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Global Petrochemicals

Biding Time Till Capacity Surge

7:46 AM MDT | March 31, 2008 | Rebecca Coons with Natasha Alperowicz and Ian Young

Massive capacity additions, mainly in the Mideast as well as Asia/Pacific, are expected to drive industry operating rates lower and depress petrochemical margins by next year, analysts say. Mideast capacity “will occupy a greater and greater share of international trade of olefin derivatives that is nearly impossible to compete with,” says Mark Eramo, executive v.p./olefins & derivatives at CMAI (Houston). “More than 9 million m.t./year of ethylene capacity is expected onstream in the Mideast by the end of the first quarter of 2009,”...

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