Dubai, United Arab Emirates - Monday, November 12th 2012 [ME NewsWire]
· Markets are shifting eastward: The Chinese petrochemical products market is set to grow by around 6% a year by 2015 – the Middle East by as much as 11%
· New suppliers from the Gulf States and Asia have captured market share thanks to significant price and transport advantages
· Growing pressure on margins across the European petrochemical industry
· Suppliers from Asia and the Gulf States face the challenge of developing know-how in efficiency
· European and US players must realign their business models to offset competitive disadvantages
Rising oil and gas prices, growing demand from Asia and other emerging economies and strong global
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