특별 보고서

Global petrochemical players will continue to face challenges in the first half of 2022 after the emergence of the new omicron variant of coronavirus again hit the global economy. The petrochemical industry will need to adjust to a so-called "new normal" business environment of patchy demand recovery mixed with continued COVID-19 headwinds.

The use of bio-based material in petrochemical and plastics markets has come into ever-sharper focus this year as pressure grows from governments and wider society to plot a way from a fossil-based economy to a sustainable model with a far lower environmental impact. As the plastics industry looks to its own role within the wider energy transition, bio-plastics are one of the main options for retaining the benefits brought by the use of plastics while addressing environmental concerns.

The global petrochemical industry is expected to keep feeling COVID-19 fallout in the second half of 2021, with prices maintaining record highs in some regions balanced by new capacity startups in others. As global COVID-19 vaccine availability increases, more industrial activity should follow and consumption from end-users should in turn trend higher.

The global olefins/polymers market will continue to face challenges in H1 2021. Fresh supplies will be available in Asia in line with planned capacity expansions, while bullish naphtha feedstock prices put pressure on petrochemical margins. Petrochemical demand started recovering in H2 2020, but the impact from the COVID-19 pandemic lingers. S&P Global Platts examines the outlook for the global olefins/polymers markets for the first half of this year.

The global petrochemical industry finished 2020 on a strong note, despite having been pressured lower by the COVID-19 pandemic and a weaker energy complex. The end of the year saw prices beginning to recover and bullish sentiment in the market. Concerns around capacity growth and associated product length still persist, however. S&P Global Platts examines market expectations for the global aromatics sector during the first half of 2021.