GlobalData Logo  China Sets the Petrochemicals Industry on the
Road to Recovery    • RSS Feed  Demand for petrochemicals in
China has counteracted the decline in demand from end-use
sectors during the recession, according to a new report from
GlobalData, the industry analysis specialist.  The new report*
suggests that while a slowdown in end-use sectors resulted in a
reduction in the demand for downstream petrochemicals across the
globe, increased demand for imports from China directly
benefited producers in countries such as Saudi Arabia, Japan,
Korea and the US, where supply had started to outstrip demand.
Poor demand from end-use sectors was the major reason behind
this; automotive and construction sectors suffered from stagnant
consumer spending, while the poor economic landscape and the
crash of the US housing market made customers reluctant to
invest in real estate.  The automotive sector was the biggest
casualty of the economic downturn, as supply greatly outstripped
demand. In 2009, automotive produc