2023年全球化工行業(yè)并購展望：重振勢頭-德勤pdf

800700600500400300200020122013201420152016201720182019202020212022交易量交易額（十億美元）250200-2012201320142015201620172018201920202021202260963565063760058568846.472.434.684.6來源：DeloitteDevelopmentLLC根據(jù)S&PCapitalIQ數(shù)據(jù)分析。數(shù)據(jù)范圍：23420122013201420152016201720182019202020212022483.84.8來源：DeloitteDevelopmentLLC根據(jù)S&PCapitalIQ數(shù)據(jù)分析。數(shù)據(jù)范圍：720122013201420152016201720182019202020212022883023.8205.729.258.882.568.8來源：DeloitteDevelopmentLLC根據(jù)S&PCapitalIQ數(shù)據(jù)分析。數(shù)據(jù)范圍：33????????行業(yè)??54?化工?業(yè)?行????并購??并購?（“2023年??”）。?????，????????。問題。?????12???行?并購???3530252015105-35142是的，很有可能有可能可能不會不，不太可能??????，90%??化工?業(yè)???????2023年?????行并購??。????，???年? ??（?《2022年展望》）?，100%???????12???????并購??。???????，?展???/??????年????????，??????。???，??年????，??14%??????????展/ESG??????????/???????并購?????，????年30%。??，??????????并購??，?12????????? ???，4????????? ???。???????/??，???年????????????，?9??????????，7??????????。??????化?????????業(yè)?并購?????，??????????。87008700問題。???并購????????403530252015105-39異常激烈非常激烈有些激烈不太激烈-點(diǎn)也不激烈39??年88%????,?年??24%??? ,???并購??????????,???年??并購???化工?業(yè)????????;????2023年??。1512963015129630問題。?????12??行???(????)?181515159不，極不可能??年??化工?業(yè)????????并購???,???年??????? ???,?56%??????????????12??行???, 年???????45%。?30?? ?????????12??行???????,90%????????有可能不太可能有可能業(yè)????????,化工?業(yè)??????、????? ???年????,54??化工?業(yè)???63%??,???????????????????????????業(yè)?????。??? ?年????,?13%??????????/?????????是的，非常有可能??,?年???。??????? ?化工行業(yè)???????????,??????、??????業(yè)???。2015105-2015105-問題??12?????/???????9474654467655214432124422第-第二第三第四?????????購??????????0???0?????????????????化??0?行???????????購????展0ESG0??????化??????年????12???????,???,?17???????,29????2023年 ?????。??年????,??13%????????購??????化工?業(yè)??購???2023年?化工?業(yè)??????,? ??????????購，???購。??年?,?年?????????化。年????,????????/???/?????????12????)??12???????,??????。???????????,???化工?業(yè)????????,????并購。??????化??展/ESG/??????????????。?年，?50%??????12????????,?年??????30%。?并????展/ESG/????化工?業(yè)????,??12??? ?????/??????,??????。ESG——?????????????ESG??????????（????1、??2???3??）。?????并購?????????????ESG?展???????，??? ???、??????CO2?????化??。???ESG????購??????，?化工?業(yè)??，?????，2023年??。???????購???ESG??，???年??????（78%）??“”。，?年????????ESG?????，????。???? ESG????????????????????年?????化。??????“???”，?????? ??2022年6?????行業(yè)行?????“ESGinM&APulseSurvey”8?????，???，“43%????，ESG???、?????并購?? ???。”25232019151000不太重要有點(diǎn)重要重要非常重要???ESG???????????、?ESG??????????0???ESG???????行?????????0??，???行?。??ESG，??????行?并購??????????并購業(yè)??行???并購?????????????????。?，ESG????????????，?????????????????。??????????????展???。??,???????12??????(?????并購?)行???,?展/ESG/?????????年??。2022年，???????????,全球???,????? ??????????????????????。??并?ESG??????,??2022年，化工行業(yè)????ESG????????ESG??????????????,?????????購????CircularPolymers??9、BraskemNexusCircular?行??10并??????購??11、Dow????工????????行??12，???????并購?。????化工?業(yè)???????????????????;?,???????并?????????,???????。??????????????,????????(??)????????????????。?????????