PODCAST: Players face up to reinvention of chems sector post-EPCA

LONDON (ICIS)–Chemicals sector executives are increasingly facing up to the idea that the sector is going through a process of reinvention, with no big recovery on the horizon and a return to pre-crisis normalcy less likely.

Executives are now looking at next steps for the sector.

In this Think Tank podcast, Tom Brown interviews Paul Hodges, chairman of New Normal Consulting, Katherine Sale,  ICIS head of editorial strategy, and Chris Barker, senior editor covering PVC and caustic soda, on impressions from the EPCA assembly.

• Growing acceptance of no big demand recovery, while demographic shifts to an ageing population reduce potential future demand growth
• Consolidation trend likely to continue, but environmentally sustainable products offer a growing opportunity
• Mood at EPCA less muted than previous two annual meetings, but far from positive
• Energy pricing less of an issue in 2024 so far but worries remain for 2025, with the specter of high costs likely to speed closures
• Caustic soda, chlorvinyls markets continue to suffer amid low demand, with substantial closures seen as necessary to balance the market
• Upcoming EU clean industrial deal likely to be a benefit, but will not be the end of regulatory conversation in Europe
• Tariffs continuing to proliferate in Europe against lower-cost imports, but do not address underlying competitiveness issue