The global petrochemicals sector is faced with unprecedented levels of disruption due to multiple factors such as globalisation, declining demand, technological development and an unstable political climate. Unexpected events, such as the recent Hurricane Harvey in Texas, have significant impact at a global level. Converters, producers and distributors are having to navigate volatile markets, declining industrial production and minimal growth. As market intelligence needs are becoming increasingly complex, ICIS is responding by adding diagnostic capabilities to its existing analytics solutions for petrochemicals markets to help decision-makers respond more effectively to market changes.
ICIS has already established itself as a trusted source of analytics solutions for power, carbon and LNG markets.
Building on the experience of developing analytics solutions for energy industries, ICIS is now applying its analysis-led approach to petrochemicals markets, combining technology with knowledge from its extensive team of markets experts, along with a deep understanding of what its customers need to help them navigate obstacles and find opportunities in a shifting petrochemicals landscape.
“ICIS is committed to providing our customers with a new range of tools and insights to allow them to make faster and more accurate business decisions. As our customers face increasingly more complex challenges, we strive to keep pace, evolving first-class analytics in order to give decision-makers a real edge in an ever-changing competitive environment,” said ICIS Managing Director Rob Kolkman.
The new Petrochemicals Analytics Solutions will deliver a whole-market perspective as well as robust analytical tools that look below the surface to show the true impact of change as it happens. Some of the unique features include real-time updates on plant outages with precise calculations on capacity disruptions, interactive visualisation, a global view of outages, and impact analysis.
ICIS Petrochemicals Product Director Charmaine Chew said these enhanced tools will help petrochemical decision-makers to respond more confidently to changing market conditions and thereby increase their competitive advantage.
“Too much narrative, data that is not updated fast enough, not easy to read or interpret – these issues are common and can cloud clear thinking, especially under time pressure. We are addressing these practical problems head-on with real-time quantitative data updates, interactive visuals and impact analysis to make information quick and easy to understand – and then to act on. We combine the strengths of our global editors and market experts, who stay on top of the global market 24/7, with our extensive pricing data and supply and demand databases to deliver live analytics solutions,” she said.
The ICIS Petrochemicals Analytics Solutions will deliver unique benefits, including quantitative data on plant outages alongside current, historical and forward-looking viewpoints, all backed up by a team of experts 24/7. This will help ensure ICIS customers retain their competitive edge in the face of challenging market conditions and unexpected disruptions.
Find out more about the most important petrochemical market trends and how ICIS can help you keep up with these developments.
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ICIS is the world’s largest petrochemical market information provider, with divisions spanning energy and fertilizers. Our aim is to give companies in global commodities markets a competitive advantage by delivering valuable information and analytics tools which enable our customers to identify and react to opportunities in markets which are constantly evolving. We have more than 30 years’ of experience in providing pricing intelligence and news, forecast data, market analytics and independent consulting to buyers, sellers and analysts.
With a global staff of more than 600, ICIS has employees based in London, Houston, New York, Singapore, Dubai, Shanghai, Guangzhou, Beijing, Mumbai, Tokyo, Karlsruhe, and Milan. ICIS’ team of journalists is engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.
Reed Business Information provides information, analytics and data to business professionals worldwide. Our strong global products and services hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation, where we help customers make key strategic decisions every day. RBI is part of RELX Group, a global provider of information and analytics for professional customers across industries. http://www.reedbusiness.com
RELX Group is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. £33.6bn, €37.7bn, $44.3bn.www.relx.com
Look back and think ahead with access to historical, current and forecast pricing data.
An online database giving an end-to-end perspective across the global petrochemical and refinery supply chain. Data includes import and export volumes, consumption, plant capacities, production and product trade flows – from 1978 up to 2040 – by product, country and region.
ICIS has voluntarily expanded the assurance scope to include a total of 45 additional commodity price benchmarks. This represents ICIS’ commitment to undertaking both reasonable and limited assurance reviews on a cross section of its global benchmarks, including petrochemicals, fertilizers, LNG and European gas, as well as the NBP and TTF Day-ahead and weekend assessments.
Independent and reliable pricing and market intelligence for the global chemical and oil markets.