Facing competition: With foreign competition shadowing European petchems and little in the way of investment from key players, could this mean a demise ahead? (Europe).(Statistical Data Included)

From: Chemical Market Reporter | Date: March 25, 2002 | Copyright information

There is no hiding from the fact that 2001 was a very difficult year for Europe's petrochemicals players. Demand reduced dramatically -- exacerbated by destocking along the chain -- leaving an overcapacity situation and causing much reduced margins. It looks as if 2002 will be pretty challenging as well.

Globally, last year was one of the worst ever for petrochemicals. But in Europe, players point back to 1992-93 when margins across the olefins/polyolefins chain were even lower. In polymers, for example, utilisation rates last year were better than in the early 1990s, but ...

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