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Asian Chemical Connections

South Korea may have to shut 48% of its PP capacity in 2024-2030 to return to healthy operating rates

If South Korea kept all its PP plants open, 2024-2030 operating rates would average just 58% compared with 94% in 1990-2023. Profitability would obviously be very poor.

Or South Korea may permanently close an annual average of 430,00 tonnes/year of capacity – a total of 3m tonnes/year or 48% of capacity as of 2023. 2024-2030 operating rates would average a healthy 85%.

Winners and losers as demographics, debt, sustainability, geopolitics and crude-to-chemicals rewrite the rules of success

I BELIEVE WE are heading for the biggest period of change in the global petrochemicals industry since the 1990s.

This was when globalisation took off with the formation of the World Trade Organisation (WTO), when China’s economic boom began, when the global population was more youthful and before climate change became a major threat to growth.

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