2012 petrochemical outlook: United States
The boom in oil and gas is creating both demand side (e.g., pipe mills, oilfield machinery) and supply-side (e.g., chemicals, fertilizers, direct iron reduction) opportunities.
The global economy has reached a critical state. Last year represented the third year of the global economic recovery. However, the pace of improvement slowed as higher energy prices, the disasters in Japan, the Eurozone crisis and the influence of other negative factors spread. A global soft patch emerged and has been centered in manufacturing. Unfortunately for chemistry, the manufacturing sector represents its major end-use or customer base.
The consensus forecast is for continued but slow economic growth, well below trend growth through 2013. This is consistent with a recovery from a financial crisis, and it is likely that economic growth will not reach long-term trend levels until 20
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