Demand, capacity follow economic growth to Asia

The geographic balance of global benzene capacity will shift eastward to emerging countries in Asia/Pacific for the rest of this decade—the opposite direction to the olefins capacity shift, which will be westward, to cost-advantaged North America—says Martin Wiesweg, director/polyethylene terephthalate, polystyrene (PS), and expandable polystyrene (EPS) at IHS Chemical. Speaking at the IHS Chemical Market Seminar, held during the recent European Petrochemical Association’s annual meeting in Budapest, Wiesweg said that relatively little new...

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