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Comparing the current global recessionwith the past three global recessions (onein early 1980’s, one in the early 1990’sand the other in early 2000), the currentdownturn may be the deepest trough in25 years. The recovery will likely beslower. Since the beginning of the recessionthrough 2012, significant steam crackingcapacity additions are anticipated aspetrochemical companies expand to havea global reach and impact.The current tempered reduction in demandhas been coupled with an inventoryde-stocking throughout the value chain.Some companies have adjusted inventoriesto meet lower demand or liquidated
Comparing the current global recession with the past three global recessions (onein early 1980’s, one in the early 1990’s and the other in early 2000), the current downturn may be the deepest trough in 25 years. Since the beginning of the recessionthrough 2012, significant steam crackingcapacity additions are anticipated aspetrochemical companies expand to have global reach and impact the current tempered reduction in demandhas been joined with an inventoryde-stocking throughout the value chain.Some companies have adjusted inventoriesto meet lower demand or liquidated