PODCAST: Supply chain crisis delaying inevitable downturn for chemicals
BARCELONA (ICIS)–Congested global supply chains are masking a downturn in demand for chemicals, driven by China’s slowing economy, high energy prices plus falling consumer confidence and spending.
- Supply chains full of inventory as purchasing managers have over-ordered
- Inventory will be released as supply chain pressures ease
- Big ramp-up in chemicals capacity in China
- Slowing China poses major risk to global chemicals demand
- China could export surpluses globally, deflating prices
- Oversupply, poor demand risk for 2022
- Consumers may switch to spending on services, dampening industrial demand
- Chemical prices fell dramatically in December, suggesting low demand
- High energy prices hurt consumer spending, sentiment
In this Think Tank podcast, Will Beacham interviews ICIS Insight editor Nigel Davis, ICIS senior consultant Asia John Richardson and Paul Hodges, chairman of New Normal Consulting.
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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