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    Home > Chemicals Industry > Rubber Plastic News > The pace of economic recovery and demand dynamics determine the growth of plastics industry in Southeast Asia

    The pace of economic recovery and demand dynamics determine the growth of plastics industry in Southeast Asia

    • Last Update: 2022-08-25
    • Source: Internet
    • Author: User
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    COVID-19 continues to ravage the world, severely damaging global and regional economic growth


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    They have even been forced to rationalize certain business spending plans, including reducing non-essential spending and deferring certain expansion projects, to mitigate the impact of COVID-19


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    Dayanand Kharade, Oil and Gas Analyst at GlobalData, commented: “Operators of petrochemical companies focus on strategic needs and adjust project timelines accordingly


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    The increase in polymer capacity has been concentrated in Indonesia, primarily targeting growing domestic demand and reducing reliance on imports


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    Kharade concluded: “Polymer demand in Southeast Asia is expected to decline in 2020 as demand in construction, automotive and other sectors weaken


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