A diverse array of political policies and legislative measures are poised to stimulate demand across the chemical industry in 2024.This surge is anticipated as a result of projects spanning areas such as 5G network expansion, housing developments, and various infrastructure initiatives eagerly awaiting government funding. Industry experts concur that numerous projects, initially slated for 2023, have been postponed to 2024 due to pending government financial support.
This delay is expected to heighten the demand for materials such as wire and cable, composites, and concrete, along with other infrastructure-related products.The availability timeline of these funds appears to be a key factor influencing demand trends in several downstream industries, subsequently impacting the chemical industry’s production capacities and sales.
