How the Global Chemical Market is Shifting with John Richardson of ICIS - Ep 179
Ep 179 Show Notes
Geopolitical shifts, economic challenges, and sustainability goals are reshaping the global chemical industry. John Richardson, senior consultant at ICIS, joins host Victoria Meyer to delve into the market's uncertainties and logistical issues affecting Europe, the repercussions of the Russia-Ukraine war, and the potential of developing markets like India and Africa. John sheds light on critical issues such as the demand-supply imbalance for commodity chemicals, Europe's struggle with high energy costs, and China's evolving role from a dominant importer to a potential major exporter of synthetic resins.
Victoria and John also explore the wider scope of sustainability within the chemical industry, examining Europe's pursuit of a circular economy amidst complex regulatory landscapes and fluctuating geopolitical risks. They discuss the impact of demographic changes on consumer behavior, and the shifting focus towards eco-friendly products. Tune in to gain a comprehensive understanding of the forces shaping the chemical market's future, from rising sustainability efforts to adapting strategic decisions in a dynamically changing global landscape.
Join us to gain insights on the following topics this week:
- Chemical markets in the 2nd half of 2024 and leading into 2025
- Overcapacity and supply-demand imbalance
- China's economic slowdown and demographic changes have significantly impacted global chemical demand.
- The rising middle class in developing countries, including China, India, and others, has driven increased demand for chemicals and plastics
- Geopolitical tensions have disrupted supply chains, increased energy costs, and created uncertainty in the market
- Circularity struggles - infrastructure, regulatory hurdles, and feedstock availability
- 10 interconnected forces shaping the new global chemical landscape
- Big commodity chemicals winners and losers
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