20% of European polyolefin demand to shift to the Middle East by 2015

17-May-10

Almost 20% of European polyolefin demand currently satisfied by domestic suppliers will shift to the Middle East by 2015 as per ICIS. By 2015, the global industry will have an over-capacity of 15%, leading to plant closures in matured economies like Europe and Japan. This is leading to plant rationalisation in these regions. Polymer demand would continue to grow at around 4%, migrating heavily to Asia as China’s polyolefin growth rate would double between 2000 and 2020.