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Markets :: Basic Chemicals :: Petrochemicals :: Styrene
APIC: Styrenics in Dire Shape
8:01 AM MDT | May 13, 2010 |
The global styrenics picture is bleak, said Vince Sinclair, director styrenics and phenol/Asia at CMAI (Singapore) at today’s APIC conference in Mumbai. The polystyrene (PS) market is oversupplied to the tune of 4 million m.t./year in a global market that totals 10 million m.t./year. The two largest producers BASF and Dow Chemical, “grandfathers” of the industry, are quitting the business, Sinclair says. The PS market was last in a good shape in 1994 when capacity utilization rates reached 90%. To get back to 90% utilization rates, 4 million...
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