Episode 1348: Think Tank: Asia pins hopes on supply/demand rebalance by 2028-2030
Participants at the Asia Petrochemical Industry Conference (APIC) expect chronic oversupply condi...
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Show Notes
Participants at the Asia Petrochemical Industry Conference (APIC) expect chronic oversupply conditions hurting the chemical sector will start to rebalance by 2028-2030.
- China overcapacity, trade war is causing an unprecedented crisis
- Polyethylene (PE), polypropylene (PP), paraxylene (PX) in structural oversupply
- Hopes for rebalancing by 2028-2030 as plants shut down, capacity build slows
- Demand is flat but India is the exception – a beacon of growth for the region
- Taiwan, Thailand struggle to compete against China, Middle East
- Trade war will cause “cataclysmic” changes in global trade
- Sustainability still seen as a growth driver, especially for polymers
- Growing reliance on US ethane for chemical production in Asia