Interview with Alex Lidback, Head of Chemical Research – EMEA, Downstream, Midstream & Chemicals, Wood Mackenzie

Interview with Alex Lidback, Head of Chemical Research – EMEA, Downstream, Midstream & Chemicals, Wood Mackenzie
Alex Lidback is a keynote speaker at the CIS Petrochemicals 2014, being held on 15-17 April 2014 in Moscow. We have asked him a few questions regarding the global economic situation and the key factors on the global market  in the petrochemicals industry development.
Q: How would you describe the current global economic situation regarding the petrochemical sector? Is there room for optimism?
A: The global petrochemical sector on an overall basis continues to grow which is good news.  The hope is that as the economies continue to rebound even more this will help spur demand growth.  Non-durable goods tend to be more resilient in slow economic periods but durable goods have been soft for quite some time.  The improving economic conditions should be good news for chemical demand growth.  Asia, primarily China, has been driving global demand growth and while there are concerns with their economy we do believe that it will continue to grow.  North America has been recovering slightly but it appears that Europe is starting to show some signs of improvement.  Assuming no major economic or political issues, demand growth should continue.
Q: In your opinion, what are the key opportunities and challenges in the global market for petrochemical companies?