HOUSTON (Scrap Monster) : The global demand for polyethylene(PE) is expected to record an annual growth of 5% between 2012 and 2017, says industry expert.
Nick Vafiadis of Houston based HIS Chemical was speaking at the HIS World Petrochemical Conference which was being held at Houston recently. According to Nick, the global demand for polyethylene is poised to touch 216 billion pounds by 2017.
The North American total PE capacity will be boosted by a series of expansion plans in addition to the 11 billion pounds new PE capacity scheduled to open up in North America shortly. The output capacity will be further bolstered with the setting up of new facilities by Ineos Group and Dowe Chemical Company.
The new North American PE capacities will cater to the increased demand from overseas market and will boost the PE exports from the region. The domestic demand is also likely to improve simultaneously. The processors need to find ways to market their finished products in international markets.
Not all regions of the world will benefit from the capacity expansion. The Middle East countries and China may see more demand for PE products whereas European market may remain subdued only.