業(yè)?,????。????工業(yè)?????????????化? 工?13，?工?????????,?????????業(yè) ???。?化工行業(yè)，???????????? ?14??????????15???????????,??????????????。?????????????? ,??????,??????????。?????????并購、??、????????? ???,??業(yè)?????????ESG??。??業(yè)???????????????,???? ?????????? ?。??????20122013201420152016201720182019202020212022大宗化學(xué)品358346394379390365401342特種化學(xué)品和材料化肥和農(nóng)用化學(xué)品43774898609537635650637600585501688541來源：DeloitteDevelopmentLLC根據(jù)S&PCapitalIQ數(shù)據(jù)分析。數(shù)據(jù)范圍：化肥和農(nóng)用化學(xué)品??，化???化肥和農(nóng)用化學(xué)品??，化???化????并購???2022年????，并購???2021年?????32%。并購?????，????并購?????：化工?業(yè)??并購???業(yè)??、???全???化???。?????????并購?，????業(yè)?（Corteva,Inc.）???12???購??（TheStollerGroup,Inc.）27???購???業(yè)????業(yè)——??（Symborg）28。??，BioceresCropSolutionCorp.?2.07???購????????MarroneBioInnovations29。??，???????化工（BorealisAG）?8.1????????業(yè)??????????（AGROFERT????2022年?行?????。???????、???業(yè)??????????化??，?????業(yè)行業(yè)?????。?化???化??業(yè)????，??????業(yè)?2023年?????并購，???化??。大宗化學(xué)品?2021年??年???，??化??并購???年?全球??????????，?年?????????????，化工行業(yè)??并購???行，????????業(yè)????并購?展???????????。??，??????（Aramco）?26.5????（Valvoline）?全球??業(yè)18，????（INEOS）????化業(yè)???化????70????????。19??，化工行業(yè)?并購?????????《2022年展望》????，???展???業(yè)。??2022年?行業(yè)??????，??????（DuPont）?????業(yè)?。20??????化????????、????????????????，??????。??，????????????????????，??????化?并購??2023年??????????年。????，????、?????業(yè)????????化工行業(yè)2023年并購?????。。???2022年??年? ???，?業(yè)?????，???化???并購?????????????????????。????，??????，???????????。???，????????????化 ???????全??，???????????。??，?????（BASFSE）????????????????，16?????。17260260???21???????工??業(yè)22???業(yè)23、???業(yè)????（Fermenich）?業(yè)并，??????206???。???2022年???????（NovozymesA/S）24 （Chr.HansenHoldingA/S）?????????，?????????并購??????????，?????（AmericanSecurities）?購MeridianAdhesivesGroup25??????????37???購????工??業(yè)26??特種化學(xué)品和材料?2021年??，??化??????并購???2022年????，?????并購???2022年????年???2021年????????。??，????2022年??????化工????（“DSM”）????????????????，??????。???????????????，并?并??????，?????????????????。?????，??化?????90%???業(yè)?????????2023年?行購，??????????69%。??，??????化工?業(yè)???并購????2023年?并購?????。201220132014201520162017201820192020202120222042062324872304230444438402345236989723488403023609537635650637600585501688541來源：DeloitteDevelopmentLLC根據(jù)S&PCapitalIQ數(shù)據(jù)分析。數(shù)據(jù)年將有所改善許多美國化工企業(yè)將2022年的大部分時(shí)間都用在應(yīng)對原料成本和能源價(jià)格波動的不確定性問題在2022年下半年面臨的財(cái)務(wù)狀況壓力。在將越來越多的關(guān)注放在降低成本和提高運(yùn)營中所涉企業(yè)價(jià)值超過10億美元的只有3筆可以看2023年，私募基金仍將繼續(xù)成為美國化工資者和私募基金在美國化工行業(yè)并購總量中參與企業(yè)分拆機(jī)會。中合資企業(yè)和戰(zhàn)略聯(lián)盟的數(shù)量卻有所增加，在過去的五年里，新宣布的戰(zhàn)略聯(lián)盟數(shù)量從2033個(gè)增加至2022年的65個(gè)30，企業(yè)通過聯(lián)合制種趨勢將會在2023年持續(xù)，對于正在艱難應(yīng)對各種全球經(jīng)濟(jì)挑戰(zhàn)的化工企業(yè)高管而言，這將會是及推動清潔能源轉(zhuǎn)型方面取得進(jìn)展，正如OlinCorporation和PlugPowerInc.在2022年底宣綠氫的速度。31鑒于較為傳統(tǒng)的并購交易在2023化及可持續(xù)性相關(guān)法規(guī)和承諾的考量將繼續(xù)對企業(yè)作出并購決策產(chǎn)生較大影響。動有望回暖2022年，???、???????????????,?化工行業(yè)? ?????。32??,行業(yè)并購????2022年?并購????23%，????5年????33%。