Following the economic slowdown in the US and Europe, a gradual demand shift has occurred from west of the Suez to east of the Suez. Asia-Pacific nations are the areas for energy and petrochemical-based product demand growth. After China, India is the next growth hub for chemicals. A steadily growing middle class, which is about one third of the population, is a significant driver in India’s economy and supports new petrochemical/chemical consumption. This young population with rising incomes is responsible for growing demand for consumer durable goods, such as automobiles and packaging. Petrochemicals constitute over 20% of the total chemical sector output—63% as polymers an
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