Maack Polyolefins Congress: Fight for Market Share Will Be Tough; 15 Million m.t./year of Ethylene Capacity Could Disappear

The global recession has hurt the petrochemical industry and plants are operating below capacity, delegates heard today at Maack Business Services' (MBS) 18th annual PEPP Congress, currently being held in Zurich. "A long trough of low operating rates is inevitable" in the ethylene sector, "because of the very large build up of new capacity in the Middle East and China," says John Pearson, president of Access Intelligence Chemical Groups. About 3 million m.t./year of ethylene capacity will have to be taken out by 2012 to bring capacity and...

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