Petrochemical industry outlook improves from a year ago levels

The outlook for the petrochemicals industry has improved significantly from a year ago due in large part to the economic recovery in emerging countries as per ICIS. As the pace of recovery is healthier in emerging economies as compared to the slower pace of recovery in the developed world, it seems that Brazil, China and India are poised to lead the way out of recession. The outlook for the Barzilian petrochemical industry is very optimistic as compared with a year ago. Demand for petrochemicals in Brazil is stable, evident in the 1.9% growth of economy in Q2-09. Petrochemicals demand in Brazil is forecast to remain robust at 5-6% as the country readies to host the World Cup in 2014 and the Olympics Games in 2016.
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