Commodity Chemicals


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. Sinopec Shanghai Petrochemical Company Limited SHI2,4162,3782,6313,5124,7055,6296,4717,4668,7156,96010,94014,24714,05217,45110.167,03765,93679,21895,61388,056
2. Braskem S.A BAK1,5551,7712,1303,5184,5925,6026,12310,0127,7858,77215,33017,81117,34417,35417,21446,88047,66449,26158,00052,324
3. Dow Inc DOW44,87553,67459,98556,78657,08058,16748,77848,15855,50849,60442,951
4. LyondellBasell Industries N.V LYB50,70630,82841,15151,03545,35244,06245,60832,73529,18334,48439,00434,727
5. Westlake Chemical Corporation WLK1,0731,4231,9852,4412,4843,1923,6922,3263,1723,6203,5873,7594,4154,4635,0758,0418,6358,118
6. Olin Corporation OLN1,5491,2711,3011,5861,9972,3583,1521,2771,7651,5321,5861,9612,1852,5152,2412,8545,5516,2686,9466,110
7. Trinseo S.A TSE5,4525,3075,1763,9723,8614,5724,7673,895
8. Cabot Corporation CBT1,5171,6701,5571,7951,9342,1252,5422,6163,1912,2432,8933,1023,3003,4633,6472,8712,4112,7173,2423,3372,614
9. Methanex Corporation MEOH1,0611,1491,0091,3941,7191,6582,1082,2672,3141,1981,9672,6082,6733,0243,2232,2261,9983,0613,9323,284
10. Tronox Holdings plc TROX01,3021,3641,4121,426001,2181,6515241,9221,7371,5102,0931,6981,8192,642
11. Valvoline Inc VVV2,0411,9671,9292,0842,2852,3902,353
12. Koppers Holdings Inc KOP8439531,0301,1601,3281,3651,1241,2451,5391,5551,4781,5551,6271,4181,4761,7021,773
13. Kronos Worldwide, Inc KRO1,0081,1291,1971,2791,3101,3171,1421,4501,9461,9751,7281,6551,3481,3701,7211,6721,733
14. Orion Engineered Carbons S.A OEC1,8431,8461,5951,3201,1391,3281,5781,476
15. AdvanSix Inc ASIX1,7901,3291,1921,4751,5151,297
16. Westlake Chemical Partners LP WLKP2,2492,1281,7501,0079871,1731,2861,092
17. Tredegar Corporation TG8697687377398619571,1179238846497408018829599528968289611,065972
18. Hawkins, Inc HWKN97108104107115143160196284257298344350348364414484504556540
19. Ciner Resources LP CINR422463442465486475497487523
20. Fuwei Films (Holdings) Co., Ltd FFHL4356596547768560500.19249254291334336
21. AirBoss of America Corp ABSSF93106116136160194198228213200241282250237303305268290317328
22. Core Molding Technologies, Inc CMT8468949311213116212311783100143162144175199175162269284
23. Trecora Resources TREC43333740608099109155118139200223236290242212245288259
24. Greystone Logistics, Inc GLGI12.452116.6916.2321242423222640497176
25. Tantech Holdings Ltd TANH5161654748433049
26. Gulf Resources, Inc GURE17.8354871101581651021181141621491082.5910.6
27. ADM Tronics Unlimited, Inc ADMT2.71.781.371.011.111.291.721.541.91.491.171.22.321.581.812.854.515.273.753.023.49
28. Kraig Biocraft Laboratories, Inc KBLB00000000.030.10.40
29. Plastec Technologies, Ltd PLTYF15115600000
30. SpringWorks Therapeutics, Inc SWTX8583695358554038423245000
31. Loop Industries, Inc LOOP00000000
32. Industrial Enterprises of America, Inc IEAM2.770.13.9531
33. ONE Bio Corp ONBI0.1410.42252
34. Vulcan International Corporation VULC9.078.377.018.337.6
35. The Renewable Corporation RNWB0000
36. Eco-Tek Group, Inc ETEK0.2800.230.28
37. Radva Corp RDVA10.089.639.359.628.24
38. China Sun Group High-Tech Co CSGH25374149
39. Integral Technologies, Inc ITKG00.030.220.10.07
40. GelTech Solutions, Inc GLTC0.220.530.820.81.311.21.151.45
41. Cereplast, Inc CERPQ0.30.620.540.732.184.512.746.34200.89
42. Nano Labs Corp CTLE1,000,000,000,000000
43. Shiner International, Inc UECN4352355875728610176
44. Flamemaster Corporation FAME3.824.184.734.774.965.296.296.1


