Editorial March 2020 Fear Factor
20 Jul 2020
There is fear all around. Mostly related to the China made, n-Covid19 or Coronavirus which has caused chaos in China and gradually spreading around the world. On a lighter note, there was a joke that was circulating around social media and WhatsApp groups which said now even death is "Made in China". Another one said, Coronavirus is causing more investor deaths than the disease is causing in context with the global equity markets.
The influenza has caused several exhibitions to cancel their event and postpone it to a later date. Some exhibitions like The Dubai Coatings Show and The Dubai Specialty Chemicals Show has postponed their exhibitions indefinitely and will announce the next date in time to come. The Color & Chem Expo that happens in Pakistan every year has been postponed to July end.
We have tied up with CpHI North America and that is scheduled from May 5-7, 2020. Exhibitions and Tradeshows are among the first hit by this with 400+ global events already rescheduled or cancelled. According to CNBC, it fears are affecting the $2.5 trillion trade show industry.
Other than that, we see that there are problems in the supply chain. Many manufacturers have requested for raw materials as they are in shortage as the trade is halted. The items that were coming from China has been stopped. Los Angles port recently reported that there were about 40 containers that has decreased in number and is expected to slow down trade by at least 25%. As manufacturing is affected in China, rubber chemicals, graphite electrodes, carbon black, dyes manufacturers are likely beneficiaries in India. The impact is not yet traceable but China is a major source of raw materials. A sharp slowdown in global growth could offset some of the benefits to companies in India, not just short term but even in the future once the vaccine is developed. Travel industry is hit the hardest as well.
On the other hand, some chemical segments have even had a boom in sales. This includes disinfectants, materials such as PP to produce masks, antiseptics, gloves and clean room suits.
According to one report, China accounts for 36% of global chemical manufacturing up from 10% in 2003. Thus any impact here will cause a global chemical manufacturing slowdown throughout the world!
In this hour of trouble, we feel that the show must go on as it is really important that consumption happens, the business flows and the livelihood of the people, their earning are not affected and expenses are lowered. Also at the same time, take care of the health as the old saying goes "Health is wealth".
We want to encourage people to advertise in our magazine as we have a global reach. Our print copies reach all over India and our online magazine which is available on web and mobile platform is being read and downloaded internationally. We are also starting to send new email blast regarding our newly launched Chemical Technology module which includes Machinery & Equipment, Packaging & Drums, Logistics and Filtration products.
We have got several purchase enquiries for the chemical raw materials. If you are a seller, you can too post your products on our leads platform. If you are a buyer, you can post your purchase enquiries which will be broadcasted to our sellers.
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