Intro

Participants at the Asia Petrochemical Industry Conference (APIC) expect chronic oversupply conditions hurting the chemical sector will start to rebalance by 2028-2030. 

-          China overcapacity, trade war is causing an unprecedented crisis

-          Polyethylene (PE), polypropylene (PP), paraxylene (PX) in structural oversupply

-          Hopes for rebalancing by 2028-2030 as plants shut down, capacity build slows

-          Demand is flat but India is the exception – a beacon of growth for the region

-          Taiwan, Thailand struggle to compete against China, Middle East

-          Trade war will cause “cataclysmic” changes in global trade

-          Sustainability still seen as a growth driver, especially for polymers

-          Growing reliance on US ethane for chemical production in Asia