PVC 2011: REGIONAL POLYMER IN A GLOBAL MARKET?(PPT)

摘要

The "Great Recession" of 2009 changed a lot of things in the global PVC business. Domestic demand dropped precipitously in the North America and Europe, but was barely impacted in Asia and other developing markets. At the same time, China continued to add millions of tons of new acetylene based PVC capacity. Indirectly, the economic turbulences resulted in a strong increase in global PVC trade. Due to a very favorable feedstock base, North America was suddenly in a position to compete in global export markets. It seems relatively certain that the United States will continue to enjoy a very favorable cost position for several years to come. On the other hand, the Chinese acetylene based route to producing PVC has not been very economical in recent years. The recent upswing in crude oil prices could reduce China's production cost disadvantage to North America. Producers in North America will remain cost leaders, however.