Asian Chemical Connections
Asia’s petrochemical industry is expected to weather a slowdown in China’s economy, but will need to quickly adapt to the gas revolution in the US, and the poor naphtha economics in order to sustain global competitiveness, top industry officials said on 16 May.
Petrochemical consumption in the region is expected to post a 4.5-5% growth this year, but this hinges on the key China market, which absorbs most of Asia’s petrochemical exports, said Shri Karmal Nanavaty, vice president of the Chemicals & Petrochemical Manufacturers’ Association of India.
INSIGHT: Lower oil price hits major petchems but stimulates demand
"We have a curious but perhaps not atypical situation in Europe currently."
VIDEO: ICIS special report - impact of lower crude oil prices