Episode 1244: Think Tank: Supply/demand mismatch dims prospects for chemicals recovery
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Petrochemical markets are likely to remain depressed while China and other countries continue to add significant capacity, unless big wave of closures and demand improvement help to achieve balance. - Global capacity additions far outstrip demand growth- China, Middle East, US likely to continue expansions- China drove the petrochemical supercycle, but no longer- China chemicals demand growth likely only 2-4%/year - Prospect of global deflation- Europe can focus on specialty chemicals, other niches