Petrochemicals Overview

July 2002
U.S. Industry Quarterly Review: Chemicals;2002 3rd Quarter, p33
Industry Profile
Industry Overview
The article highlights petrochemical industry of the United States. In the wake of economic recession in 2001, the petrochemical industry witnessed a decrease of 10 per cent in demand. The situation was no different in Europe and Asia either. However, market fundamentals have slowed in the second half of 2002, along with the U.S. economy. Energy prices have fluctuated wildly, but on average, have been up sharply in 2002. The U.S. operating rates have climbed to the mid-90 per cent range in the first half of this year, a marked improvement from last year's average 80 per cent rate.


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