Introduction

Stock markets around the world are surpassing previous highs while the chemical industry continues to be bogged down by low demand, poor profitability and rising overcapacity.  

-          Chemicals supply/demand imbalance will persist even if economy picks up

-          China, Middle East will continue to add capacity

-          China chemicals demand growth could be low or even negative

-          Stock markets dominated by technology companies

-          Valuations bloated by past era of cheap borrowing

-          Stock market bubble could burst 

-          More trade barriers likely to protect European industry
-          Demographics will continue to drag on GDP growth