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GPCA 2009: Downturn Has Shaved Three Years from Petchem Growth

8:54 AM MST | December 9, 2009 | Robert Westervelt in Dubai

A broad-based recovery in petrochemicals will not come quickly despite the resumption of demand growth in second-half 2009, says Stephen Pryor, president of ExxonMobil Chemical. “We estimate that combined demand for polyethylene (PE), polypropylene (PP) and paraxylene (PX), will not reach 2007 levels until 2011,” Pryor said in a speech to delegates at the Gulf Petrochemicals and Chemicals Association forum in Dubai today. “Moreover, unprecedented announced capacity additions should come on-line during this period, resulting in weak capacity...

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