Episode 1022: Think Tank: Europe PE, PP panic confirm persistent demand collapse
Europe’s polyethylene (PE) and polypropylene (PP) markets are suffering from chronic oversupply and poor demand as new capacities elsewhere target the region. - Europe PE, PP markets tally with LANXESS CEO warning of collapsed demand- Europe PE, PP see chronic oversupply, poor demand- Prices crash as all downstream sectors except automotive suffer- Consumers choose products with cheaper packaging- Convertors switch to cheaper polymers such as polyethylene terephthalate (PET) and polyvinyl chloride (PVC)- Europe PE, PP producers operate at minimal rates of 65-70% - Consumers spend on travel and services, not goods- Time to move on from business as usual approach