As the existing global trading system crumbles, and overcapacity keeps growing, Europe’s chemical industry must move back to a more national or regional business model.

- Trade war shows global trading system is breaking down

- Chemical industry could move back to a national or regional business model

- Would be a return to pre-1990s industry structure

- Europe has smaller chemical plants, ideal for regional markets

- EU must now act fast to protect chemical and industrial value chains

- China chemicals has been based on 6-8% GDP growth per year

- Now real GDP growth is only 1-4%, according to unofficial estimates

In this ICIS Think Tank podcast, Will Beacham interviews John Richardson from the ICIS market development team, ICIS Insight Editor Tom Brown and Paul Hodges, chairman of New Normal Consulting.

With H1 2025 already in the rear-view mirror, and the summer heatwave upon us once again, the acetone and phenol, and derivative markets, continue to be blighted by difficulties.

Demand, pretty much across the board in this value chain as well as for many other products, remains stubbornly weak.

Supply is ample in most cases as well, leading to stagnant markets, sluggish spot activity, and contracts doing the majority of the heavy lifting in the markets.

In this podcast, Europe ICIS editors Jane Gibson (acetone and phenol), Heidi Finch (bisphenol A and epoxy resins), Sam Lovatt (polycarbonate), Mathew Jolin-Beech (methyl methacrylate) and ICIS senior analyst Michele Bossi (aromatics and derivatives) discuss current market conditions, and look forward to H2 2025.

SINGAPORE (ICIS) -- Trade tensions have been in focus for the wider petrochemical markets since US Liberation Day tariffs were announced. In this podcast, propylene editor Julia Tan speaks with ethylene editor Josh Quah to examine how recent tariff developments have impacted the Asian olefins market.

• Ethylene support collapses with ethane resolution, new downstream demand to cushion drops
• US tariff impact to trickle up from end use sectors
• Zhengzhou Commodity Exchange announces propylene futures, beginning 22 July