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Petrochemicals: Ready for Recovery

7:51 AM MST | January 8, 2010 | Lindsey Bewley

Petrochemical producers expect another challenging year for the industry, as demand begins to rebound just as the market prepares for an onslaught of new capacity to come onstream in the Mideast. Conditions, however, are improved and less dire than 2009. “There will be some modest GDP growth of about 3%-3.5% in 2010 or 2011, assuming there is no stumble in recovery late this year. Some product lines, like those associated with durable goods, may show better than average growth next year, in excess of GDP,” says Mike Devanney, senior consultant at SRI...

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