GPCA 2010: Demand Rebounds but Supply Additions Still Loom

Demand for global petrochemicals has rebounded stronger than expected in 2010, Gary Adams, president of CMAI (Houston) told attendees at the fifth annual GPCA Forum currently being held in Dubai. Demand is being driven by emerging economies, with Asia and India leading the way, Adams says. “The rebound has been quite strong, and demand growth is now tracking at just over 5%/year,” Adams says. Between 2000-2005 the demand for basic petrochemicals and plastics was growing by about 20 million m.t./year; CMAI now expects growth to be about 35 million-40 million m.t./year between 2010-2015.

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