CHEMICALS, ICIS
ICIS: The Long-Awaited Chemical Industry Rebound Keeps Getting Pushed Out
Andrew Noel
ICIS: “The lack of demand is being felt across almost all of the chemical groups and geographies which ICIS reports on.
A new survey of all the ICIS news markets analysis published from 24-31 May shows that 47 out of the 48 articles published were negative on demand conditions, with one neutral.
The articles cover a wide range of chemical markets in Europe, North America, Asia and the Middle East. There are multiple reports of operating rate cuts, extended plant turnarounds, falling prices and poor margins.
The impact of poor demand and excess supply on chemical companies has been severe with many suffering steep falls in margins and profitability as Q4 2022 and Q1 2023 financial results demonstrated.
Many market participants are now pinning their hopes on a rebound in 2024 as there are no signs of improvement for the second half of this year.”
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