2022年化工行業(yè)并購???全????,?????。??,??并購??,??化?????81%,????化??????化???????11%7%。????化????展并購????????????展，?業(yè)????展???????? 。2022年，??并購??化工行業(yè)??????15%，??年??。,????????,????????????。??展?????《?????業(yè)?（2022年?)》33，??????化工行業(yè)??行業(yè)。?????,?2023年，???????并購????????。??2022年??《?“???”???化化工行業(yè)???展?????》34,? ??展化工?化?行業(yè)。??,?化工行業(yè)??????????化?展，???行業(yè)????。???????????。?????????????????,化工行業(yè)?并購??2023年????。反彈2022年10?,?年??化?????????????。35???????????化工?業(yè)??????；ば袠I(yè)??????????????????????行??。???????????????、????????“?化??化工?業(yè)?? ?2022年????“?工業(yè)化”???。36????,???化工?業(yè)????????????,?????????????化工?業(yè)??????,????????????,?????,?業(yè)???????。?化?????????10%，???望?2024年化工?業(yè)?????化??????。372022年??年，化工行業(yè)???????并購??????。?????????????,??并購???????。??并購?????化???,???并購???????????。???,?????展購???? ??行??,?行??。?化工?業(yè)?????展??化?業(yè)??,?????????????行?展。??業(yè)?????,??化???工?????????ESG????業(yè)。?? ?????????化工行業(yè)并購? ????????(????????)。???????并購??2023年???????,年?望????展????????????。??來一些利好來一些利好46???2022-23年???7%，并??????????。?全球???化工?????2019??9.3%??48?49 ???????????行??????年??4%??6.5%????????6.5%。50???????????化工行業(yè)??????,???化??????????（productionlinked????????化行業(yè)?????、???????? ???（automaticroute）???化 。2023-24年?????,?????年???????,????51???化工????,???????????????????? ?化工行業(yè)????展???。????????????化????????年?年???化工行業(yè)并購???展。鏈下游發(fā)展受到阻延????“????并購”???????并購?,???????,??????“??”??。??????業(yè)???展?并購(????并購?????(??????/??業(yè) ?。???????????,???????????????????? ,?????????展?并購?????????業(yè)???展?并購。?業(yè)并購?????并?展???; ,并購???????,??????并購??????????,????????????????。2022年，???????（GDP）??????9%.2,38?????。39????,??????2022年?5.79%，40??????????????????。2022年，?????行??????13.75%，????2016年?????,?????????6.89%。41?????????,??2023年??????0.77%，????39%.5。42?????????????,?????業(yè)???、??????,?業(yè)????????。??????,化工行業(yè)???行業(yè)（+34.2%）???,43行業(yè)???????????全球??化?化????????。????化???并購??????????全球??????????,?????????業(yè)??購??????,???????。2022年????工???????,???????????望。??????????????,44??????????展?????。45??????ESG???并購????????并購?,?業(yè)?????業(yè) ???????。??????化????,?????????????,???????,?行業(yè)????????????。??化?行???2021年??,?化工行業(yè)?并2022年?????化工行業(yè)并購???????,??????????,???????,???? 購????,?????,????????????。??化??2021年???????,并?2022年????????,????、/???行業(yè)????業(yè)???購????,?????,????????????。??化??2021年???????,并?2022年????????,????、/???行業(yè)????業(yè)????????????,2022年并購??????,?2021年??????。?????化工?業(yè)??????????????????。??? ?????2022年?????,???年??行????業(yè)??????行業(yè)，??????業(yè)???????,????行???????。???,?????化??業(yè)??????????????。??,?2022年，????并購??????。?????化工行業(yè)行????????化?,????,2023年???????????????年。????2022年?????,?2023年?????。?????2022年?????并購?2023年???????????????????業(yè)并購??。?????????????。2023年全球化工行業(yè)并購展望|2023年并購展望概述?GlobalGlobalchemicalindustrymergersandacquisitionsoutlook2023|Summaryoutlookfor2023mergersandacquisitionsactivity???StanleyPorter??、???工業(yè)行業(yè)????sporter@AndrewBotterill??、???工業(yè)行業(yè)???????abotterill@deloitte.ca???化?