04 October 2009 17:02 [Source: ICIS news]
By Nigel Davis
BERLIN (ICIS news)--More delegates than first expected, a buzz around the meeting hotels, and the usual queues for restaurants and taxis illustrate the fervour underlying this year's European Petrochemical Association (EPCA) meeting in Berlin.
Coming out of the trough of the demand slump brought about in late 2009 by the global credit crisis, producers are encouraged by recent demand growth. ?xml:namespace>
Thankfully, ethylene products supply from the
Some product will flow into
Clearly, however, European producers are prepared for a wave of
This cycle looks as though it might be ‘U’ shaped, INEOS Olefins & Polyolefins CEO Tom Crotty said on the EPCA meeting sidelines on Sunday. Next year should see some steady growth, but significantly healthier margins cannot realistically be expected until 2011. Encouragingly, he talked of 3% per annum polyolefins growth in Europe.
Managing business through an extended trough is going to test the operational and management capabilities of this industry to the full.
The EPCA meeting theme in
The centre of gravity of the business is moving eastwards away from North America and
Differentiation for companies resident in these large established producing regions will be essential.
Petrochemical producers need to be fit for purpose no matter where they are located. The migration of upstream and downstream production is taking place, but whether at greatly accelerated pace is open to question.
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