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How is the coronavirus affecting China’s petrochemicals sector?

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10 February 2020

How is the coronavirus affecting China’s petrochemicals sector?

Report summary

Measures introduced to curb the spread of the coronavirus outbreak in China are already disrupting economic activities and the country’s petrochemical industry is no exception. The extended Chinese new year holiday period and restricted movement are affecting the entire chemicals value chain: downstream demand is weak, plant personnel are being hindered in their return to work and plant operating rates are being lowered. Olefins and its derivatives as well as the aromatics chain are not being spared. We expect the new coronavirus outbreak will have a much bigger impact than the SARS (severe acute respiratory syndrome) outbreak did in 2003. While China’s chemical industry took a hit from SARS, it quickly recovered on the back of the country’s impressive economic growth momentum at the time. But the economic background isn’t so favourable in 2020.

Table of contents

  • Executive summary
  • How did the SARS outbreak in 2003 impact chemicals demand?
  • How is it different this time?
  • How will the latest outbreak impact supply and new project construction?
  • How will the new coronavirus outbreak impact chemicals demand?
  • How long the situation will last?

Tables and charts

This report includes 2 images and tables including:

  • China olefin plant and demand vs Coronavirus
  • Value chain impact

What's included

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  • Document

    How is the coronavirus affecting China’s petrochemicals sector?

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