行業(yè)????jengland@PhilHueber???phueber@JoelFlottum??jfottum@SaadatKhansaadakhan@DrewJohnson???drjohnson@312-486-3375UbirataBertelliCosta?????ucosta@VenusKennedy?????vkennedy@jillwang@德國MalteStoever合伙人mstoever@deloitte.deAlexanderKelleralekeller@deloitte.deMarcSchmitzmarcschmitz@deloitte.de瑞士KonstantinvonRadowitz合伙人kvonradowitz@deloitte.chAndreasKochandreaskoch@deloitte.chDonvanNeuren合伙人dvanneuren@deloitte.nlJustinHamers合伙人jhamers@deloitte.nlLeonardoClavijo????lclavijo@deloitte.frDaiYamamoto??????dia.yamamoto@tohmatsu.co.jpTetsuyaMatsumoto??????tetsuya.matsumoto@tohmatsu.co.jpSavanGodiawala?????sgodiawala@+917966827340MarkAdams?????mjadams@deloitte.co.ukLawrenceHunt??、???工業(yè)行業(yè)并購??????lhunt@??、???工業(yè)行業(yè)??????bpcornelissen@1./oil-markets-and-opec-in-2023/2./business/energy/gyrating-european-gas-price-forecasts-leave-companies-dark-2023-02-02/3./2023/02/02/european-central-bank-raises-rates-by-50-basis-points-pledges-further-hike-in-march.html4./business/fnance/banks-battle-shed-unsold-buyout-loans-sources-2023-01-31/5./us/en/insights/economy/spotlight/global-economic-outlook-2023.html6./business/fnance/Chemical-companies-stumbled-2022/101/i67./en/Investors/News-and-Events/News/2022/05/31/05/55/LANXESS-and-Advent-8./us/en/pages/mergers-and-acquisitions/articles/role-of-esg-in-deals.html9./news/ascend-buys-majority-stake-in-recycler-circular-polymers/10..br/usa/news-detail/braskem-invests-in-nexus-circular-to-accelerate-advanced-recycling-of-plastics11..br/usa/news-detail/braskem-extends-relationship-with-nexus-circular-through-mou-for-commercial-of-take-of-circular-plastic-feedstocks-from-new-advanced-recycling-facility12./en-us/news/press-releases/dow-takes-minority-stake-in-consortium-constructing-lng-import-t.html13./houston/news/2022/08/02/lyondell-basell-houston-refnery-recycling.html14./Company/Circular-Economy/Solutions/Pages/Our-investment-in-France.aspx15./Company/Circular-Economy/Solutions/Pages/build-better-circle.aspx16./global/en/media/news-releases/2021/09/p-21-327.html17./articles/russian-gas-cuts-threaten-worlds-largest-chemicals-hub-11656316625?mod=Searchresults_pos7&page=118./en/news-media/news/2022/aramco-agrees-to-acquire-valvoline-global-products-business19./news/shared-news/ineos-and-sinopec-sign-three-signifcant-petrochemical-deals-with-an-aggregate-value-of-$7bn/20./news/dupont-announces-agreement-to-divest-majority-mobility-and-materials-segment-to-celanese.html21./news/articles/2022-05-31/royal-dsm-agrees-to-merge-with-swiss-fragrance-maker-frmenich22./corporate/news/news-archive/2022/dsm-announces-sale-of-engineering-materials-business.html23./corporate/news/news-archive/2022/dsm-announces-sale-of-protective-materials-business.html/"Powerwithbiology()/en/press-releases/american-securities-acquires-meridian-adhesives-group-from-arsenal-capital-partnersLANXESSandAdventInternationalestablishaleadingglobaljointventureforhigh-performanceengineeringpolymers/resources/media-center/corteva-signs-agreement-to-acquire-stoller-group.htmlHYPERLINK"/resou