PODCAST: pandemic drives shift to circular economy, $400bn petchems investments at risk

Author: Will Beacham


BARCELONA (ICIS)--Coronavirus is accelerating the shift from a linear to circular economy, putting $400bn in petrochemical investments at risk or redundancy.

  • “Peak Plastic” reached on switch from linear to circular economy
  • $400bn in petrochemical investments may become redundant
  • No-deal Brexit increasingly likely from January 2021
  • Chemical companies must ensure they and their suppliers are ready
  • Must understand complexity of customs procedures, rules of origin requirements
  • Extra time for UK Reach compliance welcome but questions over data access
  • Suppliers/manufacturers may withdraw from UK market
  • Coronavirus means more companies may cut UK and focus on larger EU27
  • China polyester recovery is supply, not demand-led
  • Pessimism on export demand for Christmas/Thanksgiving
  • Only weak bounce back evident in petrochemicals
  • Pandemic hurting emerging nations badly, could take a generation to recover

Listen to this podcast interview with Paul Hodges chairman, International eChem and author of the pH Report; John Richardson ICIS senior consultant, Asia and ICIS Insight editor, Nigel Davis.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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Interview by Will Beacham