Chemical industry trend bottom rebound!

Since 2022, rising inflation and the US Federal Reserve's interest rate hike have put downward pressure on the global economy. China's economy has been hit by repeated outbreaks of COVID-19 and downward factors in real estate and other sectors. Downstream demand is sluggish, chemical industry boom is depressed.

In 2023, with the gradual slowing down of the Federal Reserve's interest rate hike and the acceleration of the implementation of the domestic economic stabilization package and follow-up measures, domestic demand is expected to recover as a whole. Especially in the chemical industry, the related upstream chemicals and raw materials are expected to recover due to the introduction of domestic support policies for real estate and other industries.

At the same time, due to the geopolitical impact, the tight supply of natural gas in Europe has greatly affected the capacity of local chemical companies to operate at full capacity, which creates greater space for chemical companies to further supply overseas markets. It is worth noting that the global economic growth challenges, the international market demand is still affecting the chemical industry continued to recover the unstable factor.

Jiangsu Minco Precision Rubber Technology Co., Ltd. was founded in 2011, is a professional for automotive and food industry, data storage and removable storage, medical and electronic industries, providing customized rubber raw parts development and manufacturing company.