Webinar - What is the latest outlook for the global polyolefins industry?
Global polyolefins demand has maintained two percent growth in 2020. The resilience has been demonstrated by its use in consumer and medical packaging, as well as personal protective equipment (PPE) that are essential to the COVID-19 response. The pandemic crisis exacerbated the downturn in the automotive and construction sectors that however experienced some recovery in the second half of 2020. Global operating rates were maintained in 2020, but are expected to decline over the next few years due to limited demand growth and new capacity coming onstream. Plastics’ use in PPE slightly redeemed public perception through 2020, and anti-plastics sentiment occupied less public and media attention than at the beginning of 2020. However, low oil prices made recycling economics more challenging, and COVID-19 contamination concerns and labour restrictions reduced collection and sorting capacity.