Asian Chemical Connections
Europe-headquartered chemical companies are relying on emerging markets to drive growth in 2013 amid continuing lacklustre domestic macroeconomic conditions.
BASF is basing its 2013 outlook on global chemicals production growth of 3.6% and global economic growth of 2.4%.
"Overcapacity is gradually being filled now, and will reach more of a normal capacity utilisation"
Marijn Dekkers CEO, Bayer
Generally, weak economic conditions persist and the chemical giant's apparent optimism - or should that be belief that things must get better? - is difficult to square with the dire state of Europe's major economies, combined with only lacklustre economic growth in the US and ongoing weakness in China.
INSIGHT: China may see major ethylene shortfall by 2019
"At $50-90/bbl for Brent, UBS estimates the internal rate of return (IRR) for China CTO/MTO projects range from 5-10% – mostly too low to justify inve
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