Global Petrochemical Overhauls

Markets across the globe are taking a serious look at production and capacities, and recently have seen a wave of consolidation in the face of trade issues and tariffs resulting in global petrochemical overhauls. Most recently, South Korea announced a reduction of Naptha cracking capacity of nearly 25%. Many other markets are taking a close look at both supply and demand, with further consolidation and restructuring likely in the face of global overcapacities.