Challenges of Maintaining Competitive Specialized Chemical Assets in Europe

High costs and cheap imports from Asia may force the owners of integrated petrochemical sites in Europe - such as Indorama Ventures and BASF - to import feedstocks and cease local upstream production.    

-          Indorama suffers low operating rates, poor profitability

-          Six upstream sites under review for closure

-          More feedstocks in Asia as refineries start up, less in Europe

-          Moves may not be enough to save downstream plants

-          Massive capacity growth in China means more trade barriers needed

-          Chemicals CEOs need to prepare for constant instability