ChemOrbis 6th Asia Petrochemical Conference: Global trade patterns shifting for polyolefins
Mr. Razak predicted that by 2020, the compound annual growth (CAGR) in global consumption of polyolefins will be 4.6% from 2015 to 2020, with China remaining the fastest growing region with a CAGR of 6.9%.
North America is expected to increase its PE capacity by around 5 million tons by 2018 following a new round of plant building triggered by the shale gas revolution. North America has the potential to triple its net exports of PE from 1 million tons in 2014 by 2020 and is expected to become a major net exporter to Asia and Western Europe while it also remain a key supplier to Latin America.
Touching on other shifts in global trade flows, Mr. Razak said that Asia would remain the world’s major PE net importer while the Americas and Africa will become the biggest net importers for PP by 2018 as the massive expansion of coal based PP capacities in China is anticipated to bring that country close to self-sufficiency in PP.
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