Competition between the Middle East and North America in the Petchem Market is Likely to Increase
CHEMMONITOR.COM - Middle East producers of petrochemicals are predicted to lose their market shares in the Asian and European regions in line with increased exports from North America.
All major petrochemical producers in North America are planning to raise their capacities by building new plants. Several companies are going to set up new crackers. Some producers, like multinational chemical company LyondellBasell, are in the process of debottlenecking current plants.
The activity in the North America petrochemical market was provoked by shale gas and oil discoveries that take place throughout the region.