BLOG: Sustainability, the pandemic, demographics and geopolitics – how petchem companies will define their success

LONDON (ICIS)–Click here to see the latest blog post on Asian Chemical Connections. The four megatrends – sustainability, the pandemic, demographics and geopolitics – are reshaping how petrochemicals and other companies must operate. On sustainability, petrochemicals producers face the twin pressures of refinery closures threatening feedstock supply as brand owners demand packaging made from plastic waste. The collapse of oil prices, of course a product of sustainability, threatens geopolitical instability – just one aspect of today’s highly uncertain and volatile geopolitical world. it is also an example of the interplay between the four megatrends. Ageing populations in the West and China will result in very different demand patterns. China’s ageing population helps explain its split with the US – the biggest of all the new geopolitical trends. The country’s ageing population is also why it is pushing hard towards petrochemicals self-sufficiency.

Tomorrow’s Winners versus Losers will be determined by how companies respond to the megatrends.

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