Chemical Romance: Tanks, Trade, and Texas-Sized Deals
Better Living Through Chemistry – No, it’s not the latest hit Netflix series, it’s actually a 2014 American comedy-drama film. But enough about Hollywood. Last week, the real action was in the chemical industry – and no, we’re not talking about that chemistry class you barely passed in high school. (By the way, did you know that the architect of the mytanktiger.com platform was a high school chemistry teacher?) The spotlight last week was clearly on the chemical industry, with the World Petrochemical Conference (WPC) in Houston and the IPC AFPM in San Antonio. So, what did the Tank Tiger do? We decided to dive into the chemical pool, cannonball-style.
We learned that the global chemical industry will grow from USD 6,182 billion in 2024 to USD 6,324 billion by 2025 at a YoY increase of 2.3%. The spin on the the global chemical industry, setting a trade war aside for a moment, is that 2025 isn’t too bad. In 2023 we witnessed some unexpected challenges such as unstable energy prices, increasing feedstock prices, and geopolitical volatility. The volatility especially contributed to a “deer in the headlights” decline in production. Fortunately , the trend was corrected in 2024 – like a bad haircut finally growing out – with lower energy prices and increased demand in auto and tech. The American Chemistry Council projected a 3.4% increase in 2024 production and expects similar growth this year. So if you’re worried about tariff related disruptions in your supply chain, perhaps a tank or two will be a bandaid for your woes. We got tanks. We got tanks.
Now that oil ain’t such a dirty word any more, a commensurate increase in energy consumption will bolster the chemical industry as a whole. Oil prices recorded a second consecutive weekly gain with renewed tough talk against Iran and OPEC + suggesting tighter supply. Brent closed the week at $72.16 a barrel and WTI joined in on the Friday fun closing at $68.28. It was a strong finish to the week for the oil markets, and perhaps, these two are the new power couple in town.
The Tank Tiger scored an amazing month in Houston….we had 56 face to face meetings with customers and finished off the month with an EPIC party at Kirby Ice House with hundreds of guests to celebrate our 10 year anniversary (see photo below). Strike The Tank Tiger pose! Our official anniversary date is April 2, 2025 but we wanted to get a jump on the celebration and share it with our friends in H-town. Yup. But wait, there’s more! We didn’t stop there. We packed up and hightailed it to San Antonio for dessert at the IPC AFPM last weekend. And let’s just say – it was fantastic meeting so many chemical producers and distributors, learning about their needs, and figuring out how we can make those molecules hum. Stay tuned to the Tank Tiger for more tank-tastic updates!
