Global Chemicals Profit to More Than Double by 2016, IHS Says
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Chemicals profit should more than double globally by 2016 as rising Asian demand for plastics and other products outpaces supply additions in China, the Middle East and North America, a consultant said.
Earnings will remain above $150 a ton for three years beginning in 2015, peaking near $200 in 2016, compared with about $75 a ton this year, Mark Eramo, a vice president at IHS Inc., said in a presentation distributed before he spoke at the IHS World Petrochemical Conference in Houston. The peak will rival the record earnings of 1988, according to the presentation.