Chemical manufacturing companies are continuously coming up with concerned initiatives to assist against Coronavirus which is submitting to extreme highs with hopes of abatement. With rising number of cases, the demand for essential chemical feedstock required in the healthcare industry is showing an incredible surge, compelling the indulged companies to scale up the supply. Stressing this issue, WHO has also asked chemical companies to ramp up the production of personal protective equipment material to serve the skyrocketing demand from pharmaceutical and healthcare industries.
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Taking this step forward, Exxon Mobile, one of the largest oil producing giants in the global market has announced increment in the production of raw materials to produce essential necessities such as gowns, masks and hand sanitizers required in medical and healthcare sectors to look after Covid-19 patients. Addressing the concern, the president of Exxon Mobile stated that the company is whole heartedly trying to assist nurses, doctors and first respondents, that are the warriors in these tough times to fulfil the high scale demand for critical protective equipments.
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Since specialized Polypropylene is widely used in the manufacturing of protective masks and gowns, the company has ramped up the production of Polypropylene by around 1000 per month. With this boost in production capacity, the company’s competency to assist in the production of 20 million gowns or 200 million medical masks will enhance. In addition, it has also escalated the production of Isopropyl Alcohol, a prominent feedstock utilized in manufacturing sanitizers and disinfectants. The company aims to produce medical-grade hand sanitizers up to 50 million 4-ounce bottles with this upgraded production facility. Furthermore, it is looking forward to introducing new products for health and hygiene in response to the global Pandemic. Exxon Mobiles has recently collaborated with Global Centre for Medical Innovation to work for rapid development and innovations in the designing of protective masks and other essential equipments. The company is putting high efforts by applying its expertise in polymer technologies to contribute towards the production of an advanced category masks that can be worn and sterilized multiple times.
As per the researchers of ChemAnalyst, these positive reforms in global chemical sector are anticipated to serve well in awakening the prolonged dull dynamics of the industry. Despite bearish buying sentiments of other chemical products, consistent boost in the production of Isopropyl Alcohol and Polypropylene will further contribute in the recovering the loss underwent by the chemical industry in previous months. With rise in demand, the prices of these products will also witness prominent gains followed by the much-needed increment in the stock value. Analysing the price trend for non-woven grade of Polypropylene and IPA for Southeast Asia, both products have witnessed significant uptrend in prices since last two months amid surging demand for the product to combat against virus. The prices of these products are further anticipated to climb with rising stress of Covid-19 in the global market showing no signs of abatement.
Source: ChemAnalyst
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