shale gas in the United States stimulates the continued revival of manufacturing industry. IHS chemical company predicted in the report "the future of new energy in the United States: unconventional oil and gas revolution and the revival of manufacturing industry in the U.S. economy" released last week that the abundant and cheap natural gas brought by the shale gas revolution will enable the U.S. chemical industry to maintain a competitive advantage for a long period of time, and will also stimulate the revival of other manufacturing industries in the United States. And the American Chemical Council (ACC) can agree with this without stopping the machine and dismantling the machine

the report points out that the production cost advantage brought by the unconventional oil and gas revolution is improving the competitive advantage of American manufacturing industry, especially for energy intensive industries. In the next few years, the industries that will benefit from the cost advantage mainly include organic chemical products, synthetic resins, agricultural chemicals, oil refining, steel and machinery manufacturing

the American chemical industry will fully enjoy this low-cost advantage in the coming decades. Carl Dooley, the president of ACC, said that the IHS report strengthened the expectation that the revitalization of the U.S. chemical industry will continue. Dooley pointed out that the substantial increase in natural gas supply is stimulating the unprecedented tide of chemical project investment and capacity expansion in the United States, which has become a global investment hotspot. IHS predicts that the production of basic chemicals and plastics in North America is expected to double by 2020, while the production in Western Europe will decline by about one third

According to IHS, from 2012 to 2016, more than US $31billion will be invested in building a new chemical production capacity of more than 16million tons/year in the United States. By 2025, a total of 89million tons/year of new capacity will be added, and the investment will be as high as $129 billion. These new chemical production capacities mainly include acrylic acid and its resins, aromatics, nitrogen fertilizers, chlor alkali, olefins, polyolefins, vinyl resins, ethylene glycol and methanol

the strong growth in the supply of natural gas condensate (NGLS), especially ethane, in the United States is the key for the U.S. chemical industry to enhance its global competitiveness. Natural gas condensate is mainly used as the production raw material of basic chemicals and plastics in the United States, while most European and Asian chemical companies use naphtha as the ethylene cracking raw material. Since raw materials account for about 75% of the production cost, the cheap natural gas price makes American chemical companies have obvious cost advantages in the global market. IHS predicts that the natural gas condensate in the United States will increase by 3.8 million barrels per day by 2020, double the current level

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the report also predicts that the advantages of lower raw materials and energy costs brought about by the shale gas revolution will lead to the revival of the U.S. manufacturing industry. By 2020, the output value of the U.S. manufacturing industry will increase by $258billion, and by 2025, it will increase by $328billion

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