Episode 1029: Think Tank: Global cracker rates fall amid falling volumes, rising supply

Cracker operating rates around the world are falling as sales volumes decline and new capacities create more imbalance between supply and demand. -          Global cracker operating rates 80% 2022/23 from 90% in 2015-          Chemical sales volumes decline double-digits in Q1, Q2, Q3-          US cracker will have to run at reduced operating rates-          Golden Triangle Polymers project in Texas, will add 2m tonne/year capacity in 2026-2027-          Europe will rationalise cracker fleet-          INEOS One, Sabic Wilton, UK crackers will lighten Europe feedstock mix-          Netherlands-based cracker expected to close in 2024-          China will continue to import cheap US ethylene-          Expect revisions to forecasts for 2023