PODCAST: Start of year chemicals uptick may be a false dawn

BARCELONA (ICIS)–Signs of slight improvement in production and demand in early 2023 may not be proof that a real recovery is underway for the global chemicals industry.

• ICIS data shows mild pick up in pricing, production
• More optimism in chemical industry
• But no strong evidence of uptick in demand
• Persistent weakness in construction, automotive, electronics
• Rising production may simply be inventory building
• Global economy hit first by energy price shock, now inflation, rising interest rates
• Prospect of persistent downturn
• Tepid GDP forecasts for 2023
• Flood of excess polypropylene (PP) threatens global market

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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Read Paul Hodges’ and John Richardson’s ICIS blogs.