VIDEO: UK chemicals healthiest in Europe, threats remain
Will Beacham
07-Jul-2015
LONDON (ICIS)–UK chemical sector production is set to
grow by a healthy 2.5% this year, fuelled by strong domestic
demand growth and export markets, according to Stephen
Elliott, CEO of UK trade group the Chemicals Industries
Association.
He describes UK chemicals as “the
healthiest chemical economy in a European context”. However
the UK faces huge competition from the US, Asia and the
Middle East. This makes exploitation of UK shale gas
vital.
Importing US ethane will be an opportunity
to rebuild chemicals supply chains in the UK, he adds.
Elliott also gives his personal perspective on the forthcoming UK in/out referendum on membership of the EU.
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