Wei Ding, executive director of OPIS Chemical Market Analytics, delivered his report of Industry Dynamics, Energy Transition & A Glance at Global Polyester.

The report is divided into three parts.

First, chemical industry dynamics: challenges and opportunities. Currently, global petrochemical markets are in oversupply while facing a new world reality of disruptive forces, and different regional dynamics drive opportunities and threats. For opportunities, equivalent exports for major base chemicals are increasing even while exports as a percentage of total market demand declines. Another is the population and income, especially in India and Africa.

Second, energy market: tension between security and transition. Mr. Ding analyzes the challenges for polyester demand from raw materials, electric cars and decarbonizations pathways, and also states the dilemma that global energy and petrochemical industry faces.

Third, a glance at global polyester. Mr. Ding analyzes the potential opportunity and contradiction of global polyester, including the growth of Chinese demand, investments outside mainland China leaning to PET, potential demand in populated regions, intrinsic needs of emerging economies, shrinking profits and etc.