IRPC Petroleum - Competitors

IRPC Petroleum Competition

Now Viewing IRPC Petroleum's competition in: Chemicals (primary)

Recent Developments

Bisphenol A Controversy Continues - Senate Democrats want more research on the possible hazards of bisphenol A. Some earlier research showed that the estrogen-like compound found in many plastic products may harm the development of children's brains and interfere with human reproduction. Legislation requiring more research on bisphenol A may be more likely to pass if Democrats increase their majorities in Congress after the 2008 elections.

Rule may Prevent Oil Price Manipulation - US FTC officials hope to have a rule in place to prevent oil price manipulation by oil companies by year-end 2008. Reports that oil company BP has occasionally exported oil from Alaska's North Slope to Asia in an effort to drive up spot crude oil prices on the West Coast are a primary reason for the rule. Oil products are key ingredients in many chemicals, and chemical manufacturers are negatively impacted when oil prices rise.

US Chemical Exports, Imports Increased in 2007 - US chemical exports rose 13.8 percent in 2007 compared to 2006; imports rose 9.2 percent. Exports to 14 of the top 15 destinations for US-made chemicals also increased. The weak value of the US dollar is expected to lead to further growth in US chemical exports.

Competitive Landscape

Demand is driven by the health of the US economy because chemicals are used to make a wide variety of industrial and consumer products. The profitability of individual companies is closely tied to efficient operations. Big companies have large economies of scale in production. Small companies can compete effectively by producing specialty products, of which there are a large number, or by operating a single plant highly efficiently. The industry is highly automated: average annual revenue per employee is over $500,000.

Full Industry Overview For Chemicals

Chemicals Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US chemicals is forecast to grow at an annual compounded rate of 5.7 percent between 2007 and 2012.

Chemical Manufacturing Growth Volatile

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.