April 2008

Special Report: Petrochemical Developments

What is the outlook for the global chemistry industry?

Many factors are reshaping the economics of this industry—many beyond the control of manufacturers

Gilchrist Moore, M., Swift, T. K., American Chemistry Council

At the end of 2007, it's clear that global economic growth is slowing. The housing downturn has adversely affected the US and the ensuing credit problems (and subsequent tightening) have spread to other nations. A key issue is whether or not the weakness has done enough damage to tip the economy toward recession. The general consensus is that the US will avoid a downturn but will experience a slowdown with slowing prospects for the broader global economy. Global industrial activity will parallel these trends, although an inventory correction may foster a stronger deceleration of factory activity.* This will affect global chemistry demand and, as a result, growth will moderate in 2008. For th

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