Analysts Say Chemical Industry is in Store For More Decline

Dec. 16, 2008

A recent article from the Royal Society of Chemistry notes that the chemical industry in Europe and North America is set to record its biggest declines in output for over two decades during 2008 and 2009, as it struggles with a sharp drop in demand for its products.

Forecasters are expecting that the decrease in chemicals production will be relatively short lived in the key regions of North America, Western Europe and Japan. After diving steeply in the fourth quarter of 2008, output is likely to start to pick up again in the second half of 2009. But it will take much longer before the industry starts to grow at the rate it has in recent years.

To read the full article, click here:

Sponsored Recommendations

Keys to Improving Safety in Chemical Processes (PDF)

Many facilities handle dangerous processes and products on a daily basis. Keeping everything under control demands well-trained people working with the best equipment.

Get Hands-On Training in Emerson's Interactive Plant Environment

Enhance the training experience and increase retention by training hands-on in Emerson's Interactive Plant Environment. Build skills here so you have them where and when it matters...

Managing and Reducing Methane Emission in Upstream Oil & Gas

Measurement Instrumentation for reducing emissions, improving efficiency and ensuring safety.

Heat Recovery: Turning Air Compressors into an Energy Source

More than just providing plant air, they're also a useful source of heat, energy savings, and sustainable operations.