CERI: Global petrochemical recovery seen by yearend

07/07/2003
The global petrochemical industry will begin a fundamental demand recovery by Dec. 31, and the US likely will become a net petrochemical importer by 2009, a consultant forecast.Chemical Market Associates Ltd. Pres. Gary Adams told a Canadian Energy Research Institute (CERI) conference last month that the global petrochemical market suffers from poor profitability following 7 years of declining earnings.The pace of petrochemical capacity additions is low, he said, blaming geopolitical uncertainties, global warming concerns, corporate scandals, tension in the Middle East, and the Sept. 11, 2001, terrorist attacks on the US.Adams believes that petrochemical capacity additions in the US and C...
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