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.
Read this week's ICIS Chemical Business
ICIS is organising regular updates to help the industry through this time of crisis. Register here
Read Paul Hodges ICIS Chemicals and the Economy blog
Read John Richardson's Asia Chemical Connections blog
Click here to read the latest free pH Report Outlook newsletter
Interview by Will Beacham