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

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