13 December 2012 18:49 [Source: ICIS news]
By Joseph Chang
“Most forecast models are demand-driven, but the
“Models don’t capture the supply side. While the consensus outlook calls for production growth in the 2-5%/year range, we think the growth profile will be much higher,” he added.
For the coming years, he sees US chemical production volumes, excluding pharmaceuticals, rising by 2.9% in 2013, followed by a 5.4% surge in 2014 and another 6.0% jump in 2015.
Already there have been over 50 chemical projects requiring capital investment of more than $40bn (€31bn) announced in the
“We see shale gas fuelling the
The ACC projects US chemical exports will rise 4.7% to $199.7bn in 2013, 6.6% to $212.8bn in 2014, and 7.0% to $227.8bn in 2015.
While imports are also expected to rise in the coming years, the ACC expects US chemical trade surpluses rising every year from $1.2bn in 2012, to $6.4bn by 2017.
($1 = €0.76)
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