Posted 12/5/2023, 7:00:38 AM
India Braces for Mounting Oversupply Issues With New Petrochem Plants Coming Online
- Two new petrochemical plants coming online in India in early 2023, adding to existing oversupply issues
- Demand growth weaker than expected domestically and internationally due to economic slowdown
- India facing mounting ethylene and propylene surplus, further pressuring PE and PP prices
- Refiners suffering losses with current PE/PP margins below breakeven costs
- Expert forecasts predict growing global ethylene/propylene oversupply over the next decade, signaling extended difficult market conditions