Source: American Chemistry Council
North America remains an attractive destination for chemical industry investment,” says the report. “Since 2010, petrochemical producers have announced significant expansions of capacity in the U.S., and the momentum is not over
HOUSTON (PRWEB) February 21, 2020
Demand for plastics will help the downstream industry grow over the next five years in spite of economic headwinds, says a new report from Reuters Events.
The Reuters Events 2020 Downstream Market Outlook Report confirms the U.S. chemical industry will outperform the national economy and the sector’s previous 20-year average growth rate over the next half decade, based on an annual increase in plastics demand of more than 4% a year.
This growing demand, along with plentiful and affordable natural gas and natural gas liquids feedstock supplies, will help sustain a downstream investment boom that has already seen $204 billion being poured into 334 chemical and plastics projects across the U.S.
“North America remains an attractive destination for chemical industry investment,” says the report. “Since 2010, petrochemical producers have announced significant expansions of capacity in the U.S., and the momentum is not over.”
Other key themes explored in the 125-page report include:
- The effects of poor project execution in downstream’s first wave of U.S. investment.
- The impact of trade tensions between the U.S. and Canada, China and Mexico.
- How the downstream sector is preparing for a circular economy.
- Downstream’s moves to foster diversity and inclusion.
- What can be done to address workforce challenges?
- Big oil’s plans for the petrochemical industry.
The 2020 Downstream Market Outlook Report is being launched in the run-up to the Downstream 2020 Conference and Exhibition, which takes place on June 10 and 11, 2020, at the NRG Center in Houston, Texas. For a copy of the report click here and for more information about Downstream 2020 download the event brochure or write to sasha@petchem-update.com.