Pandemic drives shift to circular economy, $400bn petchems investments at risk

ICIS - chemical podcasts

English - September 07, 2020 00:00 - 26 minutes - 36.3 MB
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Coronavirus is accelerating the shift from a linear to circular economy, putting $400bn in petrochemical investments at risk or redundancy.
- “Peak Plastic” reached on switch from linear to circular economy
- $400bn in petrochemical investments may become redundant
- No deal Brexit increasingly likely from January 2021
- Chemical companies must ensure they and their suppliers are ready
- Must understand complexity of customs procedures, rules of origin requirements
- Extra time for UK Reach compliance welcome but questions over data access
- Suppliers/manufacturers may withdraw from UK market
- Coronavirus means more companies may cut UK and focus on larger EU27
- China polyester recovery is supply, not demand-led
- Pessimism on export demand for Christmas/Thanksgiving
- Only weak bounce back evident in petrochemicals
- Pandemic hurting emerging nations badly, could take a generation to recover

Listen to this podcast interview with Paul Hodges, chairman of International eChem; John Richardson senior consultant, Asia for ICIS and Nigel Davis, ICIS Insight editor.