Episode 1079: Think Tank: Era of rapid change heralds winners and losers; trough conditions to persist

Macroeconomic, political and environmental upheaval will create chemical industry winners and casualties over the next few years; trough conditions will continue into 2024. -          Dire Q3 chemicals results herald more trough conditions in 2024-          Expect capacity closures, consolidation to help balance market-          China petrochemical demand growth slowing from 6-8%/year to 1-3%-          Other emerging countries face climate change challenges-          Mature markets suffer aging populations, lower consumption-          Zero carbon agenda, recycling pose new challenges-          Winners – owners of huge crude-to-chemicals complexes, new low carbon crackers-          Losers – Singapore, South Korea, Europe, Taiwan, Japan-          Some state-owned regional players, niche recyclers will be safe-          Unsustainable levels of central bank debt may destabilise Japan, other Asia economies