PODCAST/VIDEO: Global chemicals at tipping point as CEOs react to persistent downturn

BARCELONA (ICIS)–More chemical industry leaders are making bold strategic decisions to combat a multi-year downturn, driving their companies to focus on areas where they can seize a competitive advantage.

• China-driven overcapacity could imbalance global supply/demand until 2030
• Need for large-scale capacity closures to balance market
• Industry has reached turning point
• Companies can choose to focus on commodities or become specialty/low carbon players
• CEOs waking up to the need for a radical examination of their assets and strategies
• A trickle of announcements about closures and restructurings turning into a flood
• leaders such as BASF, Dow, LyondellBasell, Versalis take bold steps to reduce their commodity footprint in Europe

In this Think Tank podcast, Will Beacham interviews ICIS Insight Editor Nigel Davis, ICIS Senior Consultant Asia John Richardson and Paul Hodges, chairman of New Normal Consulting.

This is the audio version of a special ICIS Think Tank Live webinar (see below) recorded on 30 October.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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Read the latest issue of ICIS Chemical Business.

Read Paul Hodges and John Richardson’s ICIS blogs.