Asian refiners look for answers in petrochemicals as EVs threaten transport fuels' future
Oil Markets
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Petrochemicals Demand in the Medium to Long Term
Asia alone will dominate the base chemical demand growth globally, accounting for roughly 80%, 80%, 80% of the entire petrochemical demand growth. The capacity of surplus in the petrochemical sectors would continue to cause a downturn of the base chemical margins likely through at least to the year of 2025. We are estimating that NAFTA demand growth going forward will see the highest absolute increase among all of those key refined products demand growth till 2050.
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