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Rising prosperity lifts chemicals energy demand


Rising prosperity lifts chemicals energy demand

  • Since chemicals production is energy-intensive, there is usually a competitive advantage for manufacturers to locate plants near low-cost feedstock and fuel sources
  • The U.S. chemicals industry expands using abundant, low-cost natural gas liquids which are largely a byproduct of unconventional oil and natural gas production
  • Asia Pacific’s petrochemical production grows as rising incomes stoke consumer demand
  • Affordable energy (feedstock and fuel) supplies prompt investment in the Middle East, Africa and Latin America; chemicals industry energy demand more than doubles in each region
  • Mature regions remain important contributors to global chemicals production