Webinar - What is the latest outlook for the global polyolefins industry?
Global polyolefins demand grew by 5-6 percent in 2020. Global demand has been sustained by increasing use of consumer and medical packaging, and PPE (personal protective equipment) that are essential to the pandemic response. Automotive and construction sectors experienced recovery in the second half of 2020 when economies reopened.
The global polyolefins demand is expected to increase by 4-5 percent in 2021, moderately lower than that experienced in 2020, as economies recover and demand resulting from pandemic response wanes.
Global operating rates are expected to drop over the next three years, reaching a trough in 2024 as a result of reduced demand growth and new capacity coming onstream across the globe. Beyond the short-term turbulence resulting from COVID-19, the polyolefins market growth rates are projected to fall behind GDP during 2035 to 2040 due to market maturity and sustainability development