The cyclicality of the ethylene business has been a constant for many years. Balancing the addition of new capacity against a forecast for demand growth in a manner that does not create significant l..
The cyclicality of the ethylene business has been a constant for many years. Balancing the addition of new capacity against a forecast for demand growth in a manner that does not create significant length or severe shortfalls has proven to be impossible, according to Mark Eramo, executive vice president of olefins and derivatives with market consultancy CMAI. He assessed the worldwide ethylene landscape in a recent conference presentation.
The year 2008 appears to be a year of transition. The combination of slowing demand growth and high energy is causing a decline in cash margins. By year-end, as the market feels the impact of the next wave of capacity additions in the Middle East—
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