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

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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