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. Sinopec Shanghai Petrochemical Company Limited SHI0.980.981.111.331.341.21.151.151.170.81.571.30.991.2406637.080.981.21.210.92
2. Braskem S.A BAK1.141.141.21.651.311.221.091.640.781.131.751.160.9710.992.721.021.031.180.9
3. Dow Inc DOW1.21.21.120.951.011.020.840.991.150.890.87
4. LyondellBasell Industries N.V LYB0.610.611.331.240.890.971.040.720.891.181.130.89
5. Westlake Chemical Corporation WLK1.331.331.41.231.021.281.160.631.361.140.991.051.171.011.141.581.070.94
6. Olin Corporation OLN0.820.821.021.221.261.181.340.411.380.871.041.241.111.150.891.271.941.131.110.88
7. Trinseo S.A TSE0.970.970.980.770.971.181.040.82
8. Cabot Corporation CBT1.11.10.931.151.081.11.21.031.220.71.291.071.061.051.050.790.841.131.191.030.78
9. Methanex Corporation MEOH1.081.080.881.381.230.961.271.081.020.521.641.331.021.131.070.690.91.531.280.84
10. Tronox Holdings plc TROXINFINF1.051.031.010NANINF1.360.323.670.90.871.390.811.071.45
11. Valvoline Inc VVV0.960.960.981.081.11.050.98
12. Koppers Holdings Inc KOP1.131.131.081.131.151.030.821.111.241.010.951.051.050.871.041.151.04
13. Kronos Worldwide, Inc KRO1.121.121.061.071.021.010.871.271.341.010.870.960.811.021.260.971.04
14. Orion Engineered Carbons S.A OEC110.860.830.861.171.190.94
15. AdvanSix Inc ASIX0.740.740.91.241.030.86
16. Westlake Chemical Partners LP WLKP0.950.950.820.580.981.191.10.85
17. Tredegar Corporation TG0.880.880.9611.171.111.170.830.960.731.141.081.11.090.990.940.921.161.110.91
18. Hawkins, Inc HWKN1.111.110.961.031.081.241.121.221.450.91.161.161.020.991.051.141.171.041.10.97
19. Ciner Resources LP CINR1.11.10.961.051.050.981.050.981.07
20. Fuwei Films (Holdings) Co., Ltd FFHL1.291.291.061.10.721.611.130.70.8401297.491.021.141.151.01
21. AirBoss of America Corp ABSSF1.151.151.091.171.181.211.021.150.940.941.211.170.890.951.281.010.881.081.091.04
22. Core Molding Technologies, Inc CMT0.820.821.380.991.211.171.240.760.950.711.21.431.130.891.221.140.880.921.671.05
23. Trecora Resources TREC0.770.771.121.081.511.341.231.11.420.761.181.431.121.061.230.840.881.151.170.9
24. Greystone Logistics, Inc GLGI1.691.690.790.971.261.1810.970.951.181.521.211.461.07
25. Tantech Holdings Ltd TANH1.211.211.070.711.020.90.691.67
26. Gulf Resources, Inc GURE3.043.041.611.261.441.040.621.160.961.430.920.720.024.08
27. ADM Tronics Unlimited, Inc ADMT0.660.660.770.741.11.161.340.891.230.780.791.031.930.681.141.581.581.170.710.81.15
28. Kraig Biocraft Laboratories, Inc KBLBNANNANNANNANNANNANNANINF3.054.130
29. Plastec Technologies, Ltd PLTYF1.031.030NANNANNANNAN
30. SpringWorks Therapeutics, Inc SWTX0.970.970.830.781.080.950.730.941.110.771.40NANNAN
31. Loop Industries, Inc LOOPNANNANNANNANNANNANNANNAN
32. Industrial Enterprises of America, Inc IEAM0.040.0437.997.78
33. ONE Bio Corp ONBI73.5173.512.122.37
34. Vulcan International Corporation VULC0.920.920.841.190.91
35. The Renewable Corporation RNWBNANNANNANNAN
36. Eco-Tek Group, Inc ETEK00INF1.21
37. Radva Corp RDVA0.960.960.971.030.86
38. China Sun Group High-Tech Co CSGH1.461.461.111.18
39. Integral Technologies, Inc ITKGINFINF7.620.430.75
40. GelTech Solutions, Inc GLTC2.372.371.550.981.640.920.961.26
41. Cereplast, Inc CERPQ2.092.090.881.3432.070.612.323.190.04
42. Nano Labs Corp CTLE00NANNAN
43. Shiner International, Inc UECN1.211.210.671.691.290.961.191.180.75
44. Flamemaster Corporation FAME1.091.091.131.011.041.071.190.97