COVID, Capacity: additions and rationalizations, when will we see a Comeback for industry margins?
COVID vaccines have been developed which offers optimism for reopening of economies and a return to historical olefin demand growth. The big issue is the overbuild in capacity in the world of olefins during 2020 and that anticipated to start up in 2022 and 2023. Without rationalization, it will take time to absorb the overbuild. Will rationalization of less competitive assets play a role in a quicker return of margins.