Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 21 January.

INSIGHT: Shifting global investment in chemicals research is a challenge for established markets
The chemical industry developed through the clever application of chemistry and technology and will continue to do so as companies adapt to meet the climate threat alongside the needs of growing market demand.

US Axalta to miss guidance because of high inflation, supply constraints
Axalta Coating Systems will miss its Q4 and 2021 full-year guidance, issued in October, mainly because of greater-than-expected adverse impacts from raw material price inflation and supply chain constraints, the US-based company said in an update on Tuesday.

Crude market could reach surplus in Q2 on muted Omicron impact – IEA
The crude oil market could post a surplus in Q2 as producers increase output to take advantage of prices at multi-year highs, the International Energy Agency (IEA) said on Wednesday.

US January epoxy firm as weariness grows over high prices
Firm sentiment continues to linger in US domestic epoxy resin markets, but improved supply-demand fundamentals are making buyers more weary of high prices.

SABIC, ExxonMobil start commercial operation of Texas JV project
SABIC and joint venture partner ExxonMobil have started commercial operation of the large-scale cracker and petrochemicals complex the two firms have been developing on the US Gulf Coat, the Saudi Arabia-headquartered firm said on Thursday.

US coatings firm PPG fears spread of Omicron to China ‒ CEO
A potential spread of the Omicron coronavirus variant to China would hurt US coatings major PPG, which has production and distribution facilities in Suzhou, Tianjin and Zhangjiagang, the company’s CEO warned on Friday.