Petrochemical capacity additions to slow 2002-12

Petrochemical production capacity additions will slow 2002-12. From 1992 to 2002, worldwide capacity for the top 97 petrochemical products increased by almost 400 million tonnes/year (tpy). Announced planned expansions for 2002-12 total only about 150 million tpy.The result of one of the longest chemical industry downturns in history (1997-2003) is that companies are reluctant to expand capacity even with apparent tight market prospects.Substantial new capacity will be needed 2007-12 for most of the products that SRI Consulting covers. Some products are already showing a need for further expansions such as methyl methacrylate, styrene, and the polyester chain.Petrochemical companies with ...

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