View from the East - Petrochemical Markets - with John Richardson of ICIS - Ep. 220

Is China’s strategic push for chemical self-sufficiency reshaping the global petrochemical landscape? John Richardson, senior consultant at ICIS, joins The Chemical Show to share insights on how misjudged growth expectations for China, shifting demographics, and the rise of state-driven capacity expansions have led to the deepest, longest downturn in industry history. John and host Victoria Meyer examine why capacity was built around hopes for perpetual strong Chinese demand, only for real estate and demographic headwinds to alter the trajectory—creating a world of oversupply, negative margins, and mounting uncertainty.  Their conversation covers the ongoing impact of trade tensions, the real drivers behind Chinese investment decisions, and why shutting down uneconomical assets is becoming a pressing necessity, especially in Europe and Asia. John and Victoria also weigh the challenges and promises of AI and data intelligence in a conservative, data-guarded sector, and offer advice for industry leaders navigating persistent market disruption. For chemical professionals, these perspectives highlight why adaptability, intelligence, and innovation will be critical in mastering both today’s volatility and tomorrow’s opportunities.  Discover more about the following topics: How China's pivot from growth to self-sufficiency is reshaping global petrochemicals. Why chemicals face their worst business cycle ever, with Asian producers bleeding money on polyethylene. How tariffs and shifting policies create constant uncertainty for chemical companies. Why China's government-backed enterprises compete on strategy, not just cost. How data and artificial intelligence will separate industry winners from losers.  “We've all assumed that polymer sciences are, you know, composites and stuff and playing with the same basic molecules, but maybe not.”  — John Richardson  00:00 Chemical Industry Insights by John  06:08 Domestic Chemical Manufacturing Expansion  08:48 Polyethylene Margins: China vs. Middle East  11:31 Tariffs and Global Business Perspectives  14:43 China's Trade Resilience Amid Challenges  20:23 Data Sharing's Impact on AI  23:50 Debating Productivity's True Impact  26:34 AI: Industrial Revolution or Renaissance?  30:49 Innovative Multi-Pane Glass Advancements  31:43 Innovative, Stronger Glass Advances    Subscribe to The Chemical Show on YouTube    ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com